Proximity & Australia’s Computershare start digital proxy voting in NZ

Highlights

  • Computershare and Proxymity have collaborated and launched the “issuer to investor” connection.
  • The launch has been limited to New Zealand.
  • JP Morgan and Citi are the first custodians to adopt a digital proxy vote platform.

Australia’s Computershare (ASX: CPU) and London-based digital investor communication platform Proxymity have collaborated and launched the first direct digital “issuer to investor” connection. The launch has been limited to New Zealand, with JP Morgan and Citi as the first custodians to adopt it.

The launch has transformed a market that was earlier using paper-based proxy voting, that is, post or fax was utilised to send votes, agendas and meeting announcements.

The digital native platform of Proxymity will ensure real-time communication with the investors and accuracy will be added in the communication. The issuer will transmit the information directly to the intermediaries and investors, with no human interference.

With the increase in the speed in the communication, the investor gest additional six days on average to assess their votes, communicate with the issuer well in advance and get better outcomes with early engagement.

Moreover, digital proxy voting adds transparency in the process. It provides updates in real-time, voting information is provided to issuers, vote confirmation post-meeting, and regulatory trends are well aligned.

Good read: Computershare Limited Revised its Guidance Due to Changes in Interest Rate

COO and co-founder of Proxymity, Jonathan Smalley stated that,

Bottom Line

Global market leader in governance and financial services, Computershare, and investor communication platform, Proxymity get into a collaboration to launch digital proxy voting across New Zealand. The game-changing technology for investors, intermediaries and issuers is expected to transform the traditional ways of communication.

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