Broadridge, Banco Santander, and Partners Complete Proxy Voting Blockchain Pilot
The pilot aims to increase transparency in the proxy voting process by tracking vote progress.

The pilot was Broadridge’s first application of blockchain. The application used blockchain technology to track vote progress throughout the proxy voting process. Built on the Ethereum platform and using smart contracts, the application provides role-based access to voting data.
It was run in parallel with the corporate issuer’s annual general meeting, acting as a “shadow” digital copy of the proxy voting.
Vijay Mayadas, senior vice president and global head of corporate strategy at Broadridge, said the pilot and the technology solution it wants to foster could improve corporate governance.
“The pilot demonstrates Broadridge’s commitment to developing innovative technology solutions to enhance transparency in the global proxy voting process for the mutual benefit of all stakeholders, ultimately improving corporate governance,” Mayadas said. “We believe blockchain will drive increased quality and efficiency in the voting chain by reducing the complexity that exists within the process today.”
Broadridge’s proxy voting blockchain pilot is not the only distributed ledger proxy voting test. Russia’s central securities depository, National Settlements Depository, also built and piloted a blockchain prototype for proxy voting in April last year.
Julio Faura, head of Banco Santander’s Blockchain Lab, said the pilot opened possibilities for what blockchain can achieve.
“After piloting this blockchain-based platform with Broadridge, we see that proxy voting makes an interesting case where distributed ledgers and smart contracts can add transparency and efficiency to financial services, to the benefit of our corporate and institutional clients,” he said.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
TMX buys ETF biz, Iress reinvests in trading tools, UBS data exposed, and more
The Waters Cooler: Euroclear’s next-gen service, MarketAxess launches e-trading for IGBs, and new FX services are in this week’s news round-up.
SEC pulls rulemaking proposals in bid for course correction
The regulator withdrew 14 Gensler-era proposals, including the controversial predictive data analytics proposal.
Waters Wavelength Ep. 322: Navigating air travel and cybersecurity
This week, Reb, Nyela, and Shen discuss concerns around air travel and notable cybersecurity incidents.
Cloud offers promise for execs struggling with legacy tech
Tech execs from the buy side and vendor world are still grappling with how to handle legacy technology and where the cloud should step in.
Deutsche Bank to debut tokenization platform in November
Dama 2 minimizes up-front hardware and infrastructure costs for firms exploring tokenization.
Bloomberg expands user access to new AI document search tool
An evolution of previous AI-enabled features, the new capability allows users to search terminal content as well as their firm’s proprietary content by asking natural language questions.
Agentic AI takes center stage, bank tech projects, new funding rounds and more
The Waters Cooler: SEC hack investigation, FCA–Nvidia partnership, LTX BondGPT upgrade, and CDO problems are also in this week’s news round-up.
Waters Wavelength Ep. 321: AccessFintech’s Par Cassells
This week, Par Cassells joins Nyela to discuss shorter settlement cycles and the role of vendors in the transition.