Broadridge welcomes UBS to DLT-powered sponsored repo solution

Rick Steves

“By digitizing our existing sponsored repo trade flow and incorporating those trade flows into our DLR tech stack on Broadridge’s platform, we can increase efficiencies while reducing the risk of fails and lowering our settlement costs.”

Broadridge Financial Solutions, Inc., a titan in the fintech realm, has unveiled its latest innovation: a sponsored repo solution founded on its Distributed Ledger Repo (DLR) platform.

UBS, the global financial services firm, has already marked its transition to this novel system, emphasizing Broadridge’s pioneering approach in integrating distributed ledger technology (DLT) and smart contracts to transform the repo market.

Reduced settlement costs and a minimized risk of fails

This strategic move not only elevates the next phase of Broadridge’s DLR platform rollout but also promises clients a suite of benefits, from slashing settlement costs and refining processes to amplifying scalability and minimizing operational risks.

Christian Rasmussen, Head of Investment and Execution, Group Treasury UBS, said: “By digitizing our existing sponsored repo trade flow and incorporating those trade flows into our DLR tech stack on Broadridge’s platform, we can increase efficiencies while reducing the risk of fails and lowering our settlement costs. We are always looking for innovative ways to reduce operational risks and believe this platform will help us accomplish our goals.”

Horacio Barakat, Head of Digital Innovation at Broadridge, commented: “We are thrilled to announce the go live of BR’s new sponsored repo solution, which leverages distributed ledger technology to help clients gain operational efficiencies and drive settlement cost reduction. This is the latest milestone in executing on our vision of transforming global repo market infrastructure and further demonstrating the power and value creation of DLR. We are empowering leading financial institutions with the ability to dramatically lower risk and operating costs and see enhanced liquidity.”

Broadridge’s DLR platform, with its global reach spanning sell-side and buy-side firms, has created a ripple effect. The more institutions join the platform, the more amplified the benefits become, ushering in a new era for transaction types. Holding its position at the vanguard, Broadridge is steering the global repo market towards a transformative path, boasting an impressive $1 trillion in monthly volume through its distributed ledger innovations.

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