Singapore Exchange Increases Proxy Vote Response by approximately 300% with
Broadridge Proxy Management Solution
Solution Enhances Governance and Transparency for Singapore Exchange
LAKE SUCCESS, N.Y., Nov. 26, 2012
LAKE SUCCESS, N.Y., Nov. 26, 2012 /PRNewswire/ --Broadridge Financial
Solutions, Inc. (NYSE: BR) announced today thatSingapore Exchange (SGX), in
its capacity as a publicly listed company, increased year-on-year investor
proxy response by approximately 300% using Broadridge's proxy management
solution. The solution has helped SGX to achieve its goal of bringing greater
transparency, accuracy and operational efficiency to its shareholder
Broadridge's solution for Singapore is designed to transform the proxy voting
process and establish a strong foundation from which to advance corporate
governance. It has enabled SGX to transition from a manually intensive
process to an efficient, highly automated service that gives investors the
opportunity to sign up for electronic delivery of future communications.
The service automatically captures holding records from the shareholder
register and reconciles any holdings adjustments up to two days before the
AGM. Investors receive a personalized voting form on which to return their
voting decisions, simplifying the overall voting experience and enabling a
more efficient reconciliation process. Beginning withSGX's next general
meeting, shareholders will have the choice of submitting proxy votes via a
prepaid postal response, as was the case this year, or electronically via a
voting website. An online portal will enable SGX to track, monitor and audit
all activity in real time, in advance of the meeting.
In addition to being the first user of Broadridge's solution for Singapore,
SGX is also fully committed to working in close collaboration with Broadridge
to encourage market-wide adoption of the service.
Bruce Babcock, President, Investor Communication Solutions International,
Broadridge, said, "The increased returns and process improvements for SGX's
2012 AGM have been transformative, giving them a secure, streamlined and
investor-centric service that truly raises the governance bar in Singapore.
Some investors have also opted to receive future communications
electronically, which will drive down costs, further improve service levels
and enable a more environmentally-friendly approach. The value of this
service is now unquestionably proven, and there is a clear, market-wide
opportunity for all listed companies to take full advantage of this
opportunity, while promoting Singapore as a governance centre of excellence."
Broadridge has a growing track-record for delivering country-level solutions
for listed companies in Asia. Earlier this year, a Broadridge joint venture
in Japan with the Tokyo Stock Exchange and the Japanese Securities Dealers
Association announced that the 400th issuer had joined its electronic voting
Broadridge is a technology services company focused on global capital
markets. Broadridge is the market leader enabling secure and accurate
processing of information for communications and securities transactions among
issuers, investors and financial intermediaries. Broadridge builds the
infrastructure that underpins proxy services for over 90 percent of public
companies and mutual funds in North America; processes more than $4.5 trillion
in fixed income and equity trades per day; and saves companies billions
annually through its technology solutions. For more information about
Broadridge, please visit www.broadridge.com.
Mike West Krista Eccleston
+44 20 7551 3224 +1-212-704-4438
SOURCE Broadridge Financial Solutions, Inc.
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