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What is CHESS?

CHESS stands for Clearing House Electronic Subregister System. It’s a computer system operated by the Australian Securities Exchange (ASX) that facilitates the buying and selling of shares listed on the exchange.

There are three ways to hold shares in Australia. 

One is through a broker which allocates your shares to a Holder Identification Number, or ‘HIN’, commonly referred to as “CHESS-sponsored”.

Another is through the registry of the company you own shares in, where you will hold shares on a Shareholder Reference Number or ‘SRN’.

Or, you can do so via a custodian, which is a financial institution licensed to hold assets on your behalf for safekeeping. It’s like having a guardian for your shares that is holding regulatory capital in the event of any potential financial stress, which is there to protect your investments.

What time does the ASX open?

The ASX opens at 10:00am Monday to Friday (excluding public holidays). Full information regarding market open times is available on the ASX website.

What are the trading hours for the ASX?

The trading hours for the Australian stock market are 10:00am to 4:00pm Australian Eastern Standard Time (AEST) on trading days – Monday to Friday (excluding public holidays). You can find all information relating to trading hours on the ASX website.

What is a Market Order (U.S. Trading)?

A Market Order in the U.S. is an order to buy or sell securities at the prevailing market price.

Market Orders are based on the dollar amount you wish to invest. This may result in the volume of shares being a fractional amount (i.e. a volume of shares less than 1).

Market Orders are placed at market, meaning that:

  • if the Market Order is a Buy order, whether during U.S. Market Hours or when the market is closed, you agree to pay the prevailing market price at the time the market order is executed; and
  • if the Market Order is a Sell order, whether during U.S. Market Hours or when the market is closed, you agree to receive the prevailing market price at the time the market order is executed.

All Market Orders placed for U.S. listed securities will likely trade immediately. Where this is not the case these orders will expire 30 days after you place the order via the Superhero Platform.

How do I vote at a company’s AGM?

Australian-listed companies each conduct an Annual General Meeting (AGM) where shareholders can participate in decisions such as electing new directors to the board and other resolutions relating to the company’s business.

If you would like your vote lodged at a company’s AGM, you will need to reach out to our team via chat or send us an email at hello@superhero.com.au at least 4 business days before the meeting commences.

How do I make a complaint?

Feedback about Superhero?
We love hearing feedback from our customers. To get in touch, either jump on chat or email us via hello@superhero.com.au

If you wish to make a complaint, our Customer Success Team can be contacted via chat through our website or by email at complaints@superhero.com.au. We will try to resolve your complaint honestly, efficiently and fairly.Superhero has a formalised client complaint resolution procedure in place to resolve any complaints or concerns you may have about the services provided to you. Our complaints team reviews, records and investigates all complaints Superhero receives and escalates matters to the Superhero Compliance Department as required. If you make a complaint, our first response will be to contact you to discuss the complaint and to register a formal record of such complaint. If, despite our best efforts you believe your complaint has not been satisfactorily dealt with, you may contact an independent industry arbiter, namely, the Australian Financial Complaints Authority (“AFCA”), of which Superhero Securities (No. 31571) is a member.

You can contact AFCA by writing to:
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Toll Free: 1800 931 678
Email: info@afca.org.au
Website: www.afca.org.au

Can I add my TFN after completing the tax questionnaire?

You sure can. If you would like to add or change the tax file number you initially provided Superhero during our tax questionnaire, please contact us via chat.

How do I provide my tax details?

If you need to provide your tax details, or if you have made a mistake when completing our tax questionnaire, please contact us on chat.

What is a W-8BEN?

A W-8BEN is a form relevant to you if you’re not a US citizen or tax resident and you trade US shares or ETFs on your Superhero account.Superhero can rely on a validly completed W-8BEN form to determine:

(a) your status as a foreign person (i.e. not a US citizen or tax resident), and
(b) the withholding tax rate applicable to US source income.

There are 2 variations of a W-8BEN form, one for individual account holders and another for Companies and Trusts.

Individual account holders will complete a digital W-8BEN during Superhero’s onboarding process. Companies and Trusts can complete a separate W-8BEN-E form post onboarding.

US citizens or US tax residents that trade US shares or ETFs on the Superhero platform will not complete a W-8BEN. At onboarding you will complete a digital W-9 form.

How do I provide my TFN to Superhero?

You will be asked to provide your TFN to Superhero when creating your account. In accordance with existing legislation you are not obliged to provide your TFN to Superhero, however if you do not, we are required to withhold tax on your Australian investment income at the highest marginal tax rate. If you need to update your tax details or if you have made a mistake when completing our tax questionnaire, please contact us on chat.

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