This solution would bring electronic voting to the capital markets in South Africa. It is based on the tested concept that was developed for Nasdaq’s Estonia market and it will allow with key stakeholders in the market, give shareholders an easy, usability and secure tool for voting remotely and to provide general meeting services.
This solution is very useful for the South African financial markets because they have many inefficiencies and risks.The solution intended to service clients’ needs across the market from custodians, transfer secretaries to issuers, asset managers and those holding shares in listed companies.
A major indicator of progress in the capital markets is when technology not only bolsters performance, but also improves efficiency and transparency. By leveraging blockchain, we are able to reduce friction in the voting and proxy assignment process and also ensure that all information is transparent to stakeholders when required and with the proper security, governance and risk procedures in place.
Executive Vice President and Head of Market Technology, Nasdaq
It has some benefits, for example: information about meetings, agenda items and management proposals is easily reachable, secure (multifactor) identification of shareholders and their representatives, remote participation and proxy assignment, submitting votes before and/or voting during the general meeting, full track record of assigned proxies and casted votes, online/ real-time access to voting results, transparency and auditability of voting results for listed companies and others.