NEW YORK, N.Y. – October 1, 2019 – Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500® Index, today announced that it has acquired Shadow Financial Systems, Inc., a provider of multi-asset class post-trade solutions for the capital markets industry. The acquisition builds upon Broadridge’s current industry leading post-trade processing capabilities by adding a market-ready solution for exchanges, inter-dealer brokers and proprietary trading firms. In addition, the acquisition adds capabilities across exchange traded derivatives (ETDs) and cryptocurrency.
“The acquisition of Shadow Financial Systems is the latest example of Broadridge building upon our industry leading capital markets solutions,” said Michael Alexander, co-head of North American Wealth and Capital Markets Solutions for Broadridge. “We look forward to bringing real benefits to a new set of market participants as well as new capabilities to our existing client base.”
“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,” said Don Marino, President of Shadow Financial Systems, Inc.
Alantra acted as exclusive financial and strategic advisor to Shadow Financial Systems, Inc. Terms of the deal were not disclosed.
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