Citi and ISS launch high frequency connection for Proxymity voting platform
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Citi and ISS launch high frequency connection for Proxymity voting platform 24 April 2019London Reporter: Jenna Lomax
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Citi has launched a high frequency connection to Proxymity SM, a digital proxy voting platform, developed through Citi's D10XSM programme, in collaboration with Institutional Shareholder Services (ISS).
Users of ISS’ research and voting platform, ProxyExchange, can now leverage the Proxymity
platform’s technology and algorithm for instant meeting notifications and extended voting deadlines, which can provide up to nine additional days for decision making.
ProxyExchange users will also receive timely post-meeting vote confirmations that their vote was cast at meetings.
According to Citi, these features can aid investors in their compliance with regulatory initiatives such as the European Union’s Shareholder Rights Directive II, and the focus on encouraging transparency in financial markets and empowerment for investors.
Dean Little, co-founder of the Proxymity platform at Citi, said: “The integration and use of Proxymity services with ProxyExchange is further testament to the vast potential of the platform.”
He added: “This collaboration shows how Proxymity can effectively be used without any change to the systems and workflows that ISS clients already know, like and trust. This is a significant win for all users.”
Lorraine Kelly, head of governance solutions at ISS, said: “ISS is committed to assisting our clients through all stages of the voting process and through the delivery of cutting-edge technology and is pleased to work with Proxymity in furtherance of this objective.”
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