Tokenisation transforms liquidity management for global banks

Broadridge’s Distributed Ledger Repo platform accelerates collateral velocity and cuts clearing fees.

At the sidelines of the Singapore FinTech Festival 2025, Broadridge’s Global Head of Digital Innovation Horacio Barakat said tokenisation has moved well past experimentation and is now reshaping how global financial institutions manage liquidity, capital, and collateral across markets.

Barakat highlighted that Broadridge’s Distributed Ledger Repo (DLR) platform — once a pilot initiative — has now reached industrial scale. “[It is now] transacting over 300 billion in notional of tokenised repos every day,” he said. With more than US$7 trillion in monthly transactions now flowing through the system, he described the milestone as evidence that “we have reached a significant scale as it relates to putting tokenisation into production.”

According to Barakat, the platform’s greatest impact lies in efficiency gains across repo and fixed-income markets. “It certainly increases their efficiency as it relates to repo and fixed income trading, it definitely increases the velocity of the collateral,” he said.

He added that DLR’s design brings three measurable advantages for market participants. “Given that we mobilise collateral at its existing… location, it brings significant reduction of clearing fees.” In addition, the platform “increases operational efficiency, for example, reducing the number of fails, decreasing the number of errors and potential for mistakes in the… transaction.” The third benefit, and the most impactful, is improved capital efficiency. “It causes a significant reduction in capital buffer requirements… every dollar that you save on capital you know can be utilised somewhere else.”

Barakat said Asia is emerging as a crucial engine for digital-market adoption, with Singapore and Hong Kong playing complementary leadership roles. “These markets… are highly innovative,” he said, citing both their forward-leaning financial institutions and proactive regulators. “The creators of the innovation, the regulators of the innovation, are working in unison… and we are seeing a lot of appetite from institutions and actual regulars around our distributed ledger repo platform.”