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Get to know the SaxoConnect platform

Mason Friis-Burden

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Introduction to SaxoConnect

SaxoConnect improves upon DBA in numerous ways. You have access to powerful features and will be able to enjoy increased control over your trading – with less of a need to contact the trading desk for order handling. Key features:

  • General dashboard
  • Case management, cash and risk management modules 
  • New advanced client screener module
  • Support for bulk reporting
  • New corporate actions modules (watch our video tutorial here)
  • New single client view and full trading support including block orders 
  • User roles supported 
  • Report generation on demand
  • Care order support directly from the platform 
  • Client onboarding module (available in April)
  • Client renewal module (available in April)

SaxoConnect is available in different languages (Dutch, French and English). Also, reports can be displayed in the local language.

Check out our video tutorials, where you learn more about the different features. In the video below, you will get a short introduction to some of the highlights of SaxoConnect.

NB; if you want to simultaneously make private use of SaxoInvestor in addition to SaxoConnect, this is only possible if you use a different browser.

 

Design uplift of SaxoConnect

 

How do I or my employees access SaxoConnect?

In the weeks before the migration, you and your employees will receive login credentials to SaxoConnect. Each employee will need to reset their password following Saxo Bank’s standard password reset flow. Every employee will need to use the email address and mobile phone number that is already registered with BinckBank for authentication. After that, you can start using SaxoConnect via the login page.

 

Did you forget your UserID and/or password?

You can easily request a new password and your UserID via the login page of SaxoConnect.

Please note: these flows are opening in a new screen. After completing the flow, you will have to go back to the previous screen with the login page for SaxoConnect (without clicking on the login button).

UserID

If you choose ‘Forgot your UserID’, you will be asked to fill your date of birth and phone number. After that, the UserID will be send by SMS. If you have multiple UserID’s, you will receive all UserID’s that are available within Saxo Bank. You will also receive an confirmation by e-mail.

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Password

If you choose ‘Forgot your password’, you fill in your email address and UserID:

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If you forgot your email address, then click on ‘I forgot my email’. After entering your date of birth and phone number, you will receive your email address by SMS, with a confirmation by email.

After the requested information has been entered, you will receive a verification code by SMS:

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After entering the verification code, you can set a new password and finish the reset password flow. Also, we will send out a confirmation by SMS and email.

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Make sure to go back to the login page of SaxoConnect to enter your UserID and password.

 

How to authorize employees on SaxoConnect

The Authorization Roles framework within SaxoConnect gives you the flexibility to select the business functions that can be performed by your employees in the platform.

When authorization roles are assigned to a user, your employee, it allows the user to view certain data or modules, or to perform specific tasks in the platform.

A user can be assigned multiple roles and roles can be applied to both back-office employees (with no access to trading) and front-office employees (with trading access). For example, when the role “UserRole. + Manage Corporate Actions on Hierarchy” is applied to a user, it allows access to elect on corporate action events for end-customers. Learn more about this topic in the video below.

 

How do I login to SaxoConnect with 2 factor authentication (2FA)?

In this short video, we will demonstrate how to log in to your SaxoConnect account with Two Factor Authentication (2FA or TFA).

The purpose is to verify your identity in two unique ways before you are granted access to the system.

 

How do I use the client renewal module?

Our ongoing due diligence process (ODD) for your end-customers will be initiated in our client renewal module. Want to learn more about the module? Take a look at our step-by-step guide.

If you have any questions related to the module, please reach out to your primary contact. For general ODD questions, do not hesitate to contact the IAM Remediation Client Service using the following phone number: +31 20 22 56 584.

 

How do I place an order for a single client?

In this video, we will demonstrate how you can place an order for a specific client and:

  • Fill in the trade ticket and place the order
  • See the status of the order
  • Modify or cancel the order 

 

How do I use the screener?

You have the option of creating your own Screeners within the Trading section.

In this video, we will demonstrate how you can create your personal Screeners using the different filter lists.

 

How can I view the details of my client’s cash position?

You can select a client in SaxoConnect and find the details of your client’s cash position via Positions > Cash. Below is an explanation of the different components:

  • Cash (EUR): this section indicates the currency in which the amounts are shown
  • Cash balance: the amount your client has in cash on their account(s)
  • Transactions not booked: cash amounts to be processed, for example after a transaction including accruals
  • Corporate action accruals: expected income following corporate actions (such as dividend and coupon payments)
  • Cash: this is the sum of the cash balance, transactions not booked and corporate action accruals;
  • Cash available: the maximum amount your client can spend

How do I use the client screener?

