Broadridge to use SWIFT’s proxy voting messages
XML-based messages to improve STP
Published on 17 September 2008
Broadridge Financial Solutions, a provider of technology-based outsourcing solutions, has registered its international proxy voting services to use the new XML-based proxy voting messages on SWIFTNet. The new messages were developed to improve straight-through processing (STP) and create increased transparency in the proxy event lifecycle. 
“We are pleased to be the leading sender of MT565 messages within our category and have worked with SWIFT since 2003 to help them build a business case for proxy-specific messages," says Elizabeth Maiellano, Senior Director, Investor Communication Solutions at Broadridge Financial Solutions.
Broadridge is currently seeking counterparties to transact the new XmL-based messages. The company primarily uses SWIFT messaging to transact with sub-custodians. broadridge also provides a SWIFT institutional service, where the firm will send an institutional voting party a SWIFT ballot and receive their voting instructions back via SWIFT.
“Broadridge has been an integral part of this product’s evolution, participating in our business validation, modelling and SEG working committees to ensure that this product successfully qualified for ISO 20022 certification," says Linda Bookheim, Global Market Manager, Custody and Asset Services, SWIFT. “We appreciate their vision and input, and found their assistance as a market leader extremely beneficial."
SWIFT’s Proxy Voting solution covers the complete end-to-end information and action flows between issuers, their agents and the parties holding the right to vote, involving as many intermediaries as necessary.