NEW
YORK, June 30, 2022 /PRNewswire/ -- Leveraging
the latest technology to further transform its capital market
operations, Société Générale, is now live on the distributed ledger
technology repo platform (DLR) created by global Fintech leader,
Broadridge Financial Solutions, Inc. (NYSE:BR). The
blockchain-enabled platform accelerates the digitization of the
global repo market, empowering participants to realize immediate
benefits of reduced risk and operational costs and enhanced
liquidity. Société Générale's active engagement accelerates the
expansion of DLR's participant network and builds on the platform's
early success.
"We are excited to leverage the operational efficiencies,
benefit from real time visibility and have access to enhanced
liquidity that Broadridge's distributed ledger repo platform
provides," said Greg Zielinski,
Chief Operating Officer, Société Générale Americas. "This
partnership with Broadridge reinforces Société Générale's overall
strategy by leveraging blockchain technology to reduce and improve
efficiency in the financial markets – particularly the $10T global
bilateral repo market."
"Société Générale is an innovator in capital markets, and we're
excited to welcome them onto to this award winning DLR platform,"
said Vijay Mayadas, President of
Capital Markets at Broadridge. "Broadridge continues to drive the
transformation of repo market infrastructure with the distributed
ledger technology repo platform via the utilization of smart
contracts to digitize the trade agreement between counterparties
and leveraging digitized assets to reduce settlement cycles."
Built on Broadridge's leading fixed income platform that
processes over $8T per day, DLR couples emerging distributed ledger
and smart contract technology with existing operational account
structure functionality, enabling real-time securities mobility in
the repo market at scale. The rapid innovation in the repo markets
will result in a more efficient market infrastructure and increased
capital velocity.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with $5 billion in revenues,
provides the critical infrastructure that powers investing,
corporate governance, and communications to enable better financial
lives. We deliver technology-driven solutions that drive business
transformation for banks, broker-dealers, asset and wealth
managers, and public companies. Broadridge's infrastructure serves
as a global communications hub enabling corporate governance by
linking thousands of public companies and mutual funds to tens of
millions of individual and institutional investors around the
world. Our technology and operations platforms underpin the daily
trading of more than U.S. $9 trillion
of equities, fixed income and other securities globally. A
certified Great Place to Work®, Broadridge is part of the S&P
500® Index, employing over 13,000 associates in 21 countries. For
more information about us please visit broadridge.com.
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
+1 516-472-5129
Edings.Thibault@Broadridge.com
Media:
Gregg
Rosenberg
Corporate Communications, Broadridge
+1 212-973-6966
Gregg.rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.