back Back

Broadridge adds UBS onto its Distributed Ledger Repo platform

By Pavithra R

August 09, 2021

  • Broadridge
  • New York
Share

Broadridge adds UBS onto its Distributed Ledger Repo platformBroadridge Financial Solutions, a provider of investor communications, technology-driven solutions, data and analytics to the financial services industry, has announced that UBS has joined its transformative distributed ledger repo (DLR) platform.

The addition of UBS builds on the early platform success and accelerates the expansion of the DLR network, leveraging Broadridge’s fixed income platform that processes over $6T in average daily volume and includes 20 of the 24 primary dealers.

“We look forward to the enhanced liquidity and reduction of risk that Broadridge’s distributed ledger repo platform provides. This partnership reinforces our overall digital strategy, leveraging new technologies aimed at reducing risk and improving efficiencies in the financial markets,” said Paul Chiappetta, Americas Chief Operating Officer of Group Treasury at UBS AG.

DLR provides a single platform where market participants can agree, execute and settle repo transactions. Under a digital repo approach, collateral can be detached from the trade agreement, while the cash remains off-chain. DLR allows for the immobilization of the underlying securities in the repo transactions, while transferring ownership via smart contracts executed on the platform. The platform’s functionality significantly reduces the operating cost and risk of all repo activity, including intraday, overnight and term repos, both on a bilateral and intracompany basis and reduces counterparty risk while increasing auditability.

“In the first weeks since launch, DLR has executed $35B in average daily volume – a testament to the success of the platform, which we expect to continue to grow as additional clients join the platform. We are excited to welcome UBS onto the platform and to continue to bring significant benefits in the form of enhanced liquidity, reduction of risk and operational efficiencies to our clients and the industry,” said Vijay Mayadas, President of Capital Markets at Broadridge.

With over $4.5 bn in revenues, New York-based Broadridge Financial Solutions provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. It provides investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers.

Previous Article

August 09, 2021

POS transactions hit 227 billion Riyals during H1 2021: Saudi Payments

Read More
Next Article

August 09, 2021

LedgerEdge selects Eventus Systems for global trade surveillance

Read More

Wolters
ISTBML
Mambu
Financial-finergo



Advertise with us



IBSi Prime News

The Weekly Wrap

January 28, 2022

Broadridge

The Weekly Wrap: all you need to know by Friday COB | Jan 28th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

January 28, 2022

Fireblocks raises $550m in Series E funding

Read More

January 28, 2022

Origin launches Instant-ISIN 2.0 driven by new Clearstream API

Read More

January 28, 2022

Ripple buys back Series C at $15bn valuation

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
Applications of Artificial Intelligence In Banking 2021

£500

Know More
Global Digital Banking Vendor and Landscape Report Q4 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More