The Clearing House Electronic Subregister System (CHESS) is operated by the ASX.Which of the following statements regarding CHESS is incorrect?
A) The system allows settlement of transactions within three working days.
B) A shareholder must conduct a CHESS transaction with a sponsor.
C) Shareholders can still hold traditional share certificates.
D) The clearing house issues holding statements to uncertified shareholders.
Correct Answer:
Verified
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