Saxo Bank adds new OpenAPI service group

Maria Nikolova

The event notification service group is dedicated to the support of an enterprise wide event notification mechanism.

Multi-asset trading and investment expert Saxo Bank continues to beef up the capabilities of its OpenAPI.

The latest novelty is the addition of a new service group, providing the ability to subscribe to important client related events.

Let’s note that OpenAPI Resources are grouped into Service Groups such as the:

  • Reference Data group giving reference information about the instrument universe, exchanges, sectors etc.
  • Portfolio service group giving information about the current status of clients and their accounts in the live trading system, such as open orders, positions, balances etc.
  • Trade service group giving streaming prices and the ability to place orders and trades.

The event notification service group is dedicated to the support of an enterprise wide event notification mechanism. It currently implements one resource, /ens/v1/activities/ through which a client application can subscribe to information about important events.

The events provided through this system are primarily intended to provide near-realtime updates to a client application or a client enterprise system. This is different from the /trade/messages endpoint which is primarily intended to provide ready formatted feedback to the end user.

The Event Notification Service is only available to select partners on request. To use the Event Notification Service, one has to start a subscription to the /ens/v1/activities/subscriptions endpoint. Developers may specify a range of parameters.

When setting up the subscription the caller must specify which type of activities or events they want to receive information about. Currently four types of events are supported, including: AccountFundings, MarginCalls, Orders and Positions.

It is possible to select the scope of the subscription.This is particularly important if the user setting up the subscription is a user of client in the top of a client hierarchy.

After a successful subscription, data will start flowing via the streaming channel only. Contrary to most other OpenAPI endpoints, this service does not provide initial data via a snapshot. All events, both past events (if a SequenceId or FromDate has been set) and all current events are delivered via the streaming channel.

The OpenAPI is the backbone of trading platforms such as SaxoTraderGO. It offers access to all resources and functionality required to build a high-performance multi-asset trading platform, as well as better integration with Saxo Bank for partners and affiliates through a growing set of resources, such as Saxo’s On-boarding API.

Various clients can utilize the OpenAPI functionality in different ways.

Saxo Bank Premium, Platinum, and VIP clients can build their own portfolio analysis tool, or export their balances and positions into their preferred tool (Excel, R, etc). They can also develop a native application to keep up-to-date with market rates and their account performance. Furthermore, they can develop a targeted trader with an optimized UI for their particular trading style and instrument universe.

Saxo Bank Introducing Brokers and White Label Clients can integrate position/order/balance data from Saxo into their own client portal. The OpenAPI also enables them to build trading functionality into their existing client portal/website. They can also use the IB On-boarding API to simplify the on-boarding of new clients.

Developers of high-end trading and chart analysis platforms may enable their platform for Saxo’s substantial client-base, as well as get client portfolio information and tailor their analysis to the client’s product interests and situation. In addition, they can offer trading on client accounts via their software.

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