Cecabank selects Broadridge for proxy voting services
26 January 2021 US
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Cecabank has appointed Broadridge to provide its global proxy voting solution to broaden its services related to new requirements under the Shareholders Rights Directive (SRD II).
Broadridge鈥檚 solution is already live and is providing Cecabank鈥檚 domestic and cross-border institutional clients with a fully automated global proxy voting service.
Cecabank鈥檚 move to adopt Broadridge鈥檚 solution comes as the Spanish government is due to sign off its transposition to make SRD II a compulsory legal requirement in Spain.
SRD II aims to improve relations between shareholders and listed companies at the European level, making them more fluid, transparent and efficient.
The directive allows more transparency into shareholders, regulates the transmission of information between the company and shareholders, and encourages the involvement of shareholders in the corporate governance of listed companies, facilitating the exercise of their voting rights.
It is global in scope and applies to all types of financial intermediaries, including banks and brokers, wealth managers and central securities depositories (CSDs) that trade or hold European equities.
Luis Francisco Jim茅nez Arag贸n, head of securities custody and settlement at Cecabank, says: 鈥淲e are very well-prepared and already in live operation, ahead of the Spanish authorities鈥� transposition deadline, and helping to drive higher standards of governance and transparency for our clients and other constituents throughout the proxy voting lifecycle.鈥�
Demi Derem, head of Broadridge鈥檚 international bank broker dealer communication solutions, adds: 鈥淚n selecting Broadridge鈥檚 end-to-end global proxy solution, Cecabank is better prepared to meet the upcoming SRD II regulatory transposition in Spain and further strengthen its position as a leading Spanish securities services bank.鈥�
Earlier in January, that provides an open data-feed of proxy voting data and analytics.
The new platform, Broadridge Proxy Policies & Insights Data, will leverage machine learning services from Amazon Web Services.
Broadridge鈥檚 solution is already live and is providing Cecabank鈥檚 domestic and cross-border institutional clients with a fully automated global proxy voting service.
Cecabank鈥檚 move to adopt Broadridge鈥檚 solution comes as the Spanish government is due to sign off its transposition to make SRD II a compulsory legal requirement in Spain.
SRD II aims to improve relations between shareholders and listed companies at the European level, making them more fluid, transparent and efficient.
The directive allows more transparency into shareholders, regulates the transmission of information between the company and shareholders, and encourages the involvement of shareholders in the corporate governance of listed companies, facilitating the exercise of their voting rights.
It is global in scope and applies to all types of financial intermediaries, including banks and brokers, wealth managers and central securities depositories (CSDs) that trade or hold European equities.
Luis Francisco Jim茅nez Arag贸n, head of securities custody and settlement at Cecabank, says: 鈥淲e are very well-prepared and already in live operation, ahead of the Spanish authorities鈥� transposition deadline, and helping to drive higher standards of governance and transparency for our clients and other constituents throughout the proxy voting lifecycle.鈥�
Demi Derem, head of Broadridge鈥檚 international bank broker dealer communication solutions, adds: 鈥淚n selecting Broadridge鈥檚 end-to-end global proxy solution, Cecabank is better prepared to meet the upcoming SRD II regulatory transposition in Spain and further strengthen its position as a leading Spanish securities services bank.鈥�
Earlier in January, that provides an open data-feed of proxy voting data and analytics.
The new platform, Broadridge Proxy Policies & Insights Data, will leverage machine learning services from Amazon Web Services.
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