Saxo Bank Introduces New Compliance and Trading Changes

Saxo Bank trading changes introduce new compliance measures to OpenAPI and Excel, impacting developers and traders. These updates will affect trading processes and require adaptation to ensure regulatory adherence. The bank is implementing new compliance and disclaimer protocols to enhance regulatory oversight and improve the user experience. 

These changes will specifically affect trade execution through the Excel Add-in. One key update is introducing an Appropriateness Test (APT) requirement. Saxo Bank will ask clients to complete this test before they can trade specific products. The APT will help determine whether a client has the necessary knowledge and experience to understand the risks associated with the chosen products. 

Saxo Bank Introduces New Compliance and Trading Changes

Along with the APT, Saxo Bank will also begin displaying various disclaimers and messages that clients must accept before proceeding with any trades. Traders should know that the orders/precheck endpoint may present these disclaimers. Some disclaimers classify as “blocking,” preventing trades if the client is not authorized to trade, often due to an incomplete or missing Appropriateness Test. Moreover, the system categorizes other disclaimers as “non-blocking,” requiring client acknowledgment before proceeding. 

These disclaimers may fall into “normal” or “recurring” types, depending on the situation. In the event of a blocking disclaimer, clients can resolve the issue by completing the Appropriateness Test and accepting any necessary disclaimers directly through the SaxoTrader platform. This process will ensure compliance with the new requirements, allowing clients to continue trading activities without disruption. 

Saxo Bank’s updates reflect a broader trend of tightening regulatory measures across the financial sector. The changes aim to enhance client protection by fully informing users of the risks involved in their trading activities. Lastly, Saxo advises developers and clients to use its OpenAPI tools to prepare for these changes and ensure smooth and compliant trading.

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• Saxo Bank provides a premier multi-asset trading platform.
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• Traders benefit from an extensive toolkit and premium features.
• Saxo Bank delivers a comprehensive and immersive trading experience.

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