Broadridge
Financial Solutions (NYSE: BR) has announced two significant developments,
securing a major Canadian bank as the first adopter of its Distributed Ledger
Repo (DLR) platform for High-Quality Liquid Asset (HQLA) treasury securities
management, while also integrating its securities-based lending (SBL) tools
with Morningstar’s Advisor Workstation.

Broadridge’s DLR Platform
Hits $1 Trillion Monthly Volume

The
adoption of Broadridge’s DLR platform by a Tier-1 Canadian bank marks a
milestone in the application of Distributed Ledger Technology (DLT) to
financial operations. This implementation is expected to simplify workflows and
generate cost savings for the bank, potentially paving the way for broader DLT
applications in the financial sector.

“This
implementation not only simplifies their workflow and generates cost savings
but also lays the foundation for further DLT use cases that can drive even
greater efficiencies and innovation in the financial sector,” Horacio
Barakat, Head of Digital Innovation at Broadridge, commented.

The DLR
platform has been gaining traction in the global repo market, with monthly
transaction volumes reaching $1 trillion. Broadridge reports that the
platform’s expansion across sell-side and buy-side firms is creating a network
effect, amplifying benefits and supporting a wider variety of transaction
types.

This month,
Broadridge also hired Brian Pomraning as Chief Product Officer for Trading and
Connectivity. Before joining the company, he served as Chief Revenue Officer
for Exegy, having previously worked with Barclays and JP Morgan.

Morningstar and Broadridge
Join Forces

In a
separate move, Broadridge has integrated its Wealth Lending Network (WLN)
marketplace with Morningstar’s Advisor Workstation. This collaboration will
provide over 150,000 independent financial advisors with access to SBL tools,
allowing them to determine clients’ borrowing potential and connect with
partner banks to support lending needs.

“This
collaboration helps advisors respond to the growing demand for flexible,
simplified, and integrated financial solutions, including borrowing against
their securities portfolio,” Mike Alexander, President of Broadridge
Wealth Management, stated.

Advisors
can now offer more comprehensive services, potentially retaining assets under
management when clients need liquidity. Clients, in turn, gain an alternative
to liquidating investment portfolios, which can help preserve investment
strategies and avoid triggering potential capital gains taxes.

“Our
collaboration with Broadridge equips advisors with a tool for advanced lending
options, enabling them to provide a more comprehensive suite of services and
elevate the industry standard for the value advisors offer clients,” Vimal
Vel, Chief Product Officer for Enterprise Solutions at Morningstar, added.

Last month,
Broadridge also partnered with YCharts, a cloud-based investment research and
client communications platform.

This article was written by Damian Chmiel at www.financemagnates.com.

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