In this video, we will demonstrate how to use the client screener and

  • Group your clients into your own screeners (or filtered groups)
  • Save your screeners
  • Manage/edit your filters 
  • View the orders within a specific screener
  • View the positions within a specific screener

 

How do I subscribe to exchanges?

In this video, we will demonstrate how you can subscribe to a price feed of certain exchanges and:

  • What the different subscription levels mean
  • How to fill in the subscription form and what to be aware of

 

How do I manage my customer's cases? 

In this video, we will talk about the case management module and demonstrate how to:

  • View your active cases
  • Use the filters
  • Add additional information to a case
  • Create a new case
  • Close a case

 

How do I view a client's portfolio?

In this video, we will demonstrate:

  • How to access a client's portfolio and what the different features allow you to see and do
  • The 'Postitions' view and:
    • The different features available and their meaning
    • How to view on a product level
    • How to manage and adjust the columns 
  • The 'Performance' view and the different features available
  • The 'Transactions' view and the different filters available

 

How do I create an allocation group?

In this video, we will demonstrate how to:

  • Import (via excel template) or create a new allocation group
  • Create a block order for the group

 

How do I place a block order?

In this video, we will demonstrate:

  • The meaning and usage of the different filters in the block order
  • How to view your current orders and modify them
  • Where to view your historical orders and trades

 

Excel template for creation of an allocation group

The block order module In SaxoConnect also supports creation of allocation groups by using your own template with clients and quantities.

This excel template enables you to easily create allocation groups in the platform by importing lists of client IDs and an amount or units per client. To create an allocation group via import it is sufficient to complete the first two columns (ClientID and Amount), but you must remember to set the column “Remainder” to "Y" for at least one client.

If you prefer, you can also specify the instrument for the block order in the excel file. If you want, you can also complete the optional columns. Please note that you only need to complete the first row for the optional columns. See below table for further details.

Column Name

Description

Mandatory/Optional

Dropdown list with allowed values

Example Values

ClientId*

ID of the clients to be included in the excel file

Mandatory

 

Client1

Quantity*

Can be in Unit or Amount (You don't need to worry about specifying the currency)

Mandatory

 

23

Remainder

At least one client must be marked as 'Y'; you can also set multiple clients to accept remainder. All other clients can be left blank. "Accept remainder" is only relevant in case of a partial execution: clients set to "accept remainder" will receive additional allocation when the partially executed amount cannot be allocated exactly in accordance with the relative proportion between the full allocations of the clients in the allocation group

Mandatory

Yes

If Yes then Y

BuySell

Used to define the direction of the order. This is to be filled out only for first row in the allocation group

Optional

Yes

If Buy then B

If Sell then S

Symbol

Instrument identifier. You can look for it on product page in the platform. This is to be filled only for first row in the allocation group

Optional

 

If Apple Stock then AAPL:xnas

AssetType

Asset type identifier. Simply select the AssetType from the dropdown. This field becomes mandatory when the Symbol column has been filled. If you want to use this it's enough to fill it out only in the first row in the allocation group

Optional

Yes

 

DeactivateAfterOrderPlacement

To be used when creating a new one time allocation group. This is to be filled only in the first row in the allocation group. When you create a one-time allocation group it will not be saved on your list of allocation groups in the platform after use.

Optional

 

If Yes then Y

The supported file types are xlsx, xls and csv. Here you can find an example of our excel template:       

Link to template EXCEL

You can also check out our online video ‘How do I create an allocation group?

Possible integration with external systems:

For partners who use an external (PMS) system that generates Excel files for creating block orders, it is necessary to integrate the new excel template.

 

How do I generate a report for an end-customer?

In this video, we will demonstrate the following:

  • The customer's portfolio
  • Viewing and exporting historical and portfolio reports
  • Activities on the customer's account

 

Explanation column ‘P/L (EUR)’

In the portfolio overview in SaxoConnect and SaxoPortfolio, you will see a column ‘P/L (EUR)’, which can be translated as ‘result after costs’. The costs referred to here are the transaction costs for buying and selling the security. In the example below, the result is EUR -15, after costs have been deducted.

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When you click on Picture14.png , you will see the specifications of the costs. You will not see any costs under 'Open' for positions that have been migrated from BinckBank. For positions that you are going to open in the future, the costs are shown in both 'Open' and 'Close'.

In this example, the total result before costs is EUR 5.36. The result after deduction of costs is then calculated as follows:

Total P/L (inc. costs) = Trade P/L - (open costs + close costs) = 5.36 - (10.38 + 10) = EUR -15.02.

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Single client trading journeys

In this video, we will demonstrate the following:

  • How and where you can place a new order or trade
  • Information on trading conditions
  • How to modify your orders

 

How do I deposit, withdraw and transfer money?

