Broadridge Financial Solutions reported that its Distributed Ledger Repo (DLR) platform processed an average of $368 billion in daily repo transactions during November 2025, a 466% year‑over‑year increase from the $65 billion daily average recorded in November 2024. The platform’s total November volume reached $7.4 trillion, underscoring the rapid adoption of tokenized settlement across the $10 trillion repo market.
The jump in volume reflects a broader shift toward tokenization in capital markets, where digital settlement promises greater efficiency, liquidity, and transparency. Broadridge’s DLR platform, a shared‑ledger solution that enables institutions to clear and settle repo trades at scale, has become the default infrastructure for many banks and asset managers moving to digital settlement. The 466% growth is driven by a surge in institutional demand for faster, more secure repo transactions and the expansion of tokenized repo products offered through the platform.
Horacio Barakat, Head of Digital Innovation at Broadridge, said the platform’s performance demonstrates the “real‑world transformation” of tokenization, “unlocking new levels of efficiency, liquidity, and investor access.” Barakat’s comments highlight how the platform’s success aligns with Broadridge’s broader strategy to convert legacy proxy and trade‑processing businesses into a scalable, platform‑based model.
The milestone also signals a competitive advantage for Broadridge. By handling $368 billion of daily volume, the company solidifies its position as a leading infrastructure provider in the emerging tokenized repo market, potentially attracting more participants and accelerating the adoption of digital settlement. The growth trajectory—moving from $65 billion to $368 billion in a single year—illustrates the platform’s rapid scaling and the market’s willingness to shift to blockchain‑enabled settlement.
While the announcement did not trigger a specific market reaction, the data reinforce investor confidence in Broadridge’s digital transformation initiatives. The company’s focus on tokenization, combined with its proven ability to scale the DLR platform, positions it to capture a larger share of the $10 trillion repo market’s digital future.
The achievement underscores the broader trend of tokenization in capital markets, driven by the promise of increased efficiency, liquidity, and transparency. Broadridge’s continued investment in the DLR platform and its strategic partnership with leading financial institutions signal a clear path toward a more digitized, resilient repo market.
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