For the longest time, the Singapore stockbroking industry was dominated by local banks and brokerage firms. But with the liberalisation of the industry, many international brokers have entered Singapore offering new products and services at competitive prices. In recent years, discount brokers in particular have proliferated and gained popularity among investors here (especially younger ones) due to their low commissions and fees. With a sea of choices and low prices everywhere, how do ‘traditional’ stockbrokers compete and remain relevant to the Singapore investor? The Central Depository Unique to Singapore is the Central Depository (CDP) securities account operated by Singapore Exchange (SGX). When you open a CDP account in Singapore, it serves as a centralised holding account that safekeeps your investments in SGX-listed stocks and bonds. Having a centralised account like the CDP means that even if you decide to switch stockbrokers in the future, you won’t have to move your...