Broadridge, J.P. Morgan, Northern Trust & Banco Santander complete pilot of blockchain-based proxy vote solution

posted 3 months ago
Broadridge Financial Solutions, Inc., J.P. Morgan, Northern Trust and Banco Santander today announced the successful completion of a pilot which employs a blockchain technology to enhance global proxy vote transparency and analytics.

The pilot, Broadridge's first application of blockchain technology, provides transparency by adapting distributed ledger technology capabilities to provide daily insight into vote progress throughout the issuer's proxy voting period, from meeting announcement date to the annual general meeting.

The application ensures role-based access to voting data through use of cryptography and smart contract technology and is built on an Ethereum blockchain platform.

The pilot was run in support of a corporate issuer's annual general meeting (AGM) and included participation of Santander Investment, the issuer's agent. The pilot was run in parallel of the AGM, with the blockchain being utilized to produce a "shadow" digital register of the proxy voting taking place in the traditional model.
Tags: blockchain, news