Broadridge Financial Solutions, Inc. (BR Quick QuoteBR - Free Report) has acquired multi-asset class post-trade solutions provider Shadow Financial Systems for an undisclosed amount.

Founded in 1997, Shadow Financial provides software for processing and recording stock trades and other financial transactions including those that involve cryptocurrency. The company’s customers include big names such as the New York Stock Exchange, Fidelity and Raymond James’ (RJF Quick QuoteRJF - Free Report) Raymond James Associates.

The acquisition expands Broadridge’s post-trade processing capabilities to exchange-traded derivatives and cryptocurrency. It adds a market-ready solution for exchanges, proprietary trading firms and inter-dealer brokers.

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

The move is part of Broadridge’s continuous investments in next-generation technologies and efforts to strengthen its client-focus culture. This should help it better compete with the likes of Fiserv . The company has been investing heavily in blockchain projects but the Shadow buyout is reportedly its first foray into cryptocurrency.

Earlier this year, Broadridge bought a blockchain platform for private equity from Northern Trust (NTRS Quick QuoteNTRS - Free Report) . It announced that it was developing a blockchain-based platform for shareholder disclosure, in response to the European Commission’s updated Shareholder Rights Directive.

Just Released: Zacks’ 7 Best Stocks for Today

Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.6% per year.

These 7 were selected because of their superior potential for immediate breakout.

See these time-sensitive tickers now >>