Clearstream and Proxymity launch digital general meeting service
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Clearstream and Proxymity launch digital general meeting service 30 May 2023Luxembourg Reporter: Carmella Haswell
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Digital investor communication platform Proxymity has expanded its partnership with Clearstream to launch a digital general meeting announcement solution in Germany and Luxembourg.
The service is expected to go live by the end of the year and will use Proxymity’s Vote Connect, the digital proxy service powered by Proxymity’s investor communications platform, to deliver to markets.
Communication between issuers and investors has historically been managed through a range of different mechanisms and information sources. This has resulted in delays and a fragmented process for intermediaries and investors, according to the firms.
The central platform aims to automate issuer investor communication to resolve these issues and facilitate improved proxy voting and corporate event communications for all parties involved.
It is designed to enable issuers and their issuer agents to improve corporate event communications between intermediaries and investors by publishing “golden record” general meeting announcements directly to the issuer central securities depository (CSD), and onward to intermediaries and investors.
CEO of Clearstream Securities Services Sam Riley says: “At Clearstream, we are constantly striving for new and innovative services for our clients, making it easier for them to conduct their business smoothly and efficiently around the world.
“In expanding our partnership with Proxymity, we are delivering on this ambition once again, using digital technologies that are leading the way in compliance and best practice.”
CEO of Proxymity Dean Little adds: “We are thrilled to continue our partnership with Clearstream, further expanding our digital investor communication platform into the German and Luxembourg markets.
“This collaboration will revolutionise the way issuers communicate their corporate events, ensuring compliance and enhancing efficiency in the proxy voting process. We look forward to making a positive impact on these strategically important markets and continuing to drive innovation in issuer to investor communication.”
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