Saxo Bank OpenAPI enhances Corporate Actions service group

Multi-asset trading and investment specialist Saxo Bank has rolled out a new version for its OpenAPI, the backbone of trading platforms such as SaxoTraderGO.

The latest version of the API enhances several service groups, including Client Management, Cliet Services, Corporate Actions, and Reference Data.

There is a new field added to the MarginCall event: “TimeOnMargin”. There is also a new event supported: “Corporate Actions”.

Corporate Actions are events initiated by companies who are issuers of securities. These events give opportunities to the owners of these securities to receive benefits or take part in certain activities. Holdings are units of shares or other instruments of owners, which are usually the starting point of all the corporate actions. These events could be:

  • Cash Dividend (DVCA): Distribution of cash to shareholders, in proportion to their equity holding. Ordinary dividends are recurring and regular. Shareholder must take cash and may be offered a choice of currency.
  • Dividend Option (DVOP): Distribution of a dividend to shareholders with a choice of benefit to receive. Shareholders may choose to receive shares or cash. To be distinguished from DRIP as the company creates new share capital in exchange for the dividend rather than investing the dividend in the market.
  • Conversion (CONV): Conversion of securities (generally convertible bonds or preferred shares) into another form of securities (usually common shares) at a pre-stated price/ratio.

Saxo supports more than 70 types of events. The /ca/v2/events/eventtypes endpoint returns the full list of available event types.

The company regularly updates its OpenAPI, which offers:

  • Access to all resources and functionality required to build a high-performance multi-asset trading platform.
  • Better integration with Saxo Bank for partners and affiliates through a growing set of resources, such as Saxo’s Onboarding API.

Saxo is planning a raft of updates to its OpenAPI. Saxo has scheduled the removal of certain methods for cash management in the client services service group – this should happen imminently now. The broker has also scheduled the introduction of support for HTTP/2 – on or after April 1st. Saxo expects this change to be non-breaking, but the bank still strongly encourages testing this already now.

Further, Saxo is planning the removal of a number of fields within the trading conditions in the Client Services group. The change is scheduled for June 1, 2022 (or after that date).

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