Broadridge Financial Solutions has launched Broadridge Proxy Policies & Insights (PPI) Data, providing an open data-feed of proxy voting information and analytics.
The platform will leverage machine learning services from Amazon Web Services (AWS) to provide broker-dealers, institutional investors, mutual funds, retail investors, regulators and academics with access to over five million proxy voting data points from more than 85,000 meeting agendas and a wide coverage of regulatory documents.
Broadridge describes the comprehensive platform as the first of its kind. “Broadridge PPI Data is a great example of applying technology to increase voting by retail shareholders, for brokers to engage with their customers, and for institutional investors to inform their voting,” said Martin Koopman, president, bank broker-dealer investor communications solutions at Broadridge. “We see AWS as a preferred cloud provider in our drive to improve and transform corporate governance by creating next-gen tools.”
As an example, PPI Data provides an opportunity for broker dealers to differentiate their customers’ experience in their app or website by making it easy for investors to be aware of ESG proxy proposals that impact the future of their investments.
The platform can be used to provide content to retail shareholders during the voter experience, as well as engage investors with insights on top-of-mind proxy proposals.
Push notifications can be created based on the retail investors’ preferences, such as climate change, board diversity, for example. The broker-dealer can then highlight securities with upcoming proxy proposals that match those preferences.
For institutions, it provides an independent set of proxy voting data that can inform without providing recommendations.
In addition to faster automated information processing, the platform’s AI and machine learning capabilities can predict likely contentious votes, allowing shareholders to focus on meetings where their votes may be critical.
Among other features, the platform automates data extraction from key SEC regulatory filings, specifically proxy statements and Form N-PX proxy voting records. The company plans to include additional regulatory filings on the platform in the future.
Broadridge is rolling out the new platform ahead of the 2021 proxy season. It will be made available to regulators, educational and qualified non-profit organisations for free. Such organisations and groups will be able to leverage the platform to review historical proxy policy and votes, both to gain a better understanding of how institutions vote, and to offer greater transparency on proxy voting outcomes.