The blockchain-enabled platform aims to accelerate the digitisation of the global repo market to reduce risk and operational costs and enhance liquidity.
Broadridge launched its DLR platform in June 2021 and this executed US$25 billion in average daily volume during the first week of the go-live date.
Built on Broadridge’s fixed income platform that processes over US$8 trillion per day, DLR couples emerging distributed ledger and smart contract technology with existing operational account structure functionality.
This enables real-time securities mobility in the repo market at scale. The innovation of the repo markets will result in a more efficient market infrastructure and increased capital velocity, according to Broadridge.
“Broadridge continues to drive the transformation of repo market infrastructure with the distributed ledger technology repo platform via the utilisation of smart contracts to digitise the trade agreement between counterparties and leveraging digitised assets to reduce settlement cycles.”
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