The document titled “General Meeting Proxy Voting on Distributed Ledger: Product Requirements” contains requirements to all technical aspects of the product:

1. Functional requirements for the process, described as a minimal viable product aimed at a generic market, and extension functionality that covers specific local needs of the markets in Russia, South Africa, Switzerland, Chile, Nordic and Baltic countries.
2. Non-functional requirements.
3. Trust requirements, enabling to provide the value typically associated with DLT-based solutions.
4. Baseline data entities, roles and their access rights.

The document aims to provide a complete description of a reference product for proxy voting - one that can be used by business in most markets worldwide. The priorities of the working group were to capture the business value of using DLT in the field of proxy voting without completely reworking established business practices.

The document has been produced by the working group during the period between October 2016 and April 2017 and involved collaboration between NSD, Strate (South African CSD), SIX Securities Services (European ICSD based in Switzerland), Nasdaq (CSD in Nordic and Baltic region) and DCV (CSD of Chile). The presentation to the ISSA Operational Committee in London on April 24th was the first public reveal of the document.

The group is continuing to work on the business case of proxy voting on DLT. Future updates of the document will be focused on:
• business value distillation for infrastructure operators and market participants,
• standardization and formal alignment with the existing market practices and ISO20022 standard,
• extensions for more markets worldwide.