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
Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.