Abstract:
The invention concerns a system enabling remote security certificate holders of a company to take decisions concerning security operations proposed by the company. The system uses a computer communication network and distinguishes between registered owners and bearer securities holder. In the case of a registered owner, an identification code generated by a centralizing unit is returned by the holder to the centralizing unit directly and in parallel via a depository. In the case of a bearer securities holder, an identification key generated by a collecting agent is transmitted directly and in parallel via a depository. The holder transmits his identifiers and his decisions to the collecting agent who forwards them partly, in parallel, via the depository to a centralizing unit. The centralizing unit compares the codes or identification keys for the purpose of executing the decisions of the holders.

Description:
FILED OF THE INVENTION 
     The present invention relates to a method and a system enabling security holders to make decisions or instructions during operations affecting these securities. 
     DEFINITIONS OF THE INVENTION 
     Within the meaning of the present invention, “decisions or instructions” refers to decisions or instructions formulated by a security holder in response to a trade offer concerning the securities (for example: transfer or retain in the case of an exchange offer, sell the securities or retain them in the case of a purchase offer, purchase or apply for shares in the case of subscription or exercise subscription rights or the option for dividend shares, etc.) 
     Within the meaning of the present invention, “security order” refers more generally to any instruction given by the security holders concerning the securities they hold, either in response to an offer or an external event (decisions or instructions) related to either the purchase, sale, blocking, application, or communication of the number of securities held. 
     BACKGROUND OF THE INVENTION 
     Currently, the decisions or instructions during operations affecting securities or security orders for holders of securities of a quoted company (the issuer) are executed by transmitting documents via the postal service and, for the most part, by intermediary of financial depository institutions. The sending and receiving of security orders involves several depositories (banks, stock brokering companies) in France and abroad, and several methods of transmission. 
     The current operating method is thus characterized by the cumbersome nature of document exchanges, often paper, and by the difficulty experienced by the issuers involved in inviting distant or unidentified holders to respond to security offers. 
     French law makes a distinction between the registered security holder, who has legally or voluntarily accepted to allow his name and contact information to be made known to the issuing company, and the bearer security holder, whose identity can be known only through performing a costly search initiated by the issuer and with a result that is always incomplete. The number of securities held by the bearer security holder and his identity are in fact only known upon his initiative, for example during the receipt by the issuer of a security order concerning, for example, a request to block the shares that will be addressed to his depository. 
     Although the decisions or instructions transmitted via Internet during the security orders are easily incorporated into the relationship between the issuer and the registered owners known at the outset and to whom a confidential identifier has been sent, it is different for the decisions or instructions of the bearer security holders, who are unknown to the issuer. To be valid, their decisions or instructions must wait to be verified by the banker, the final centralizing unit generally belonging to an organization responsible for the registration of or the compensation for securities (in France, EUROCLEAR). 
     It should be noted that remote decisions or instructions require the transmission via mail of a form for a decision or instruction by a depository network. The depositories in the network, including the last element of the network, the centralizing unit, validate the response to a security offer which comprises two elements: the number of securities held and the decisions or instructions proposed to and duly selected by the holder. The centralizing unit is generally a member of an institution responsible for the recording of or the payment for securities. 
     OBJECT AND SUMMARY OF THE INVENTION 
     The present invention relates to a method and a system enabling the stated problem to be resolved. 
     The method according to the invention enables remote holders of securities of a company to make decisions or to transmit instructions during a security trade affecting the securities. The trade is offered to security holders in an offer by a third party or by the company, in particular during an offer to buy or exchange securities. The third party or the company is hereinafter referred to as the issuer of the offer. 
     The method according to the invention implements a computer communication network, in particular of the Internet type. The administration of decisions or instructions is provided by the issuer of the offer and/or by an entity, in particular a financial institution, hereinafter referred to as the centralizing unit. 
     The method according to the invention is implemented in one or both of the following cases:
         Case in which the Registered Security Holders Have Communicated Their Names and Their Contact Information to the Company       

     In this case, the registered security holders have deposited the registered securities with a financial institution hereinafter referred to as the financial depository institution. 
