Tier 1 Canadian bank implments DL-based repo platform from Broadridge
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.
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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.