Broadridge Financial Solutions and blockchain-based payments firm Fnality said last week that they have completed a successful interoperability trial between their platforms, paving the way for real-time settlement of intraday repo transactions in the U.S. and Europe.
Broadridge and Fnality to Collaborate On Real-Time Settlement for Intraday Repo Transactions
The collaboration integrates Broadridge’s Distributed Ledger Repo (DLR) platform with Fnality’s Payment System (FnPS), enabling delivery versus payment (DvP) using digital representations of funds held at central banks.
Broadridge said in a press release that the initiative is expected to improve efficiency, optimise liquidity management, and reduce operational risk in repo markets.
“This leap forward is a key milestone in expanding our DLR platform interoperability to digital cash solutions and underscores our commitment to delivering innovative, cutting-edge solutions for our clients,” said Horacio Barakat, Head of Capital Markets Innovation at Broadridge.
He added: “Together with Fnality, our solution will empower institutions to simplify and optimize their liquidity management, reduce operational risk and drive greater efficiency in repo transactions.”
The firm believes the initiative reflects growing market demand for faster, safer, and more efficient settlement infrastructure, particularly in light of the industry’s move toward tokenised assets and digital cash.
Michelle Neal, CEO of Fnality International, added: “The move towards instantaneous settlement will be pivotal in strengthening the financial sector’s growth and global competitiveness.”
Neal also feels that Fnality and Broadridge are at the forefront of this evolution.
For Broadridge, the partnership forms part of its strategy to grow its DLR client base in Europe. For Fnality, it supports plans to expand its regulated distributed ledger payment system to the US.
