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Nasdaq to deliver blockchain e-Voting solution to Strate

First Published 22nd November 2017

South Africa's central securities depository (CSD) will leverage the solution to improve voting efficiencies and increase shareholder participation in South Africa

Stockholm and Johannesburg - Nasdaq and Strate, the South African CSD, have announced an agreement for Nasdaq to deliver a new blockchain solution that would bring electronicvoting to the South African capital markets. The solution will allow Strate, in conjunction with key stakeholders in the market, to provide general meeting services and give shareholders a tool for voting remotely. The solution is based on the proof of concept (PoC) developed for Nasdaq's Estonia market. In addition, Strate will contribute to the ongoing market development of e-Voting technology.

Tanya Knowles, Managing Executive of Fractal Solutions, a division of Strate, said: "The solution aims to service our clients' needs across the market from transfer secretaries to issuers, custodians, asset managers and those holding shares in listed companies. Given that it is an end-to-end solution - from the time a meeting is announced and all the way through the voting process to the publishing of results - it means that all stakeholders will truly benefit within the process."