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 share market transactions between CHESS participants (including stockbrokers on behalf of their clients, and large institutional investors on their own behalf) as well as speed up the registration of the transfer of securities. CHESS was developed by the Australian Securities Exchange (ASX) and is managed by the ASX Settlement and Transfer Corporation (ASTC), a wholly owned subsidiary of ASX.
16-467: National Stock Exchange may refer to: National Stock Exchange of Australia National Stock Exchange of India National Stock Exchange (Jersey City, New Jersey) (ceased trading operations in 2014) Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title National Stock Exchange . If an internal link led you here, you may wish to change
32-458: A CHESS participant or be sponsored by one (e.g., a client of a broker). Sponsored uncertificated security holders are allocated a unique holder identifying code (HIN) in CHESS, which together with the participant's code provides the authority under which CHESS will allow a transfer of securities. Only the designated controlling participant can initiate transactions on CHESS in relation to a holding. It
48-457: A sponsorship agreement with a CHESS participant, will receive periodic holding statements directly from ASX Settlement Administration, while those who have Issuer Sponsored holdings will receive similar statements from the company registry. These statements provide a record of transfers, allotments, etc. for uncertificated holdings. Share certificates are not produced. When a trade takes place, settlement takes place two trading days ( T+2 ) after
64-524: A start-of-day enquiry session from 2:30 am to 3:00 am, a pre-open session from 3:00 am to 10:00 am, a normal trading session from 10:00 am to 4:15 pm, and a post-market session (end-of-day enquiry) from 4:15 pm to 11:00 pm (all times in AEST ). Current holidays: Australia Day (January), Good Friday, Easter Monday, Anzac Day (25 April), Queen's Birthday (June) and Christmas Day (25 December) and New Year's Day (1 January). Below
80-743: Is a stock exchange based in Sydney, New South Wales, Australia. It is owned and operated by NSX Limited, which is listed on the Australian Securities Exchange on 13 January 2005. On 20 December 2006 the Newcastle Stock Exchange formally sought approval and was granted a change of name by the minister to National Stock Exchange of Australia and still trades by the acronym of "NSX". The NSX lists various companies within Australia and overseas that meet its listing rule requirements. Trading
96-522: Is a criminal offence to effect an unauthorised transaction, whether the client suffers a loss or not; and a broker's client is entitled to compensation for loss suffered as a result of an unauthorised transaction. Failing to obtain compensation from the broker, the client is covered by the National Guarantee Fund for losses arising from any unauthorised transfer of shares by a broker. Security holders who have uncertificated CHESS holdings, through
112-684: Is all-electronic based on time and price priority using NETS (the NSX Electronic Trading System) which is based on the NASDAQ OMX X-stream trading platform . Settlement of securities is electronic and on a T+2 basis using the ASX Settlement and Transfer Corporation's ("ASTC") CHESS system . The NSX was founded in 1937 and in the past had listed as many as 300 local and regional companies. Some grew to be significant companies such as Golden Circle and Ricegrowers ( Sunrice ). It
128-609: Is now known as IR Plus Securities Exchange. NSX created the first publicly tradeable taxi licence market in conjunction with the Victorian Taxi Directorate . The market started trading on 28 March 2006. Licences and temporary transfers were traded. The National Licence Exchange replicated the Taxi Market, but on a national basis. The National Licence Exchange ceased operations in 2011. NSX Limited acquired The Water Exchange on 19 October 2007. The Water Exchange facilitated
144-516: Is regulated by Australian Payments Clearing Association (APCA) under the Regulations for High Value Clearing System Framework (CS4). Based on the information provided by SWIFT FIN, RITS makes a final and irrevocable settlement by the simultaneous crediting and debiting the participants’ Exchange Settlement Accounts (ESAs) held at the Reserve Bank. RITS notifies ASX Settlement of the transfer of
160-410: Is the list of all NSX indices: Australian Clearing House and Electronic Sub-register System Under Australian corporate law , every company must maintain registers of security holders. Australian listed companies enter into a contractual arrangement with ASTC for ASTC to maintain a CHESS subregister, as agent for the issuer. The CHESS subregister is one of two subregisters that together make up
176-430: The gross amount across ESAs, and ASX Settlement messages CHESS, which finalises the transaction at the participant level by recording the transfer of the shareholding on the CHESS subregister from one security holder to the other. It is then the responsibility of the issuing company to complete the administrative aspects of the transaction, such as notifying both parties of the change of shareholding, as well to ensure it has
SECTION 10
#1732847875884192-474: The issuer’s register. Australian companies listed on the ASX are obliged to establish a CHESS subregister, and all equity securities are held through CHESS. The parties who are permitted to access CHESS are referred to as participants , who are either members of ASX (e.g., brokers) or are otherwise approved non-brokers. Each participant is allocated a unique participant code . A security holder on CHESS must be either
208-448: The link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=National_Stock_Exchange&oldid=1194649729 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages National Stock Exchange of Australia National Stock Exchange of Australia ( NSX )
224-519: The trade. On settlement day, the controlling participant initiates ASX Settlement transaction, and ASX Settlement invokes the Society for Worldwide Interbank Financial Telecommunication 's SWIFT FIN service, the service which sends financial information from one financial institution to another, to send an interbank request to the Reserve Bank Information and Transfer System (RITS). The message
240-498: The trading of permanent and temporary water entitlements within Australia. In December 2010 NSX Limited announced the sale of The Water Exchange to Envex Water Limited. Both the NSX and IR Plus operate on international standard electronic trading systems and settlement is available electronically via ASX Clear CHESS system or manually for non-CHESS enrolled securities. Settlement is on a T+2 basis. National Stock Exchange of Australia has
256-464: Was reactivated in its present form in 2000 with about 70 listed companies. NSX Limited acquired Bendigo Stock Exchange (BSX) on 12 April 2005. At the time the BSX facilitated the trading of Community Bank branches of Bendigo Bank in an uncertificated market. The BSX will be renamed SIM Venture Securities Exchange (2010) with the objective of listing securities that have cleantech credentials. The exchange
#883116