The Lake Getting good results, N. Y. -based specialist}, an investor services firm together with $4 billion in taking and a $15 billion sector cap, has invested to a great extent in blockchain projects, however, the key Shadow deal will be this foray into cryptocurrency.
Broadridge Financial Solutions can now offer post-trade services in cryptocurrency after acquiring fintech company Shadow Financial Procedures.
Broadridge did not disclose the terms of the deal or reveal exactly parts of post-trade processing when considering crypto the firm without doubt implement. According to Justin Llewellyn-Jones, head of capital products for North America at Broadridge, over the next month, the agency will perform due diligence around Shadow Financial to determine things its software can do for crypto post-trade services.
“There are not that many firms that want to settle as clear Coinbase trades, ” Llewellyn-Jones said. “If we are those capabilities it opens up a worthwhile arc for us to go into the future. ”
Shadow Financial seriously a provider of multi-asset-class help based in Piscataway, N. L. It offers post-trade software concerning exchanges, inter-dealer brokers, broker-dealers, agency brokers and exclusive trading firms. In August 2018, Shadow Financial announced there support of cryptocurrencies throughout the ShadowSuite, the firm’s winning your ex back, clearance, settlement, treasury or accounting system.
In addition to millions of dollars of investments in the blockchain space, Broadridge has took part in blockchain pilots features of proxy voting and bilateral repurchase agreements. Still, that is first Broadridge investment that dabble in cryptocurrency as well.
Earlier this year, Broadridge gotten Northern Trust’s blockchain platform for private equity. In response to the European Commission’s reform to its Shareholder’s Legal rights Directive, Broadridge said that it was building a blockchain shareholder disclosure platform.