Broadridge Expands Global Proxy Sub-Custody Market Services

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) announced a significant expansion of its Direct Market Solutions, enhancing its Global Proxy service. This expansion includes coverage of 20 key markets, improving voting windows by up to three days, and reducing costs for custodians. Since the implementation of the Shareholder Rights Directive II in September 2020, Broadridge has processed over 89,000 meetings. With over $4.5 billion in revenue, Broadridge continues to innovate corporate governance and investor communication.

Positive

• Expanded coverage to 20 key markets, representing ~50% of global meetings.
• Extended voting windows by up to three days for investors.
• Cost reductions for custodians, leading to savings for clients.

Negative

• None.

NEW YORK and LONDON, Sept. 1, 2021 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the significant expansion of its Direct Market Solutions (DMS), a custodian focused local market "golden copy" event sourcing and vote execution service extension to Broadridge's leading Global Proxy solution. The innovation in DMS services is across three areas:

• Grows coverage to 20 key markets in 2021 (which represents the significant majority of client holdings and ~50% of global meetings) with more markets to follow in 2022 and 2023. This complements Broadridge's existing leading voting solutions that already provide 100% coverage across 100+ markets
• Improves market deadlines and extends voting windows by up to three days, allowing investors more time to make their elections
• Reduces costs to custodians due to Broadridge's ability to mutualise event sourcing and execution across the industry, and pass those savings to participating clients

DMS enables issuer market "golden copy" meeting information to be communicated to investors on the day of the meeting announcement, where required.  It also extends the voting window by up to 3 days for investors by removing market inefficiencies in the traditional voting process, allowing votes to be placed directly from the investor to the issuer or its agent in these markets.

"Today's announcement is part of our ongoing innovation to enable higher standards of corporate governance and investor stewardship," said Demi Derem, GM, International Investor Communication Solutions at Broadridge. "Broadridge has long 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 continually drive the market forward for the benefit of all participants."

DMS markets covered in 2021 include Australia, Belgium, Canada, Denmark, France, Germany, Hong Kong, Ireland, Italy, Japan, Malaysia, Netherlands, New Zealand, Saudi Arabia, Singapore, Spain, Switzerland, Taiwan, UK and US.

With its track record of over 30 years leading the industry in voting-related managed services, Broadridge has the scale, global coverage, and the ability to provide an iron-clad, multi-lingual 24/7 client service solution that enables every vote to get to the right place at the right time. The investments involved in building this infrastructure are substantial, but Broadridge is deeply committed to making sure its clients always get the most advanced voting service possible.

ABOUT BROADRIDGE
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions to 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. In addition, Broadridge's technology and operations platforms underpin the daily trading of on average more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 13,000 associates in 21 countries. For more information about us and what we can do for you, please visit www.broadridge.com

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

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

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What new markets did Broadridge expand to in 2021?

Broadridge expanded its Direct Market Solutions to 20 key markets, including Australia, Canada, Germany, and the UK.

How has the voting process improved with Broadridge's new services?

Voting windows have been extended by up to three days, allowing investors more time to make elections.

What financial metrics does Broadridge have?

Broadridge reported over $4.5 billion in revenues.

How many meetings has Broadridge processed since September 2020?

Broadridge has processed over 89,000 meetings since the Shareholder Rights Directive II was implemented.

What is the significance of the Shareholder Rights Directive II for Broadridge?

It mandates issuers to provide 'golden copy' machine-readable meeting information, enhancing transparency.