Today, when you trade Singapore shares via Citibank's Brokerage platform, your Singapore shares are delivered to or deducted from your account held in Central Depository Pte Ltd ("CDP") on settlement day.
After 18 July 2016, your Singapore shares will be custodised with Citibank and/or its nominees when you trade in Singapore shares via Citibank's Brokerage Platform.
|Share Transfer-Out Fee|
|To CDP||SGD10 per counter. Prevailing GST applies|
|To External Counterparty||SGD30 per counter. Prevailing GST applies|
Your Singapore shares will be custodised with Citibank and/or its nominees, within your Securities Brokerage account. The nominee selected by Citibank for the custody of the Singapore shares is Citibank N.A. (Singapore Branch), Securities and Funds Services.
With effect from 18 July 2016, Singapore shares purchased via Citibank Brokerage platform will be custodised with Citibank and/or its nominees.
With effect from 18 July 2016, you will no longer be able to sell Singapore shares held in CDP via the Citibank Brokerage platform.
You can start transferring Singapore shares into your Citibank account from 18 July 2016 onwards.
You may return the Consent Form enclosed with the Letter of Notification. Alternatively, you may login to your Citibank Online to submit your consent electronically.
You will no longer be able to trade in Singapore shares using Citibank's Brokerage platform. Your individual CDP account will be automatically delinked from your SGD Cash Trading Account. Please ensure that you have a functioning trading account with other broking houses should you wish to continue to trade the Singapore shares in your CDP account.
With effect from 18 July 2016, you will not be able to effect any trades of Singapore shares.
You will be notified by mail, email and SMS alerts. Therefore, it is critical that your contact information in Citibank's records is kept up-to-date.
The new custody arrangement will not have an impact on your Margin Trading Account. Your Singapore shares are already custodised with Citibank and accessible through your preferred external brokers.
The new custody arrangement will only affect trades in and custody of Singapore shares. There is no change to US and HK market trades, it will continue as per normal.
If you have submitted your account opening application form before 6 May 2016, we will be sending you a new set of Brokerage account opening forms, which will reference the updated Terms and Conditions relating to the new custody arrangement. Please submit the new set of forms if you would like us to proceed to open a SG brokerage account for you. Please note, however, that while we transition to the new custodial arrangement, you will not be able to trade in Singapore shares until 18 July 2016.
Citibank will absorb the transfer fee incurred by Citigold and Citigold Private Clients for the first transfer (no limit to number of counters) of Singapore shares from CDP to your Citibank brokerage account.
Subsequent transfers of Singapore shares from CDP will incur CDP transfer fee at $10.70 per counter (inclusive GST). This waiver is offered on a one-time basis and will not be ongoing. To qualify for waiver, shares have to be transferred before 18th October 2016, after which transfer fees will be charged.
Anything that is listed on the Singapore Exchange, except for delisted shares and retail bonds.
Yes, you can still receive payments from CDP into your Citibank cash account.