     In this case, the method according to the invention comprises the step, for the issuer of the offer and/or for the centralizing unit, of generating and transmitting to the registered security holder a confidential identification code. The method according to the invention also comprises the step, for the registered security holder, of identifying himself by transmitting to a collecting agent, via the computer network, personal identifiers, decisions, or instructions concerning the proposed security trade, as well as the confidential identification code. The method according to the invention also comprises the step, for the collecting agent, of recording the personal identifiers, the decisions or instructions concerning the proposed security trade, as well as the confidential identification code. The method according to the invention also comprises the step, for the collecting agent, of transmitting to the centralizing unit, via the computer communication network, the personal identifiers, the decisions or instructions concerning the security trade, as well as the confidential identification code. The method according to the invention also comprises the step, for the collecting agent, of generating and transmitting to the depository via the computer communication network a message containing the security orders accompanied by the statement of the number of securities involved and the confidential identification code. 
     The method according to the invention also comprises the step, for the depository, of transmitting to the centralizing unit the name of the registered security certificate holder, the number of securities held by the registered security certificate holder, the orders for securities, and the confidential identification code ( 6   c ). 
     The method according to the invention also comprises the step, for the centralizing unit, of executing the orders for securities related to the security trade for which the identification code received from the collecting agent and the identification code received from the depository are identical to the identification code generated, and of linking with the decision or instruction concerning the security trade the orders for securities and the number of securities held by the registered security holder.
         Case of Bearer Securities       

     In this case, the bearer securities are deposited with a financial institution hereinafter referred to as the financial depository institution. The method according to the invention in this case comprises the step, for the bearer securities holder, of transmitting via the computer communication network the personal identifiers as well as the decisions or instructions concerning the security trade to a collecting agent whom the bearer security holder has designated as the financial depository institution. The method according to the invention also comprises the step, for the collecting agent, of recording the personal identifiers as well as the decisions or instructions concerning the security trade. The method according to the invention also comprises the step, for the collecting agent, of generating and linking an identification key to the decisions or instructions concerning the security trade. The method according to the invention also comprises the step, for the collecting agent, of transmitting to the centralizing unit, via the computer communication network, the personal identifiers as well as the decisions or instructions concerning the security trade and the corresponding identification key. The method according to the invention also comprises the step of generating and transmitting to the depository, via the computer communications network, a message containing the security orders, accompanied by the statement of the number of securities involved and the identification key. The method according to the invention also comprises the step, for the depository, of transmitting to the centralizing unit the name of the bearer security holder, the number of securities held by the bearer security holder, the security orders, and the identification key. The method according to the invention also comprises the step, for the centralizing unit, of executing the security orders concerning the security trade for which the identification key received from the collecting agent is identical to the identification key transmitted by the depository, and linking the securities orders and the number of bearer securities to the decisions or instructions. 
     According to one version of an embodiment of the invention, the issuer assumes responsibility for least part of the services implemented by the centralizing unit. 
     The invention further relates to a system enabling remote holders of securities of a company to make decisions or to transmit instructions during a security trade affecting the securities. The trade is proposed to security certificate holders in an offer by a third party or by the company, in particular during an offer to purchase or exchange securities. The third party or the company is hereinafter referred to as the issuer of the offer. The administration of decisions or instructions is provided by the issuer and/or by an entity, in particular a financial institution hereinafter referred to as the centralizing unit. The system according to the invention implements a computer communication network, in particular of the Internet type. 
     The system according to the invention is implemented in one or both of the following cases:
         Case in which the Registered Security Holders Have Communicated their Names and their Contact Information to the Company       

     In this case, the registered security holders have deposited the registered securities with a financial institution hereinafter referred to as the financial depository institution. 
