a division of Automatic Data Processing's (NYSE: ADP) Brokerage Services
Group, has become the most recent company to sign up for its secure
end-to-end internet protocol (IP) network service, SettleNET.
As a leading provider of shareholder communications and proxy voting
services, ADP ICS will use SettleNET to link to CREST. As one of several new
initiatives to expand and enhance its offering, CREST's electronic proxy
voting functionality will be operational from 20 January 2003.
"CREST's new initiative for electronic voting complements our
automated products, ProxyEdge and ProxyEdge Lite, and provides financial
institutions with a true STP voting solution. The previously manually
intensive process will be eliminated by the CREST electronic notification of
meetings," says Glen Good, director of ICS in Europe. "Syntegra's SettleNET
service provides a reliable platform for allowing us to input proxy
instructions to CREST on behalf of our custodian clients."
Kevin Covington, sector manager of Syntegra's wholesale financial
services division, said: "With SettleNET already serving over 140
registrars, brokers, custodians and investment banking customers, ADP ICS'
selection of SettleNET not only confirms our position as a leading network
provider for CREST connectivity, but further proves our ability to break
into new markets such as proxy voting. We look forward to a long and
mutually beneficial relationship with ADP ICS."