Saxo Bank OpenAPI implements changes to Trade Allocation Keys

Maria Nikolova

The change whereby Trade Allocation Keys are no longer allowed to include a broker account has been released.

In line with earlier FinanceFeeds’ reports, multi-asset trading and fintech expert Saxo Bank has implemented changes to its OpenAPI whereby Trade Allocation Keys are no longer allowed to include a broker account has been released.

In case the traded amount does not match the total number of units in the key, there can be one or several remainders when allocation, typically through partial fills. Therefore an allocation key must always include at least one account designated to receive the remainder.

Before the change, it was possible – through OpenAPI – to specify an allocation key, where:

  • All of the client accounts have been specified an AcceptRemainderAmount property set to false;
  • The broker account is also included, but with the AcceptRemainderAmount property set to true and a UnitValue property of 0;
  • As a result any remainder would be placed on the brokers account.

After the latest changes to the OpenAPI, this is no longer possible. Now:

  • An allocation key can only include client accounts.
  • One of these accounts must have the AcceptRemainder property to true.
  • Trying to create a key which violates these rules will be rejected.

Trying to place an order, with a previously defined key which violates these rules, will also be rejected.

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