In a medium sized saucepan over medium high heat, sauté the shallots, garlic, and peppercorns in 1 tablespoon of the butter until the shallots are translucent.

Add the Madeira, red wine, rosemary, and tomato and reduce by two-thirds.

Whisk in the demi-glace until completely incorporated. Whisk in the remaining butter a little bit at a time. This will add richness as well as thicken the sauce.

Strain through a fine sieve and transfer sauce to a blender.

Add half the black olives and puree until smooth.

Return the sauce to the pan, add salt and pepper if necessary.

Roughly chop the remaining olives and add them to the sauce.

If the sauce is too thin, reduce until the sauce is thick enough to coat the back of a spoon.