Clearing House Electronic Subregister System (CHESS)

Clearing House Electronic Subregister System (CHESS),

Definition of Clearing House Electronic Subregister System (CHESS):

  1. In the ASX you are required to register the titles of your securities. The Clearing House Electronic Subregister System (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.

  2. The transfer and settlement system used by the Australian Stock Exchange for the majority of listed securities.

  3. The Clearing House Electronic Subregister System (CHESS) is 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, CHESS serves to facilitate the exchange and registration of securities. CHESS is an electronic book entry register; no certificates of ownership are given to securities holders.

Meaning of Clearing House Electronic Subregister System (CHESS) & Clearing House Electronic Subregister System (CHESS) Definition