Broadridge in the News

DLR

With so many parties involved in a broad range of transactions, it’s difficult to manage risk and ensure liquidity in today’s repo market. Working with buy side and sell side firms, Broadridge has developed an innovative solution that adds efficiency and reduces settlement risk to repurchase agreements. Using Distributed Ledger technology and SMART contracts, we make it possible to detach the collateral from the trade agreement, so clients can streamline their operations and mitigate risk. We are proud to announce the successful launch of our DLR platform in a live production environment where we are executing $35B in average daily volume. See the recent press release for updates on our DLR platform and reach out to your account representative for more details.

Sponsored GC

Broadridge’s newest product, Sponsored GC service, has recently gone live in conjunction with DTCC and BNY Mellon. Sponsored GC allows Sponsoring Members and their Sponsored Member Clients to transact tri-party repo activity on a general collateral basis across all U.S. Treasury securities, agency debentures and agency mortgage-backed securities collateral to the Fixed Income Clearing Corporation (FICC). All the repo transactions cleared at FICC will settle on BNY Mellon’s tri-party platform, (including overnight and term repo transactions, which will create an easier operational process for clients).

This GC initiative has several benefits: expanding financing offerings by FICC members with their clients who are non-FICC members, netting down on balance sheet positions and improving efficiencies (with the potential for reduced costs). As of present, 29 Sponsored Members and over 1800 Sponsored Member clients use FICC’s Sponsored service; Broadridge has 1 client live and 2 currently in the testing phase. See the recent press releases for Broadridge Sponsored GC updates.