Saxo Bank rolls out new version of OpenAPI for Excel

Maria Nikolova

Version 1.3.0 introduces a couple of potentially breaking changes for users of the API.

Online trading and fintech services provider Saxo Bank has earlier this week released a new version of its OpenAPI for Excel.

Version 1.3.0 is the first major update since version 1.1.1 to introduce a couple of potentially breaking changes for users.

Trade functions are now deprecated and removed from the add-in. This important change comes on the back of developments in the market requiring applications with trade access to declare order types (manual or automated). The required changes are minor for most clients, and performance improvements can be expected when switching over from the now-deprecated trade UDFs. This change only applies to clients that use Excel to place trades.

With version 1.3.0, all UDFs in the “OpenAPI Trading” category have been removed from the add-in. To comply with requirements for algo trading tools, users on the Excel platform will have to construct orders ‘from scratch’ using the provided HTTP request functions in Excel:

  • OpenAPIPost() to create a new order, either to open a position or close an existing position.
  • OpenAPIPatch() to modify the details of an existing order.
  • OpenAPIDelete() to remove an existing order.

Except for OpenAPIDelete(), these functions require a body to be provided in the request, which contains the details of the order. This body has to be constructed separately in VBA and should include the required fields as specified by the /trade/v2/orders endpoint. The body is a string containing JSON-structured data.

The following UDFs will no longer be supported:

  • OpenAPIPlaceOrder()
  • OpenAPIEditOrder()
  • OpenAPICancelOrder()
  • OpenAPIAddRelatedOrder()
  • OpenAPIClosePosition()

Clients on earlier versions of the add-in will not directly be blocked from using these functions. It is advised to migrate timely, as new requirements for order placement will not be implemented for deprecated functions. These UDFs will stop working altogether once the requirements for order placement are enforced (planned Q3 2019).

Further, Saxo’s OpenAPI will soon be updated to require algo apps to provide an additional field in order requests indicating whether the order was generated automatically, or sent in manually by a user. The Excel add-in is classified as algo app, since it can be used to completely automate order placement through VBA.

The upcoming change, which is planned to go live during the third quarter of 2019, will block any order that does not identify its origin using the “ManualOrder” field. Orders without this field will be rejected, as it will constitute a hard requirement by the OpenAPI.

In practice, the only change required for current clients on OpenAPI for Excel will be to add the “ManualOrder” field to their order requests. Each individual order is required to have this flag set to either “true” for a manual order, or “false” for an automated order.

Read this next

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

<