Soci茅t茅 G茅n茅rale joins Broadridge鈥檚 DLR platform
29 June 2022 UK
Image: kugelwolf/stock.adobe.com
Soci茅t茅 G茅n茅rale has gone live on Broadridge鈥檚 distributed ledger technology repo platform (DLR) to further transform its capital markets operations.
The blockchain-enabled platform aims to accelerate the digitisation of the global repo market to reduce risk and operational costs and enhance liquidity.
Broadridge launched its DLR platform in June 2021 and this executed US$25 billion in average daily volume during the first week of the go-live date.
Built on Broadridge鈥檚 fixed income platform that processes over US$8 trillion per day, DLR couples emerging distributed ledger and smart contract technology with existing operational account structure functionality.
This enables real-time securities mobility in the repo market at scale. The innovation of the repo markets will result in a more efficient market infrastructure and increased capital velocity, according to Broadridge.
Commenting on the announcement, Greg Zielinski, chief operating officer at Soci茅t茅 G茅n茅rale Americas, says: 鈥淲e are excited to leverage the operational efficiencies, benefit from real time visibility and have access to enhanced liquidity that Broadridge鈥檚 distributed ledger repo platform provides.
鈥淭his partnership with Broadridge reinforces Soci茅t茅 G茅n茅rale鈥檚 overall strategy by leveraging blockchain technology to reduce and improve efficiency in the financial markets 鈥� particularly the US$10 trillion global bilateral repo market.鈥�
Vijay Mayadas, president of capital markets at Broadridge, adds: 鈥淪oci茅t茅 G茅n茅rale is an innovator in capital markets, and we are excited to welcome them onto this DLR platform.
鈥淏roadridge continues to drive the transformation of repo market infrastructure with the distributed ledger technology repo platform via the utilisation of smart contracts to digitise the trade agreement between counterparties and leveraging digitised assets to reduce settlement cycles.鈥�
The blockchain-enabled platform aims to accelerate the digitisation of the global repo market to reduce risk and operational costs and enhance liquidity.
Broadridge launched its DLR platform in June 2021 and this executed US$25 billion in average daily volume during the first week of the go-live date.
Built on Broadridge鈥檚 fixed income platform that processes over US$8 trillion per day, DLR couples emerging distributed ledger and smart contract technology with existing operational account structure functionality.
This enables real-time securities mobility in the repo market at scale. The innovation of the repo markets will result in a more efficient market infrastructure and increased capital velocity, according to Broadridge.
Commenting on the announcement, Greg Zielinski, chief operating officer at Soci茅t茅 G茅n茅rale Americas, says: 鈥淲e are excited to leverage the operational efficiencies, benefit from real time visibility and have access to enhanced liquidity that Broadridge鈥檚 distributed ledger repo platform provides.
鈥淭his partnership with Broadridge reinforces Soci茅t茅 G茅n茅rale鈥檚 overall strategy by leveraging blockchain technology to reduce and improve efficiency in the financial markets 鈥� particularly the US$10 trillion global bilateral repo market.鈥�
Vijay Mayadas, president of capital markets at Broadridge, adds: 鈥淪oci茅t茅 G茅n茅rale is an innovator in capital markets, and we are excited to welcome them onto this DLR platform.
鈥淏roadridge continues to drive the transformation of repo market infrastructure with the distributed ledger technology repo platform via the utilisation of smart contracts to digitise the trade agreement between counterparties and leveraging digitised assets to reduce settlement cycles.鈥�
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