After the legal merger, will legal issues be handled according Dutch or Danish law?
Yes, the services are still governed by Dutch (regulatory conduct) law. This principle is translated to the applicable contractual framework. In case of a dispute a Dutch court is the competent court. Dutch consumers still have the possibility to submit a complaint to KiFID as part of the complaint procedure
What happens with the current ‘bewaarbedrijf’ and Wge protection?
Het Bewaarbedrijf BinckBank B.V. will still be a contract party as some client assets are held by this vehicle to comply with the asset segregation rules.
The Danish equivalent of the Wge ((Wet Giraal Effectenverkeer) will apply post-merger date and the protection principles as such will not change.
In both situations the client's securities will be protected in case of a Saxo Bank A/S default situation.
What is the structure for future local IBANs?
There is no change. The current local structure NL64Bick continues after the merger.
Will the LEI code for BinckBank N.V. change to Saxo Bank's LEI code? The BinckBank NV LEI code (7245006VSPI8FWN4DW03) will change to Saxo’s LEI code (549300TL5406IC1XKD09) for the Dutch and Belgium branches. A new LEI code will be obtained for the French branch. The LEI codes will come into effect from merger date.
20.06.2024 - Correction to information on Saxo’s LEI codes after merger date.
For the Dutch branch, a new LEI code has been obtained to replace the BinckBank NV LEI code (7245006VSPI8FWN4DW03). The new Dutch branch LEI code will be: 7245008IMDLKTD1H4G15.
The Belgium branch will change to Saxo’s LEI code as previously communicated. The new Belgium branch LEI code is 549300TL5406IC1XKD09 (LEI CODE SAXO BANK A/S HQ)
For the French branch, a new LEI code has been obtained. The new French LEI code will be: 984500DE71B45074B789.
The LEI codes will come into effect from merger date.
At what point(s) will the terms and conditions change due to the proposed legal merger?
In total, 149 documents are changing. 88 documents only require changes to the footer. 61 documents require changes primarily around references to tradename and deposit guarantee scheme.
Updated terms and conditions must be communicated to IAM end clients by Saxo and the IAM before 30 May to comply with 30 days' notice and the expected merger coming into effect on 1 July 2023. This documentation will be shared at the beginning of May with IAMs.
The rest of the documentation will be shared with IAMs during June.
For onboarding of new clients, Saxo will continue accepting former documentation for a period T+30 days after the merger date provided you have shared the new terms and conditions (including DGS-information).
Terms and conditions documentation to be updated
IAMs only
- Master Agreement
- Master Agreement – Terms & Conditions
IAM end-clients
- Client Agreement - Tripartite Services BinckBank NV
- Terms and Conditions - Tripartite Services BinckBank NV
- Important information Tripartite Services
- Deposit Guarantee Scheme Information Sheet
Financial Clients only
- Institutional Trading Agreement - Proprietary Trading
- Fund Self-Declaration Form
- Self-Declaration Form for Financial Clients
All documents changing with merger (footer changes only)
- Opening forms BinckBank NV - Corporate account
- Opening forms BinckBank NV - Joint account
- Opening forms BinckBank NV - Minor account
- Opening forms BinckBank NV - Single Private
- Opening forms BinckBank BE - Joint account
- Opening forms BinckBank BE - Minor Clients
- Opening forms BinckBank BE - Single account
- Treaty Statement Canada - BinckBank NV & BinckBanck BE
- W-8BEN-E for corporate clients - BinckBank NV & BinckBanck BE
- W-8BEN-E FAQ - BinckBank NV & BinckBanck BE
- Change of contact details - BinckBank NV & BinckBanck BE
- BinckBank NV - Transfer of securities portfolio (from Dutch bank)
- BinckBank NV - Transfer of securities portfolio (from Foreign bank)
- BinckBank NV - Source of Wealth Declaration
