Broadridge launched DLX on 9 September as an operating layer for tokenised and traditional market workflows. It combines multi-chain connectivity, smart-contract creation and distribution with issuance, trading, settlement, servicing, governance and custody functions for banks, broker-dealers, asset managers and other institutions.[1]
DLX is broader than Broadridge’s existing Distributed Ledger Repo service. Broadridge says DLR processes more than $350 billion of daily activity and provides a production foundation for collateral mobility and securities financing. That figure belongs to DLR; it is not evidence that DLX has already processed the same volume across bonds, equities, funds or private assets.[1]
Lifecycle modules and responsibility boundaries
DLX operating layers
| Layer | DLX capability described by Broadridge | Responsibility that remains outside the headline |
|---|---|---|
| Issuance | Minting, issuing, servicing and distributing tokenised instruments | Legal validity, offering documents and investor eligibilitySource 1 |
| Trading and orchestration | Connections between execution, books and records, payments and market infrastructure | Venue authorisation, best execution and counterparty controlsSource 1 |
| Settlement | On-chain and off-chain workflow coordination | Cash-leg finality, cut-offs and failure proceduresSource 1 |
| Custody | Self-custody, third-party custody and hybrid models | Private-key governance, insolvency treatment and asset segregationSource 1 |
| Network access | Canton connectivity and planned connection to DTCC Tokenization Service, plus other networks | Automatic access to every chain, asset or DTCC serviceSource 1 |
The architecture targets a real source of friction: tokenised assets can use different networks, wallets, custodians, compliance providers and record systems. An orchestration layer can standardise interfaces and lifecycle events, but it does not make those components legally interchangeable. A token on one network may represent a different claim, transfer regime or custody arrangement from a token with a similar label elsewhere.[1]
Broadridge describes a connection to the DTCC Tokenization Service through Canton, alongside other networks and custody models. For a broker, the practical value will depend on how those connections feed transfers, cash settlement and corporate actions back into its books and records. The announcement does not provide a separate DLX transaction-volume series.[1]
Sources & further reading
- Broadridge launches DLX Broadridge · 9 Sep 2026 · Accessed 30 Oct 2026