To trade on the ASX, you will firstly need to sign up for a CHESS account. This can be done by downloading the attached form applicable to your trading account, and scanning it back to [email protected]
What is CHESS?
CHESS is a computerised share sub-register system operated by the Australian Stock Exchange. CHESS requires an ASX broker to act as sponsor and FNZ Custodians (Australia) Pty Ltd (FNZ Securities) has been appointed as sponsor for this purpose.
Once you have a CHESS account, you will be issued with one Holder Identification Number (HIN) for all your Australian shareholdings. Your HIN has several advantages. It allows you to buy and sell shares immediately - you would otherwise have to wait for an individual shareholder reference number (SRN) to be issued for each shareholding you purchase (which can take up to six weeks). A single HIN is also easier to remember and if you change address, you only need to notify Invest Direct (rather than notifying every company that you hold shares in).
If you require any assistance when completing your CHESS Application, please don't hesitate to contact our Customer Experience team at [email protected]