Alle Insights

The Token Is Not the Product: $351 Billion-a-Day Repo Shows Where Digital Securities Actually Matter

Broadridge’s Distributed Ledger Repo platform processed an average of $351 billion of repo transactions per day in August 2026 and is expanding from tokenised US Treasury collateral to G7 securities and cross-border repo. The significance is not that a bond received a token. Repo is exposing the more valuable use case: real-time collateral identity, encumbrance, eligibility, intraday mobility and synchronized delivery-versus-payment across existing institutional workflows.

Artikel lesen →

When Margin Moves Every Day: Why Collateral Eligibility Has Become a Live Asset State

Mainland China’s variation-margin requirements for in-scope non-centrally cleared derivatives took effect on 1 September 2026. The important change is not simply that more collateral must move. A security or cash balance can move repeatedly between available inventory, eligible collateral, haircut-adjusted value, posted margin, disputed margin, substituted collateral and returned collateral. That turns collateral eligibility from a static attribute into a live, counterparty-specific and...

Artikel lesen →