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Broadridge Collaborates With Fnality to Enable Real-Time Settlement for Intraday Repo Transactions
Global Fintech leader Broadridge Financial Solutions Inc. (NYSE: BR), today announced the completion of a successful collaboration with Fnality, a blockchain-based wholesale payments firm, demonstrating interoperability between Broadridge’s Distributed Ledger Repo (DLR) platform and Fnality’s Payment System (FnPS), showcasing the transformative power of tokenization in financial markets. This work paves the way for real-time delivery versus payment (DvP) settlement of intraday repo transactions, leveraging a digital representation of funds held at central banks – a vital enabler of digital financial markets – as a settlement rail.
“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. “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.”
This successful use case marks a significant development in bringing greater efficiency, liquidity and risk reduction to financial markets in both the U.S. and Europe, while addressing the industry’s growing demand for faster and more secure settlements.
“The move towards instantaneous settlement will be pivotal in strengthening the financial sector’s growth and global competitiveness,” said Michelle Neal, CEO of Fnality International. “Fnality and Broadridge are at the forefront of this evolution, providing the critical infrastructure needed to support accelerated settlement and unlock new efficiencies across global financial markets.”
This initiative underscores Broadridge’s strategic objective to expand its DLR client base in Europe while supporting the broader industry transition toward real-time settlement. For Fnality, this aligns with its roadmap to extend its regulated DLT-based wholesale payment system beyond the UK, with the U.S. as a priority market.
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