HSBC Goes Live on Broadridge’s Distributed Ledger Repo Platform

HSBC is the latest client to go live on Broadridge Financial Solutions’ newly launched repo solution, built on its distributed ledger (DLT) enabled repo platform. It is the second entity to go live since the sponsored repo solution’s launch in early October. According to a story in The Trade news, users are set to see significant reduction in settlement costs, as well as streamlined processes and enhanced operational efficiency and scalability.  John Farrell, Americas head of markets operations at HSBC, said: “Digitising our existing sponsored repo trade flow and seamlessly integrating it into Broadridge’s DLR tech stack empowers us to enhance efficiencies, mitigate risks of transaction failures, and significantly lower settlement costs.