     In this case, the system according to the invention comprises a means of calculation and a means of transmission used by the issuer or by the centralizing unit to generate and transmit to the registered security holder a confidential identification code. The system according to the invention in this case also comprises computer equipment used by the security holder to transmit to a collecting agent-server, via the computer network, personal identifiers, decisions or instructions, as well as the confidential identification code. The collecting agent-server comprises means for recording the personal identifiers, the decisions or instructions, as well as the confidential identification code. The collecting agent server also comprises means of transmission to transmit to a collecting agent-server used by the centralizing unit, via the computer communication network, the personal identifiers, the decisions or instructions, as well as the confidential identification code. The collecting agent-server comprises means of transmission for generating and transmitting to the depository, via the computer communication network, a message comprising security orders accompanied by the statement of the number of securities involved and of the confidential identification code. 
     The depository has means of transmission for transmitting to the centralizing unit the name of the registered security holder, the number of securities held by the registered holder, the security orders, and the confidential identification code. 
     The collecting agent-server comprises means of execution for executing the security orders for which the identification code received by the collecting agent server and the identification code received from the depository are identical to the identification code generated, and for linking to the decisions or instructions the security orders and the number of securities held by the registered holder.
         Case of Bearer Securities       

     In this case, the bearer securities are deposited with a financial institution hereinafter referred to as the financial depository institution. In this case, the system according to the invention comprises computer equipment used by the security holder for transmitting to a collecting agent-server, via the computer communication network, the personal identifiers, the decisions or the instructions, as well as the contact information of the financial depository institution. The collecting agent-server comprises means of recording for recording the personal identifiers, and the decisions or instructions. The collecting agent-server also comprises a first means of data processing for generating and linking an identification key to the decisions or instruction. The collecting agent-server also comprises a first means of transmission for transmitting to a collecting agent server, via the computer communication network, the personal identifiers, the decisions or instructions, as well as the corresponding identification key. The collecting agent-server also comprises a second means of data processing for generating and transmitting to the depository, via the computer communication network, a message containing the security orders accompanied by the statement of the number of securities involved and the identification key. 
     The depository has means of transmission for transmitting to the issuer or to the centralizing agent the name of the bearer security holder, the number of securities held by the bearer security holder, the security orders, and the identification key. 
     The collecting agent-server comprises means of execution for executing the security orders for which the identification key received from the collecting agent server is identical to the identification key transmitted by the depository, and for linking the security orders and the number of securities to the bearer to the decisions or instructions. 
     According to one version of the embodiment of the invention, the issuer assumes responsibility for at least part of the functions exercised by the centralizing unit. 
     The invention further relates to a server enabling remote holders of the securities of a company to make decisions or to transmit instructions during a security trade affecting the securities. The trade is proposed to the security holders in an offer by a third party or by the company, in particular during an offer for purchase or exchange of securities. The third party or the company is hereinafter referred to as the issuer of the offer. The administration of the decisions or of the instructions is provided by the issuer and/or by an entity, in particular a financial institution, hereinafter referred to as the centralizing unit. The server is connected to a computer communication network, particularly of the Internet type. 
     The server is implemented in one and/or both of the following cases:
         Case in which the Registered Security Certificate Holders Have Communicated Their Names and Contact Information to the Company       

     In this case, the registered security holders have deposited the registered securities with a financial institution hereinafter referred to as the financial depository institution. 
     In this case, the issuer of the offer and/or the centralizing unit have generated or transmitted to the registered security holder a confidential identification code. The security holder has transmitted to the server, via the computer network, the personal identifiers, the decisions or the instructions, as well as the confidential identification code. 
     In this case, the server according to the invention also comprises means of recording for recording the personal identifiers, the decisions or instructions, as well as the confidential identification code. The server according to the invention also comprises means of transmission for transmitting to the centralizing unit-server used by the centralizing unit, via the computer communication network, the personal identifiers, the decisions or instructions, as well as the confidential identification code. 
     The server according to the invention also comprises means of transmission for generating and transmitting to the depository, via the computer communication network, a message containing the security orders accompanied by the statement of the number of securities involved and the confidential identification code. 
