What are the descriptions?
Each debt and hybrid security has a unique code and three different security descriptions:
- Long form description - a maximum of 50 characters;
- Abbreviated description - a maximum of 20 characters; and
- Short description - a maximum of 9 characters.
You will find one or more of these descriptions on your CHESS Statement, trading screen, broker advice, financial newspaper report such as in the Australian Financial Review and other places where ASX debt and hybrid securities are referred to.