Questions on CHESS vs. Issuer sponsored and fees and charges

[ward_me]

G'day guys,

I am new to investing and would like to know some terminologies.


Question 1:
There seem to be three different of ASX share registries.

1. CHESS-sponsored (banks' brokerage businesses)
2. Issuer-sponsored (the share issuing companies)
3. Custodian account (online broker such as IG)

No.1 and 3 are well documented and explained on the Internet, but how about CHESS- vs. Issuer-sponsored? Pros and cons for each?



Question 2:
Most brokers charge so-called 'Off-Market transfer fee' When and why do you initiate this? My research shows the below:

"Done INTERNALLY within the broker in aussie. So if you wish to use commsec, the shares must be held in one commsec account and be transferred to another commsec account (ring them anyhow of course to ask)"

"Usually private arrangements between family members or transfers from deceased estates."

"Every transfer will trigger a CGT on ur tax return"

Are all the above correct?

Question 3:
What is 'SRN query fee'? When and why do you initiate this?


Question 4:
What is 'Non-Australian resident issuer to CHESS conversion fee'? When and why do you initiate this?

 

[frugal.rock]

Q1. CHESS is the safest option IMO but I believe there are other non sponsored brokers such as IB which are fairly large enterprises in their own right.
Q2. Brokers charge fees for nearly every service and transfer... a capital gain is a capital gain...?
Q3. dunno, search engine?
Q4. Unusual. dunno

However, these are not the droids you are looking for...

F.Rock

 

[HelloU]

OMT: An increasing number of brokers will now do OMT from one PID to another PID (so from one broker to another broker). As always, talk to your broker as to what they can do for you.

SRN: If you own a variety of shares and have some interaction with the share market then issuer sponsored is somewhat restrictive. They generally result from employee share schemes, demutualisations and similar that often then sit around for years untouched.