A Technology Roundup
EDISON, N.J. (HedgeWorld.com)–A provider of back-office systems, Shadow Financial Services launched a new clearing interface that is real-time and includes the new MQSeries-based settlement services of the Depository Trust Co.
Maple Securities USA, an international self-clearing broker-dealer, is now using the new interface through Sungard’s Global One international securities borrowing and lending system. Maple has been using the ShadoSuite system for clearing and settlements through both the Depository Trust & Clearing Corp. and Options Clearing Corp. Shadow Financial’s ShadoSuite handles trade processing, accounting, clearing and settlements.
ShadoSuite was chosen to bring Maple’s self-clearing activities entirely in-house after using a facilities management service for several years. The DTCC redeveloped its settlement services to use IBM’s MQSeries messaging. Through the ShadoSuite interface, Maple is the first firm to use the MQSeries messaging service for securities payment orders and pledges.
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Shadow Financial itself has a number of clients, such as Refco Group Holdings, Alliance Financial and Raymond James. Earlier this year, the firm signed on Alternative Investment Solutions, a hedge fund administrator that partners with Fulcrum, another fund administrator, to provide offshore fund services.
AIS aids fund managers in processing growing trade volumes while also meeting regulatory requirements. The firm also helps its clients alleviate the risk of operational errors and the cost of executing and managing the post-trade investment process while assisting in the back office and accounting processes.
Harborside Links with Order Management Systems
NEW YORK (HedgeWorld.com)–Harborside+ has teamed up with MacGregor to develop an application that lets Harborside+ users receive large block equity indications of interest (IOI) from a traders’ order management system.
Harborside Indication Manager is a neutral and confidential service for attracting and matching these IOIs with pools of liquidity. The application links with a number of trader interfaces used by hedge funds including Macgregor, Eze Castle’s Traders Console, Linedata, SunGard Investment Management Systems, Charles River Development and Thomson Financial.