Electronic Proxy Voting Platform Goes Live in Japan
ADP Investor Communication Services (ADP ICS) has completed installation of the electronic proxy voting platform that was implemented as part of a joint venture with the Tokyo Stock Exchange and the Japan Securities Dealers Association. Previously, the Japanese investment community relied on a paper-based system that limited investors to a narrow window in which to analyze materials and cast their votes. The new electronic system is expected to improve efficiency and corporate governance.
Based on ADP's ProxyEdge service, the platform will provide a Japanese language voting platform with content for local investors, as well as enhanced timeliness for release of English meeting agendas. The process has also been tightly integrated into ADP's existing global voting service and should also benefit ADP's more than 2,200 ProxyEdge clients worldwide.
Prior to the installation of the ProxyEdge platform, shareholders of companies in Japan struggled with reviewing meeting materials and voting in an informed manner. The problem was exacerbated during the June voting season each year when over 2,000 companies hold shareholder meetings.
"By building electronic links with all the key financial intermediaries in Japan, we have been able to eliminate all manual processing for participating companies, ... enabling us to set a voting deadline of noon (JST) the day before a shareholder meeting," explained Bruce Babcock, president of ADP ICS Europe and Asia, in a release.
ADP ICS reports that issuers in Japan have been strongly supportive of the new process and recognize the value of increased global institutional shareholder participation.
EdgeTrade Chooses Wombat Platform
EdgeTrade has licensed The Wombat Platform from Wombat Financial Software, a provider of high-speed market data connectivity. The Wombat Platform will be used to enhance the utility of Execution Management System, EdgeTrade's independent, agency front-end platform for trading of single stock and basket equity orders.
The Wombat Platform combines a range of data feed handlers with a messaging platform that eases the task of integrating high-speed data into applications. A suite of programming interfaces, distribution servers, entitlements control utilities and monitoring tools allows customers to access the data they need, while maintaining tight control over their systems.
EdgeTrade expects Wombat's solution to improve their trading and execution services and algorithmic offering.
"Wombat's enterprise-ready, low latency solution will greatly benefit the buy-side and sell-side traders who turn to EdgeTrade for our innovative, agency algorithmic strategies and anonymous executions," said Joseph, Wald, EdgeTrade CEO, in a release.
Calamos Picks BT for Voice Trading
Asset manager Calamos Investments has gone live with the latest ITS voice trading technology from BT at its Naperville, Ill. offices. The firm is equipping its traders with ITS.Netrix, BT's multimedia collaboration device, and ITS Anywhere, BT's application for integrated trading via remote devices.
Calamos has an existing Cisco IP telephony system and a need to maintain time-division multiplexing (TDM) connectivity for its mission-critical trading activities. The firm selected BT's ITS.Netrix solution because it could function with both TDM and Internet protocol.
As its business expands and the market demands, Calamos plans to integrate communication types beyond voice capabilities to the ITS.Netrix product. Additional uses for the product include video, instant messaging, and e-mail communication.
"We needed a trading technology that would leverage our success and offer us increased scope and flexibility," said Corey Owens, manager of network administration for Calamos Investments, in a release. "The ITS.Netrix device provides us with an unlimited direct line to the outside world, better identification for callers and enhanced conferencing capabilities."
Calamos also selected ITS Anywhere for Web, a browser based turret that provides users of ITS.Netrix with a familiar interface and allows them to access their own key pages, see call activity, make calls through a combination of on-screen buttons and have access to speed dials. ITS Anywhere will be provided to Calamos traders that need to trade from remote or alternative sites in order to cover extended exchange hours or markets in other time zones.