At Superhero, a custodian holds shares on behalf of our customers for safekeeping.
Your shares are held by FinClear, our market, clearing and settlement participant on behalf of Superhero. FinClear is used by many major brokers in Australia and holds all of the CHESS-sponsored shares for customers of brokers such as Stake, WeBull, Shaw and Partners and numerous other firms.
As a regulated entity, FinClear holds the legal title as a separate entity from Superhero (so there’s a clear separation between our operating business and your shares).
Having a custodian ensures that the beneficial owner (that’s you) is the only one who can give instructions on what to do with your shares: be it buy more, sell some or transfer them to another broker. That is also true for creditors, who have no legal right to access your assets if Superhero were to no longer operate.