Broadridge announces go-live of global proxy sub-custody services in Switzerland
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Broadridge announces go-live of global proxy sub-custody services in Switzerland 28 October 2021Switzerland Reporter: Carmella Haswell
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Broadridge has announced its 鈥済olden copy鈥� event sourcing and proxy vote execution service has gone live for custodians and local agents in Switzerland.
The launch is part of the ongoing worldwide rollout of Broadridge鈥檚 innovation programme which aims to promote and enable the highest standards of corporate governance in local and global markets.
The Swiss service is the latest market-ready addition to the company鈥檚 growing sub-custody Direct Market Solutions (DMS) product suite that can directly connect investors and issuers.
Broadridge鈥檚 user community can 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.
Speaking on the announcement, Demi Derem, general manager of international investor communication solutions at Broadridge says: 鈥淭his 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.
鈥淔irms adopting our service for the Swiss market can now capitalise on straight-through processing automation, which extends their clients鈥� voting window while lowering overall voting costs through a mutualised shared service model.鈥�
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