ISS and Strate partner on proxy voting solution
06 November 2023 South Africa
Image: R.M. Nunes/stock.adobe.com
Corporate governance and sustainable investment solutions provider Institutional Shareholder Services (ISS) has partnered with Strate, South Africa鈥檚 principal central securities depository (CSD) and collateral platform, on a global proxy distribution (GPD) project.
Through the collaboration, global and custodian banks using ISS鈥� GPD outsourced voting solutions will be able to use Strate鈥檚 central platform for the direct vote processing of South African issuers鈥� shareholder meetings.
Integrating the two organisations鈥� services will improve voting efficiency, corporate governance and transparency for investors, the firms say, streamlining the proxy voting lifecycle.
Rudi Kuntz, head of global proxy distribution at ISS, says: 鈥淥ur collaboration with Strate enhances our GPD outsourced voting solution for custodians with global and local investor clients seeking to exercise effective investment stewardship in South Africa.
鈥淭he new arrangement removes a step in the intermediary chain for vote processing in the local market and provides institutions with extended voting deadlines. This benefits custodians鈥� investor clients by allowing more time for engagement and vote decision-making ahead of company meetings in South Africa.鈥�
Gregory Naicker, head of CSD services at Strate, comments: 鈥淐ollaboration is key for Strate as we integrate with ISS GPD to create further efficiencies for electronic proxy voting within the South African market. This milestone will afford ISS GPD clients with direct market access to vote and to connect with local issuers, thereby enhancing investor stewardship.鈥�
Through the collaboration, global and custodian banks using ISS鈥� GPD outsourced voting solutions will be able to use Strate鈥檚 central platform for the direct vote processing of South African issuers鈥� shareholder meetings.
Integrating the two organisations鈥� services will improve voting efficiency, corporate governance and transparency for investors, the firms say, streamlining the proxy voting lifecycle.
Rudi Kuntz, head of global proxy distribution at ISS, says: 鈥淥ur collaboration with Strate enhances our GPD outsourced voting solution for custodians with global and local investor clients seeking to exercise effective investment stewardship in South Africa.
鈥淭he new arrangement removes a step in the intermediary chain for vote processing in the local market and provides institutions with extended voting deadlines. This benefits custodians鈥� investor clients by allowing more time for engagement and vote decision-making ahead of company meetings in South Africa.鈥�
Gregory Naicker, head of CSD services at Strate, comments: 鈥淐ollaboration is key for Strate as we integrate with ISS GPD to create further efficiencies for electronic proxy voting within the South African market. This milestone will afford ISS GPD clients with direct market access to vote and to connect with local issuers, thereby enhancing investor stewardship.鈥�
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