     The depository transmits to the centralizing unit the name of the registered security holder, the number of securities held by the registered security holder, the security orders, and the confidential identification code. 
     The centralizing unit executes the security decisions for which the identification code received from the server and the identification code received from the depository are identical to the identification code generated, and links to the decisions or instructions the security orders and the number of securities held by the registered security holder.
         Case of Bearer Securities       

     In this case, the bearer securities are deposited with a financial institution hereinafter referred to as the financial depository institution. The security holder transmits to the server, via the computer network, personal identifiers, decisions or instructions, as well as the contact information of the financial depository institution. 
     In this case, the server according to the invention comprises means of recording for recording the personal identifiers, and the decisions or instructions. The server according to the invention also comprises means of data processing for generating and linking an identification key to the decisions or instructions. The server according to the invention also comprises a first means of transmission for transmitting to a centralizing unit-server used by the centralizing unit, via the computer communication network, the personal identifiers, the decisions or instructions, as well as the corresponding identification key. The server according to the invention also comprises a second means of data processing for generating and transmitting to the depository, via the computer communication network, a message containing the security orders accompanied by the statement of the number of securities involved and the identification key. 
     The depository transmits to the issuer or to the centralizing unit the name of the bearer security holder, the number of securities held by the bearer security holder, the security orders, and the identification key. 
     The centralizing unit executes the security orders for which the identification key received from the server is identical to the identification key transmitted by the depository, and links the security orders and the number of bearer securities to the decisions or instructions. 
     According to one version of the embodiment of the invention, the issuer assumes responsibility for at least part of the functions exercised by the centralizing unit. 
    
    
     
       DESCRIPTION OF THE FIGURES 
       Other characteristics and advantages of the invention become apparent upon reading the description of versions of the embodiment, given for purposes of example which are non-restrictive, and by the following  FIGS. 1-3 : 
       The versions of the embodiment given for purposes of example which are non-restrictive, by referring to  FIGS. 4 through 6  mentioned below, relate in particular to a method and a system enabling remote stockholders to vote electronically at meetings. The descriptions of  FIGS. 1 through 6  follow: 
         FIG. 1  is a schematic representation for the case of a registered security holder, and the nature and the flow of various information which is exchanged between the security holder and the various servers and which is necessary for taking into consideration the decisions or the instructions of the security holder; 
         FIG. 2  is a schematic representation for the case of the bearer security holder, and the nature and the flow of various information which is exchanged between a security holder and the various servers and which is necessary for taking into consideration the decisions or the instructions of the security holder; 
         FIG. 3  is a representation of a general view of a version of the system and of the method according to the invention in the case of registered security holders and bearer security holders transmitting decisions or instructions by using an Internet-type computer communication network; 
         FIG. 4  is a schematic representation of the case for a registered stockholder, the nature and the flow of various information necessary for voting, and various exchanges between the various servers; 
         FIG. 5  is a schematic representation of the case for a bearer stockholder, the various information necessary for voting, and the various exchanges between the various servers; and 
         FIG. 6  is a representation of a general view of a version of the system and of the method according to the invention in the case of registered stockholders and bearer stockholders voting by using an Internet-type computer communication network. 
     
    
    
     DETAILED DESCRIPTION OF THE EMBODIMENTS 
       FIG. 1  is a representation of the case of a registered security holder, and the nature and the flow of various information which is exchanged between a security holder and the various servers and which is necessary for taking into consideration the decisions or the instructions of the security holder, during a security trade. 
     In the proposed version, registered security holder  6  is the holder of a certain number of securities  6   n  which he deposits with a depository  5  having means of recording  5   e.    
     Before transmitting his decisions or instructions concerning the security trade, registered security holder  6  receives a confidential identification code  6   c  transmitted from a collecting agent-server  4  (or, optionally, from an issuer  2 ). 
