NEW YORK, October 2, 2023 – 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) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of 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, please visit www.broadridge.com.