U.S.-based fintech Broadridge Financial announced on Tuesday it has acquired Shadow Financial Systems, Inc., a provider of multi-asset class post-trade solutions for the capital markets industry. Broadridge reported that through the acquisition it is able to add cryptocurrency and exchange traded derivatives (ETDs) on its platform.
While sharing details about the acquisition, Michael Alexander, Co-Head of North American Wealth and Capital Markets Solutions for Broadridge
“The acquisition of Shadow Financial Systems is the latest example of Broadridge building upon our industry leading capital markets solutions. We look forward to bringing real benefits to a new set of market participants as well as new capabilities to our existing client base.”
Don Marino, President of Shadow Financial Systems, Inc, then noted:
“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.”
Broadridge went on to add that Alantra acted as exclusive financial and strategic advisor to Shadow Financial Systems, Inc. Terms of the deal were not disclosed.