Broadridge Financial Solutions has expanded its Distributed Ledger Repo platform to cover G7 securities, pushing the system further into cross-border financing, intraday liquidity and collateral movement using atomic settlement. The expansion, confirmed on September 2, follows a month in which the platform processed an average of $351 billion in repo transactions daily, adding up to roughly $7.4 trillion for August alone, with thousands of transactions flowing through the network each day.
That volume sets Broadridge apart from most tokenisation efforts, which remain stuck at the pilot stage. Bringing G7 securities into scope opens the door to broader cross-border use, though it’s not yet clear from the August numbers how much of that activity already involves non-US assets. Whether the expansion meaningfully changes cross-border financing will come down to actual volumes in those assets, plus any gains in funding efficiency, intraday liquidity and settlement certainty that show up over the coming months.
The move lands amid a broader week of tokenisation and settlement infrastructure news. China brought variation-margin rules for uncleared derivatives into force on September 1, requiring banks, insurers and asset managers to exchange margin as market values shift, with cross-border recognition available where overseas regimes meet Basel-equivalent standards. The European Central Bank detailed Project Pontes, due to launch this month, which will connect market DLT platforms to the Eurosystem’s TARGET Services so tokenised transactions can settle in central-bank money, initially with finality still anchored in T2.
Elsewhere, the Reserve Bank of India reported $136.38 billion in inflows through its dollar-rupee swap facility, more than double the figure from two weeks earlier, largely on the strength of FCNR(B) deposits. Euroclear and HSBC unveiled AutoFX, a service that embeds foreign-exchange execution directly into securities settlement ahead of Europe’s planned move to T+1 in 2027. The London Stock Exchange said it’s assessing a tokenised UK equity structure built to preserve existing shareholder rights and governance standards, while separately exploring xStocks trading on LSE 24 from 2027.
Other developments included India’s National Investment and Infrastructure Fund reaching a $2 billion first close on its second infrastructure fund, Global X launching a tokenised Hong Kong ETF share class via Citi and OSL, the US SEC proposing its first major overhaul of transfer-agent rules since the 1980s to account for blockchain-based securities, and the Reserve Bank of Australia opening a consultation on settling tokenised assets against central-bank reserves.
Digital Trade Outlook’s View: Broadridge
The throughline across this week’s developments is that tokenisation is starting to be judged on operational volume rather than pilot novelty. Broadridge’s daily figures put a real number on what “at scale” looks like, and regulators in China, the EU, India and Australia are simultaneously building the collateral, margin and settlement plumbing that would let tokenised markets actually clear at that scale across borders. The institutions moving fastest are the ones treating settlement finality and collateral eligibility as the real bottleneck, not the distributed ledger itself.
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