Dear partner
We are now less than two weeks away from your migration to Saxo Bank and SaxoConnect on 29 August.
Read the previous migration communication from 9 August here.
Below a recap of the key dates and actions already communicated as well as few specific instructions.
- Pausing the addition of new instruments in DBA. As of today, 16 August, we will not add new instruments to your book of business on the Binck system side. This ensures that all your account information, orders and positions will be ready and waiting for you on 29 August in SaxoConnect.
- Non-transferable instruments should be sold. While you can trade 60,000+ instruments on Saxo Bank’s systems, there are a few instruments that will not be catered for. If you are impacted, you will be informed by your relationship manager and advised to sell the instruments
- Mapping file for pending instruments. You will receive your list from your relationship manager
- For new customers, please start using Saxo’s paper CAFs now. As previously communicated, you should start using Saxo’s paper CAFs for private, corporate, joint and minor accounts from today, 16 August 2022. Please start the onboarding of those new customers from case management in SaxoConnect.
- Open single and block orders will be automatically cancelled. As previously communicated, open single and block orders will automatically be cancelled on the weekend of the transition to Saxo’s platforms. We will provide you with an overview of all cancelled orders, so that you can reset all open orders yourself on SaxoConnect once the transition has been completed. You can also find your open orders on DBA if you want to manage the process on yourself.
- Cancellation and transfer of period withdrawals. As part of the migration, we will cancel period withdrawals in Binck’s systems and transfer to SaxoConnect during the migration weekend.
- Mapping file for pending end-customer IDs. You have already received your end-customer mapping file with legacy Binck IDs and new Saxo IDs. Your relationship manager will provide you with a mapping file of any pending end-customers as part of the client and account migration weekend and data reconciliation.
- Pausing securities transfers. As previously communicated, we do not accept securities transfers two weeks prior to the migration date. After the migration we are happy to accept any requests again.
- Your end-customers will receive an email from Saxo Bank during w/c 22 August to reset their password and access SaxoPortfolio. As previously communicated, we will send your end-customers an email with their new user ID and a link to the password reset flow.
- No access to SaxoConnect in the migration weekend. As previously communicated, you will not be able to access SaxoConnect and DBA from Friday 26 August at 17:00 until Monday 29 August at 06:00 CET due to migration activities. Please make sure you check your access to SaxoConnect in advance so that you are ready to trade from Monday 29 August.
- Fee bookings for August: As you are aware, pricing components have evolved as part of the migration. Last service and ‘all- in-fees' until 31 July are charged and booked on the Binck side. We will inform you of the booking and charging of your August fees incurred on Binck's side.
Should you have any questions, please contact your relationship manager.
Best regards
Saxo Bank
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