What is a CHESS-sponsored Account?

1. What is CHESS and what does "CHESS-sponsored" mean?

• CHESS (Clearing House Electronic Subregister System) is the system used by the Australian Securities Exchange (ASX) to manage the clearing and settlement of share trades, as well as the registration of share ownership.

• CHESS-sponsored is a model of holding shares. Under this model, all Australian shares (ASX-listed shares) you purchase are registered directly under your own name on the CHESS system. This means you have direct legal ownership of your assets.

   

2. Who handles my trading and settlement?

On the moomoo platform, all ASX-related trade execution, fund settlement, and CHESS-sponsorship services are facilitated and safeguarded by Finclear Execution Limited, an ASX trading and clearing participant in Australia.

3. How do I open a CHESS-sponsored account?

From 8 April 2024, all new clients opening an account with Moomoo AU will automatically be set up with a CHESS-sponsored account by default, giving you peace of mind regarding your share ownership.

4. How do I open a Custodian account?

If you have specific personal requirements and wish to open a Custodian account instead, please contact our customer service team to assist you with the setup via either of the following methods:

• In-App: Open the moomoo app, tap [Me] on the bottom navigation menu, and select [Customer Service].

• Email: Send an email to support@au.moomoo.com.