UBS goes live on Broadridge DLT-based repo platform

By Delisha Fernandes

Broadridge Financial Solutions, has announced that UBS has gone live on Broadridge’s 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.

“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.”

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.

“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.”

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.