Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

33476

T-Scape develops voting management solution for investment managers

RELATED TOPICS​

FinTech specialist T-Scape is working with a global investment manager on the development of a new application to help automate the voting process associated with meetings.iActs Vote Manager (VM) will be added to the growing suite of applications being delivered by T-Scape under its iActs brand. The development has been driven by the regulatory requirements of the Shareholder Rights Directive (SRD) II that comes into force on 3 September.

David Baxter, Managing Director at T-Scape, says: ‘The voting process isn’t a new one, obviously, and voting platforms that facilitate the process have been around for some time. SRD II, however, has shone a beaming light on the inefficiencies inherent in a process more commonly known as proxy voting. Votes being ‘lost’ due to company information not reaching shareholders is the most concerning, one which the directive aims to rectify to ensure all shareholders are able to exercise their right to vote at meetings.’

Whilst iActs will make use of a revised ISO20022 message set that has been developed to support the requirements of the directive, the application itself is not SRD II specific and as such can help any organisation looking to improve their internal voting processes irrespective of message type. Those processes include the normalisation of incoming data, alerting users when a new event has occurred, liaising directly with internal voters, capturing votes and ultimately dispatching voting instructions. 

Baxter says: ‘The process flow is effectively the same as any other voluntary corporate action, the key difference being the voting itself. Instead of a set number of options being offered against which an election can be made, any number of resolutions may exist against which there could be numerous voting options. 

“From an iActs perspective, the key to direct engagement with those responsible for casting votes lies in how those resolutions are presented and how easily such votes can be cast. If it isn’t simple then direct engagement outside of the operations team won’t happen and processing inefficiencies will remain. This obviously flies in the face of what we are trying to achieve with iActs and what the market is trying to achieve through regulation. Interestingly, when we delivered iActs v1 back in 2017 we were keen to stress that the processing of corporate actions was not a back office exclusive and that the front office should play an active role. It was the lack of a viable tool through which the front office could engage that excluded them from being actively involved. The introduction of iActs changed that and the gap between front and back offices was bridged enabling all participants to actively engage. It’s the same here, only this time with voting.’

Latest News

MSCI has launched MSCI AI Portfolio Insights, writing that it combines generative artificial intelligence “GenAI”..
The Capgemini Research Institute’s World Wealth Report 2024, published today, reveals the number of high-net-worth..
New research from cloud security firm Zscaler reports a disconnect between European company confidence in..

Related Articles

Waves
A joint statement from BNP Paribas Asset Management, Federated Hermes Limited, Mirova, Robeco and Storebrand Asset Management has been published, entitled The urgent need for better ocean-related data to make informed investment decisions...
A joint statement from BNP Paribas Asset Management, Federated Hermes Limited, Mirova, Robeco and Storebrand Asset Management has been published,..
Frozen soap bubble
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct Authority says has a simple aim: “Financial products that are marketed as sustainable should do as they claim and have the evidence to back it up.”..
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct..
Global ESG Investing
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of climate change and ESG factors in state policymaking...
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of..
Trends
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100 million deals announced this month alone...
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by