Statements to retail investors going electronic from Q4

STARTING from the fourth quarter, all retail securities brokers in Singapore and The Central Depository (CDP) will progressively provide electronic statements to customers.

This environment-friendly move is a collective effort among retail securities brokers and the CDP in reducing their carbon footprint, while delivering account statements, trade contract details and confirmations of securities movements to customers in a timely and secure manner.

With the roll-out of this initiative, retail and CDP customers who are already receiving electronic statements will no longer receive physical copies of the statements.

But those who have not signed up for Internet trading accounts or CDP Internet service will continue to receive hardcopy statements.

The nine retail securities brokers in Singapore are all members of the Securities Association of Singapore (SAS) and the Singapore Exchange (SGX). The two parties issued a joint statement on Wednesday.