The solution is built on the company’s Distributed Ledger Repo (DLR) platform, and represents a substantial step forward in Broadridge’s ongoing commitment to enhancing settlement cost savings, simplifying processes, achieving scalability, and reducing operational risks for clients through the use of distributed ledger technology and smart contracts.
UBS, a renowned financial institution, is embracing digital transformation by integrating its existing sponsored repo trade flow into Broadridge’s DLR tech stack. This strategic move aims to enhance operational efficiency, minimise the risk of transaction failures, and lower settlement costs.
“By digitising 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.”
“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. “We are empowering leading financial institutions with the ability to dramatically lower risk and operating costs and see enhanced liquidity.”
The expansion of the DLR platform across sell-side and buy-side firms globally creates a network effect, offering increased benefits and facilitating a variety of transaction types. Broadridge is at the forefront of leveraging distributed ledger capabilities to revolutionise the global repo market, with a remarkable $1tn in monthly volume.
Broadridge Financial Solutions (NYSE: BR) is a leading global FinTech company with over $6bn in revenues. They provide critical infrastructure that drives innovation in investing, corporate governance, and communications, ultimately enabling better financial lives for individuals and institutions.
Broadridge’s technology-driven solutions empower banks, broker-dealers, asset managers, wealth managers, and public companies to transform their operations and enhance customer experiences. With a presence in 21 countries and a workforce of over 14,000 associates, Broadridge is recognised as a certified Great Place to Work® and is part of the S&P 500® Index.
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