Broadridge participated as a project contributor in the RSN proof of concept (PoC). The following is a direct excerpt from the RSN PoC Business Report, published in December 2024.
The final use case that the RSN working group explored was the ability to connect to a third-party platform to initiate intraday repurchase agreements in which both legs of the transaction are settled on the RSN. Expanding on the non-centrally cleared investment-grade bond and centrally cleared DvP use cases, the intraday repo use case was performed in collaboration with Broadridge’s Distributed Ledger Repo (DLR) product. The use case intended to demonstrate that the RSN could facilitate intraday repo transactions across two separate networks with enhanced transparency, real-time visibility, and automated synchronized settlement of both cash and securities for both legs of a repo transaction that are maintained on the RSN, ultimately providing an intraday funding solution to allow RSN member banks to better optimize their cash and collateral on an intraday basis.