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Société Générale is the Latest Global Bank to Join Broadridge’s Distributed Ledger Repo Platform

Société Générale is the Latest Global Bank to Join Broadridge’s Distributed Ledger Repo Platform

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.

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“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.”

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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.

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