The New York Stock Exchange (NYSE) has partnered with Broadridge to enable investors to vote from supported digital wallets and maintain shareholder records on its planned tokenized stock platform.
According to a report by CoinDesk on an announcement made Monday, Broadridge Financial Solutions will provide shareholder recordkeeping, communications and voting services for the NYSE’s blockchain-based stock project. The agreement marks a step toward determining how investors will exercise their rights in a structure where shares are represented by digital tokens.
The NYSE is developing a platform that could enable round-the-clock trading by moving stock transactions to blockchain networks. In this model, tracking who owns shares and enabling shareholders to exercise their voting rights on corporate decisions are just as important as executing transactions.
Investors will be able to vote even when shares are held in a wallet
Under the planned integration, investors will be able to cast their votes through supported digital wallets, brokerage platforms or Broadridge’s existing ProxyVote service. Companies will be able to track verified ownership records and communicate with shareholders.
Broadridge CEO Tim Gokey said the solution would bring together recordkeeping and voting services regardless of where shares are held or how they are traded. This will connect tokenized shares to the existing shareholder services used by publicly traded companies.
Transfer agents, which update ownership records as shares change hands, are also part of this setup. Securitize and tZERO had previously been announced as providers of these services for the NYSE platform.
The tokenization race on Wall Street continues
Broadridge serves more than 10,000 publicly traded companies worldwide. According to the company, the value of daily settlement transactions exceeds $15 trillion; this figure reflects Broadridge’s current operations, not the trading volume of the NYSE platform, which is still in the planning stage.
NYSE rival Nasdaq is also developing tokenized securities infrastructure. On the custody and transfer side, DTCC has launched its own tokenization service. The NYSE’s latest agreement focuses on recording share ownership and the voting process in this race.
Not investment advice.