Broadridge Collaborates with Fnality to Enable Real-Time Settlement for Intraday Repo Transactions

Core Insights - Broadridge Financial Solutions and Fnality have successfully demonstrated interoperability between Broadridge's Distributed Ledger Repo (DLR) platform and Fnality's Payment System (FnPS), enhancing efficiency, liquidity, and risk reduction in financial markets [1][2][3] - The collaboration enables real-time delivery versus payment (DvP) settlement of intraday repo transactions, utilizing a digital representation of funds held at central banks [1][2] - This initiative is pivotal for the financial sector's growth and global competitiveness, supporting the transition towards real-time settlement [3] Company Overview - Broadridge Financial Solutions is a global fintech leader with over $6 billion in revenues, providing critical infrastructure for investing, corporate governance, and communications [4] - The company supports daily trading of more than$10 trillion in equities, fixed income, and other securities globally, employing over 14,000 associates in 21 countries [4] - Fnality is developing regulated DLT-based wholesale payment systems, with each system supervised by its respective central bank [6][7] Market Impact - The collaboration addresses the industry's demand for faster and more secure settlements, particularly in the U.S. and Europe [2][3] - The launch of Fnality Payment Systems (FnPS) will enable real-time cross-currency payments and secure atomic settlement of delivery versus payment transactions [7] - The Sterling FnPS, recognized as a systemically important payment system, commenced controlled live payments in December 2023, marking a significant milestone in regulated DLT-based wholesale payment systems [8][9]