Saxo adds new EMIR data attributes to SaxoTools and Saxo CMS API
Multi-asset investment specialist Saxo Bank has informed its white label partners that it has made enhancements for partners that have delegated their EMIR end-client reporting to Saxo.
All counterparts trading derivatives are subject to the European Market Infrastructure Regulation (EMIR) for reporting derivative (OTC and ETD) trades to a Trade Repository (TR) if at least one of the counterparts in the trade is registered or authorised in the EU and/or UK.
When you have delegated your end-clients EMIR reporting to Saxo, to fulfil the regulatory obligation, Saxo needs updated information on your end-clients at all times. To ensure Saxo’s CRM system has the correct data for reporting, the company has added some new EMIR data attributes to SaxoTools and Saxo CMS API.
The new fields that have been added are:
- EMIR Corporate Sector
- Clearing threshold
- EMIR Hedging
- UMR (Uncleared Margin rules)
To help with your firm’s regulatory compliance, for all new clients or whenever there is an update for an existing client, please ensure that you provide your end-clients’ regulatory details using these fields in addition to all other existing regulatory information.
The new fields are located on the Counterpart level -> Encrypted Client Information.
The new fields will also be available via CMS API. The manuals for both SaxoTools and CMS API will be updated to reflect this change.
If you have delegated your end-client reporting to Saxo, your account manager will also reach out to you directly, informing you about this.
Saxo has also recently announced enhancements to platform reports.
Saxo will make available a new Transaction report on all platforms. This report is already available for Saxo’s direct clients and will now be rolled out to White Label Partners as well.
In addition, Saxo Bank will roll out a new version of the Portfolio report to WL end-clients at the end of April. This new version includes clearer explanation around the numbers and should hopefully be more intuitive to read.