These terms are more relevant when you intend to purchase stocks and shares in Singapore. CDP is a depository account that applies to the securities market in Singapore. With a CDP account, you will be able to purchase stocks legally in your name and become the owner of the stocks you've purchased. Since the stocks are now yours, you’ll have access to all the benefits of a stockholder. Your CDP account also stores your SGX stocks in a centralised location, so you can buy and sell from different brokerage firms. The downside of storing your stocks in your CDP account is cost – you may incur more fees when you buy and sell via brokers but transfer your stocks to your personal CDP account instead of storing them in a custodian account managed by the brokerage. With a custodian account, your stocks are in the custody of the brokerage firm. This means you’re not the rightful owner of your purchased stocks because they’re held under a trust. While a custody account may grant you lower trading fees, you’ll still incur additional account maintenance fees if you don’t fulfil the quarterly trade requirements. In Singapore, most brokerage firms hold your stocks with the CDP. So, even when you execute the trade through them, no one else owns the stocks but you.