Waters Rankings 2021: Best distributed-ledger technology provider—Broadridge Financial Solutions

Product: Distributed Ledger Repo

“The launch of Distributed Ledger Repo is the first step in the transformation of the $10 trillion global outstanding bilateral repo market using smart contracts and distributed ledger technology. In the repo market, our platform has shown that distributed ledger technology and smart contracts can play an instrumental role in driving efficiencies, reducing risk and enhancing liquidity while leveraging the existing legal and account frameworks.”
Broadridge Financial Solutions

WHY THEY WON

Broadridge has been an early proponent of DLT. But rather than using the tech as a hammer looking for a nail, Broadridge has been targeted in its approach to DLT deployment, which has helped it to make better use of the technology than some other companies that have tried and failed.

WHAT’S NEW

The platform’s functionality reduces the operating cost and risk of all repo activity, including intraday, overnight and term repos, both on a bilateral and an intracompany basis.

The platform operates through a common data model shared between participants, eliminating the need for reconciliation and reducing fails.

Broadridge’s core enterprise blockchain platform enables a shared source of truth and provides critical privacy, integrity, and authentication, delivering the performance, monitoring, and enterprise-grade support essential to repo markets.

WHAT’S TO COME 

Broadridge’s focus is to continue to grow the platform’s network of participants, both on the buy side and sell side.

The company will look to expand the DLR platform functionality to other securities financing areas of the market, such as securities lending.

Broadridge expects to branch out to other assets classes that currently do not have high liquidity profiles.

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