Welcome!

News Feed Item

Broadridge Signs MOU with Taiwanese Depositary to Cooperate with StockVote System

Successful cooperation will support improved corporate governance processes in Taiwan through international proxy voting automation

LAKE SUCCESS, N.Y., Aug. 14, 2014 /PRNewswire/ -- Broadridge Financial Solutions, Inc., (NYSE: BR) a leading provider of technology-driven solutions for financial firms and corporate issuers globally, has reached an agreement with the Taiwanese central depository, Taiwan Depository & Clearing Corporation (TDCC), to establish direct links with the TDCC's new electronic voting system for Taiwanese shareholder meetings, StockVote. For listed companies that elect to use the StockVote system, direct voting into the system by Broadridge will significantly enhance the level of straight-through processing (STP) in the process, greatly improving voting deadlines for overseas investors and helping to eliminate multiple manual processes undertaken by local sub-custodian banks supporting Broadridge's clients in the market today.

Broadridge Logo.

StockVote was developed by TDCC to take advantage of recent regulatory changes in Taiwan that allow electronic voting, and the system has been used successfully by local investors for several years. By working with TDCC, Broadridge will bring the benefits of StockVote to foreign shareholders voting in Taiwan through Broadridge's global proxy service for global custodians and their institutional investor clients. Currently, voting in Taiwan is predominately handled manually by local banks, often including mandatory meeting attendance. With the cooperation of the sub-custodians and global custodians, Broadridge will send overseas voting directly to StockVote through secure electronic means, thereby eliminating the manual handling of paper voting and meeting attendance by the local banks for participating Taiwanese issuers.  

Sherman Lin, President of TDCC, said, "We have listened to the concerns of investors about shareholder voting in Taiwan, and have worked with our regulators to update local regulations to enable improvements to the process. We are pleased that the necessary regulatory changes are for the most part now complete, and local investors have been able to benefit from the improved process.  We see working with Broadridge to bring these benefits to overseas investors as a critical next step to further improving corporate governance in Taiwan."

"As interest in cross-border proxy voting and corporate governance has grown in the last few years, Broadridge has worked with local parties wherever possible to improve the local processes and the ability of our clients to vote. While Taiwan has required our clients to deploy manual processes for many years given the regulatory environment and market practices, the development of StockVote by TDCC and the possibilities raised by our cooperation with them promise to bring significant benefits to our overseas clients in their efforts to support improved corporate governance globally," said Demi Derem, General Manager of Broadridge's global proxy service. "We look forward to working with the TDCC to bring the combined benefits of StockVote and our global proxy service to our clients."

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and business process outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,700 full-time associates in 14 countries.

For more information about Broadridge, please visit www.broadridge.com

About TDCC

Established in October 1989, Taiwan Depository and Clearing Corporation (TDCC) is central securities depository (CSD) in Taiwan and plays the role as an essential infrastructure of Taiwan financial markets, providing custody, securities settlement, book-entry transfer, and issuer services. TDCC maintains more than 15 million investor accounts under 2,257 participants, with a total market value of USD $1.2 trillion for all types of securities under custody as of the end of 2013. TDCC engaged with e-voting services, named STOCKVOTE, from 2008, and it is the sole e-voting platform in Taiwan. TDCC has been connecting with international financial markets to keep pace with global developments, and has conducted international business related to bonds, offshore funds, and cross-border STP voting.

Further information, please visit: www.tdcc.com.tw.

Media Contact:

Kate McGann
Broadridge
+1 212 981 1395
[email protected]

Logo- http://photos.prnewswire.com/prnh/20110920/MM71626LOGO 

SOURCE Broadridge Financial Solutions, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices t...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to clos...
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...