DBS and SGX team up to allow opening trading accounts online

People queuing up at a DBS ATM machine at Raffles Place.
People queuing up at a DBS ATM machine at Raffles Place. PHOTO: DANIEL NEO FOR THE STRAITS TIMES

SINGAPORE - DBS Bank announced on Monday (May 23) that customers will now be able to open trading accounts and link those to existing Central Depository (CDP) accounts digitally.

This is done in collaboration with Singapore Exchange (SGX).

They just need to log into their internet banking accounts to do so.

Previously, customers would have to visit a branch or sign and mail in multiple sets of forms to just open a trading account.

The process would usually take about 10 days before customers can start trading, but now they will be able to access their accounts much quicker, as soon as four days.

rachaelb@sph.com.sg