Remove any large stems from basil and wash leaves. Shake off excess water and dry with paper towel. Place in food processor; with blade attachment process until finely chopped. Process in two batches if necessary to get a uniformly chopped basil. Remove from processor and reserve.
Place butter in small mixer bowl. Using an electric mixer, whip butter until pliable. Add garlic, salt, pepper, parmesan and Romano cheeses, and basil; mix until well incorporated. Basil butter can be used immediately or stored covered in refrigerator for 3 to 4 days.
Cook pasta according to directions, drain well and keep warm.
Melt basil butter in large skillet over medium heat. Add shrimp and sauté just until done, about 2 to 3 minutes.
Serve over hot cooked pasta. Pass freshly grated parmesan cheese.