Out trades

As soon as Saxo Bank or a partner determines that an out trade has occurred, immediate action is taken to close the position, even if it is not yet clear whether the partner or Saxo Bank is to blame. Saxo Bank records all employee telephone conversations.  

Saxo Bank has an internal out trade procedure to inform the manager of Global Sales Trading or the director of Saxo Institutional about every out trade. In the event that there is a discrepancy after closing the position, obtained as a result of the out trade and it is not clear whether the partner or Saxo Bank is responsible, the partner will be contacted by the manager of Global Sales Trading, the relationship manager or the director of Saxo Institutional. The out trade is discussed, and together it is determined who will take legal and financial responsibility or to what degree responsibility will be shared. Discrepancies for the partner must be settled on the partner's own account. 

Saxo Bank can no longer be held liable by the partner for incorrectly executed orders if more than 5 working days have passed since the transaction was booked. Partners must also claim orders that were incorrectly not executed within one week after the moment of (theoretical) execution.