Clearstream has selected Proxymity’s Shareholder Disclosure Solution to further digitise its disclosure services, in compliance with the EU’s Shareholder Rights Directive II (SRD II).
The mandate will allow Clearstream clients to validate and automate shareholder ID requests from trusted sources in industry compliant formats, eliminating the need for manual intervention.
In recent months, the Shareholder Disclosure Solution has also been adopted by banks including HSBC.
Proxymity’s solutions ensure that investors receive “golden source” meeting announcements in real-time and are able to vote up until the market deadline.
SRD II has been implemented to strengthen the position of shareholders and to reduce short termism and excessive risk taking within companies traded on EU regulated markets.
Sam Riley, head of investor services and financing, Clearstream, comments: “At Clearstream, we always seek to optimise our clients’ experience throughout the whole securities life cycle. Together with our partner Proxymity, we are providing the best in digital disclosure solutions, driving transparency and efficiency in the European capital markets.”
Jonathan Smalley, co-founder and chief operating officer at Proxymity, says: “The launch of this service is a specific example of how we are working together to delivering services that improve the speed and quality of shareholder disclosure systems.”
