Broadridge repo platform hits USD $7.5 trillion in September

Broadridge's Distributed Ledger Repo platform processed USD $7.5 trillion in repo transactions in September, handling an average of USD $359 billion a day.

The figures suggest continued growth in the use of tokenised infrastructure for securities financing, where financial institutions have been testing whether distributed ledger systems can support large transaction volumes in routine market activity.

Repo transactions are a core part of wholesale funding markets, allowing firms to borrow cash against securities collateral, often on a very short-term basis. The scale reported by Broadridge makes its platform one of the larger examples of tokenised activity being used in established capital markets workflows rather than in pilot projects.

Broadridge linked the latest DLR volumes to a broader expansion of its digital asset business through DLX, a platform it recently launched for tokenisation and digital asset processing across a wider set of functions.

Broader push

DLX is designed to extend beyond securities financing into areas including issuance, trading, settlement, servicing, custody, governance and distribution. Broadridge said it uses a modular, multi-chain structure and a common operating layer intended to connect traditional market activity with on-chain processing.

That positions DLR as a foundation for a wider strategy in which repo serves as a practical use case for tokenised financial infrastructure. By moving from a single market application to a broader platform approach, Broadridge is seeking to position itself in a market where banks, custodians and market infrastructure providers are trying to integrate digital asset processes into existing operating models.

Horacio Barakat, Global Head of Digital Innovation at Broadridge, said the latest figures show the repo platform has already reached institutional scale.

"DLR has demonstrated that tokenized market infrastructure can operate at the scale and consistency required for core institutional activity," said Horacio Barakat, Global Head of Digital Innovation at Broadridge.

He said that record underpins the company's wider tokenisation plans.

"That real-world foundation is allowing us to take the next step with DLX, extending the infrastructure and operating experience we've built in repo to a broader range of assets and workflows. This makes it possible for institutions to bring tokenization into more parts of their business through infrastructure that seamlessly connects with how markets already operate," Barakat said.

Market context

Broadridge described DLR as the largest institutional platform for settling tokenised real assets. It said the system supports repo transactions, intraday repo activity, collateral movements, settlement and servicing.

The wider tokenisation market has drawn interest from financial institutions looking for ways to shorten settlement times, improve collateral mobility and reduce manual reconciliation between systems. Much of that work has remained limited to pilots or selected asset classes, so reported transaction volumes in a live production environment are being closely watched by banks and investors assessing whether the technology can be used at scale.

Broadridge also said its governance platform supports different models of tokenised securities, including issuer-listed structures, synthetic securities issued outside the United States, and third-party tokenised shares within the United States. It said this is intended to preserve investor rights and protections regardless of how a tokenised asset is structured or held.

Broadridge's broader technology and operations platforms process more than 8 billion communications a year and underpin daily average trading of more than USD $18 trillion in tokenised and traditional securities globally. The company employs about 16,000 staff across 28 countries.

The latest DLR figure, USD $359 billion in average daily volume, provides a benchmark for how far tokenised repo has moved into routine institutional processing.