UBS Completes Intraday Repo Transaction Using Broadridge’s Blockchain Platform
Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that UBS (NYSE:UBS) has completed the first cross-border intraday repo transaction on Broadridge’s Distributed Ledger Repo (DLR) platform. The transaction was carried out in partnership with an undisclosed “global Asian bank”.
This milestone by UBS marks the launch of the next phase in the rollout of Broadridge’s DLR platform and is a significant step forward in providing a more efficient means of intraday liquidity management.
The global expansion of the DLR platform across the sell-side and buy-side creates a network effect of increased benefits and more transaction types. Broadridge is a leader in bringing the benefits of distributed ledger capabilities to the global repo market, capturing $1 trillion in monthly volume.
Beatriz Martin, UBS Group Treasurer, stated that intraday repo is essential to manage liquidity use and improve funding capabilities with reduced operational risk. UBS has established itself as an early adopter of the Distributed Ledger platform.
According to the latest data from February, Broadridge’s DLR platform processes $1 trillion worth of transactions every month. The service has been on the market since mid-2021 and has grown to $50 billion in daily volumes since its inception. UBS became one of the first members of the platform, joining in August 2021.
UBS joins Broadridge’s Distributed Ledger Repo platform #Finance #News pic.twitter.com/Uf5FTW7N29
— Finance Magnates (@financemagnates) 9 August 2021
The DLR platform enables market participants to agree, execute and settle repo transactions, offering flexible settlement cycles based on counterparty needs. It significantly increases settlement speed and security mobility, enables intraday transactions, and reduces the operating costs and risk of all repo activity, including overnight and maturity repos.
“This is the next step in executing our vision to transform global repo market infrastructure. We are enabling leading financial institutions like UBS to dramatically reduce risk and operating costs and see increased liquidity,” Horacio Barakat, Head of Digital Innovation at Broadridge, commented.
Long list of Broadridge’s partners
The last few months have Financial tycoon has repeatedly reported on new projects and collaborations involving Broadridge. In March, Broadridge partnered with Atlas for enhanced investment solutions, with Apex Silver to improve the tax experience for wealth managers, and with CQG to offer a trading technology suite for institutional clients.
At the end of February, Broadridge announced that it is expanding its European sales team by hiring Guillaume Bunouf and Alvaro Del Pino Aguilera, who are responsible for identifying growth opportunities in the old continent.
According to the latest financial information released by Broadridge, the company generated $1.3 billion in revenue in the last three months of 2022. Additionally, recurring revenue increased 6 percent to $840 million.
Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that UBS (NYSE:UBS) has completed the first cross-border intraday repo transaction on Broadridge’s Distributed Ledger Repo (DLR) platform. The transaction was carried out in partnership with an undisclosed “global Asian bank”.
This milestone by UBS marks the launch of the next phase in the rollout of Broadridge’s DLR platform and is a significant step forward in providing a more efficient means of intraday liquidity management.
The global expansion of the DLR platform across the sell-side and buy-side creates a network effect of increased benefits and more transaction types. Broadridge is a leader in bringing the benefits of distributed ledger capabilities to the global repo market, capturing $1 trillion in monthly volume.
Beatriz Martin, UBS Group Treasurer, stated that intraday repo is essential to manage liquidity use and improve funding capabilities with reduced operational risk. UBS has established itself as an early adopter of the Distributed Ledger platform.
According to the latest data from February, Broadridge’s DLR platform processes $1 trillion worth of transactions every month. The service has been on the market since mid-2021 and has grown to $50 billion in daily volumes since its inception. UBS became one of the first members of the platform, joining in August 2021.
UBS joins Broadridge’s Distributed Ledger Repo platform #Finance #News pic.twitter.com/Uf5FTW7N29
— Finance Magnates (@financemagnates) 9 August 2021
The DLR platform enables market participants to agree, execute and settle repo transactions, offering flexible settlement cycles based on counterparty needs. It significantly increases settlement speed and security mobility, enables intraday transactions, and reduces the operating costs and risk of all repo activity, including overnight and maturity repos.
“This is the next step in executing our vision to transform global repo market infrastructure. We are enabling leading financial institutions like UBS to dramatically reduce risk and operating costs and see increased liquidity,” Horacio Barakat, Head of Digital Innovation at Broadridge, commented.
Long list of Broadridge’s partners
The last few months have Financial tycoon has repeatedly reported on new projects and collaborations involving Broadridge. In March, Broadridge partnered with Atlas for enhanced investment solutions, with Apex Silver to improve the tax experience for wealth managers, and with CQG to offer a trading technology suite for institutional clients.
At the end of February, Broadridge announced that it is expanding its European sales team by hiring Guillaume Bunouf and Alvaro Del Pino Aguilera, who are responsible for identifying growth opportunities in the old continent.
According to the latest financial information released by Broadridge, the company generated $1.3 billion in revenue in the last three months of 2022. Additionally, recurring revenue increased 6 percent to $840 million.
