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Broadridge announces go-live of global proxy sub-custody services

By Joy Dumasia

October 28, 2021

  • Broadridge
  • DMS
  • Europe
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Broadridge Financial Solutions, Inc. 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 directly connects investors and issuers.

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. 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.

Demi Derem, GM, International Investor Communication Solutions at Broadridge, said: “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. 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.”

Recently, IBS Intelligence reported that to better serve clients and the financial services industry, Broadridge Financial Solutions, Inc., a global FinTech leader, recently announced the launch of the Broadridge Anti-Money Laundering Solution (AMLS), bringing new, leading-edge capabilities to Broadridge’s existing Intelligent Automation suite.

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