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A-Team Insight Blogs

Broadridge Financial Solutions Goes Live on Swift MX Proxy Voting Messaging Suite

Broadridge Financial Solutions has gone live with Swift’s ISO 20022 proxy voting messages, the MX Proxy Voting Messaging Suite, which cover the end to end information and action flows between issuers, their agents and parties holding the right to vote. The messages that involve the announcement, voting and result dissemination process are now available to the vendor’s institutional investor clients, says Elizabeth Maiellano, senior director of institution product strategy at Broadridge.

The messages can be used to receive meeting notifications, register for meeting participation, appoint a proxy or meeting attendee, register securities or cast a vote. To this end, Broadridge’s Swift MX service supports voting in meetings held worldwide and uses its own Swift Service Bureau.

“Broadridge has led the effort with Swift to develop this new electronic messaging standard for the financial industry, and we fully expect to continue playing an integral role in the development of forward thinking proxy solutions that allow clients to focus on their core business and minimise time spent on administrative tasks,” says Maiellano.

Proxy voting has also been a key area for Swift’s corporate actions team over the last few years and it launched its ISO 20022-based proxy voting messages on the network at the end of 2007.

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