Glossary

Broker Sponsored Holding Where a security owner has an agreement with a broker which gives the broker full operational control over the holding through CHESS.
Buffer An amount by which your loan balance can exceed the market-based limit of your portfolio before a margin call is made.
CHESS The Clearing House Electronic Subregister System or "CHESS" electronically transfers title betwen buyers and sellers of securities traded on the Australian Stock Exchange (ASX). It also enables the electronic settlement of transactions between CHESS participants.
Credit Limit The amount which the Provider has agreed in writing to lend to you.
Current Loan Balance Means the aggregate of the Loan and the value (as determined by Macquarie) of any committed but as yet unsettled transactions.
HIN The Holder Identification Number is the identifying number allocated to the account where shares are held in CHESS.
Imputation Credit (or Franking Credit) Taxation credits which are passed on to shareholders who have received franked dividends in relation to their shareholding.
Investor Directed Portfolio Services (IDPS) Incorporates both Wrap Accounts and Master Trusts. These are services that allow investors to hold and trade a wide range of securities through a centralised administration system and offers consolidated reporting.
Issuer Sponsored Holding An uncertified security holding which is controlled by the issuing company.
LVR The percentage of a security's value that Macquarie is prepared to lend you.
Margin Call If the current value of your portfolio falls, your current loan balance (the amount you have borrowed from Macquarie) stays the same but your current gearing level will rise. If your current gearing level rises to a level above your maximum gearing level, a margin call occurs.
Market Based Limit The market-based limit for your portfolio equals each security's market value multiplied by the applicable LVR.
Market Value The current market value of your investments. Calculated as the number of units (holding) multiplied by the current share/unit price.
Master Trust A service that allows investors to hold and trade a wide range of securities through a centralised administration system and offers consolidated reporting.
Maximum Gearing Level The maximum allowable gearing level based on your current portfolio. Calculated as the market based limit divided by the portfolio market value.
Sponsored Holdings For individual shareholders to transact through the CHESS system, their shareholding must be sponsored by a CHESS participant (e.g. Macquarie). Statements that show your current holding are produced and sent to you by CHESS as shares are transferred in and out of your HIN.