What is CHESS?

CHESS (Clearing House Electronic Subregister System) is the system used by the ASX to record shareholdings and manage the settlement of share transactions.

CHESS performs two main functions:

• Facilitates the clearing and settlement of trades on shares via transfer of title and funds (Delivery versus Payment)

• Provides an electronic sub-register for shares in listed companies.

ASX trading on Webull is CHESS sponsored by FinClear so you’ll notice that CHESS holding statements will have the name FinClear noted on it.

Our Clearing Broker namely FinClear Services Pty Ltd (‘FinClear’) is known as a CHESS Sponsored Broker.