Orient Capital utilises ‘Proxymity ID’ for first shareholder analysis under SRDII in European ‘non-disclosure’ markets
Orient Capital, a specialist in share ownership analysis and identification, market intelligence, investor communication and shareholder management technology, has initiated two client projects by incorporating the ‘Proxymity ID’ technology into its existing analytical processing systems.
Using new legislation in Germany and Luxembourg enacted on 3 September, driven by the EU Revised Shareholder Rights Directive (SRDII), Orient Capital will be delivering complete share register analysis reports to new issuer clients in Germany and Luxembourg, to a level of analytical detail that was not available to them previously.
Proxymity ID enables Orient Capital to exclusively support end-to-end compliance with the new EU regulation in all European markets in their systems, providing an ISO compliant Swift messaging platform, thereby allowing all participants in the custody chain to automatically forward and respond to disclosure requests in a compliant digital format within the regulatory timeframes.
The results are collated and used by Orient Capital’s existing platform, which has significantly underpinned the robust processing and audit reviews for issuers, to deliver unmatched outcomes around data quality, depth of analysis and timeliness of delivery. Marrying the Proxymity ID capability with Orient Capital’s technical infrastructure and long-standing relationships with hundreds of custodians globally means Orient Capital can expand on the process of identifying each companies institutional shareholders, and their underlying beneficial owners, whilst continuing to produce results with an unsurpassed level of granularity.
As both Germany and Luxembourg have set their disclosure legislation threshold at 0 per cent and above, Orient Capital will provide the same level of legal and beneficial ownership granularity and coverage, that our disclosure-based clients in the UK and Ireland and in global disclosure markets have always experienced.
Orient Capital CEO Alison Owers says: “These are very exciting times for Orient Capital and our clients. The roll-out of SRDII across Europe finally brings the benefits of complete disclosure to markets such as Luxembourg and Bearer Shares in Germany. Incorporating this technology to comply with SRDII and in conjunction with our own platform, incorporating the one million plus beneficial owners we have already identified, means we can broaden our market leading analytical services to provide accurate, cost effective and faster analytical updates to clients who previously had to rely on slow, expensive and ‘out of date’ shareholder identification. The increased level of insight will be a key factor for Issuers and their IR teams across Europe to deliver effective shareholder programmes.”
Proxymity COO Jonathan Smalley says: “Results from the disclosure showcase the ability of Proxymity ID to bring efficiency and security to issuers and intermediaries across markets. Orient Capital’s adoption of these new capabilities places them at the leading edge of SRDII compliance as new thresholds are applied throughout the EU and globally. We look forward to continued collaboration in providing issuers with accurate and timely information about their shareholders.”