If you want to transfer money to your Saxo account, you instruct your bank to transfer the amount to your IBAN account number with Saxo. Learn more about monetary transactions here. In the below video, we will demonstrate how you can:

  • Withdraw funds to your bank account
  • Fund your trading account from your bank account
  • Transfer funds between sub-accounts

 

How do I change the conditions of a trade order?

In this video, we will demonstrate how to:

  • Create and place a new trade order
  • Change the conditions of the trade order 
  • 'Add profit' and/or 'stop loss' to a trade order
  • Place an Algo order

 

How can I use the markets section?

In this video, we will demonstrate:

  • How to edit and create your own 'My Markets'
  • What the different features on the market site mean and how they function
  • How to access and understand the features within the different instrument sections
  • How to explore, filter, create and save your own screener on the different instruments (also see video on screener)
  • How to add a specific index to a watchlist
  • How to use and edit the the different features available within the advanced chart

 

How do I use the watchlist?

In this video we will demonstrate how to:

  • View and create your own watchlists
  • Add instruments to a specific watchlist
  • Edit the column data within a watchlist
  • Add/remove specific instruments to/from a watchlist
  • Rename/delete a watchlist

 

How does the multi currency solution work?

In this video we will demonstrate how to:

  • Dig deeper into the different accounts (positions, orders, performance and transactions)
  • Use the all account view
  • Create a report for the different accounts
  • Create a single trade ticket and a block trading ticket

We will also take a closer look at what the end-customer sees on within their Portfolio.

 

How to navigate the product page?

In this video, we explain more about the product page and:

  • How IAM’s can navigate the product page
  • Where IAM’s can find more specifics about the stocks

 

What are care orders and how to use them?

Care orders are manually handled orders by the trading desk. Once sent to the trading desk for execution, they can’t be amended or cancelled from the platform. For any changes to these orders, you need to contact the trading desk.

In this video, we explain more about care orders and how these orders work:

 

How to place a single option order?

In this video, we explain:

  • How to place a single option order
  • How to navigate an option screen for a specific instrument

 

How to place a block order for options?

In this video, we explain:

  • How to place block orders for options

 

How to use the Allocation Group template

In this video, we explain:

      • How to use the Allocation Group template

 

How does margin lending work?

With margin lending, your end-customers receive credit based on the securities in their portfolio. We then grant collateral value over (a part of) the securities in the portfolio. This collateral value allows you to maintain a negative cash balance. It is not permitted to use margin lending to maintain a negative spending power limit. Moreover, it is not permitted to use margin lending for any purpose other than financing securities. Learn more about margin lending is this video:

Margin lending is only applicable for Dutch end-customers. In this article, you can find all applicable conditions and information documents.

 

Client management services – get flexibility and efficiency with multiple account structures

You can create your own hierarchy of accounts with parent and multiple child accounts. As a partner, your omnibus account is your principal account with Saxo aggregating multiple sub accounts. Use the structure to facilitate funding, interests, commissions and trading, and risk management across multiple underlying customer accounts. Details and examples about the logic and hierarchy of different owner levels (houses) can be found here. 

Client management and onboarding services are provided via automated case handling or via our Client management OpenAPI for automated upload of complete prospective client details. The service includes support for multiple account structures to facilitate self-directed, advisory and discretionary client set ups.

Capture__002_.PNG

 

Front load and placement fees 

It is not possible to run frontload and/or placement fees through Saxo Bank. 

 

How do I update my end-customers’ contact information?

The process to update contact information is as follows:

  1. As an independent asset manager, you will send a ‘change of contact details form’ (Dutch and French) to your end-customer.
  2. Your customer fills in the form, signs and returns to you with a signed POI document (Passport or ID card) attached.
  3. You check the documents to confirm the data and forward the form and POI document to Saxo using Case Management.
  4. Saxo’s Client Service team makes the change in CRM and the customer will be able to authenticate and get access to SaxoPortfolio.

The changes will be processed within 2-3 working days.

 

How do I change the address of my end-customer?

If you want to change the address of an end-customer, you can do this as follows:

For private accounts:

  • Create a case via Case Management with the subject 'private onboarding'.
  • Attach one of the following documents:
    • A utility statement issued within 6 months. This must state the name, date of issue and address. Please note that mobile phone bills are not accepted.
    • A government-issued document with the address.

For business accounts:

  • Create a case via Case Management with the subject 'existing corporate contract'.
  • Attach a copy of the company extract from the register.

The changes will be processed within 2-3 working days.

 

Placing (block) orders with algorithms - how does it work and what kind of algo’s are available?

