Broadridge expands global proxy sub-custody market services
01 September 2021 US
Image: sborisov/stock.adobe.com
Broadridge has expanded its Direct Market Solutions (DMS), a custodian-focused sourcing and vote execution platform, a part of its global proxy solution.
The DMS service is designed to improve market deadlines and extend voting windows by up to three days, allowing investors more time to make their elections.
This allows votes to be placed directly from the investor to the issuer or its agent in these markets.
The DMS will also reduce costs for custodians by mutualising event sourcing and execution across the industry, passing those savings to participating clients, Broadridge says.
In addition, DMS enables issuer market “golden copy” meeting information to be communicated to investors on the day of the meeting announcement, where required..
Demi Derem, general manager of international investor communication solutions at Broadridge, says: “Broadridge has advocated and invested in more efficient and innovative local market models through its DMS service, launched in 2015. Shareholder Rights Directive II (SRD II) obligated European issuers to provide the market with “golden copy” machine-readable issuer meeting information.
“Since SRD II was put into effect in September 2020, we have completed over 300 new retail and institutional client implementations and processed over 89,000 meetings for clients that trust in our global proxy credentials and ability to drive the market forward for the benefit of all participants.”
The DMS service is designed to improve market deadlines and extend voting windows by up to three days, allowing investors more time to make their elections.
This allows votes to be placed directly from the investor to the issuer or its agent in these markets.
The DMS will also reduce costs for custodians by mutualising event sourcing and execution across the industry, passing those savings to participating clients, Broadridge says.
In addition, DMS enables issuer market “golden copy” meeting information to be communicated to investors on the day of the meeting announcement, where required..
Demi Derem, general manager of international investor communication solutions at Broadridge, says: “Broadridge has advocated and invested in more efficient and innovative local market models through its DMS service, launched in 2015. Shareholder Rights Directive II (SRD II) obligated European issuers to provide the market with “golden copy” machine-readable issuer meeting information.
“Since SRD II was put into effect in September 2020, we have completed over 300 new retail and institutional client implementations and processed over 89,000 meetings for clients that trust in our global proxy credentials and ability to drive the market forward for the benefit of all participants.”
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