Man Financial, the brokerage division of Man Group, has selected Shadow Financial Services’ ShadoSuite global securities processing, reconciliation, clearing and accounting system to support its global equity businesses.
The Man Financial division provides intermediary and matched principal broking and other related services to a worldwide client base, ranging from financial institutions, asset managers and industrial groups, to professional traders and private clients.
The ShadoSuite software is designed for post-trade processing, clearing and accounting, regardless of trading volume, currency combinations, financial instruments and transaction types. It can be deployed as a fully integrated enterprise solution or as distinct point solutions as required.
Man Securities senior vice president Rich Gill says the system will provide the company with a flexible, scalable and cost effective solution. Shadow’s ability to support both SWIFT and DTC settlement requirements, respond to requests for modifications to functionality, and deliver a customized solution within the firm’s tight time requirements, were cited as reasons for the system’s selection.