Case Study: Broadridge makes repo trading safer and more efficient with Digital Asset's DLR solution

Broadridge makes the $10 trillion+ repo market safer with Digital Asset

Broadridge, a major financial services company, faced significant challenges in the $10 trillion+ repo market, which was characterized by operational inefficiencies, manual reconciliations, and costly settlement fails due to a lack of a single source of truth. This fragmentation resulted in millions of dollars in daily penalties and high capital costs for market participants. To address this, Broadridge partnered with vendor Digital Asset to create a transformative solution using distributed ledger technology.

The solution implemented by Digital Asset was the Broadridge Distributed Ledger Repo (DLR), built using the Canton blockchain and Digital Asset's Daml smart contract language. This platform provided a single, real-time ledger for all participants to agree, execute, and settle repo transactions simultaneously, removing risk and synchronizing workflows. The results included dramatically decreased transaction execution costs, substantially reduced risk from settlement fails, and the elimination of manual processes. Following a successful migration to Canton, the solution is now processing all transactions and is designed for widespread adoption and scale.

Broadridge