Broadridge Expands into Switzerland with Proxy Sub-Custody Services

Broadridge Financial Solutions, Inc. (NYSE: BR) announced on Thursday that it has extended its offerings for custodians and local agents in Switzerland with the recent launch of its ‘golden copy’ event sourcing and proxy vote Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term service.

With the latest launch, the company has strengthened its sub-custody Direct Market Solutions (DMS) product suite that directly connects investors and issuers.

“This new local service offering for Switzerland is another market-level transformation, empowering all participants throughout the proxy voting lifecycle to transition to a more streamlined and efficient process,” Demi Derem, GM of International Investor Communication Solutions at Broadridge, said in a statement.

“Firms adopting our service for the Swiss market can now capitalize on straight-through processing automation, which extends their clients' voting window while lowering overall voting costs through a mutualized shared service model.”

Infrastructure Provider

Broadridge is a provider of financial infrastructure with clients including banks, broker-dealers, asset and wealth managers, and public companies. In addition, the company expanded its market reach with the acquisition of Itiviti, a trading and connectivity Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term, for around $2.5 billion.

The company’s latest expansion into the Swiss market will enable all its clients to get an early receipt of issuer-verified event announcements, improved deadlines for submitting votes, confirmation of votes received by the issuer or its agent, and power of attorney services for both bearer and registered shares.

Furthermore, it highlighted that there will be direct delivery of information to the investors with greater transparency in the voting process.

Meanwhile, Broadridge expanded the coverage of its proxy processing and extended voting windows for 20 sub-custody markets in 2021 with plans to add more markets in the next couple of years.