What does chess mean in shares?

CHESS stands for Clearing House Electronic Subregister System and is the computer system used by the ASX to manage the settlement of share transactions and to record shareholdings. In practical terms, it allows brokers and other market participants to settle trades via CHESS by themselves or on behalf of their clients.

How do I know if my shares are CHESS sponsored?

If your shares are in a stockbroking account they will be CHESS sponsored to your broking account HIN (Holder Identification Number). A HIN is a 10 digit number beginning with an ‘X’.

What is commsec CHESS?

CHESS stands for Clearing House Electronic Subregister System. It’s the computer system used by the Australian Securities Exchange (ASX) to record shareholdings and manage the settlement of share transactions.

What does it mean to be CHESS sponsored?

Put simply, CHESS Sponsored means the ASX is keeping a list of who owns what shares. If your shares are ‘CHESS Sponsored’ it means when you buy or sell shares ASX has a record of you owning those shares directly. … You can move your ID (and the shares attached to it) from one broker to another.

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Who is the issuer of my shares?

You can find out how your shares are held from the reference number on the top right corner of your latest holding or dividend statement. If the reference number on your statement begins with an ‘I’ this is a Shareholder Reference Number (SRN) which means your shares are Issuer Sponsored.

Is CommSec a broker?

About CommSec

CommSec is Australia’s No. 1 online broker and has been helping investors reach their goals for more than 20 years. Sign up for access to the tools and support you need to trade with confidence.

How does SelfWealth make money?

Unlike Robinhood in the U.S, SelfWealth makes money from brokerage every time you trade. SelfWealth also earns revenue from its own ETF and they also earn interest from the cash you leave in their account.

How do I sell my chess shares?

If you hold your shares on the issuer sponsored subregister and want to sell them, your stockbroker must convert them to the CHESS subregister in order to settle the trade. To arrange this, you will need to provide your stockbroker with your SRN.

Can I sell issuer sponsored shares?

If you have issuer sponsored shares that are held with the share registry, you’ll need to transfer them to your CommSec Share Trading Account before you can sell them. … This can be found on the latest dividend or holding statement from the share registry. The transfer usually takes 24-48 hours.

What is the minimum trade on CommSec?

Your initial purchase of any particular shareholding must be at least $500 worth of shares, known as a ‘minimum marketable parcel of shares’. CommSec may then allow you to purchase smaller amounts of shares to top up existing shareholdings.

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How do I sell shares on CommSec?

If you already have a CommSec Share Trading Account in the same name as the shares, you can go ahead and transfer the shares to your CommSec account, then place an order to sell them.

How do I short a stock on CommSec?

Although you can’t short sell stock through a CommSec Share Trading Account, you may be able to establish a short exposure to a stock by using Exchange Traded Options (ETOs) or Warrants*. Find out more about ETOs here, or contact the CommSec Options desk on 1800 245 698 between 8am and 5:30pm (Sydney time).