- BinckBank NV - Change and Addition director or authorized representative
- BinckBank NV - Internal portfolio transfer
- BinckBank NV - Opening Additional Account - Corporate
- BinckBank NV - Opening Additional Account - Private
- BinckBank NV - Power of Attorney statement
- BinckBank NV - Waiver of securities
- BinckBank NV - Trustee Statement
- BinckBank NV - Conversion Form - minor - adult account
- BinckBank NV - Power of Attorney - Administrator
- BinckBank NV - EMIR Reporting, SFTR Reporting and UMR
- BinckBank NV - Declaration signature change
- BinckBank BE - Conversion form - minor adult account
- BinckBank BE - Transfer of securities portfolio (from Belgian bank)
- BinckBank BE - Transfer of securities portfolio (from Foreign bank)
- BinckBank BE - Internal portfolio transfer
- BinckBank BE - Declaration of non-Belgian residents
- BinckBank BE - Opening Additional Account - Corporate
- BinckBank BE - Opening Additional Account - Private
- BinckBank BE - Questionnaire Politically Exposed Persons
- BinckBank BE - Power of Attorney
- BinckBank BE - Waiver of securities
- BinckBank BE - Change of the Ultimate Beneficial Owner(s) of a Company
- Beleid orderuitvoering
- Orderuitvoeringsbeleid
- Politique d'exécution
- Conflict of Interest Policy
- FAQ - EMIR, SFTR en EMR
- Important Information Margin Lending Tripartite Services
- Openingsdocument – Bewaargeving en Afwikkeling – Enkelvoudige rekening
- Openingsdocument – Bewaargeving en Afwikkeling – Gezamenlijke rekening
- Openingsdocument – Bewaargeving en Afwikkeling – Minderjarigen rekening
- Openingsdocument – Bewaargeving en Afwikkeling – Zakelijke rekening
- Belangrijke Informatie Effectenkrediet Bewaargeving en Afwikkeling
- ISDA 2002 Master Agreement
- ISDA 2022 Master Agreement (Belgium)
- AIFMD exemption statement
- Important Information Options, Futures and Margin
- Deposit Guarantee Scheme Information Sheet
All documents with changes to references to Dutch Deposit Guarantee scheme, trade name, legal entity and regulatory authorities
- Client Agreement - Tripartite Services BinckBank NV
- Terms and Conditions - Tripartite Services BinckBank NV
- Important information Tripartite Services
- Master agreement
- Master agreement - General conditions
- Opening forms BinckBank BE - Legal entities
- Opening forms BinckBank BE - Maatschappen
- BinckBank NV - Information on monetary transactions
- BinckBank NV - Commercial Real Estate Form A - Corporate
- BinckBank NV - Commercial Real Estate Form B - Corporaate
- BinckBank NV - Commercial Real Estate Form A - Private
- BinckBank NV - Commercial Real Estate Form B - Private
- BinckBank NV - Declaration Investment Study Club
- BinckBank NV - Declaration Family Fund
- BinckBank NV - Client Agreement Annuity Account Tripartite Services
- BinckBank NV - Processing agreement
- BinckBank NV - Periodic Funds Transfer
- BinckBank BE - Source of Wealth Declaration
- BinckBank BE - Information on monetary transactions
- Investment Firm Manual
- Client Agreement Margin Lending Tripartite Services
- Terms & Conditions Margin Lending Tripartite Services
- European Standard Information Margin Lending Tripartite Services
- Klantovereenkomst Bewaargeving en Afwikkeling
- Voorwaarden Bewaargeving en Afwikkeling
- Belangrijke Informatie Bewaargeving en Afwikkeling
- Overeenkomst Effectenkrediet Bewaargeving en Afwikkeling
- Voorwaarden Effectenkrediet Bewaargeving en Afwikkeling
- Europese Standaardinformatie Effectenkrediet Bewaargeving en Afwikkeling
- Institutional Trading Agreement - Proprietary Trading
- Institutional Trading Agreement - Proprietary Trading
- Fund Self-Declaration Form
- Fund Self-Declaration Form (Belgium)
- Self-Declaration Form for Financial Clients
- Self-Declaration Form for Financial Clients (Belgium)
- ISDA Schedule
- ISDA Schedule (Belgium)
- ISDA Bilateral Agreement
- ISDA Bilateral Agreement (Belgium)
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