Broadridge Financial Solutions today announced the live availability of a new Spanish issuer "golden copy" event notification and vote execution service for the Spanish market. The service, delivered in collaboration with Santander Investment S.A., the leader in Shareholder General Meeting services in Spain, provides a fully automated solution with market-wide coverage.
The launch of the service in Spain is the latest market-ready extension to Broadridge's fast-growing Direct Market Solutions (DMS) product suite, which focuses on streamlining traditional voting processes by directly connecting investors and issuers. The service is set to improve market error rates, expand voting windows and facilitate vote confirmations. It will enable custody banks, brokers and wealth managers operating in Spain to enhance their service offering to their underlying clients while reducing their operating costs. The collaboration will also allow all Spanish financial intermediaries to obtain a one-stop-shop SRD II compliance solution without the need for major integration or change of operating models.
"Our collaboration with Broadridge will transform the voting process for the Spanish market through a more direct end-to-end chain of communications between issuers and investors," said Luis Antonio Pérez, Executive Director of Corporate Trust Services, Santander Investment. "By removing avoidable steps from the overall lifecycle, the proxy process will become more efficient and less prone to the risks associated with multiple break points.
"We are delighted to be partnering with Santander in this innovative market solution designed to improve efficiency and deliver the highest standards of corporate governance in Spain," said Demi Derem, GM, International Investor Communication Solutions at Broadridge. "This is the latest in our ongoing series of local market innovations that focus on industry leading partnerships aimed at improving the overall voting ecosystem.
Broadridge recently announced its expanded coverage for proxy processing and extended voting windows for 20 sub-custody markets in 2021, with more markets to follow in 2022 and 2023. This complements Broadridge's existing leading global voting solutions that already provide 100% coverage across 100+ markets.