Outsourcing provider Broadridge has registered its newly developed XML-based messaging service for proxy voting with Swift so that it can be used over the co-operative's SwiftNet channel.
Following the registration with Swift, Broadridge is actively seeking willing participants to transact the new XML-based messages.
Broadridge says the messaging service is designed to help bring more straight-through-processing to the proxy voting process for sub-custodians, issuers and their intermediaries. The messages will cover the right to vote, the voting announcement and the result disemmination process.
Broadridge has also ensured that the messages qualify for ISO 20022 certification. "We have worked with Swift sicne 2003 to help them build a case for proxy specific messages," said Elizabeth Maiellano, senior director, Investor Communication Solutions at Broadridge.