BME and Proxymity Launch a New Digital Proxy Voting Service for Shareholders’ Meetings

– Iberclear helps its Participant Entities and Issuers to comply with the new EU SRD II Directive, pertaining to the exercise of shareholders′ governance rights.

– Transparent and sustainable, the efficiency improvements alone provide a real-time benefit of up to 6 days on average when compared to the current processes.

BME, through Iberclear, its central securities depository has launched today the new digital proxy voting service for shareholders’ meetings. Powered by the Proxymity investor communications platform, this is a sustainable solution that connects Participant Entities and Issuers in a direct, centralised way to speed up and promote the efficiency of the voting process at shareholders’ meetings.

The service is offered in collaboration with Proxymity, an innovative investor communications platform that connects issuers, intermediaries, and investors via their proprietary digital network. The partnership with BME and Proxymity means that investors will receive meeting announcements in real time and from the golden source. Participants and investors will also be able to send their votes until the market deadline. This combination of efficiency improvements alone provides a benefit of up to 6 days on average when compared to the current through the creation of efficient and transparent solutions.

This service will allow the management of shareholders’ meetings that take place on domestic securities, Cross Border Services (CBS) securities and foreign securities not held by Iberclear.

For Jesús Benito, CEO of Iberclear, “this solution has been developed in response to the demands from our issuers and participants. We can now offer a real-time, sustainable, and transparent digital solution that puts issuers and participants in greater control of their meetings. Building on technology and the experience of our technological partner Proxymity, we are delivering end-to-end digital proxy voting in Spain.”

Jonathan Smalley, COO at Proxymity added, “We’re delighted to work with BME and Iberclear on this industry-leading project. The deployment of Proxymity’s platform not only brings SRD II Compliance, but also real and immediate benefits for the Spanish market, as well as delivering true end-to end digital proxy voting.”

From today, the Participant Entities and Issuers have at their disposal the digital communication platform connecting with Proxymity investors through which the solution is implemented. In addition, Participant Entities and Issuers can test the functionalities of the service through the test environment enabled on this platform.

The solution is implemented through a technical platform that complies with all the security and data protection requirements established under SRDII, to guarantee the confidentiality and protection of the information stored in the systems. Through the Proxymity platform, the management of the complete process of the meeting is facilitated by Issuers and Participants, from the announcement of the meeting to the vote confirmation, through vote processing and accounting.

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