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Industry news

Broadridge acquires Shadow Financial Systems


04 October 2019 New York
Reporter: Becky Bellamy

Generic business image for news article
Image: Shutterstock
Broadridge Financial Solutions has acquired Shadow Financial Systems to build on its current post-trade processing capabilities.

The acquisition adds a solution for exchanges, inter-dealer brokers and proprietary trading firms as well as capabilities across exchange-traded derivatives and cryptocurrency.

Michael Alexander, co-head of North American Wealth and Capital Markets Solutions for Broadridge, said: “We look forward to bringing real benefits to a new set of market participants as well as new capabilities to our existing client base.â€

Don Marino, president of Shadow Financial Systems, said: “We are excited to join industry leader Broadridge and to better serve our clients’ evolving needs while adding the scale, deep domain expertise and technology resources that Broadridge can provide.â€
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