Singapore Depository Receipts (SDR)
Benefits of investing with SDR:
Global Access
Invest in overseas listed companies via SDRs through a single marketplace
Cost Simplification
Local brokerage and fees applies. No additional overseas trading fees, foreign exchange fees, or management fees
Convenience
Trade, clear and settle during SGX-ST market hours in SGD
CDP Custody
SDR are custodised with CDP. For non-CDP linked accounts, it will be custodised with sub-accounts under Phillip Securities’s name
Flexibility
Ability to convert between SDRs and underlying securities
Transparency
Announcements on Corporate Actions events relating to SDRs will be published on the SDR issuer’s website
What is SDR?
Singapore Depository Receipts (SDR) are instruments that represent the beneficial interest of an underlying security listed on an overseas exchange. An SDR is issued for trading on the securities market of the Singapore Exchange (SGX-ST) on an unsponsored basis by an intermediary, referred to as a SDR issuer, who does not have a formal agreement with the underlying company.
Each SDR is represented by a specific number of securities listed on an overseas exchange, deposited with a custodian appointed by the SDR issuer in the relevant home market. The underlying securities are registered in the name of the custodian and held on behalf of the SDR issuer who in turn holds the beneficial interest in the underlying securities on trust for SDR holders.
Thai Underlying SDR (Thai SDR)
| No. | SDR Trading Name | SGX Trading Code | SDR:Underlying Securities Ratio | Underlying Company Name |
|---|---|---|---|---|
| 1 | CP All TH SDR | TCPD | 1:1 | CP All PCL |
| 2 | AOT TH SDR | TATD | 1:1 | AOT |
| 3 | PTTEP TH SDR | TPED | 1:1 | PTT Exploration & Production |
Difference between SDR and NVDR
| SDR | Underlying NVDR | |
|---|---|---|
| Ownership | SDR give you beneficial interest in the Underlying NVDR. The Underlying NVDR are registered in the name of the custodian and held on behalf of the Deposit | You own the Underlying NVDR directly. |
| Trading parameters | SDR are traded in Singapore Dollars on SGX-ST GlobalQuote during SGX market hours. | Underlying NVDR are traded in Thai Baht on SET during SET market hours. |
| Custody arrangement | SDR are custodised with the It will be held in broker’s custodian account. | Underlying NVDR are not custodised with the CDP. They are held with your respective custodian. |
| Corporate action entitlements | The Depository will use reasonable endeavours to pass on the benefits of a corporate action to you. However, as set out in the terms and conditions of the SDR, restricted by regulations and conditions imposed by the Underlying Company. The timelines for participating in any corporate actions, if made available to Holders, may differ from the timeline announced by the Underlying Company. |
You will be able to directly participate in the corporate actions, subject to applicable regulations and conditions imposed by the Underlying Company. |
Do you have further queries?
Call us at 6531 1555 or email us at talktophillip@phillip.com.sg. Alternatively, let us know your queries here and we will get back to you shortly.
