Broadridge Launches New Proxy Voting in Austria via Direct Market Solutions

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) has launched a new proxy voting service in Austria as part of its Direct Market Solutions (DMS) product suite. This innovation improves operational efficiency by extending the voting window and research period for investors by an average of four days. The automated system enhances communication between investors and issuers, enabling digital submission of voting instructions. Broadridge is committed to driving local market efficiencies, complementing its global voting solutions, which cover over 100 markets. The company reported revenues of $5 billion.

Positive

• New proxy voting service launched in Austria, extending the voting window by four days for investors.
• Improvements in operational efficiency with automated systems for voting instructions.
• Broadridge's DMS product suite supports both institutional and retail investor voting in Austrian equities.
• Expanded coverage for proxy processing in 20 markets, indicating strong growth and commitment.

Negative

• None.

Direct solutions connect issuers and investors; extends research window by four days

NEW YORK and LONDON and ZURICH and GENEVA, Oct. 10, 2022 /PRNewswire/ -- Further extending its innovation program to support the highest standards of corporate governance in local and global markets, Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the successful live running of its "market golden copy" event sourcing and proxy vote execution service for banks, brokers and wealth managers in Austria.

"We remain firmly focused on our commitment to innovate and transform the proxy voting eco-system, both globally and at a local market level, while reducing costs and risk to market intermediaries through our mutualised shared service model," said Demi Derem, general manager of International Investor Communication Solutions, Broadridge. "Our investments for the Austrian market will deliver substantial improvements to operational efficiency with advanced straight-through processing for market participants and support incremental levels of shareholder democracy by empowering investor stewardship and related ESG strategies."

The Austrian service is the latest operationally live addition to Broadridge's fast-growing Direct Market Solutions (DMS) product suite that directly connects investors and issuers and improves voting deadlines for investors. DMS supports both institutional and retail investor voting in Austrian equities.

By providing a direct, automated service, Broadridge has significantly improved market deadlines - extending the voting window and research period for investors by an average of four days. Meeting and event notifications are electronically sourced from the market after which they are reconciled and forwarded to investors. Voting instructions received are provided digitally for physical submission at the meeting in accordance with national requirements. A confirmation of receipt of votes will be provided and displayed to investors confirming the vote was duly cast.

Broadridge announced its increased focus on driving local market efficiencies in 2021, with expanded coverage for proxy processing and extended voting windows as its core objectives. In 20 markets it has now met these fundamental objectives and remains on target to do the same for several more markets by 2023. These incremental local market innovations complement Broadridge's existing leading global voting solutions that already provide investors 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 U.S. $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 14,000 associates in 21 countries.

For more information about Broadridge, please visit www.broadridge.com

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

Media:
Gregg Rosenberg
Global Head of Corporate Communications
+1 212 918 6966
gregg.rosenberg@broadridge.com

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What does Broadridge's new proxy voting service in Austria offer?

The new service offers automated proxy voting, extending the voting window and research period for investors by an average of four days.

How does Broadridge improve operational efficiency with its new service?

Broadridge enhances operational efficiency through automated systems that reconcile and forward voting instructions, confirming votes digitally.

When was the new proxy voting service launched in Austria?

The service was announced on October 10, 2022, and is now live.

How does Broadridge's new service impact investor engagement?

The service empowers investor stewardship by providing direct communication with issuers and improving voting processes.

What is Broadridge's revenue figure mentioned in the press release?

Broadridge reported revenues of $5 billion.