The expansion enables Proxymity to further redefine the nature of proxy voting and to continue to enhance its ability to digitize investor relations across the financial ecosystem.
Proxymity, the leading digital investor communications platform, has announced that State Street Corporation, one of the world’s leading providers of financial services to institutional investors, has deployed its digital proxy voting service, Proxymity Vote Connect, for Portuguese and Spanish markets. The deployment utilizes the Vote Connect platform’s advanced capabilities through its connection with Citi as their sub-custodian.
Proxymity Vote Connect allows issuers to publish “golden source” meeting announcements directly to investors and intermediaries throughout the custody chain, ensuring both rapid reporting and accuracy. The service is underpinned by Proxymity’s unique ability to decipher the digital pathway between any connected issuer and shareholder, allowing shareholders more time to engage with issues without manual intervention.
State Street first adopted the Proxymity platform in 2021, and by leveraging Citi’s connection to Proxymity, State Street can now extend the benefits of Vote Connect’s digital proxy voting solutions to its underlying clients invested in Spain and Portugal, offering a transparent, accurate, and efficient communications experience that is in accordance with the EU (European Union) Shareholder Rights Directive (SRD II) in four key global markets.
Proxymity remains committed to its vision of making investor communications more accessible, accurate, and efficient for the whole ecosystem.
Dean Little, CEO and Co-Founder at Proxymity, commented: “It is a pleasure to further expand our services with State Street. We are committed to advancing a truly digital, real-time investor relations system that can extend globally throughout the financial ecosystem and further strengthen the shareholder democracy.”
“We have been engaged with the Proxymity team on our strategic and shared goals of enhancing our client services and we look forward to continuing to build on our progress in these markets,” said Chris Rowland, Global Head of Custody at State Street.
Adopted by 70% of FTSE 100 companies, Proxymity connects the world’s ecosystem of issuers, intermediaries, and investors digitally in real time, bringing unprecedented transparency, efficiency, and accuracy to traditional paper-based processes. Trusted by the world’s largest financial institutions, Proxymity’s ground-breaking technology has also been recognized industry-wide, with recent awards including FSTech’s “Most Disruptive Technology in FinTech” and GC Magazine’s “FinTech of the Year (Asia) 2023.”
Our solutions give public companies confidence that their AGM/EGM agendas are transmitted as “golden source” and provide institutional investors with the time to research and vote on corporate decisions, as well as actual digital confirmation that their votes have been received. The digital-native platform, built on highly scalable technology, provides full compliance with the latest regulations, such as the Shareholder Rights Directive (SRD II).
Proxymity promotes enhanced environmental, social, and governance (ESG) by improving communication between issuers and investors while making it easier for intermediaries to provide efficient, timely and compliant client service.
The company is backed by a global consortium of the industry’s most influential financial institutions, representing seven of the world’s top 10 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).
For more information, visit www.proxymity.io