Ten years ago, in early 2014, the three founders of Avenir Registrars – Stuart Turner, Martyn Bain and Hardeep Tamana – embarked on a journey to address the difficulties they saw in the securities registration industry. They had collectively experienced inefficiencies and complexities inherent in the then prevailing financial markets infrastructure. It was apparent that the securities registration industry, at that time, had not caught up with the technological changes sweeping the world; it had become possible to bank online, yet similar functionality in registry was nowhere to be seen. Avenir set about transforming the industry by leveraging state-of-art technology to eliminate the need for cumbersome, paper-based systems, launching dynamic technologies that permitted both issuers and holders to access their securities online with ease.
Avenir set about transforming the industry by leveraging state-of-art technology
The vision was to bring meaningful changes to outdated processes and transform the registry industry into an efficient powerhouse for issuers. Within its first year, Avenir Registrars built a self-sustaining client base and even provided corporate actions support to assist in managing a major cross border takeover of a listed entity at that time.
Avenir has always demonstrated versatility in supporting both domestic and international issuers, as well as cross-border transactions. In turn, development of fully automated processes further reduced the resourcing, time and effort required to manage securities issuance processes. For example, Avenir also bundled self-service portals into its offering, permitting issuers and holders alike to remotely view and interact with the register and also to vote during securities holder meetings. These early steps enhanced the user experience, providing greater transparency and accessibility to all parties, illustrating how modern technology can benefit the securities registry industry.
Avenir has also committed to delivering fixed and transparent pricing. The approach removed the uncertainty that is typically associated with registry services, allowing clients to better understand and manage costs in advance. Additionally, Avenir’s technology offers the flexibility to deliver tailored products that meet the specific needs of various companies, ensuring that their services can scale and adapt as their clients grow.
Avenir is one of only eight securities registrars in the UK and the only independent registrar in Ireland
Over the past decade, Avenir has grown from strength to strength. It is one of only eight securities registrars in the UK and in 2020 the company re-shaped its Irish business, becoming the only independent registrar in the Republic of Ireland. Avenir also successfully provides CREST transfer agency services to Guernsey, Jersey & Isle of Man based companies. This span and growth is a testament to Avenir’s commitment to diversification, widening its agenda for innovation and digitisation, which remain at the core of its achievements and future aspirations.
Innovation and digitisation are central to Avenir’s success and will continue to drive the company forward. To this end, Avenir recently assisted an AIM listed issuer to become the first UK issuer to operate on a fully digital share register.
Avenir’s story is one of identifying pain points in the industry and addressing these with technological solutions, ensuring that the complexities of securities registration do not hinder the growth and success of companies. By making processes more efficient, transparent, and user-friendly, Avenir has positioned itself as a leader in the industry, consistently delivering on its promise to revolutionise securities registration.
As Avenir continues to evolve, its commitment to leveraging technology for better outcomes remains unwavering. The company’s ongoing journey of innovation promises further advancements, ensuring that Avenir remains at the forefront of the registry industry, continually setting new benchmarks for efficiency and service excellence.
The journey that began ten years ago with a vision to overhaul and modernise the registry industry is far from over. Avenir Registrars remains committed to continuing along its path of innovation and setting new standards in the industry.
An amended version of this article originally appeared in the July 2024 version of AIM Journal. You can download a printable version here.