Broadridge’s Distributed Ledger Repo service processes $8 trillion in July volume
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Broadridge Financial Solutions, a New York-listed fintech, announced that its Distributed Ledger Repo (DLR) platform processed over $8 trillion in July.
Key facts
Broadridge Financial Solutions, a New York-listed fintech, announced that its Distributed Ledger Repo (DLR) platform processed over $8 trillion in July
Broadridge (BR) rose 4.14% on the New York Stock Exchange on Monday, closing at $173.4
According to the firm's Monday press release, the blockchain-based repo platform processed an average of $365 billion per day last month, representing a 28% increase year-over-year
Tokenization is increasingly becoming part of how institutions optimize liquidity and collateral management," said Horacio Barakat, global head of digital innovation at Broadridge
Summary
According to the firm's Monday press release, the blockchain-based repo platform processed an average of $365 billion per day last month, representing a 28% increase year-over-year. "Tokenization is increasingly becoming part of how institutions optimize liquidity and collateral management," said Horacio Barakat, global head of digital innovation at Broadridge. DLR allows companies to settle repurchase agreement (repo) transactions on distributed ledger technology while operating within their existing trading and post-trade environments. The use of the technology enhances efficiency and liquidity management by enabling real-time financing and movement of tokenized collateral across counterparties, according to Broadridge.