At Saxo, we don't open CDP account on behalf of Singapore clients. We open a separate custodian account at HSBC for them to hold SGX products. It is also the requirement of MAS that Singapore citizen/PR must have a segregated custodian account to hold SGX products. Only after the segregated account has been set up then SG clients can trade SGX products.
FAQ:
- Why cannot I find any SGX stocks on my platform?
If your account has just been opened and not funded yet, you will have to fund it first. We will then enable the SGX access on your account in 3 business days.
- I’ve funded my account but why I still cannot find SGX stocks on my platform?
For a client who has just funded the account, the SGX access will be automatically enabled in 3 business days. You can check the access on your platform again within 3 business days. If after 3 business days, you still cannot find it please let us know. We will check for you.
- I hold Singapore ETF position but when I go to SGX website, I don’t see this holding there in my CDP account. Why is that so?
As your Saxo account does not link to SGX CDP, all Singapore stocks that you have traded in your Saxo account will not be shown in your CDP account. All Singapore stocks that you have traded in Saxo are held with our custodian, HSBC Singapore.
- Can I use my CPF/SRS funds to buy Singapore stocks?
No, we do not allow clients to do so as we do not link the Saxo account to CPF.