Broadridge Announces First High-Quality Liquidity Asset Use Case for its Distributed Ledger Repo Platform

Rhea-AI Summary

Broadridge Financial Solutions, Inc. (NYSE:BR) has announced that a Tier-1 Canadian Bank has implemented its Distributed Ledger Repo (DLR) platform for High-Quality Liquid Asset (HQLA) treasury securities management. This marks the first implementation of this HQLA use case through DLR, showcasing the potential of Distributed Ledger Technology (DLT) in transforming financial operations.

The implementation is expected to simplify workflows, generate cost savings, and lay the foundation for further DLT use cases in the financial sector. Broadridge's DLR platform is experiencing global expansion across sell-side and buy-side firms, creating a network effect and supporting a wider variety of transaction types. The platform has reached a monthly volume of $1 trillion in the global repo market.

Positive

• First implementation of HQLA use case through DLR platform
• Simplifies workflow and generates cost savings for the Tier-1 Canadian Bank
• Global expansion of DLR platform across sell-side and buy-side firms
• Monthly volume of $1 trillion reached in the global repo market

Negative

• None.

NEW YORK, Sept. 16, 2024  /PRNewswire/ -- Expanding its network across the global repo market, Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), today announced that a Tier-1 Canadian Bank has implemented its Distributed Ledger Repo (DLR) platform for High-Quality Liquid Asset (HQLA) treasury securities management. This collaboration marks a significant milestone as the bank becomes the first to go live with this groundbreaking HQLA use case through DLR, showcasing the potential of Distributed Ledger Technology (DLT) in transforming financial operations.

"As a trusted and transformative technology partner, we are thrilled to see another Tier-1 institution recognize the value of our DLR platform helping them operate, innovate and grow," said Horacio Barakat, Head of Digital Innovation at Broadridge. "This implementation not only simplifies their workflow and generates cost savings but also lays the foundation for further DLT use cases that can drive even greater efficiencies and innovation in the financial sector."

As the industry continues to evolve, firms are increasingly turning to digital strategies that incorporate DLT to unlock significant operational and cost benefits. Broadridge remains at the forefront of this transformation, helping clients navigate the complexities of the digital era and achieve long-term operational efficiencies.

The global expansion of the DLR platform across sell-side and buy-side firms is generating a network effect, amplifying benefits and supporting a wider variety of transaction types. Broadridge continues to lead the way in utilizing distributed ledger technology to reshape the global repo market with a monthly volume reaching $1 trillion.

About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information about us, please visit www.broadridge.com. 

Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com 

Media:
Gregg Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com 

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the latest development for Broadridge's DLR platform?

A Tier-1 Canadian Bank has implemented Broadridge's Distributed Ledger Repo (DLR) platform for High-Quality Liquid Asset (HQLA) treasury securities management, marking the first HQLA use case through DLR.

How much monthly volume has Broadridge's DLR platform reached in the global repo market?

Broadridge's DLR platform has reached a monthly volume of $1 trillion in the global repo market.

What benefits does the DLR platform implementation bring to the Tier-1 Canadian Bank?

The implementation simplifies workflow, generates cost savings, and lays the foundation for further DLT use cases that can drive greater efficiencies and innovation in the financial sector.

How is Broadridge's DLR platform expanding globally?

The DLR platform is expanding across sell-side and buy-side firms, generating a network effect and supporting a wider variety of transaction types in the global repo market.