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. 

There is no limit to the number of HINs that one client can have, so you don't have to transfer an existing HIN.  However, if you do elect to transfer an existing HIN from another broker, please be aware that you will not be able to trade on either account (previous broker account or new Marketech account) until the transfer is complete.  For this reason, many clients find it more convenient to establish a new HIN and transfer stock from their previous broker HIN to the new HIN at a later stage.

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