Saxo Bank enhances Saxo Portfolio Manager

Maria Nikolova

Trading from SPM on Australian, Japanese, Singaporean and Hong Kong exchanges is now starting from AM local time, whereas the Order Management integration fully supports algorithmic orders.

Saxo Markets, the institutional division of multi-asset trading and investment services provider Saxo Bank, has informed its white label partners and other institutional clients of the latest improvements introduced to the Saxo Portfolio Manager (SPM).

SPM integrates the eXimius Portfolio Manager, delivered by Objectway Financial Services, into Saxo Bank’s trading and custody infrastructure. Thus, SPM offers wealth managers a way to run their business on a highly professional portfolio management system (eXimius), while also making use of Saxo Bank’s product range, market access and order execution capabilities.

SPM provides an automated solution for solving daily tasks such as portfolio analysis, risk and regulatory compliance, client reporting, order management and rebalancing, alerting, monitoring and performance measurement.

The integration of the eXimius platform into Saxo Bank’s infrastructure consists mainly of two key integration points: Order routing (OMS) and Back Office (BO). These integration points are undergoing marked improvements, the bank says.

The BO integration, for instance, has recently become real-time. From early European hours until after US market close SPM is now instantly updated with everything coming from Saxo’s Back Office. This way, client onboarding and control of execution have been facilitated.

Also, the Order Management integration now fully supports algorithmic orders.

Along with the improved BO integration, Saxo has also been able to boost the overall system readiness. Trading from SPM on Australian, Japanese, Singaporean and Hong Kong exchanges is now supported starting from AM local time. Prior to the enhancements, trading from SPM was only starting PM local time.

In terms of future improvements, Saxo says that changes are planned for wealth managers who need to comply with MiFID II. Among the novelties to be offered are: PDF reports for periodic reporting; Depreciation reporting; and Cost reporting.

Saxo Bank has been adapting its services in line with the new regulatory requirements. Earlier this year, Saxo Bank informed its customers that in tune with the new MiFID II regulations, it cannot pay inducement to IBs providing discretionary portfolio management to the customers or independent advice, as of July 1, 2017. The company then unveiled plans to implement a selection of solutions that will enable its IBs to work within certain boundaries or move to a non-inducement fee model.

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