CACEIS goes live with Broadridge’s SDR II solution in Germany

CACEIS will use Broadridge’s enhance Global Proxy Voting platform for its German domestic and cross-bprder custody operations.

By Wesley Bray

CACEIS’ German branch has selected Broadridge’s shareholder and proxy voting technology to meet its regulatory obligations under the updated Shareholder Rights Directive (SDR II.

Through Broadridge’s SRD II solution, CACEIS will benefit from high levels of straight through processing (STP) efficiency throughout the voting lifecycle for its network of bank and broker intermediaries, as well as for their direct retail and institutional investor clients.

CACEIS will use Broadridge’s enhanced Global Proxy Voting platform for its German domestic and cross-border custody operations, in addition to the tech vendor’s new Shareholder Disclosure Hub that will be used across the group.

“We welcome and fully support the heightened levels of corporate governance introduced through SRD II, together with its objectives for improved communication standards between issuers and investors, and the drive for greater shareholder engagement,” said Stéphane Arvor, member of the German executive committee and responsible for information technologies, CACEIS Bank, Germany branch.

“Working with Broadridge as our trusted partner, we have benefitted from their proven global leadership in proxy vote processing, their deep and highly experienced talent pool of knowledgeable experts, and their exceptional proposition that supports both retail and institutional shareholder communications and their respective multi-channel delivery requirements.”

Broadridge has implemented over 300 client solutions for SRD II in markets spanning Asia-Pacific, EMEA, and North America. In January, Spanish custodian Cecabank selected Broadridge’s proxy voting solution to meet its SRD II requirements.

In general, SRD II allows more transparency into shareholders, regulates the transmission of information between the company and shareholders, and encourages the involvement of shareholders in the corporate governance of listed companies, facilitating the exercise of their voting rights.

“CACEIS has taken a structured and responsible approach to SRD II compliance, enabling it to play an important role in advancing shareholder democracy and market-wide governance standards throughout the shareholder communications chain,” said Demi Derem, general manager for international investor communications, Broadridge. 

“SRD II is global in its scope, impacting any financial intermediary that holds or services European equities.  Many firms like Caceis, including banks, brokers and wealth managers, are required to provide voting and disclosure services for the first time, and it is important that they meet their new obligations.”