What is a CDP Account?
Very simply, the term “CDP” means “Central Depositary” and has 3 main roles: Being a Central Counterparty, a Securities Settlement System, and a Central Securities Depository. CDP was established by SGX (Singapore Exchange) in 1987 and secures all your transactions of Singaporean shares. More financial jargon, yes. But I’ll walk you through what these terms mean!If you’ve just started your journey in personal finance, you’ll likely encounter the term “CDP Account” sooner or later.
Just one of the many phrases in financial jargon that may seem daunting to some of you unfamiliar with the financial industry.
But fret not, we’ve been there done that (just like Pitbull), and we’re here to explain what exactly a CDP account is.
By the end of this article, you should be equipped with all the knowledge when it comes to CDP accounts.
