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How to prepare the application form online via TC Ops

This guide walks you through creating a new trading account application in TC Ops. 

⚠️ Important: Do not submit the online form for review until you have:

  1. received the signed FinClear application form from the client, and
  2. completed all required AML/KYC checks. 

Step 1: Open a new application and enter account details

  1. In TC Ops, go to "New Trading Account"  and start a new application.
  2. Complete the Account Details section:
Field What to enter
Account Type Private Client for most standard accounts. Otherwise choose Institution or Staff Account.
Adviser Your adviser code. Branch, Organisation and Department fill in automatically.
Brokerage The brokerage rate for this account. Rates must include GST and FinClear fees. If the rate you need isn’t listed, raise a ticket through the Client Support Portal.
CHESS New CHESS HIN (generates a brand new HIN for the client),
DVP (for clients settling through a custodian) or
Non-CHESS (not generating a new HIN)
Legal Entity The account’s entity type, e.g. Individual, Joint, Company, Trust or SMSF.

 💡 Transferring a HIN? Select Non-CHESS. Once the account is open, follow the HIN IN transfer guide.   

Step 2: Enter entity details (SMSF, trust or company only)

  • Legal Entity Name: Enter the full name of the trust or company.

Skip this step for individual and joint accounts.

Step 3: Add the applicants

Add each applicant and select the correct Type:

Account structure Applicant 1 Other applicants
SMSF or trust with a corporate trustee Corporate Director
SMSF or trust with individual trustees Trustee Trustee
Company Director Director
Individual or joint Individual Individual
  • TFN - Whilst your client is not obligated to supply a TFN to registries, a higher tax rate may be applicable if not supplied. Note: FinClear does not provide tax advice. 

 Step 4: Set up the CHESS registration and account name 

CHESS Registration & Account Name 

  1. Designation: This is required for trust, SMSF and minor accounts. Use up to 32 characters and end it with A/C.
    Example: for “Robinson Superannuation Fund”, enter Robinson Super A/C. 
  2. Account Name – Click autofill to populate the account name.
  3. CHESS Address - From the dropdown, choose which address will be used as the CHESS address, then click autofill to populate the CHESS registration details. 
    Check the result and edit it if needed, for example to use a different address or to meet character limits. 

TC Ops has built in validation of CHESS requirements and will show an error message if these are not met. Further details can be found in Section 5 of ASX Settlement Procedure Guidelines.

 Step 5: Set up cash settlement 

  1. Financial Settlement Type: For standard accounts select BPAY or Direct Transfer
  2. CMT Fund – If applicable, select account provider from drop down list, otherwise select "None" for standard bank accounts.  
     ⚠️If you select Macquarie (MBLA) CMT: The client must submit a Third Party Authority form to Macquarie before trading. Otherwise settlements may fail.
  3.  Cash Settlement Method: Choose how trades settle against the bank account: 
Method How it works
Line by line Each trade is debited or credited in full. Nothing is netted.
Offset Available credits are offset against debits, and only the net amount is debited or credited.
Same Day Netting Credits are offset only against debits with the same settlement date. Future-dated debits are not included.
 
4. Account Indicators:
  • Tick Credit to make this the default account for settlement credits.
  • Tick Debit to make this the default account for settlement debits by direct debit.

    ⚠️ Direct debit: If you tick Debit, the client must sign the Direct Debit page of the FinClear Account Opening Form.

5. Attestation:
The settlement bank account must be in the same name or entity as the trading account. Check this, for example against a bank statement, then tick the attestation. For more detail, see the FinClear Third Party Payment Guide.

 Step 6: Add contract note recipients 

Under Cnote Distribution, add every email address that should receive contract notes (trade confirmations). Recipients can include the account holder, the adviser and third parties.

  • At least one email address must belong to the account holder.
    ⚠️If you leave this blank, contract notes are posted and an additional fee applies 

 Step 7: Add tags (optional) 

To include the account in an external vendor data feed (e.g. Praemium):

  1. Select Add Demographic.
  2. Set Class Type to EXFEED.
  3. Choose the data feed.

If the feed you require is not visible or you would like to know more about how to use Tags & Demographics, please contact the Relationship Management team.

 Step 8: Save and generate the client form 

  1. Save the application as a draft. Don’t submit it yet.
  2. Generate the PDF application form and send it to the client to sign.
  3. Once you have the signed form and have completed AML/KYC checks, submit the application for review.

For further assistance please contact our Account Services Team.