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ASX is ramping up its initiatives to grow investor opt-in to electronic CHESS statements and notifications. Karen Webb, General Manager Equities Post Trade, and Resan Ovat, Senior Manager Issuer Services, discuss what ASX is doing, the role of participants and why it matters for both investors and issuers.
Karen and Resan, what’s ASX focused on when it comes to electronic delivery of CHESS statements and notifications — and why is it important right now?
Karen: We’re working with key stakeholders including participants and issuers to lift investor opt‑in to electronic CHESS statements and notifications. It matters because it realises benefits for investors, issuers and the environment, as well as potential fee savings for participants.
When did the shift to electronic CHESS statements and notifications really begin, and what did ASX introduce?
Resan: The shift began in December 2021, when ASX introduced an option that allows participants (brokers) to opt-in investors with CHESS holder accounts (on HIN) in to receiving CHESS holding statements and notifications electronically. This marked a shift away from the traditional approach of issuing CHESS holding statements and notifications only as printed documents sent by mail.
For investors, what changes day-to-day when they move away from paper and what are the broader benefits for issuers and the market?
Karen: From an investor experience perspective, it’s largely convenience and peace of mind: electronic delivery makes it easier to keep track of information and you get faster, reliable and secure confirmation when CHESS holding or holder details change. It’s also simpler to search for and retrieve historical statements and notifications when you need them.
Resan: There are also broader benefits for ASX and the industry by helping to reduce its carbon footprint by decreasing the use of paper and mailing activities. Importantly it also reduces costs for issuers. Issuers are currently charged $0.50 per paper statement issued by ASX, while electronic delivery of statements and notifications is included in the ASX Issuer Services Subscription Fee. Likewise ASX has offered fee waivers and fee savings through alternate fee models to encourage participant’s support of investor opt-in to electronic communications.
How is take-up tracking and what are you seeing in terms of momentum across the industry?
Karen: Adoption has been building, which is encouraging, but overall take-up has been slower than expected. As of March 2026, 18% of CHESS holder accounts had opted in to electronic communications, and just over 25% of CHESS holding statements were being issued electronically. That gives us a strong base to build on.
Resan: A really positive trend is that most participants have been automatically opting in all new investors to electronic communications when their CHESS accounts are created. That helps build momentum and gives new investors a more modern, digital-first experience from day one.
What are you doing to lift take-up from here, especially for investors who are still receiving paper statements?
Karen: We’re taking a practical, multi‑channel approach largely focused on existing on HIN investors. The ASX Issuer Services team has been progressing a number of initiatives.
Resan: We’re promoting opt-in through social media campaigns and ASX Investor Day communications. And for investors still receiving paper statements, ASX has included an information pamphlet in each monthly CHESS holding statement envelope mailed from March 2026 — explaining how to opt-in and access electronic CHESS holding statements and notifications.
How is ASX working with industry to make the transition to electronic statements as straightforward as possible and effective?
Karen: We formed the Statements Working Group in August 2024 to bring the right voices together and keep momentum going. The group includes 21 member organisations representing participants, issuers, share registries and their industry associations, focused on increasing investor take-up of electronic communications and removing barriers — particularly for existing investors.
Resan: One key initiative has been amendments to the ASX Settlement Operating Rules to address a barrier identified by participants: their ability to rely on negative consent to obtain authority from existing investors to switch from postal to electronic communications, which is particularly useful for converting multiple investors at the same time. Since the 16 February 2026 effective date for the rule amendments ASX has been actively engaging with participants to coordinate plans to convert high numbers of existing investors at a time.
Karen: We want the settings – whether they are rule, operational or fee related to support the behaviour we’re all aiming for. To support the shift to electronic CHESS holding statements and notifications, ASX offers participants a simplified, optional HIN pricing subscription model, where fees for sponsored HIN creation, modification and cancellation typically decrease compared to the existing fee model, once a certain threshold of investors opted in to electronic communications is reached per participant.
Under this model, participants can create, modify and cancel sponsored HINs without limits where the ASX communication preference for those sponsored HINs is email. It’s a tangible incentive, and it helps reinforce the shift to electronic communications.
Resan: Ultimately, we expect the optional pricing model will further incentivise participants to support and promote take-up of electronic statements by their clients.
If you could leave investors and participants with one message, what would it be?
Resan: I’d encourage investors to take a fresh look at their communication preferences and actively opt-in to receiving electronic statements if they can through their participant.
Karen: From our side, we’re focused on making the shift straightforward and valuable for participants.
For more information about electronic CHESS holding statements and notifications, please visit asx.com.au/holder-management
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