If you are using care orders today, you should place algorithmic orders as much as possible after the migration.
Most used algorithms:

VWAP

VWAP works an order over a user-specific time interval, attempting to match or beat the Volume-Weighted Average Price (VWAP) for that time interval. The order is executed proportionally with the expected market based on historical volume distribution. Since the VWAP is executed according to the expected market volume the strategy should not be used on days where the actual market volume is deviating significantly from the normal historic market volume.

Key considerations: Volume moving sharply away from historical distribution, e.g. unexpected company news or index rebalance will likely result in higher deviation from VWAP benchmark.

TWAP

TWAP will trade linearly over the specified time period in set slices. The strategy aims to trade evenly throughout the period regardless of volume while reducing market impact and attempting to maximize anonymity.

Key considerations: During unpredictable spikes in volume, liquidity might be missed and during low volume periods the order could be significant part of the traded volume.

With Volume

With Volume trades in proportion with actual market activity targeting the participation at a user specified percentage of overall traded volume. The strategy is suited when the trader wants to directly control their participation rate and/or be more involved when the stock is trading heavily. As the strategy trades in proportion with actual market volume it is more suited for stocks whose trading volume varies substantially from a day-to-day basis.

Key considerations: With Volume does not guarantee completion if there is low liquidity and may fill quickly if there is high liquidity. Participation in a volume spike could lead to large volume execution around an event which offers un-favourable price.

Iceberg

Iceberg orders are sent only to the primary exchange where only the specified quantity of the total is shown at any given time. Once that specified qty is filled, the strategy will reload with another slice of specified amount until done.

Key considerations: Please be aware of exchange specific rules for minimum display size. Also note that only the specified quantity will maintain the order priority, each new iceberg slice will enter at the rear of the order book. 

Note for all algorithims: Adding parameter options on any algo strategy such as ‘Max Participation Rates’ or ‘Limit Price’ will constrain the orders executions capabilities and may result in incomplete fill.

Available on major US, European and Asian markets, algo orders are fully integrated into the trade ticket. Once they’re active, you can modify orders without having to cancel and replace them.

Visit the algoritmic order guide for details on supported markets, VWAP, TWAP, With Volume, Implementation Shortfall , Liquidity seeking , Pre-market, Target , Market On, Limit On Close, Peg, Iceberg, Reload and Dark algo’s.

 

Monitoring onboarding

 

Onboarding through paper CAF

 

How do I trade off-line traded instruments?

You need to contact the GST (Global Sales Trading) team:

Single orders:

Please let us know:

  • Client ID that the trade should be done on
  • Account ID (If the client has multiple accounts, be sure to pick the right CCY)
  • ISIN
  • Buy/sell
  • Amount/number of units
  • Order duration

Block orders:

First of all - please review this video for a general overview of the allocation group functionality in SaxoConnect.

To execute a block order in an offline traded instrument – for example a bond – the following procedure applies:

  • You create the allocation group in SaxoConnect using this naming convention: “Date + Buy/sell + ISIN” (see examples below).
    • When creating the allocation group please remember:
      • When you create the allocation group in SaxoConnect you cannot select the instrument. You must specify the instrument in the email; see below.
      • Min. one client must accept remainder
      • Please note, allocation groups for offline orders can only be set to “Reduce”, not “Cancel”. “Reduce” means that if one or more clients cannot hold their allocation they will be removed from the block order.

In SaxoConnect your allocation keys – saved in-line with the naming convention – will look like this:

Allocation_groups.jpg

  • Send an email to GST (globalsalestrading@saxomarkets.com) with a reference to the allocation group (see template text for the email below). Expect a confirmation email - if you receive no such confirmation do not expect that the instruction has been accepted.
  • You will see the trade confirmations in SaxoConnect, execution on the selected block account and the allocations in the end-client accounts

Template text for email (you can copy & paste this into an email and update):

Hi Team,

Please place the following order as detailed below;

Instrument:        United States of America TBILL 0% 20 Apr 2023, US912796V482

SIDE:                      Buy

PRICE:                   97.00

House ID:             47157849

Allocation Key:  19.10 Buy US912796V482

Volume:               5,000,000

Trade ID:              76000/TRADINGCI

 

How do I generate bulk reporting? 

In this video, we will demonstrate:

  • How to generate a 'all clients report' within the following sections:
    • Portfolio report
    • Statement of assets 
    • Transaction reports
    • Account statement
  • How to generate a report using the filter option
  • How to select specific end-clients for a report
  • Who can generate bulk reporting and how to change the authorization role

 

 

How to enable margin lending

In this video, we will demonstrate: 

  • How a single end-client can enable margin lending themselves via SaxoPortfolio (only available for clients under the NL entity) but for other account types, the partner must enable margin lending through case management
  • How you can keep track of which end-clients have margin lending enabled

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