Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that UBS and a global Asian bank have successfully executed the first cross-border intraday repo transaction on Broadridge’s blockchain enabled Distributed Ledger Repo (DLR) platform.
This intraday trade marks the launch of the next phase in the rollout of Broadridge’s DLR platform. 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 a more efficient means of intraday liquidity management.
“Intraday repo is a valuable tool to manage our liquidity usage and provides flexibility in our funding capabilities with reduced operational risk,” said Beatriz Martin,…
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