BME launches digital proxy voting service in partnership with Proxymity
07 February 2022 Spain
Image: ASDF
BME has launched its digital proxy voting service for shareholders’ meetings in partnership with Proxymity.
The new solution, accessible through Iberclear, BME’s central securities depository, connects participant entities and issuers to speed up the voting process at shareholders' meetings.
The service will allow the management of shareholders' meetings that take place on domestic securities, cross border services securities and foreign securities not held by Iberclear.
The partnership with BME and Proxymity means that investors will receive “golden source” meeting announcements direct from issuers in real time and be able to vote right through to the market deadline.
The launch of the platform was first announced in December 2021.
Jesús Benito, CEO of Iberclear, says: "This solution has been developed in response to the demands from our issuers and participants. We can now offer a real-time, sustainable, and transparent digital solution that puts issuers and participants in greater control of their meetings. Building on technology and the experience of our technological partner Proxymity, we are delivering end-to-end digital proxy voting in Spain.”
Jonathan Smalley, chief operating officer at Proxymity, comments: “We’re delighted to work with BME and Iberclear on this industry-leading project. The deployment of Proxymity’s platform not only brings Shareholder Rights Directive II compliance, but also real and immediate benefits for the Spanish market, as well as delivering true end-to-end digital proxy voting.”
The new solution, accessible through Iberclear, BME’s central securities depository, connects participant entities and issuers to speed up the voting process at shareholders' meetings.
The service will allow the management of shareholders' meetings that take place on domestic securities, cross border services securities and foreign securities not held by Iberclear.
The partnership with BME and Proxymity means that investors will receive “golden source” meeting announcements direct from issuers in real time and be able to vote right through to the market deadline.
The launch of the platform was first announced in December 2021.
Jesús Benito, CEO of Iberclear, says: "This solution has been developed in response to the demands from our issuers and participants. We can now offer a real-time, sustainable, and transparent digital solution that puts issuers and participants in greater control of their meetings. Building on technology and the experience of our technological partner Proxymity, we are delivering end-to-end digital proxy voting in Spain.”
Jonathan Smalley, chief operating officer at Proxymity, comments: “We’re delighted to work with BME and Iberclear on this industry-leading project. The deployment of Proxymity’s platform not only brings Shareholder Rights Directive II compliance, but also real and immediate benefits for the Spanish market, as well as delivering true end-to-end digital proxy voting.”
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