Broadridge Financial Solutions (NYSE: BR) reported that its Distributed Ledger Repo (DLR) platform processed $8.0 trillion in repo transactions during July, with an average daily volume (ADV) of $365 billion, according to a company statement.

The July ADV represents a 28% increase compared to the same period a year earlier.

DLR allows firms to settle repo transactions on distributed ledger technology while operating within existing trading and post-trade environments. The platform facilitates the movement of tokenized collateral across counterparties in real time.

"Tokenization is increasingly becoming part of how institutions optimize liquidity and collateral management," said Horacio Barakat, Global Head of Digital Innovation at Broadridge. "DLR continues to demonstrate that distributed ledger infrastructure can support the scale, reliability and interoperability required for core financing activity."

Broadridge, which is part of the S&P 500 Index and employs approximately 16,000 associates in 28 countries, says its platforms underpin the daily average trading of over $18 trillion in tokenized and traditional securities globally.