     During the implementation of a security trade, security holder  6  transmits to a collecting agent-server  3 , via a computer communication network  1 , in particular an Internet-type computer communication network, his confidential code  6   c , personal identifiers  6   i , and decisions or instructions  6   v  concerning the security trade. Collecting agent-server  3  records this information in its recording system  3   e . Collecting agent-server  3  is connected via a communication network  1 , in particular an Internet-type computer communication network, to a collecting agent-server  4  (or, optionally, to issuer  2 ). By using its transmission devices  3   t  via network  1 , collecting agent-server  3  transmits to collecting agent-server  4  of the centralizing unit institution the confidential code  6   c , personal identifiers  6   i , and decisions or instructions  6   v  of security holder  6 . 
     In parallel, collecting agent-server  3  sends to depository  5 , via computer network  1  and means of transmission  3   tb , this confidential code  6   c  as well as a message containing security orders  6   di.    
     Although the version of the embodiment described represents only a single depository, the present invention is equally applicable to the case of a chain of depositories. 
     Depository  5  records  5   e  the instructions sent to it by collecting agent-server  3  and by its means of communication  5   t , via network  1 , transmits to centralizing unit-server  4  confidential code  6   c  as well as security orders  6   di , the information concerning the holder, and the number of securities  6   n  involved. 
     Collecting agent-server  4  compares, by means of a comparator  4   c , confidential code  6   c  which it sent to security holder  6  (before he transmits his decisions or instructions) to the code received by collecting agent  3  and depository  5 . The equivalence of these two codes received to the one generated by the centralizing unit enables security trades  6   di  to be executed by taking into consideration decisions or instructions  6   v  and personal identifiers  6   i , security orders  6   di , security orders  6   di , and the number of securities  6   n  held. 
       FIG. 2  is a representation of the case of a bearer security holder, and the nature and the flow of various information which is exchanged between a holder and the various servers and which is necessary for taking into consideration the decisions or the instructions of the holder, during a security trade. 
     The main feature of the invention is emphasized here. It involves the fact that the holder of securities, in particular bearer securities, is enabled to transmit decisions or instructions, via an Internet-type computer communication network, directly to the centralizing unit in response to an offer. This transmission precedes and duplicates the security orders that are transmitted to the depository institutions. The method consists of accelerating the chain of transmission for information and of making it secure by duplicating, for decisions or instructions  7   v , security orders  7   di  and the number of securities  7   n  held by bearer security holder  7  and transmitted by one or several depositories  5 . 
     In the proposed version, bearer security holder  7  holds a certain number of securities  7   n  that he deposits with a depository  5  having a means of recording Se. The method comprises holder  7  who wishes to make decisions or instructions concerning the security trade, sending to a collecting agent-server  3  from a collecting agent center, via an Internet network  1 , his personal identifiers  7   i  and his decisions or instructions  7   v  concerning his number of securities  7   n . As soon as this information is received, collecting agent-server  3  records the information in its recording system  3   e , and by means of a specific module  3   g  generates an identification key  8  linked to the decisions or instructions. Collecting agent-server  3  sends to depository  5 , via computer network  1  and means of transmission  3   tb , this identification key  8  as well as a message containing security orders  7   di.    
     Although the version of the embodiment described represents only one depository, the present invention is equally applicable to the case of a chain of depositories. 
     In parallel, by using another means of transmission  3   t , collecting agent-server  3  sends to centralizing unit-server  4  of the centralizing unit the personal identifiers  7   i , decisions or instructions  7   v , and identification key  8 . 
     Depository  5  records  5   e  the instructions sent to it by collecting agent-server  3  and by its means of communication  5   t  via network  1  transmits to centralizing unit-server  4  the identification key  8 , security orders  7   di , as well as information concerning the security holder and the number of securities  7   n  involved. 
