Posted on singaporetradingonline.com.
What is the CDP?
The Central Depository (Pte) Limited (CDP) is a subsidiary of the Singapore Exchange Limited (SGX). CDP provides depository, clearing, settlement and computerised book-entry services for securities traded on the Singapore Exchange Securities Trading Limited (SGX-ST).
The CDP provides depository, clearing and book-entry settlement services for the Singapore stock market.
As a depository, CDP provides central nominee services. It is the central party which holds the shares on behalf of investors in CDP securities accounts.
As a clearing house, CDP also clears and settles all transactions in the stock market through its book-entry settlement system. Clearing takes place instantaneously once your trade is executed and we become the central counterparty, so it guarantees the trade for both the buyer and seller. Once CDP receives the details of the matched orders, it settles all trade positions by moving payments and shares to the rightful parties. After which, its book-entry settlement system will reflect all changes in share ownership in the CDP securities accounts concerned.
Q: What other services does CDP offer?
A: The CDP also offers a suite of depository services from account maintenance and custodial services, processing and distribution of entitlements to new issue distribution.
Approach friendly CDP Customer Service Officers at their counters if you have any questions concerning your shares, entitlements and other CDP services.
They’re there to help you to:
Open or close your CDP direct securities account
Deposit and/or withdraw scrips, which are the physical certificates reflecting ownership of your shares
Transfer your shares
Update your personal particulars change in your signature
Check your latest or backdated shareholding balances
Exercise your rights entitlements
Process your application for CDP services like Direct Crediting Service (DCS), CDP Internet Access and CDP Phone
CDP Customer Service Counters are located at 11 North Buona Vista Drive
The Metropolis Tower 2
CDP’s counter services are mostly free of charge. However, there are certain administrative costs that are payable for services like deposits, withdrawals and transfers.
New issue distributions (IPOs) are credited into the accounts of successful applicants by the CDP.
Corporate actions will be the company’s distribution of entitlements, if any, to you. Dividends, rights and bonus issues fall under such corporate actions.