Rush for Singapore government securities means it now takes 20 business days to open a CDP account

SGX expects to halve the time taken to open CDP accounts to 10 business days by January. PHOTO: THE BUSINESS TIMES
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SINGAPORE – Applications for new Central Depository (CDP) accounts have shot up so much recently that it now takes at least 20 working days to open one – well up on the five days it normally takes.

Account applications exceeded 19,000 in November – a 60 per cent increase from August, when applications were already almost six times the typical monthly level, a Singapore Exchange spokesman told The Straits Times.

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