Today Broadridge announced that UBS has joined its distributed ledger repo (DLR) platform. The blockchain solution was launched in early June and processes on average $35 billion in transactions a day.
DLR is one part of Broadridge’s fixed income platform, which supports $6 trillion in daily volumes and boasts 20 of the 24 primary dealers. According to SIFMA, the U.S. repo market size in terms of average daily outstanding balances was $4.5 trillion in 2020.
“We look forward to the enhanced liquidity and reduction of risk that Broadridge’s distributed ledger repo platform provides,” said Paul Chiappetta, Americas Chief Operating Officer of Group Treasury at UBS.
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