Have you ever wondered: “What is a 'CDP' for and why do I need it?” “How do I sign up for a CDP account?” “Why do the figures in my brokerage statement not match with my CDP statement?” Then you have landed on the right article. Here, we will cover what a CDP is, why you need it,  and why you don’t have to panic when your CDP statement doesn't match your brokerage account statement. Let’s begin! Quick Navigation What Is A CDP Account? A CDP Account is a Central Depository Account (Henceforth referred to as CDP) If you want to buy and own your first shares, you will need to set up a CDP. A CDP account acts like your personal safe for your stocks. Whenever you buy a share in a listed company through the open market, it gets deposited into your CDP account. How To ...