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Longer time to open CDP accounts as more apply for fixed income products

Yong Jun Yuan

Yong Jun Yuan

Published Fri, Sep 16, 2022 · 10:14 AM
    • SGX has mobilised extra resources to manage the surge in applications.
    • SGX has mobilised extra resources to manage the surge in applications. PHOTO: BT FILE

    THE Singapore Exchange (SGX) has seen a sharp increase in the number of Central Depository (CDP) account applications. This has stretched the processing time for CDP account activations to a minimum of 20 business days, from the usual 2 to 7 business days.

    On Aug 13, a thread on the Singaporefi subreddit emerged after a user asked if it was normal for CDP applications to take more than a month to activate.

    Other users commented that it took about 3 weeks for their accounts to be activated.

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