Clearing House Electronic Subregister System - CHESS
 |
Definition of 'Clearing House Electronic Subregister System - CHESS'A computer system operated by the Australian Stock Exchange (ASX) that facilitates the transfer of a security's legal ownership from a seller to a buyer and also any monetary transactions between the two parties. In the ASX, the Clearing House Electronic Subregister System (CHESS) serves to facilitate the exchange and registration of securities. |
 |
Investopedia explains 'Clearing House Electronic Subregister System - CHESS'In the ASX you are required to register the titles of your securities. CHESS handles the simultaneous transfer of the securities' titles as well as money. The ASX Settlement and Transfer Corporation (ASTC) operates CHESS to increase efficiency within the ASX.The average invester will rely on a stockbroker to access CHESS and register his or her securities. This is because participants need to be authorized by the ASTC or sponsored by a participant to access CHESS. |
Related Definitions
Articles Of Interest
-
The 4 Ways To Buy And Sell Securities
Know the four main avenues of buying and selling investment instruments. -
The Nitty-Gritty Of Executing A Trade
Ever wonder what happens behind the scenes when you buy or sell a stock? Read on and find out! -
Do I own a stock as of the trade date or the settlement date?
When it comes to buying shares, there are two key dates involved in the transaction. The first date is the trade date, which is simply the date that the order is executed in the market. The second ... -
Should You Add A Securities License To Your Qualifications?
Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it. -
How To Report A Tax Cheat
If you report a tax evader to the IRS, you could be eligible for a reward. -
GAAP And The IFRS Standards Convergence Efforts In 3 Substantial Areas
Understand the specific steps that have been taken in hopes of converging the GAAP and the IFRS accounting standards, despite the philosophically and culturally based methodological differences ... -
How Much Will Your Taxes Rise Based On Your Salary?
Find out how high your taxes will rise this year. -
Department Of Justice Sues Standard & Poor's Over Mortgage Crisis - Is Moody's Next?
The U.S. Department of Justice sued Standard & Poor's and is seeking more than $5 billion in damages. -
New Tax Laws To Watch Out For In 2013
With a new year comes new laws, and in 2013 the U.S. government has implemented several changes to the tax code. -
How Does The Affordable Care Act Affect Your Taxes In 2013?
Here is a look at how the Affordable Care Act will affect your taxes in 2013 and beyond.
Free Annual Reports
