FAQs about CHESS

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What does the acronym CHESS stand for?

CHESS stands for Clearing House Electronic Subregister System.

What is a HIN?

The Holder Identification Number (HIN) identifies your registration on the CHESS Subregister. One HIN can register an investor's shareholdings in multiple companies. For example, if you hold shares in Companies X, Y and Z, these shareholdings can be consolidated in one registration under a single HIN.

What is a SRN?

The Shareholder Registration Number (SRN) identifies your registration on an Issuer Sponsored Subregister. An SRN registers an investor's shareholding in a single listed company. If you hold shares in more than one company and choose to be Issuer Sponsored, you will have a different SRN for each shareholding.

How do I register my ownership of shares on the CHESS Subregister? What is a CHESS Sponsor?

Firstly, you need to enter into an agreement (known as a sponsorship agreement) with a CHESS Sponsor. A CHESS Sponsor is typically a broker who is connected to the CHESS computer system.

Your CHESS Sponsor will register you on the CHESS Subregister by opening a CHESS account in your name. ASX will send you a notice confirming your CHESS registration and advising a CHESS Holder Identification Number (HIN). You can then arrange through your sponsoring broker for shares acquired subsequently to be added to your account.

How do I become registered in an Issuer Sponsored Subregister?

When you buy shares in a company, they will by default be registered in the company's Issuer Sponsored Subregister unless you have asked your CHESS Sponsor to register them on the CHESS Subregister.

How do I move my securities from the CHESS Subregister to Issuer Sponsored Subregisters?

You simply ask your CHESS Sponsor to do this for you.

Can I transfer my CHESS account to another CHESS Sponsor?

Yes. You need to enter into a new sponsorship agreement with a new CHESS Sponsor who can then arrange transfer of your CHESS registration from your previous CHESS Sponsor.

Can I sell my shares registered in CHESS through another CHESS Sponsor?

Shares registered by one CHESS Sponsor can be accessed only by that CHESS Sponsor. For a different CHESS Sponsor to sell your CHESS registered securities, a transfer to a new CHESS sponsor must take place. You can transfer to a new Sponsor either your entire CHESS account, or individual security holdings within the account.

Can I have more than one CHESS Sponsor?

Yes. There are no restrictions on the number of CHESS Sponsors that you can have. However, having a single sponsorship agreement may simplify administration of your portfolio by consolidating all your shareholdings within a single CHESS account.

How do I change the name/address details of my CHESS registration?

To effect a change in your CHESS registration, simply provide your new details (with necessary documentation) to your CHESS Sponsor. Once your details have been amended, you will receive a notice confirming the changes.

What is a CHESS Holding Statement?

This is a statement showing the shares registered in your CHESS account. Its function is comparable to a bank statement that lists your account balance at a given time. View a CHESS Holding Statement. (125K GIF Image)

How often do I receive a CHESS Holding Statement?

A CHESS Holding Statement will be mailed to you soon after the end of the month if your balance in a particular security has changed during that month.

If I lose my CHESS Holding Statement, how can I get a new one?

Contact your CHESS Sponsor who will organise for a new one to be sent. There may be a small charge for this, depending on the broker. Note that a CHESS holding statement is not evidence of legal title. It is merely a record of the balance of your shareholdings.