E-proxy Voting System for NSD

Shareholder Voting Challenge

The National Settlement Depository [NSD], the central securities depository in Russia and a part of the Moscow Exchange Group, needed to collect proxy votes from numerous shareholders in disparate geographies. Traditional paper based ballots were cumbersome, time consuming and difficult to audit.


DataArt’s award winning DLT team delivered one of the first fully automated blockchain-based shareholder voting platforms.

  1. NSD notifies a network of local depositories and shareholders of an upcoming vote through instant cascade messaging. All messages are ISO 20022 compliant.
  2. Shareholders vote through local depository websites. These depositories submit the votes cast to the e-voting system. Shareholders and depositories apply digital signatures to execute each action.
  3. The platform assigns an identification number to each vote and delivers information about the votes back to NSD.
  4. After the voting process ends, the system calculates results automatically.


  • Streamlined transparent processes and operational costs reduction for both NSD and end users (no paperwork, no ‘traditional’ postal services, no human factor) .
  • Significantly reduced voting timeframe — from as long as one month to days or even hours.
  • NSD achieved first mover advantage in automated settlement voting, enhancing their competitive positioning.
  • The NSD service became more attractive for foreign investors and encouraged greater interest in the Russian market.
  • By using DLT, any data that has been uploaded to the network is safe from falsification. Cryptography is also employed to guarantee the integrity of the voting process.
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