Waters Rankings 2022: Best distributed-ledger technology provider—Broadridge Financial Solutions
Overview
Broadridge’s Distributed Ledger Repo (DLR) blockchain-enabled platform is transforming the $10 trillion global repo market and empowering participants to realize the benefits of reduced risk and operational costs, and increased collateral liquidity. DLR provides a single platform where participants can execute and manage all repo transactions, allowing for the creation of mutualized workflows between counterparts and front-to-back digitization from matching to settlement of transactions.
“We are excited to leverage the operational efficiencies, benefit from real-time visibility and have access to enhanced liquidity that Broadridge’s distributed ledger repo platform provides. This partnership with Broadridge reinforces Societe Generale’s overall strategy by leveraging blockchain technology to improve efficiency in the financial markets, particularly the $10 trillion global bilateral repo market.”
Greg Zielinski, COO, Societe Generale Americas
The Solution
The DLR platform uses smart contract technology to automate and manage the complex multi-party repo processes, ensuring synchronization between counterparts through the repo lifecycle, thus eliminating the potential for fails and the need for reconciliation. DLR’s tokenization of collateral allows for the digitization of settlement, optimizing its timing, based on the agreement between counterparts.
Secret Sauce
The DLR platform is transforming and digitizing the global repo markets, while leveraging existing market infrastructure. It provides significant benefits without the need to replace existing technology stacks or depository location of collateral. Built on Broadridge’s fixed-income platform that processes over $8 trillion per day, DLR couples emerging distributed-ledger and smart-contract technology with existing operational account structure functionality, enabling real-time securities mobility in the repo market at scale.
Recent Milestones
Over the past 12 months, Broadridge has witnessed the rapid expansion of network participants as well as increased interest in joining the DLR platform. It continues to expand the types of trades that can be executed on the platform, including intra-day repos, sponsored repos and multi-collateral bilateral repos.
“The launch of DLR is the first step in transforming 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.”
Horacio Barakat, head of digital innovation for capital markets, Broadridge Financial Solutions
Future Objectives
Broadridge’s focus remains centered on the continuous expansion of the network via added layers of functionality that create additional value for both sell-side and buy-side clients. It plans to expand DLR into other areas of securities financing via the utilization of it smart contract and tokenization technology.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Most innovative market data project/initiative—firmfact
Firmfact automates market‑data contracts, invoices and entitlements for banks and asset managers. Its AI reads documents, matches invoices line‑by‑line and verifies licences with minimal keying.
Best market data newcomer (vendor or product)—Octaura
Octaura’s Insights Platform is an integrated market intelligence and analytics offering purpose-built for the leveraged loan market.
Best market data provider (broker)—Fenics Market Data & Analytics
FMD’s Broker Data service draws on BGC Group’s global brokerage operations to provide pricing, trade and order-flow information across FX, rates, fixed income, commodities and derivatives.
Best evaluated pricing service provider/vendor—Infront
Infront Quant supplies independent, cross‑asset valuations with a “white‑box approach”, offering level 1 and 2 transparency.
IMD & IRD Awards 2026 winner’s interview—Smartstream
Smartstream wins Best reference data managed service at the IMD & IRD Awards 2026
Best reference data integration vendor—Gresham
Gresham’s AI-native EDM Suite combines data from disparate sources and systems and provides user-firms with a single point of integration across the data life cycle.
Best ESG data initiative—Bloomberg
Bloomberg’s Impact and Allocation dataset provides investors with a consistent means of assessing how proceeds are being deployed and what outcomes issuers report.
Best AI/machine learning data initiative—FactSet
FactSet unveiled its MCP server in December 2025, allowing secure, authorized access to the firm’s data from third‑party AI tools.
