# Settle repo trades same-day on a shared ledger

> Broadridge Financial Solutions operates Distributed Ledger Repo, a platform on which the repo trade, the collateral transfer and settlement are executed as a single atomic event. Participants including UBS and Société Générale use the platform in production; the collateral stays with the custodian while its digital representation moves on the ledger. According to the company, the platform processed an average of around USD 357 billion per day in June 2026, totalling some USD 7.5 trillion for the month.

**Sector:** Tertiary sector · **Industry:** Banking and financial services · **Organisation:** Broadridge Financial Solutions, Inc. · **Maturity level:** Production

Canonical URL: https://www.sapientblock.com/en/use-cases/broadridge-financial-solutions-repo-geschaefte-taggleich-gemeinsamen-register

## Documentation status

- **Project status:** Production
- **Evidence:** Evidence medium
- **Editorial review:** pending

## Description

Broadridge Financial Solutions operates a platform called Distributed Ledger Repo, on which banks execute repo transactions and the associated collateral transfer in a single process. In the traditional repo market, collateral is moved through custody chains, so trading and settlement occur at different times, creating corresponding counterparty and liquidity risks. On the shared platform, the collateral remains with the custodian while its digital representation is moved, making intraday transactions practicable.

Broadridge launched the platform in mid-2021 and shortly thereafter reached an average weekly volume of around 31 billion US dollars. The core technical feature is that repo transactions, collateral transfer, and settlement are executed as a single atomic, tokenised process and therefore cannot be separated. The underlying collateral does not leave the custodian; only its digital representation is moved, which leaves the legal framework intact and simultaneously enables genuine intraday repo. Active participants publicly confirmed include UBS and Société Générale. According to the company, in June 2026 the platform processed an average of around 357 billion US dollars per day, equating to about 7.5 trillion US dollars per month; in December, the monthly volume was nearly nine trillion US dollars with a daily average of around 384 billion US dollars. Since 2026, DLR data has also been provided via the Bloomberg Terminal, making the platform visible to market participants who are not directly connected.

## Benefits

- Reduced liquidity tied up for settlement buffers.
- Shorter-term and more precise management of collateral.
- Trading, collateral transfer, and settlement are combined in a single atomic process.
- The collateral remains with the custodian, so the legal framework remains unchanged.
- Intraday repo becomes operationally feasible rather than just theoretically possible.
- With monthly volumes in the trillion range, viability in core business is demonstrated.
- Fewer manual instruction and reconciliation steps in the back office.
- A unified view of the collateral status for all parties involved.

## Challenges

- The benefit depends on having enough counterparties connected.
- The legal linkage between the custodied collateral and its digital representation must be robustly clarified in every jurisdiction.
- Integration into existing trading and collateral management systems of banks is complex.
- Volume figures change continuously and should be checked against the most current source before publication.
- Treasury and back office must adjust their planning and control routines to intraday cycles.

## Technology foundation

The platform is based on enterprise-grade distributed ledger technology that combines trading, collateral transfer, and settlement in a single atomic transaction. A distributed ledger is the crucial component here because counterparty and custodian must see the same state of the collateral for intraday repo to be possible without additional settlement risk.

## Sources

- [Distributed Ledger Repo Solutions](https://www.broadridge.com/capability/middle-and-back-office-solutions/post-trade-processing/distributed-ledger-repo-solutions)
- [Broadridge's Distributed Ledger Repo Processes $7.5 Trillion in June](https://www.broadridge.com/press-release/2026/broadridges-dlr-processes-over-7-trillion-in-june)
- [Broadridge's Distributed Ledger Repo Platform Processes Nearly $9 Trillion in December](https://www.broadridge.com/press-release/2026/broadridge-distributed-ledger-repo-platform-december)
- [Broadridge releases DLR repo data on Bloomberg Terminal](https://www.securitiesfinancetimes.com/securitieslendingnews/repoarticle.php?article_id=228809)