What are my options for holding Australian shares with ASB Securities?
Australian shares can be held in two ways.
Broker sponsored holdings
Your shares are held in an account with a share broker. This is also known as CHESS sponsored holdings, as the account is registered in the Clearing House Electronic Sub-register System (CHESS). Every CHESS account is issued a Holder Identification Number (HIN), which identifies you as the holder of the shares. If you have more than one share trading account with different Australian brokers, you will have a HIN for each. As an ASB Securities Share trading client, you will automatically have a CHESS account opened for you, which is sponsored by Commonwealth Securities, enabling you to trade on the ASX.
Issuer sponsored holdings
Your holdings are held with the share registry appointed by the issuing company. In this case you’re issued with a Security Reference Number (SRN) as your unique identifier. Let us know if you already hold Australian stock on an SRN. We will need to check that the names and addresses of both your CHESS account and shareholdings match to ensure your trades can go ahead. We can then load it before you start trading.
Interested in online share trading? Find out more at ASB Securities.
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