Broadridge finds first HQLA use case for DLR platform
16 September 2024 UK
Image: William/stock.adobe.com
A Tier-1 Canadian bank has implemented Broadridge Financial Solutions’ distributed ledger repo (DLR) platform for high-quality liquid asset (HQLA) treasury securities management.
This collaboration marks a significant milestone, says Broadridge, as the bank becomes the first to go live with this HQLA use case through DLR, showcasing the potential of distributed ledger technology (DLT) in transforming financial operations.
Horacio Barakat, head of digital innovation at Broadridge, comments: "As a trusted and transformative technology partner, we are thrilled to see another Tier-1 institution recognise the value of our DLR platform helping them operate, innovate and grow.
“This implementation not only simplifies their workflow and generates cost savings, but also lays the foundation for further DLT use cases that can drive even greater efficiencies and innovation in the financial sector."
According to Broadridge, the global expansion of the DLR platform across sell-side and buy-side firms is generating a network effect, amplifying benefits and supporting a wider variety of transaction types.
This collaboration marks a significant milestone, says Broadridge, as the bank becomes the first to go live with this HQLA use case through DLR, showcasing the potential of distributed ledger technology (DLT) in transforming financial operations.
Horacio Barakat, head of digital innovation at Broadridge, comments: "As a trusted and transformative technology partner, we are thrilled to see another Tier-1 institution recognise the value of our DLR platform helping them operate, innovate and grow.
“This implementation not only simplifies their workflow and generates cost savings, but also lays the foundation for further DLT use cases that can drive even greater efficiencies and innovation in the financial sector."
According to Broadridge, the global expansion of the DLR platform across sell-side and buy-side firms is generating a network effect, amplifying benefits and supporting a wider variety of transaction types.
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