Broadridge Financial Solutions Inc., a provider of trade processing technology, says it's bringing blockchain to the repurchase-agreement market.

In a recent pilot with Societe Generale and Natixis, the firm said it found that distributed-ledger technology can make repo trades more efficient and less risky by providing a secure record of transaction details. Under a repo agreement, one party offers a security as collateral for a cash loan. Securities dealers use repos to finance holdings and increase leverage.

“This new blockchain-enabled solution, which automates end-to-end processes, streamlines the repo agreement and confirmation processes, offers a faster and more accurate collateral substitution process, while eliminating time consuming manual interventions, and reduces counterparty risk while increasing auditability,”' Broadridge said in a statement.