     To take into consideration the decisions or instructions of holder  7 , centralizing unit server  4  compares  4   c  identification key  8  coming from collecting agent-server  3  and from depository  5 . In the case that these keys match, the centralizing unit executes  4   v  security orders  7   di  by comparing, for the appropriately identified holder  7   i , decisions or instructions  7   v  received from collecting agent-server  3 , security orders  7   di , and the number of securities  7   n  involved, received from the depository. As this version demonstrates, the method and the system according to the invention enable complete independence to be maintained between the institution that validates the decision or instructions and the institution that is the depository for the securities for which it is responsible. This feature in particular characterizes the method according to the invention because these elements are usually traditionally the object of the same flow of transmission by the chain of depositories. 
     Thus, the method according to the invention retains, by amplifying and by making secure, the current process. In fact, the financial depository intermediaries always ensure a function in line with their fiduciary mission concerning the movements and security trades. In addition, a larger number of holders may respond to security offers. Lastly, the issuer (or the centralizing unit) knows earlier and more completely the decisions or instructions. Due to the receiving module which enables it to reconcile the decisions or instructions and the number of securities involved, the final result and the response to offers are made secure. 
       FIG. 3  is a representation of a general view of a version of the system and the method according to the invention in the case of registered holders  6   a ,  6   b  and bearer security holders  7   a ,  7   b  transmitting their decisions or their instructions concerning the security trades by means of an Internet-type computer network. The various servers of issuer  2 , of collecting agent  3 , of centralizing unit  4 , and of depository  5  are connected to an Internet-type computer network. Registered holders  6   a ,  6   b  transmit via Internet network  1  various information that concerns them. This information is recorded, transmitted, compared, and executed by means of various corresponding systems  3   e ,  3   t  of collecting agent  3  and  4   c ,  4   v ,  4   t  of centralizing unit  4  and of depository  5 . In the case of bearer security holders  7   a ,  7   b , these are the servers for collecting agent  3  of centralizing unit  4  and of depository  5  which provide the decision or the instruction method. The information transmitted by holders  7   a ,  7   b  to collecting agent  3  is recorded in a module  3   e , and an identification key  8  is generated by means of a module  3   g . A first means of transmission  3   t  is used by collecting agent-server  3  to communicate the information to a centralizing unit server  4  of a centralizing unit center, and other information is transmitted to the depository center  5  by the collecting agent-server via transmission  3   tb . Lastly, this figure shows the various means of recording Se and of transmission  5   t  for depository center  5 , and means for comparison  4   c  of transmission  4   t  and execution  4   v  of centralizing unit-server  4  of the centralizing unit center. 
     The versions of the embodiment, given for the purposes of example which are non-restrictive, by referring to  FIGS. 4 through 6 , relate in particular to a method and a system enabling remote stockholders to vote electronically at meetings. 
       FIG. 4  is a representation of the case of a registered stockholder, the nature and the flow of various information necessary for voting, and exchanges between the various servers and a stockholder. 
     Collecting agent  13  and centralizing unit  14  (or, optionally, issuer  12 ) are connected through a computer network  11 . Registered stockholder  16  receives, before his vote, a confidential identification code  16   c  transmitted from a centralizing unit  14  (or, optionally, from an issuer  12 ). During the voting, this stockholder  16  will transmit to collecting unit  13 , via Internet network  11 , his confidential code  16   c , his personal identifiers  16   i , and his voting instructions  16   v . Collecting agent  13  will record this information in its recording system  13   e . collecting agent  13  will then transmit, by means of its transmission devices  13   t  via network  11 , to centralizing unit institution  14  confidential code  16   c , personal identifiers  16   i , and voting instruction  16   v  of stockholder  16 . Centralizing unit  14  will compare  14   c  the confidential code which it sent to the stockholder before he votes to the one received from stockholder  16 . The matching of these two codes enables validation  14   v  of the information concerning voting instructions  16   v  and identifiers  16   i . Centralizing unit  14  then records the stockholder&#39;s vote thus identified, by taking into consideration his voting instructions  16   v  and by linking to his instructions the number of shares  16   n  that he holds. 
       FIG. 5  is a representation of the case of a bearer stock holder, the various information necessary for voting, and the various exchanges among the various servers. 
