Broadridge’s proxy sub-custody services goes live in Switzerland
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Broadridge’s proxy sub-custody services goes live in Switzerland 28 October 2021Switzerland Reporter: Maddie Saghir
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Broadridge’s ‘golden copy’ event sourcing and proxy vote execution service for custodians and local agents is now live in Switzerland.
The new services mark a part of Broadridge’s ongoing worldwide rollout of its innovation programme to promote and enable high standards of corporate governance in local and global markets.
The Swiss service is the latest market-ready addition to Broadridge’s fast-growing sub-custody Direct Market Solutions (DMS) product suite that can directly connect investors and issuers.
According to Broadridge, its user community can now further enhance its services provided to Swiss market investors by enabling early receipt of issuer-verified event announcements.
They can also enable improved deadlines for submitting votes, confirmation of votes received by the issuer or its agent, and power of attorney services for both bearer and registered shares.
Issuers also benefit from a channel through which greater event information can be distributed directly to the investor, and voting transparency is enhanced as instructions can be received in a timelier manner, explains Broadridge.
Demi Derem, general manager, international investor communication solutions at Broadridge, comments: “This new local service offering for Switzerland is another market-level transformation, empowering all participants throughout the proxy voting lifecycle to transition to a more streamlined and efficient process.”
“Firms adopting our service for the Swiss market can now capitalise on straight-through processing automation, which extends their clients’ voting window while lowering overall voting costs through a mutualized shared service model,” adds Derem.
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