1)		Are you a new client with existing shareholdings, or a current client with shareholdings that were not purchased through Direct Broking?
2)		Are those shareholdings registered to a Common Shareholder Number (CSN) that looks something like this:337654321? (Ie. it begins with “33” and has 9 digits in total)
3)		Or are those shareholdings registered to a Standard Shareholder Number (SSN) that looks like this: 13788894 ? (I.e. it does not begin with “33” and appears to be a random combination of numbers)
If you answered “yes” to Question 1 & 3 then please read on, there is a process you need to complete before your shares can be sold.

BACKGROUND

Whenever you purchase NZX shares through a sharebroker those shares are registered to a Common Shareholder Number (CSN).

A CSN always starts with “33” and is 9 digits long.

If you did not have a CSN when you became a client with Direct Broking we have created one for you.

A CSN is unique to the shareholder and is the number that all of their shares are registered to.

A CSN also has a unique Faster Identification Number (FIN) attached to it that acts as a “password” and protects the shareholdings. If the correct FIN is not supplied when selling shares, the shareholdings cannot be accessed by the broker. Shareholders do not need to supply a FIN when they purchase shares.

In the past, some shareholders may have had shares in 5 different companies and had those shares registered to 5 different SSNs. Each SSN would also have its own FIN, making it very hard to keep a portfolio in order.

The introduction of CSNs means that a shareholder can have all of their shares held on one number with one FIN, instead of having their shares spread across multiple SSNs with multiple FINs.

Today, the majority of shareholders have their holdings registered to one CSN - however there are some shareholders who still have shares registered to the older SSNs.

VISUAL EXAMPLE OF SSN:

VISUAL EXAMPLE OF CSN:

REQUIREMENT TO LINK

A sharebroker is not able to use an old SSN to sell shares for a client, unless that client is conducting a One-off sale.

It is therefore necessary to transfer all of the shares that are held on the old SSN to the new CSN – this process is referred to as “linking”.

WHAT YOU NEED TO DO:

1) LIST OF HOLDINGS

If you have shares that need to be linked, you need to make a list of your SSN, FIN and the shares that you own.

Example:

SSN: 13788894
FIN: 6493
My shares: TEL, CEN and FPH

NOTE: If you cannot find your SSN and/or FIN, you need to contact one of the two NZ Share Registries:

	Computershare:	09 488 8700
	Link Market Services:	09 375 5999

2) REGISTRATION DETAILS

Before you proceed it is important to ensure that you’re linking the correct SSN to the correct CSN.

The name and address on the SSN must match, letter for letter, the name and address on the CSN.

See below for some examples:

SSN Details CSN Details

Correct Mary Margaret Murphy Mary Margaret Murphy

Simon Samuel Smith Simon Samuel Smith

25 Big Blue Avenue,
Big City 25 Big Blue Avenue,
Big City

SSN Details CSN Details Corrections to be made

Incorrect Mary Murphy Mary Margaret Murphy Middle name needs to be added to CSN

Simon Smith Mary Margaret Murphy Canot Link shares between two different people
10 Yellow Road,
Small Town 25 Big Blue Avenue,
Big City Address on SSN needs to be changed

25 Big Blue Ave,
Big City 25 Big Blue Avenue,
Big City "Ave" needs to be changed to "Avenue".

If the registration details (name and address) on your SSN do not match those on your CSN, please contact one of the two Share Registries (as listed above) and request a correction/change to your details.

Generally these changes are required in writing and must be signed by all shareholders.

3) THE LINKING

When your details have been updated and they match the details on your CSN you can begin the linking process.

Please do not email or fax the details of your shareholding(s) to us. It is very important that you keep your SSN, CSN and all FINs completely confidential, as you would the PIN on your Eftpos card.

Simply call our Dealing Desk on 0800 805 777 and explain that you need to have your shares linked.

The Dealer you speak to will ask for your Direct Broking Client Account Number and a list of the shares that you need to link – made in Step 1.

If all of your registration details match (discussed in Step 2 above) then the linking process can be done quickly and easily – meaning you will not miss out on a good price.

However if your registration details do not match you still need to contact the Share Registry to have them updated or corrected. Unfortunately there is no easy way around this, so we strongly advise that you iron out any discrepancies before calling Direct Broking.

When your shares have been linked, you will be contacted by the Dealer who arranged the linking for you.

4) TIDYING UP

Now that your SSN has been linked to your CSN, you can deal with the shares as you see fit.

If you haven’t placed your first order yet and are a little unsure about what to do, please read our SELL order Tutorial or our BUY order Tutorial.

If you want to record and track these shares in your online Portfolio, you can find out how to add a line of stock by reading our Portfolio Tutorial.

If you have any queries or concerns about this process, please contact our Dealing Desk:

> CALL FREE.0800 805 777
> EMAIL help@directbroking.co.nz


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