What is CHESS? What is a HIN?

What is CHESS? What is a HIN?

CHESS (Clearing House Electronic Sub-Register System) is the computer system used by the Australian Securities Exchange (ASX), Chi-X Australia (CXA) and National Stock Exchange (NSX) to record shareholdings and manage the settlement of share transactions. 

All trading accounts with Marketech will be CHESS sponsored by OpenMarkets Australia. Once your account has been approved, a Holder Identification Number (HIN) will be generated for you and linked to your Marketech account, you will then receive a CHESS statement in the mail confirming that your account is sponsored by OpenMarkets on behalf of Marketech.  Your HIN will be used to identify all your share holdings under this account at CHESS and the share registries.

We do not have a custodian system or pooled fund - all our clients trade with their own HIN which means all shares held are in your name.

You can choose to transfer an existing HIN from another broker, otherwise we will issue you a new HIN when you set up an account which will speed up the process. 

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