Broadridge disclosed that its Distributed Ledger Repo (DLR) platform processed an average of $385 billion in daily repo transactions in October 2025, up 13% from September’s $339 billion and representing a 492% year‑over‑year increase from the $65 billion recorded in October 2024. The jump places the platform at the top of institutional repo volumes and underscores the rapid uptake of tokenized settlement in the capital‑markets ecosystem.
The growth is driven by a combination of regulatory momentum, client demand for faster and more transparent settlement, and the platform’s ability to handle high‑volume, high‑frequency trades. Broadridge’s DLR solution, built on distributed ledger technology, offers near‑real‑time settlement and reduced counterparty risk, features that have attracted a growing roster of institutional participants seeking to modernize legacy repo workflows.
The DLR platform falls within Broadridge’s Global Technology and Operations (GTO) segment, which focuses on high‑margin, recurring‑revenue services. The record volume signals a strengthening of GTO’s recurring revenue stream and supports the company’s broader strategy to expand high‑margin, high‑volume offerings. While the company’s overall financials for the quarter are not detailed here, the platform’s performance is expected to contribute positively to fee income and margin expansion.
Management highlighted the platform’s role in driving recurring revenue growth, noting that the DLR solution aligns with the company’s focus on high‑volume, high‑margin services. The company’s 2025 Tokenization Survey indicates that more than 80% of early adopters view tokenization as a catalyst for deeper client engagement and operational efficiency, reinforcing the strategic importance of the DLR platform.
Broadridge’s position as the world’s largest institutional platform for settling tokenized real assets gives it a competitive edge over emerging crypto‑centric settlement providers. The platform’s scale and institutional focus differentiate it from smaller, less regulated competitors. However, the company acknowledges potential headwinds, including a projected drop in event‑driven revenues that could temper overall earnings momentum in the near term.
The record daily volume is expected to translate into higher fee income and an expanded client base, reinforcing Broadridge’s moat in the capital‑markets technology space. The platform’s continued growth signals that the firm is well positioned to capture the broader shift toward distributed ledger‑based settlement, positioning it for sustained revenue expansion and margin improvement in the coming years.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.