UBS and an Asian bank have executed the first cross-border intraday repo transaction on Broadridge’s blockchain-enabled Distributed Ledger Repo (DLR) platform. The platform provides a utility where market participants can agree, execute, and settle repo transactions, providing flexible settlement cycles based on counterparties’ needs. The DLR Repo platform significantly increases settlement velocity and collateral mobility, making intraday possible. The platform also reduces the operating cost and risk of all repo activity, including overnight and term repos.
