NSX and CHESS
NSX has established a Transfer Service agreement between NSX and ASX
CHESS. This agreement recognises the NSX as a Australian Market
Licencee pursuant to ASX Settlement Operating Rue 4.1A and allows NSX to
be a recipient of the Transfer Service provided by ASX. This
also means that NSX is a Recognised Market Operator under ASX Settlement
Operating Rules and as such complies with the conditions set out in ASX
Settlement Rule 4.3.13.
Broker participant requirements
It is a requirement that a broker participant settle trades via
CHESS. Settlement can be arranged by direct participation in
CHESS, or via an approved agent. Please feel free to discuss your
options with NSX to ascertain the best solution for your needs.
NSX allocates a CHESS PID to each broker participant which is unique
and is used to settle trades on your behalf.
Requirement of Listing for Companies
All companies listed on NSX are required to be registered for CHESS
Settlement.
The settlement of transactions on the NSX occur using CHESS.
CHESS** stands for Clearing House Electronic Sub-register System.
The main objective of CHESS** is to reduce the amount of paperwork
and thereby speed up transaction processing, while providing added
benefits of reduced risk of incomplete or incorrect settlement and
greater ease of trading and holding shares for investors.
CHESS** reduces the amount of paperwork by providing for electronic
settlement of share transactions.
Fees
Standard CHESS fees apply.
CHESS Brochure
Find out more about chess by reading the brochure:
ASX CHESS Booklet
Trademark acknowledgements:
(*) SEATS is a registered trade mark of ASX Operations Pty Ltd.
(**) CHESS is a registered trade mark of ASX Settlement and Transfer
Corporation Pty Ltd
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