Please be informed of the following important updates to bond trading.
Custody-Based Trading Accounts (Effective 4 May 2026)
From 4 May 2026, only custody-based trading accounts will be eligible for online bond transactions.
The following account types will no longer be supported online bond trading:
- Cash Management Account (KC)
- Cash Trading Account
Please contact me to place orders.
To facilitate a smooth transition, the following fee waivers will apply:
Waiver for Seamless Transition (Valid until 31 December 2026)
- Direct CDP → Custody-Based Trading Accounts
Transfer-in fees for wholesale bonds will be waived. - Internal Transfers of Foreign Bonds (Cash / KC → Custody-Based Accounts)
Transfer fees will be waived for foreign bonds transferred into custody-based accounts within PSPL.
Note: All waivers are valid until 31 December 2026.
Platform Enhancements & Fee Structure for Bond Transactions
Poems is currently enhancing their bond trading platform to improve transparency and overall client experience.
The enhanced platform is targeted to be launched on 4 May 2026.
A commission of 0.25% of the nominal value will be applied to all bond transactions under the enhanced platform.
This shift to a commission-based model (instead of spread mark-ups) is designed to better serve Poems clients by offering:
- Greater pricing transparency – clients see exactly what they are paying
- No hidden mark-ups embedded in prices
- Clear and consistent fee structure across transactions
- Improved price discovery, ensuring transactions closer to true market levels
All charges are subject to prevailing GST.
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