Broadridge Shows Blockchain Can Play Instrumental Role in Repo Market
Posted: Tue Oct 17, 2017 7:28 am
Broadridge Financial Solutions, Inc. (NYSE:BR) has completed a test with Natixis and Societe Generale which uses blockchain technology to enhance the operational efficiency and auditability of bilateral repurchase, or repo, agreements.
The developers explain that the pilot utilizes distributed ledger technology capabilities to reduce operational risk for market participants by providing a secure record of repo trade details, reducing the need for reconciliation and removing obstacles to straight through processing. This new blockchain-enabled solution, which automates end-to-end processes, streamlines the repo agreement and confirmation processes, offers a faster and more accurate collateral substitution process, while eliminating time consuming manual interventions, ... (read more)