Benefits of CHESS vs. Issuer Sponsorship
| Shares held in CHESS | Shares Issuer Sponsored |
|---|---|
| Legal title is electronically registered and is similar to a bank account. | Legal title is electronically registered and is similar to a bank account. |
| My shares are sponsored or controlled by my broker. | My shares are controlled by the particular share registry used by the listed company. |
| I receive one Holder Identification Number (HIN) for all holdings sponsored by a single broker. For example, a shareholder with securities in 10 different companies will have one HIN if they are all sponsored in CHESS by one broker. | I may receive a Security Holder Reference Number (SRN) for each company’s securities. For example, a shareholder owning securities in 10 different companies may have 10 different SRNs if the shares are issuer sponsored. |
| I only need to contact my sponsoring broker to change my name, address, notification of TFN, etc. For all the securities held by that broker. | To change personal details issuer sponsored holders may need to contact each share registry for each of the company’s securities they hold. |
| My shares are already on CHESS so are ready to trade. | Before I can trade my broker will need to move my shares from my issuer sponsored account onto CHESS. |
| CHESS will issue monthly holding statements for each security where the holding balance has changed. These will look the same for all the securities held. | Each share registry will issue their own monthly issuer sponsored holding statements for each security held where the balance has changed. |