     One of the principal technical features of the invention is emphasized here. It involves the fact that, not only does it enable a vote by the stockholder, in particular for the bearer share holder, via an Internet-type computer network  11 , but more particularly in such a way that the share depository institutions do not know how their shareholders voted. The method comprises unlinking, in the information chain of transmission, the number of shares  17  held by bearer share holder  17  from his voting instructions  17   v.    
     In the proposed version, the bearer share holder is the holder of a certain number of shares  17   n  that he has deposited with a depository  15  having means of recording  15   e . For shareholder  17  who wishes to vote, the method comprises sending his personal identifiers  17   i  and his voting instructions  17   v  concerning his number of shares  17   n  to a collecting agent center  13  by means of an Internet-type communication network  11 . When this information is received, collecting agent center  13  records the information in its recording systems  13  and by means of a specific module  13   g  generates a voting identification key  18 . The collecting agent center sends this voting key as well as a request to block shares  17   di  to depository  15  via computer network  11  and means of transmission  13   tb . Although only one single depository is represented in the version of the embodiment described, the present invention is equally applicable to a chain of depositories. 
     This message thus contains only the voting instructions, which ensures that they will not be disclosed to the depository. In parallel, this collecting agent center  13  sends, via other means of transmission  13   t , to centralizing unit  14  the personal identifiers  17   i , voting instructions  17   v , and voting identification key  18 . The collecting agent center does not transmit the number of shares  17   n  involved. 
     Depository  15  has recorded  15   e  the instructions sent to it by the collecting agent center and transmits, by its means of communication  15   t  via network  11 , to centralizing unit  14  the voting identification key  18  as well as the information concerning the shareholder and the number of shares  17   n  involved. To take into consideration the vote of shareholder  17 , centralizing unit  14  must compare  14   c  voting key  18 , and in the case that the keys match, it must validate  14   v  by comparing, for the clearly identified shareholder, voting instructions  17   v  received by the collecting agent, and the number of shares  17   n  concerned, received from the depository. As this version demonstrates, the method and the system according to the invention allow complete independence to be maintained by the institution that validates the votes and the institution that is the depository of the shares for which it is responsible. This feature in particular characterizes the method according to the invention because these elements are traditionally included together in the same paper voting form transmitted by the chain of centralizing units. 
     Thus, in sharp contrast to the current paper process, since the voting instructions of the shareholder clients are not disclosed to the financial depository intermediaries the latter provide only a function in line with their fiduciary mission, related to the holding of certificates and the possible blocking of shares as required by law. The voting results are disclosed only to the issuer (or the centralizing unit), because only they have the reception module enabling the reconciliation of the voting instructions and the number of shares involved. 
       FIG. 6  is a representation of a general view of a version of the system and the process according to the invention in the case of registered shareholders  16   a ,  16   b  and bearer shareholders  17   a ,  17   b , voting by means of an Internet-type computer network  11 . The various servers of issuer  12 , collecting agent  13 , centralizing unit  14 , and depository  15  are connected to an Internet-type computer network  11 . Registered share holders  16   a ,  16   b  will transmit via Internet network  11  the various information concerning them. This information will be recorded, transmitted, compared, and validated by means of various appropriate systems  13   e ,  13   t  of collecting agent  13  and  14   c ,  14   v  of centralizing unit  14 . In the case of bearer shareholders  17   a ,  17   b , the servers of collecting agent  13 , centralizing unit  14 , and depository  15  will provide the means for the voting procedure. The information transmitted by shareholders  17   a ,  17   b  to collecting agent  13  is recorded by a module  13   e , and an identification key is generated by a module  13   g . A first means of transmission  13   t  is used to communicate the information to a centralizing unit center  14 , and other information is transmitted by means  13   tb  to depository center  15 . Lastly, we see in this figure the various means for recording  15   e  and for transmission  15   t  for depository center  15 , and means of comparison  14   c  and means of validation  14   v  of centralizing unit center  14 .