Australian Clearing House and Electronic Sub-register System
Encyclopedia
The Australian Clearing House Electronic Subregister System (commonly abbreviated to CHESS) is an electronic book-entry register of holdings of approved securities that facilitates the transfer and settlement of market transactions between the Australian Securities Exchange
(ASX) and the ASX Settlement and Transfer Corporation Pty Limited ("ASTC", the operator of the CHESS system) and its participants.
All equity securities (on the basis of market capitalisation) are held through CHESS. Under Australian corporate law
, the issuer must maintain registers for owners of securities. Australian issuers have a contractual arrangement with ASTC to maintain the CHESS subregister as agent for the issuer. The CHESS subregister is one two subregisters that together make up the issuer’s register.
Australian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
(ASX) and the ASX Settlement and Transfer Corporation Pty Limited ("ASTC", the operator of the CHESS system) and its participants.
All equity securities (on the basis of market capitalisation) are held through CHESS. Under Australian corporate law
Corporate law
Corporate law is the study of how shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community and the environment interact with one another. Corporate law is a part of a broader companies law...
, the issuer must maintain registers for owners of securities. Australian issuers have a contractual arrangement with ASTC to maintain the CHESS subregister as agent for the issuer. The CHESS subregister is one two subregisters that together make up the issuer’s register.
See also
- Australian Securities ExchangeAustralian Securities ExchangeThe Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....