Broadridge has been granted a U.S. patent for distributed-ledger technology to enhance proxy voting through increased levels of corporate governance and transparency, security and operational efficiency.
Broadridge will also use the patent to increase efficiency and speed in the repurchase agreement market for securities, it said in a statement Thursday. The Lake Success, New York-based firm said in October that through a pilot with Societe Generale SA and Natixis SA, it found that distributed-ledger technology can make repo trades more efficient and less risky by providing a more secure record of transaction details.