Broadridge Signs On to Run Shareholder Votes for NYSE’s Planned Tokenized Stocks

Broadridge Financial Solutions, which runs the ProxyVote shareholder voting platform, will provide onchain governance for the New York Stock Exchange’s planned tokenized securities venue, the company said on Nov. 2.

The exchange announced the same day that Broadridge, Computershare, Equiniti and Superstate are joining Securitize and tZERO as transfer-agent partners for Issuer Sponsored Tokenized Securities on the venue. NYSE says three of the newcomers, Broadridge, Computershare and Equiniti, already handle records for nearly 5,000 public companies, about 99% of the S&P 500 among them. The venue has not launched and is pending regulatory approval.

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Token holders could vote from a supported wallet, through their broker or on ProxyVote. Behind the scenes, Broadridge’s smart contracts would attach each tokenized stock to its meeting agenda and voting rules and record results that can be checked, while proxy materials are delivered digitally and each wallet is matched to what its holder is entitled to vote.

Broadridge will also act as a digital transfer agent, so companies listed on NYSE can tokenize their stock for trading on the venue. CEO Tim Gokey said the firm processes more than $360 billion in assets each day.

Away from NYSE, Broadridge was set to run Galaxy’s onchain shareholder vote in May, and has announced similar arrangements with Ondo and Payward’s xStocks.

NYSE first unveiled the platform in January. It would pair the exchange’s Pillar matching engine with onchain post-trade systems able to settle on more than one blockchain, letting investors fund trades with stablecoins, size orders in dollars and trade at any hour with instant settlement. In March, the exchange signed a memorandum of understanding with Securitize, naming it the “first digital transfer agent eligible to mint blockchain-native securities” on the platform.

Both kinds of token the venue would list, those sponsored by issuers and those backed by shares at a third-party custodian, are meant to be interchangeable with ordinary shares, with the same dividends and votes. Broker-dealers would all get access on equal terms. None of it has regulatory sign-off yet.

Related Listen: Why Domingo Says Wall Street’s Copycat Stock Tokens Break the Rules

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