DLT powered solution built on Broadridge's
distributed ledger repo platform drives cost savings
and reduces operational risk for clients
NEW
YORK, Oct. 2, 2023 /PRNewswire/ -- Global
Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR),
today announced that UBS successfully went live on
Broadridge's newly launched sponsored repo solution built on the
DLT enabled Distributed Ledger Repo (DLR) platform. This sponsored
repo solution marks the launch of the next phase in the rollout of
Broadridge's DLR platform. Continuing to build on the initial
success of the platform and leveraging the growing expansion of the
network across the global repo community, this is a major step
forward to providing clients with significant settlement cost
savings, process simplification, scalability, and reduction of
operational risks via distributed ledger technology and smart
contracts.
"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," said
Christian Rasmussen, Head of
Investment and Execution, Group Treasury UBS. "We are always
looking for innovative ways to reduce operational risks and believe
this platform will help us accomplish our goals."
"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," said
Horacio Barakat, Head of Digital
Innovation at Broadridge. "We are empowering leading financial
institutions with the ability to dramatically lower risk and
operating costs and see enhanced liquidity."
The global expansion of the DLR platform across both sell-side
and buy-side firms enables a network effect of increased benefits
and additional transaction types. Broadridge is a leader in
bringing the benefits of distributed ledger capabilities to
transform the global repo market, capturing $1 trillion dollars in monthly volume.
About Broadridge
Broadridge Financial Solutions (NYSE:
BR), a global Fintech leader with more than $6 billion in revenues, provides the critical
infrastructure that powers investing, corporate governance and
communications to enable better financial lives. We deliver
technology-driven solutions that drive business transformation for
banks, broker-dealers, asset and wealth managers and public
companies. Broadridge's infrastructure serves as a global
communications hub enabling corporate governance by linking
thousands of public companies and mutual funds to tens of millions
of individual and institutional investors around the world. Our
technology and operations platforms underpin the daily trading of
more than U.S. $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 and what we can do for you, please
visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Tina Wadhwa
Corporate Communications
Tina.Wadhwa@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.