What is CHESS?
CHESS is an ASX computer system that manages the Settlement process. It provides all investors with the security of a central hub that exchanges money and shares at the same time.
By facilitating this process electronically, CHESS provides a service that is faster and more efficient than paper-based alternatives. The cost of using CHESS is included in brokerage paid by investors.
Additionally, CHESS administers a form of electronic registration of shareholdings called the CHESS Subregister.