Broadridge Expands into Switzerland with Proxy Sub-Custody Services

Broadridge Financial Solutions, Inc. (NYSE: BR) announced on Thursday that it has extended its offerings for custodians and local agents in Switzerland with the recent launch of its ‘golden copy’ event sourcing and proxy vote execution service.

With the latest launch, the company has further strengthened its sub-custody Direct Market Solutions (DMS) product suite that directly connects investors and issuers.

“This 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,” Demi Derem, GM of International Investor Communication Solutions at Broadridge, said in a statement.

“Firms adopting our service for the Swiss market can now capitalize on straight-through processing automation, which extends their clients’ voting window while lowering overall voting costs through a mutualized shared service model.”

Infrastructure Provider

Broadridge is a provider of financial infrastructure with clients including banks, broker-dealers, asset and wealth managers, and public companies. The company further expanded its market reach with the acquisition of Itiviti, a trading and connectivity technology provider, for around $2.5 billion.

The company’s latest expansion into the Swiss market will enable all its clients to get an 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.

It further highlighted that there will be direct delivery of information to the investors with greater transparency in the voting process.

Meanwhile, Broadridge expanded the coverage of its proxy processing and extended voting windows for 20 sub-custody markets in 2021 with plans to add more markets in the next couple of years.

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