Broadridge Financial Solutions, Inc. (NYSE:BR) announced today that UBS (NYSE:UBS) has successfully executed the first cross-border intraday repo transaction on Broadridge's Distributed Ledger Repo (DLR) platform. The transaction was executed in cooperation with a 'global Asian bank' that was not disclosed.

UBS Completes First Intraday Repo Transaction on Broadridge's Platform

This milestone by UBS marks the launch of the next phase in the rollout of Broadridge's DLR platform and is a significant step forward in providing a more efficient means of intraday liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management.

The global expansion of the DLR platform across sell-side and buy-side firms creates a network effect of increased benefits and additional transaction types. Broadridge is a leader in bringing the advantages of distributed ledger capabilities to the global repo market, capturing $1 trillion in monthly volume.

Beatriz Martin, UBS's Group Treasurer, stated that intraday repo is crucial for managing liquidity usage and enhancing funding capabilities with reduced operational risk. UBS has established itself as an early adopter of the Distributed Ledger platform.

According to the latest data from February, Broadridge's DLR platform processes $1 trillion worth of transactions each month. The service has been on the market since mid-2021 and has grown to $50 billion in daily volumes since its inception. UBS became one of the first members of the platform, joining in August 2021.

UBS Joins Broadridge’s Distributed Ledger Repo Platform https://t.co/qlEctYEqfi #Finance #News pic.twitter.com/Uf5FTW7N29

— Finance Magnates (@financemagnates) August 9, 2021

The DLR platform enables market participants to agree, execute, and settle repo transactions, offering flexible settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term cycles based on counterparties' needs. It considerably increases settlement velocity and collateral mobility, making intraday transactions possible, and reduces the operating cost and risk of all repo activity, including overnight and term repos.

"This is the next step in executing on our vision of transforming global repo market infrastructure. We are empowering leading financial institutions like UBS with the ability to dramatically lower risk and operating costs and see enhanced liquidity," Horacio Barakat, the Head of Digital Innovation at Broadridge, commented.

Long List of Broadridge's Partners

In recent months, Finance Magnates has repeatedly reported on new projects and collaborations in which Broadridge is involved. In March, Broadridge partnered with Atlas for enhanced impact investing solutions, with Apex Silver to enhance tax experience for wealth managers, and with CQG to offer a trading technology suite for institutional customers.

In late February, Broadridge announced that it was expanding its European sales team by hiring Guillaume Bunouf and Alvaro Del Pino Aguilera, who are responsible for identifying growth opportunities in the Old Continent.

According to the latest financial information released by Broadridge, the company generated $1.3 billion in revenue in the last three months of 2022. In addition, the recurring revenue increased by 6 percent to $840 million.