TMX Group, operator of the Toronto Stock Exchange and another four marketplaces: TSX Venture Exchange, TMX Select, Alpha, Montreal Exchange (MX) and NGX, has announced today a blockchain-based prototype for a shareholder voting system developed in collaboration with Accenture.
Designed as a solution for TSX Trust, TMX’s transfer agency and corporate trust services provider, the prototype aims to significantly improve the security, efficiency and accuracy of the voting process during annual shareholder meetings. The developers also hope it will increase engagement by shareholders who won’t need to be physically present for voting anymore.
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“TSX Trust is excited to be at the forefront of meaningful progressive change in our industry and to provide our valued clients with leading edge tools to enable them to better serve their shareholders and fulfill their public company obligations,” said Loui Anastasopoulos, President, TSX Trust and Managing Director, TSX Company Services, TMX Group.
John Lee, Vice-President, Innovation and Enterprise Delivery, TMX Group added: “TMX is proud of the work we have done with our innovative partners at Accenture to develop this blockchain prototype. We continue to explore ways TMX can leverage these new technologies in pursuit of tangible, transformative business solutions for our clients. ”
“Leading-edge exchanges around the world are embracing the potential for blockchain technology to reinvent client services,” said David Treat, managing director of Accenture’s financial services industry blockchain practice. “TMX’s approach aligns with our vision and commitment to making blockchain technology a paradigm-shifting reality within the capital markets sector.”