TMX launches blockchain prototype for e-proxy voting

TMX Group released a new blockchain-based prototype to support an electronic shareholder voting system.

The prototype was developed with global services firm Accenture, which TSX hired for design and development consulting services.

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“The E-Proxy Voting System prototype aims to significantly improve the efficiency and accuracy of the voting process during annual shareholder meetings, while also enhancing security through advancements in cryptography,” TMX says in a release.

A blockchain-based system will help increase engagement in corporate governance by removing the need for shareholders to attend meetings for votes, says TMX, owner of the TSX.

“Leading-edge exchanges around the world are embracing the potential for blockchain technology to reinvent client services,” David Treat, managing director of Accenture’s financial services blockchain practice, says in a statement.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.