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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/broadridge-expands-global-proxy-sub-custody-market-services-301366834.html
SOURCE Broadridge Financial Solutions, Inc.