A $*$-polynomial is a function on a complex Banach space $X,$ which is a sum of so-called $(p,q)$-polynomials. In turn, for non-negative integers $p$ and $q,$ a $(p,q)$-polynomial is a function on $X,$ which is the restriction to the diagonal of some mapping, defined on the Cartesian power $X^{p+q},$ which is linear with respect to every of its first $p$ arguments and antilinear with respect to every of its other $q$ arguments. The set of all continuous $*$-polynomials on $X$ form an algebra, which contains the algebra of all continuous polynomials on $X$ as a proper subalgebra. So, completions of this algebra with respect to some natural norms are wider classes of functions than algebras of holomorphic functions. On the other hand, due to the similarity of structures of $*$-polynomials and polynomials, for the investigation of such completions one can use the technique, developed for the investigation of holomorphic functions on Banach spaces.
 We investigate the Frechet algebra of functions on a complex Banach space, which is the completion of the algebra of all continuous $*$-polynomials with respect to the countable system of norms, equivalent to norms of the uniform convergence on closed balls of the space. We establish some properties of shift operators (which act as the addition of some fixed element of the underlying space to the argument of a function) on this algebra. In particular, we show that shift operators are well-defined continuous linear operators. Also we prove some estimates for norms of values of shift operators. Using these results, we investigate one special class of functions from the algebra, which is important in the description of the spectrum (the set of all maximal ideals) of the algebra.
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