Saxo Bank enhances transparency of “Account Details” section

Maria Nikolova

The “Transactions not booked” section in “Account Details” will be expanded to include provisional amounts that are calculated daily, but booked monthly.

Saxo Markets, the institutional business division of multi-asset trading and investment expert Saxo Bank, has informed its clients of pending changes to the “Account Details” section.

From September 15, 2017, there are set to be improvements to the “Transactions not booked” section in the “Account Details” panel. The “Transactions not booked” section will be expanded to include provisional amounts that are calculated daily, but booked monthly. Provisional amounts will include:

  • CFD finance;
  • Futures, CFDs on Futures and listed options carrying costs;
  • Option holding fees.

The bank adds that CFD Finance and Interest calculations details will still be available in the detailed reports.

The company explained that it is making the improvements in an ongoing effort to enhance the user experience and to boost the accuracy of account value details.

Talking of changes to Saxo Bank’s services, let’s recall that the bank has recently informed its White Label clients it will be separating the configuration of stock and bond collateral factors from the current margin requirement profiles into a separate collateral profile. The new collateral profile will be available from October 2, 2017 and will be configurable on a client level via SaxoTools and the CMS API (as the margin requirement profile is at present). To provide a smooth transition for clients with custom margin requirement profiles, Saxo will automatically assign a collateral profile to the White Label partners’ clients that result in unchanged collateral terms unless instructed otherwise not later than September 22, 2017.

Saxo Bank is introducing a number of changes to its offering in line with the new EMIR and MiFID II reporting rules. For instance, the bank has informed its white label partners that all corporate entities need to provide their LEI (legal entity identifier) by October 1, 2017. In case Saxo’s partner is delegating EMIR reporting to Saxo, the bank will also have to be provided with LEIs on all of the partner clients falling within this definition.

Earlier this year, Saxo deployed measures to comply with one particular provision of MiFID II that bans investment companies from receiving and keeping any fees, commissions or other payments in money or in kind from (inter alia) investment funds in connection with the provision of discretionary portfolio management to the customers. This particular rule, known as a ban on IB inducements, came into force on July 1, 2017 in Denmark. Saxo Bank A/S, as well as other Danish companies covered by the rule, halted the payment of inducement to IBs providing discretionary portfolio management to the customers or independent advice, as of July 1, 2017.

Read this next

Digital Assets

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.

blockdag

Presale Power Players: 5 Crypto Presales Primed for Success in 2024 According to Experts

Unlock the potential of the best presale cryptos available now. See why experts recommend BlockDAG, Bitbot, eTukTuk, 99Bitcoins Token, and ButtChain.

Executive Moves

Paxos axes 65 jobs, cuts headcount to below 300

Stablecoin issuer Paxos has laid off 65 employees, equating to 20% of its staff, despite maintaining a robust financial standing.

Institutional FX

US sanctions trigger major shifts in Russian FX market, says Sergey Romanchuk

The U.S. sanctions imposed on June 12 against the Moscow Exchange and its clearing entity, the National Clearing Center (NCC), are set to cause massive disruptions in the Russian currency market, according to FX industry veteran Sergey Romanchuk.

blockdag

BlockDAG’s X1 Miner App Beta Sparks $49.2M Presale Rise; Uniswap & XRP Whales Getting Involved?

Experience BlockDAG’s meteoric 1120% presale rise, Uniswap’s UNI climbing 18%, and Ripple’s XRP anticipating ETF approval. Explore their latest breakthroughs!

Market News, Tech and Fundamental, Technical Analysis

GBPUSD Technical Analysis Report 13 June, 2024

GBPUSD currency pair can be expected to fall further toward the next support level 1.2700, which has been reversing the price from last month.

Institutional FX

U.S. sanctions halt dollar and euro trading on Moscow Exchange

New U.S. sanctions against Russia have led to the immediate suspension of trading in dollars and euros on the Moscow Exchange (MOEX), the country’s largest exchange group.

Digital Assets

MicroStrategy raises $500M to buy more Bitcoin, now holds 214,400 BTC

MicroStrategy, the largest corporate investor in bitcoin, plans to raise $500 million through a convertible senior note offering, with an option for an additional $75 million.

Crypto Insider

7 Best Upcoming New Crypto Coins : From  World of Virtual and Augmented Reality

In 2024, all new buyers want to know about the best upcoming new crypto coins. For those who have invested before, you know that there are often “hidden gems” that can give you huge returns on your money.

<