Broker sponsored
A broker sponsored arrangement refers to an agreement between a shareholder and licensed share broker (the sponsoring broker) or a settlement agent, where ASX-listed shares are held on the CHESS subregister and allocated a HIN. The CHESS subregister is maintained by ASX Settlement and is one of two ways a shareholder is identified as the legal owner of their portfolio of holdings - the other is an issuer sponsored subregister, which is typically maintained by the listing company that issued the shares, usually through an appointed share registry. The sponsoring broker manages securities transfers to and from an investor’s CHESS holdings, based on the shareholder’s instructions and under the terms of their sponsorship agreement. Read more about the CHESS subregister here.
We acknowledge and thank the FMA, Dr Karena Kelly and Brook Taurua Grant, the RBNZ and the Māori Dictionary for their research which helped us with te Reo Māori kupu for this glossary.
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