What Is a Issuer Sponsored Holding Statement
If your account is not sponsored by CHESS, you may request a CHESS sponsorship by completing a CHESS sponsorship application form. (This form is primarily used to transfer broker-sponsored shares to CHESS, but can also be used to apply for CHESS sponsorship even if you are not transferring shares.) Investors who hold shares sponsored by the issuer are assigned a securityholder reference number (NRS) by the company that issued the shares. If your actions are sponsored by CHESS, the ASX has a record indicating that you directly own those shares. An ASX CHESS holder purchases his shares directly, receives dividends directly and can vote directly on important matters of the company. Owning CHESS-sponsored shares has several advantages. These include: The investor and sponsor ASX CHESS have an agreement that defines the conditions under which the sponsor ASX CHESS may manage the investor`s holdings on HESS. CHESS stands for Clearing House Electronic Subregister System. It is the computer system used by the Australian Securities Exchange (ASX) to record stocks and manage the settlement of stock market transactions. If your shares are not in a securities dealer account, they will instead be sponsored by the issuer, regardless of the stock register used by the company in which you hold shares. Issuer-sponsored stocks have an SRN (Security Reference Number), a nine- or ten-digit number that begins with an « I. » If you do not have documents showing your NRS, you can use our electronic NRS search. A HIN usually starts with the letter « X » followed by 10 digits. You can find your HIN on a CHESS statement by talking to your broker or verifying your trading account online. If you have multiple brokerage accounts, you may have multiple HINs.
Issuer Sponsored Actions (SRN)If you have an SRN, your shares are sponsored by the issuer and can be sold through Aussie Share Sales. SRN shares are not affiliated with a stockbroker and you do not need a full trading account to own or sell these shares. NRS usually start with the letter « I » or « C » followed by nine to eleven digits. A HIN is an identification number of the holder. This is a unique number that identifies you as an ASX CHESS sponsored shareholder in a broker. Assuming your shares are held under one account, all of your CHESS-sponsored shares should be represented by a single KIN. If the reference number on your bank statement begins with an « I », it is a shareholder reference number (SRN), which means that your shares are sponsored by the issuer. An ASX CHESS holder is a shareholder who owns shares sponsored by CHESS. CHESS stands for Clearing House Electronic Subregister System, the computer system used by the ASX to manage the settlement of stock market transactions and record investments. Broker-sponsored stocks (HIN) Shares held in a HIN are registered in a brokerage or trading account. A HIN starts with the letter « X » and is followed by ten digits. Aussie Share Sales cannot help with broker-sponsored stock sales.
If your shares are registered with a HIN and you want to sell your shares, you need to contact your broker. If an investor does not have a CHESS sponsorship or has not provided their HIN to their investment dealer, the shares are registered by default in the issuer-sponsored sub-register of the company. Issuer-sponsored shares receive an NRS beginning with an « I » followed by 11 digits. Your NRS is different for each company in which you own shares. You can find your NRS on a waiting statement or other communications sent to you by the relevant company. Market participants, including brokers, can execute trades through CHESS for themselves or on behalf of clients. CHESS-sponsored shares are registered with a stockbroker, such as your online broker. Your broker assigns a Holding Identification Number (HIN) to CHESS-sponsored stocks. You will receive a unique SRN for each Issuer Sponsored Holding. Informative article How do I know if my actions are sponsored by CHESS or the issuer? The majority of ASX shares traded are sponsored by CHESS. If you buy shares via an online trading platform offered by major banks, your holdings will most likely be sponsored by HESS.
However, some brokers operate on a deposit account model where they hold the shares on your behalf. The ownership of the shares thus purchased is less clear than that sponsored by HESS. An NRS is a security holder`s reference number. This is a number assigned to assets sponsored by the issuer. If you do not have an account with a broker or if you have shares that are not in that account, they are sponsored by the respective company`s share registry. CHESS sponsorship is automatically applied to all newly opened CommSec stock trading accounts. If your account is sponsored by CHESS, it has a unique HIN number. When you sponsor your CHESS shares with CommSec, you can: CHESS manages the settlement of stock transactions and records investments electronically. When you buy or sell shares, you must trade legal ownership and pay (or receive) the share price. This is called a regulation. CHESS facilitates settlement by arranging the transfer of funds while transferring legal ownership of shares.
To check your CHESS holdings, you need to locate your HIN and contact your broker. CHESS will send you a suspense record each time you make a transaction or change your CHESS deposit account details. Bank statements must be received within one month of the transaction or change, usually the second or third week. You can find out how your shares are held by looking at the reference number in the top right corner of your latest equity or dividend statement. The ASX manages CHESS shares through a sponsoring broker. You can sell your CHESS shares through the same broker or online trading platform you used to buy them. Registration in both sub-registers is done electronically.