Broadridge expands DMS product suite into Denmark 12 September 2022Denmark Reporter: Lucy Carter
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Broadridge Financial Solutions (Broadridge) has launched its ‘golden copy’ event notification and direct vote execution services in Denmark.
Working with the Danish central securities depository, Euronext Securities Copenhagen (Euronext), the service streamlines the proxy voting cycle in an effort to make it more efficient. Supporting the Shareholder Rights Directive (SRD II) and Denmark’s updated Companies Act, the service is available to global and domestic banks, custodians, wealth managers, and local agents.
Through the solution, clients will receive timely and accurate receipt of meeting notifications, courtesy of Euronext. In addition, the service provides an extended voting window for underlying clients, and greater transparency throughout the voting process.
The Denmark-specific product joins Broadridge’s Direct Market Solutions (DMS) product suite, which provides support around traditional sub custody voting.
Niels Hjort Rotendahl, CEO of Euronext Securities Copenhagen, comments: “With ESG as a central component for investors, the need for governance and stewardship practices has never been stronger. Our collaboration with Broadridge will provide a more direct chain of proxy communications, and a higher level of service quality for all players.
“This comes at a pivotal time, due to recent changes to the Danish Companies Act removing the need to present Power of Attorney documents, which we anticipate will lead to a significant rise in shareholder participation at meetings.”
Demi Derem, general manager of international investor communications solutions at Broadridge, says: “Through close collaboration with Euronext, we have demonstrated the importance of partnering with market-leading infrastructure providers to deliver a best-in-class service that transforms and enhances the client experience, while reducing operating costs through our mutualised service model.”
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