Broadridge Announces Go-Live of Global Proxy Sub-Custody Services in Switzerland

Rhea-AI Summary

Broadridge Financial Solutions (NYSE:BR) has launched its 'golden copy' event sourcing and proxy vote execution service in Switzerland as part of its global innovation program aimed at enhancing corporate governance. This new service is designed for custodians and local agents, providing efficient proxy voting processes and enabling straight-through processing automation. The service allows for early receipt of issuer-verified event announcements, improved voting deadlines, and enhanced voting transparency. Broadridge aims to expand its proxy processing coverage to more markets in 2022 and 2023.

Positive

• Launch of 'golden copy' service enhances proxy voting efficiency in Switzerland.
• Enables straight-through processing automation, extending clients' voting windows.
• Increased voting transparency and early access to issuer information benefits investors.

Negative

• None.

NEW YORK and LONDON, Oct. 28, 2021 /PRNewswire/ -- As part of the ongoing worldwide rollout of its innovation program to promote and enable the highest standards of corporate governance in local and global markets, Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the live operational availability of its "golden copy" event sourcing and proxy vote execution service for custodians and local agents in Switzerland.

The Swiss service is the latest market-ready addition to Broadridge's fast-growing sub-custody Direct Market Solutions (DMS) product suite that can directly connect investors and issuers.

"This new local service offering for Switzerland is another market-level transformation, empowering all participants throughout the proxy voting lifecycle to transition to a more streamlined and efficient process," said Demi Derem, GM, International Investor Communication Solutions at Broadridge. "Firms adopting our service for the Swiss market can now capitalize on straight-through processing automation, which extends their clients' voting window while lowering overall voting costs through a mutualized shared service model."

Broadridge's extensive user community – global and local custodian banks, brokers, wealth managers and central securities depositories (CSDs) - can now further enhance their services provided to Swiss market investors by enabling early receipt of issuer-verified event announcements, improved deadlines for submitting votes, confirmation of votes received by the issuer or its agent, and power of attorney services for both bearer and registered shares. Issuers also benefit from a channel through which greater event information can be distributed directly to the investor, and voting transparency is enhanced as instructions can be received in a timelier manner.

Broadridge recently announced its expanded coverage for proxy processing and extended voting windows for 20 sub-custody markets in 2021, with more markets to follow in 2022 and 2023. This complements Broadridge's existing leading global voting solutions that already provide 100% coverage across 100+ markets.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work^®, Broadridge is part of the S&P 500^® Index, employing over 13,000 associates in 21 countries. For more information about us, please visit broadridge.com.

Investors:
W. Edings Thibault
Investor Relations
+ 1 516-472-5129
Edings.thibault@broadridge.com

Media:
Gregg Rosenberg
Corporate Communications
+1 212-918-6966
Gregg.rosenberg@broadridge.com

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What recent service did Broadridge launch in Switzerland?

Broadridge launched its 'golden copy' event sourcing and proxy vote execution service in Switzerland.

How does the new service benefit proxy voting?

The service streamlines the proxy voting process and enhances voting efficiency while lowering costs.

What is Broadridge's stock symbol?

Broadridge's stock symbol is BR.

What markets will Broadridge expand its proxy processing services to?

Broadridge plans to expand its proxy processing coverage to 20 sub-custody markets in 2022 and 2023.

What revenue does Broadridge Financial Solutions report?

Broadridge Financial Solutions reports revenues of $5 billion.