Clearstream goes live with Proxymity’s digital proxy voting service

Rick Steves

“We continue to develop our long-standing partnership with Clearstream and the Deutsche Borse Group, following on from the rollout of our Shareholder ID solution earlier in the year.”

Clearstream has gone live with investor communication platform Proxymity’s digital proxy voting service, Vote Connect, across nine European markets.

The digital proxy voting service connects issuers, intermediaries, and investors ensuring that investor communications are delivered in real-time.

Proxymity Vote Connect includes “issuer golden source” meeting announcements published directly from issuers to investors. Many European markets benefit from the full end-to-end digital connectivity provided by the solution, enabling greater transparency, speed, and accuracy to the ecosystem.

With Vote Connect, shareholders’ votes are sent digitally to issuers or their agents in real time and they receive digital confirmation that their votes have been cast and counted at the meeting. A growing number of businesses are reassessing how they manage proxy voting.

Best in digital proxy voting solutions

Dean Little, CEO and Co-Founder at Proxymity, commented: “We continue to develop our long-standing partnership with Clearstream and the Deutsche Borse Group, following on from the rollout of our Shareholder ID solution earlier in the year. This is another fantastic milestone for Proxymity as we expand our market coverage including the introduction of Vote Connect into the Baltic Markets and increasing our overall global footprint.”

Sam Riley, Head of Clearstream Securities Services, added: “At Clearstream, we always seek to optimise our clients’ experience throughout the whole securities life cycle. Together with our partner Proxymity, we are seeking to provide the best in digital proxy voting solutions, driving transparency, and increasing efficiency in the European capital markets.”

The adoption of Proxymity Vote Connect follows the introduction of Shareholder Rights Directive II (SRD II), a European wide legislation that aims to make it easier for issuers to engage with shareholders, especially across different countries. The regulation impacts amongst others, companies with registered offices and shares trading in the EU and EEA.

Firms like Proxymity may not only help upgrade existing processes to meet SRD II demands but could also be the most efficient and effective means of complying with the legislation.

The company is backed by a global consortium of the industry’s most influential financial institutions, representing seven of the world’s top ten Global Custodians managing over $200 trillion in assets under custody (BNP Paribas, BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, J.P. Morgan, Mediant, State Street).

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