“With ESG at the heart of investors, the need for better governance and stewardship practices has never been greater.”
Broadridge Financial Solutions has launched its new event notification and direct vote execution service for the Danish market, in conjunction with Euronext.
Firms using the service can rely on timely and accurate receipt of meeting notifications directly from Euronext Securities Copenhagen – the central securities depository in Denmark – an extended voting window for underlying clients and greater transparency through confirmation of votes submitted and cast.
The “Golden Copy” Direct Vote Event Notification and Execution Service Enables Global and National Banks, Custodians, Wealth Managers, and Local Agents to Streamline Processes and Transform Operational Efficiency Across the Globe of the proxy voting lifecycle in Denmark, while meeting their compliance obligations under the Shareholder Rights Directive. (SRD II) and the updated Danish Companies Act.
Broadridge has rapidly expanded its Direct Market Solutions (DMS) product line, which focuses on traditional sub-custodian voting activities.
The company’s market coverage for proxy processing and extended voting windows will continue to expand globally and complement Broadridge’s existing global voting solutions which already provide 100% coverage across more than 100 markets.
Request for improvement of governance and stewardship practices
Niels Hjort Rotendahl, CEO of Euronext Securities Copenhagen, said: “With ESG at the heart of investors, the need for better governance and management practices has never been greater. Our collaboration with Broadridge will provide a more direct proxy communications chain and a higher level of quality of service for all players. This comes at a pivotal time due to recent changes to Danish Company Law removing the need to present proxy documents, which we believe will lead to a significant increase in shareholder attendance at meetings and will require our services. combined.
Demi Derem, GM, International Investor Communications Solutions at Broadridge, said, “Our strategic priority is to advance shareholder democracy and empower investors – institutional and retail – through the most effective proxy voting ecosystem to cross-border and local market players. Through close collaboration with Euronext Securities Copenhagen, we have once again demonstrated the importance of partnering with leading market infrastructure providers to deliver a best-in-class service that transforms and enhances the customer experience, while reducing operating costs through our shared service model.