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How to prepare the application form online via TC Ops

Guide to form fields in TC Ops Account Opening. 

 Account Details

  • Account Type - Private Client (for most standard accounts), Institution or Staff Account.
  • Adviser - Select your Adviser Code (Branch, Organisation and Department will default)
  • Brokerage - Select applicable brokerage to the account that you are setting up. If the brokerage you need is not on the list, please raise a ticket via our Client Support Portal. All brokerage rates should be inclusive of GST and FinClear fees. 
  • CHESS - Select from New CHESS HIN, DVP, or Non-CHESS. For HIN transfers, please select non-CHESS.
  • Legal Entity - Select relevant Account Type

SMSF/Trust/Corporate Details:

  • Legal Entity Name - Full name of trust or company

Applicant Details :

  • Type - For corporate SMSFs and Trusts, Applicant 1 Type must always be "Corporate", and subsequant applicants "Director". 
    For other entity types,  select Individual (for individual or joint accounts); Trustee (for a trust/SMSF with individual trustees)or Director (for a company).

  • 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 do not provide tax advice. 

CHESS Registration & Account Name 

  • Designation - If the account is a trust, SMSF or minor entity type, please enter a designation. The designation should be 32 charcters including A/C at the end. e.g. for an SMSF named "Robinson Superannuation Fund", the designation would be "Robinson Super A/C". 
  • Account Name – Click autofill to populate the account name. 
  • CHESS Address - From the dropdown, choose which address will be used as the CHESS address, then click autofill to populate the CHESS registration details.  This can be amended if a different address is required, or if any tweaks are needed to fulfill CHESS registration requirements e.g. character length. 
    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.

Cash Settlement Details

  • Financial Settlement Type – For standard accounts select BPAY or Direct 
    Transfer.
  • CMT Fund – If applicable, select account provider from drop down list, otherwise select "None" for standard bank accounts.  If you select Macquarie MBLA as a CMT Fund, you must submit a Third Party Authority form to Macquarie prior to trading, failure to do so may result in failed settlements. 
  • Cash Settlement Methods
    Line by line     – FinClear debit/credit the linked bank account for each trade, for the full value.There is no netting of credits/debits. 
    Offset – Available credits will offset with debits, and the net settlement 
    value debited/credited from the default linked bank account.
    Same Day Netting – Available credits will be offset against debits with the same settlement date.  Future dated debits will not be include in the netting.
  • Account Indicators
    Credit - Tick to default the bank account for settlement credits
    Debit - Tick to default the bank account for settlement debits via Direct Debit. Client must sign the Direct Debit page of the FinClear Account Opening Form. 
  • Attestation - Settlement bank accounts should be in the same name/entity as the trading account. Tick the attestation to confirm you have completed verification of this e.g. by checking a bank statement. For more information please see FinClear's Payment Policy.
  • Cnote Distribution - Add all e-mail addresses that you would like to receive contract note copies (trade confirmations). You can include the account holder, adviser, and/or a third party - at least one email address must belong to the account holder. If this section is left blank, contract notes will be posted for an additional fee. 

Tags

  • To include the account in an external vendor data feed e.g. Praemium, select Add Demographic, Class Type "EXFEED", and select which data feed you would like. 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.

Once you have completed the online form, save as a draft and follow this guide to generate the PDF application form for the client to sign.

Reminder: do not submit the online form for review until you have obtained a signed FinClear application form from the client and completed all required AML/KYC checks. 

For further assistance please contact our Account Services Team.