Broadridge Financial Solutions, Inc. today revealed its new “golden copy” event notification and direct vote execution service for the Danish market has gone live. The services are delivered in collaboration with Danish central securities depositary Euronext Securities Copenhagen.
With Broadridge and Europnext’s new service, global and domestic banks, custodians, wealth managers and local agents can streamline processes and transform operational efficiency throughout the proxy voting lifecycle in Denmark, while at the same time fulfilling their compliance obligations under the Shareholder Rights Directive (SRD II) and Denmark’s updated Companies Act.
The latest addition to the Direct Market Solutions (DMS) product suite, the Denmark service focuses on traditional sub custody voting related activities. Firms using the service receive meeting notifications sourced directly from Euronext, an extended voting window for underlying clients, and greater transparency through the confirmation of votes submitted and cast.
Niels Hjort Rotendahl, CEO, Euronext Securities Copenhagen, said:
With ESG as a central component for investors, the need for best-in-class governance and stewardship practices has never been stronger. Our collaboration with Broadridge will provide a more direct chain of proxy communications, and a higher level of service quality for all players. This comes at a pivotal time due to recent changes to the Danish Companies Act removing the need to present Power of Attorney documents, which we anticipate will lead to a significant rise in shareholder participation at meetings and require our combined services.
Demi Derem, GM, International Investor Communications Solutions at Broadridge, added:
It is our strategic priority to advance shareholder democracy and empower investors – institutional and retail – through the most efficient proxy voting ecosystem for both cross-border and local market participants. Through close collaboration with Euronext Securities Copenhagen, we have again demonstrated the importance of partnering with market leading infrastructure providers to deliver a best-in-class service that transforms and enhances the client experience, while reducing operating costs through our mutualized service model.
Broadridge in the official announcement that it is committed to expanding its market coverage for proxy processing and extended voting windows. The firm noted that more markets will follow in 2022 and 2023.
