BNY Mellon Migrates Its Proxy Voting Service Onto Proxymity for Clients Investing in the UK
LONDON, England, December 14, 2023 (Newswire.com) - Proxymity, the leading digital investor communications platform, announces the launch of its digital proxy voting service - Proxymity Vote Connect Total (VCT) - to BNY Mellon clients in the UK in time for the 2024 voting season. The launch follows Proxymity and BNY Mellon’s launch of VCT in France and Belgium earlier this year. For Proxymity, this marks the third major global custodian to connect to the platform in the UK.
BNY Mellon clients investing in the UK will benefit from a full end-to-end digital connection, that will extend their voting period and enhance the overall accuracy, speed, and transparency of the process.
Proxymity is now an official voting medium for more than two-thirds of the FTSE 100, as well as for hundreds of other UK-based issuers. Connecting to all three major UK registrars, and as part of the voting infrastructure in both the UK, and around the world, Proxymity is providing the digital end-to- end voting backbone of connectivity that the global financial ecosystem has come to rely on.
For BNY Mellon, the platform will provide its clients with the ability to leverage golden source data, delivering investor communications in real-time with improved accuracy and transparency, throughout the entire chain of ownership. Along with the accuracy of source issuer notifications, clients will also benefit from Proxymity’s other platform innovations, including extended deadlines for meetings related to connected issuers and the company’s unique post-meeting vote confirmation service.
Dean Little, Co-Founder and CEO, Proxymity, said: "Today’s announcement demonstrates BNY Mellon’s and Proxymity’s shared goal of realising true democracy of information to all shareholders. This is not just about enhancing a process; it's about reshaping investor communications across the globe. Together, we are setting a new standard, reinforcing our role as conveners for issuers, intermediaries and investors alike."
Adam Watson, Head of Commercial Product, Custody Services at BNY Mellon added: "Collaborating with Proxymity to deliver this leading next-generation proxy voting solution will improve transparency, accuracy, and speed for our clients. And is part of our commitment to providing real-time, flexible, and effective digital solutions to clients in the UK and beyond."
The announcement is another milestone in the long-term collaboration between Proxymity and BNY Mellon. In 2020, and in 2022 as part of Proxymity's Series B fundraising, BNY Mellon invested in Proxymity as part of an industry-leading consortium to bring enhanced investor communications solutions to the asset management ecosystem.
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About Proxymity
Adopted by 70% of FTSE 100 companies, Proxymity connects the world's ecosystem of issuers, intermediaries, and investors digitally in real time, bringing unprecedented transparency, efficiency, and accuracy to traditional paper-based processes. Trusted by the world’s largest financial institutions, Proxymity's ground-breaking technology has also been recognised industry-wide, with recent awards including FSTech's "Most Disruptive Technology in FinTech" and GC Magazine's "FinTech of the Year (Asia) 2023".
Our solutions give public companies confidence that their AGM/EGM agendas are transmitted as "golden source" and provide institutional investors with the time to research and vote on corporate decisions, as well as actual digital confirmation that their votes have been received. The digital-native platform, built on highly scalable technology, provides full compliance with the latest regulations such as the Shareholder Rights Directive (SRD II).
The company is backed by a global consortium of the industry's most influential financial institutions, representing seven of the world’s top ten Global Custodians managing over $200 trillion in assets under custody (BNP Paribas, BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, J.P. Morgan, Mediant, State Street).
For more information, visit www.proxymity.io
About BNY Mellon
Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange. Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle.
BNY Mellon had $45.7 trillion in assets under custody and/or administration and $1.8 trillion in assets under management as of September 30, 2023. BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.
Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
Source: Proxymity Ltd
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