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A Distributed Ledger Repo case study.
With Broadridge’s Distributed Ledger Repo (DLR) platform, the bank has digitalized its repo trade collateral, thus simplifying and accelerating the settlement process.
By digitalizing post-trade repo workflows, the bank gains operational efficiencies as well as reduces settlement costs.
The DLR platform automatically ensures that the bank’s trade details are accurate, helping to decrease operational errors, fails, and costly penalty charges.
DLR provides a single source of truth for the bank’s real-time repo trade commitments, boosting the it's liquidity.
The promise of blockchain and distributed ledger technology (DLT) has captivated the financial services industry for years, with many companies questioning how to efficiently leverage the technologies. The investment bank has found an answer with Broadridge’s Distributed Ledger Repo (DLR) platform.
The traditional intracompany repo trade process is particularly complicated. Prior to the bank launching DLR, each intracompany repo trade involved multiple parties, complex workflows, and manual reconciliations. The global company executes tens of thousands of them daily, incurring significant costs each year.
What’s more, the process was laborious — the manual effort is not only inefficient but could lead to errors.
Lastly, the siloed approach creates barriers to visibility. The European financial services leader increased visibility into its cash positions can lead to more strategic allocations in real time.
The bank still books intracompany repo trades via Broadridge’s fixed-income trade processing solution. However, the DLR application now sits between the company and the fixed income platform. The DLR trading solution eliminates the need to exchange the underlying securities in the repo transactions. Instead, the platform transfers ownership between entities using smart contracts.
The entire process allows the bank's entities to agree, settle, and execute their repo transactions in one place. It also provides a single view of the entire lifecycle of transactions for everyone involved. And the automated matching and settlement flags eliminate potential discrepancies that would typically lead to failed trades.
With its new DLR infrastructure, the bank has reinvented how it conducts intracompany repo trading. The blockchain technology has helped the company reduce the operational cost and risk of each transaction. With Broadridge’s DLR solution, the global financial services company stands to:
With its new DLR infrastructure, the bank has reinvented how it conducts intracompany repo trading and reduced the operational cost and risk of each transaction.
The benefits provided by Broadridge DLR make the technology investment more than worth it. In the process, the bank has helped usher in a new era of blockchain technology that will set the standard for intracompany and bilateral repo trades going forward.
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