Saxo Bank Improves AutoTrading and Client Management Groups, Updates OpenAPI

Saxo Bank, a multi-asset investing expert, has recently published a new version of its OpenAPI, which includes changes to many service groups.

A new endpoint was added to the AutoTrading service group, which returns the acceptance status for the terms and conditions for auto trading (“Saxo Select”) for the currently logged-in customer.

There is a new document type in the Client Management Service Group: “TaxSavingsAccountWithTransfer.” A new area, “Minor Information,” has been added to the “Personal Information” section.

New entries were added to the enum “CostAssumptions” in the Client Services group: “InterestEstimationCalculatedOnValueDate” and “MarginLoanEstimationOnCashAvailable.”

A new section “AlgoOrderData” has been added to the Port service group.

Take notice that Saxo Bank intends to make significant improvements to its OpenAPI in October 2022. It will no longer be allowed to make a corporate action election with a total of zero (0%).

OpenAPI from Saxo Bank provides access to all resources and capabilities needed to construct a high-performance multi-asset trading platform.

Improved integration with Saxo Bank for partners and affiliates through an expanding collection of resources such as Saxo's Onboarding API.

About Saxo Bank

The Danish investment bank Saxo Bank specializes in internet trading and investing. Lars Seier Christensen, Kim Fournais, and Marc Hauschildt established Midas Fondsmglerselskab (English: Midas Stockbroker Company) as a brokerage business in 1992.

When the firm got a banking license in 2001, the name was changed to Saxo. Saxo provides trading in Forex, equities, CFDs, futures, funds, bonds, and futures spreads through its online platforms.

The firm operates as an internet broker with a bank license, but does not provide typical banking services. According to Saxo, relationships with institutional trading partners account for nearly half of its business. More than 100 financial institutions worldwide use Saxo Bank's white-label systems to serve their end customers.

Saxo Bank's headquarters are in Copenhagen, but it also has offices in London, Paris, Zurich, Dubai, Singapore, India, and Tokyo. The bank claims to have customers in 180 countries and a daily average turnover of around US$12 billion.

Saxo Bank is well-known for its achievements in online trading and finance, and it has won many honors. The bank is particularly recognized in Denmark for its two founders, who are frequently active in Danish politics. In 2014, revenue was DKK 3,006 million, with a net profit of DKK 381.2 million. It employs 1600 people.

Saxo Bank has formed various white-label relationships with financial institutions like Standard Bank, Old Mutual Wealth, Banco Carregosa, and Banco Best.

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