Last updated 15 days ago
Australian shares can be held and managed in two ways: CHESS Sponsored with Broker (HIN) and Issuer Sponsored with Share Registry (SRN).
Australian shares can be held and managed in two ways:
CHESS Sponsored with Broker (HIN)
When shares are held with a broker (or online trading account) they are identified by a HIN (Holder Identification Number). A HIN is like a bank account number, it is used to identify your account with a broker where your shares are held.
You can locate your HIN at the top of a CHESS statement (received in email/mail when you buy/sell shares) or by asking your broker.
Shares held on a HIN can be bought and sold by the sponsoring broker.
Issuer Sponsored with Share Registry (SRN)
When shares are not registered under a broker they are held with the company’s share registry and identified by an SRN (Securityholder Reference Number).
When participating in a capital raise that is using a Manual Settlement you may nominate to have your shares sent to an SRN. If you nominate for your shares to be allocated to a HIN but the details you provided do not exactly match what is in the CHESS system then your shares will in most cases be automatically sent to an SRN.
Unlike a HIN, each securityholding has a unique SRN. Each time you receive new securities with an SRN a letter will be mailed to the registered address with a holding statement. It is important to collect and retain this letter as you will need the enclosed SRN number in order to manage your holding.
If you would like to transfer holdings under an SRN to a HIN, you will need to contact your broker. This is usually able to be processed within 1-2 business days.