Broadridge Financial Solutions has acquired Shadow Financial Solutions, expanding its reach to include exchange traded derivatives and cryptocurrency. Terms of the transaction weren’t disclosed.
Founded in 1997, Shadow Financial today serves customers including NYSE Arca, a subsidiary of the New York Stock Exchange; National Financial Services, a Fidelity Investments company; Société Générale’s New York Branch and Raymond James & Associates.
“The acquisition of Shadow Financial Systems is the latest example of Broadridge building upon our industry leading capital markets solutions,” Michael Alexander, Broadridge’s co-head of North American Wealth and Capital Markets Solutions, 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.”
Lake Success-based Broadridge Financial Solutions is a $4 billion global fintech copany and a part of the S&P 500 Index, providing proxy voting services for more than half of public companies and mutual funds globally.
It processes more than $7 trillion in fixed income and equity trades per day and employs more than 11,000 full-time associates in 18 countries.
