Broadridge processes $8 trillion in July through blockchain repo platform

Broadridge Financial Solutions has processed $8 trillion in repo transactions through its blockchain-based Distributed Ledger Repo platform during July, with average daily volume reaching $365 billion. Summary Broadridge’s blockchain repo platform processed $8 trillion in transactions during July. Average daily DLR volume reached $365 billion, up 28% year over year. The platform allows institutions to settle repo trades and move tokenized collateral using distributed ledger technology. Broadridge also provides blockchain infrastructure for shareholder voting, tokenized securities and digital asset post trade services. According to Broadridge’s Aug. 10 announcement, average daily activity on the platform rose 28% from a year earlier as financial institutions continued using distributed ledger technology for repo settlement and collateral management. The New York-listed fintech operates the Distributed Ledger Repo platform, or DLR, as infrastructure that lets financial firms settle repurchase agreements through distributed ledger technology without replacing their existing trading and post-trade systems. Repo transactions are commonly used by financial institutions to obtain short-te...