Latest version of Saxo Bank OpenAPI introduces new service group
Multi-asset trading and investment specialist Saxo Bank today released a new version of its OpenAPI, which introduces a new service group specifically to support Corporate Actions.
The Corporate Actions service group provides resources to help end clients view and act on corporate actions and proxy votes related to their current holdings.
Corporate Actions are events initiated by companies who are issuers of securities. These events give opportunities to the owners of these securities to receive benefits or take part in certain activities. Holdings are units of shares or other instruments of owners, which are usually the starting point of all the corporate actions. These events could be
- Cash Dividend (DVCA): Distribution of cash to shareholders, in proportion to their equity holding. Ordinary dividends are recurring and regular. Shareholder must take cash and may be offered a choice of currency.
- Dividend Option (DVOP): Distribution of a dividend to shareholders with a choice of benefit to receive. Shareholders may choose to receive shares or cash. To be distinguished from DRIP as the company creates new share capital in exchange for the dividend rather than investing the dividend in the market.
- Conversion (CONV): Conversion of securities (generally convertible bonds or preferred shares) into another form of securities (usually common shares) at a pre-stated price/ratio.
As for 2021, Saxo supports 73 types of events, The /ca/v2/events/eventtypes endpoint returns the full list of available event types.
The corporate action endpoints are grouped into several resources as follows:
The latest OpenAPI version also introduces ReplaceReferenceId on all streaming endpoints. It is now possible to provide a new field – ReplaceReferenceId – on all streaming endpoints. The purpose of this is to be able to both open and close a existing subscription in one request.
One typical use case is to be able to handle reconnection scenarios without potentially violating throttling limits. Another use case is to quickly switch the parameters for an active subscription, e.g. switching from subscribing to chart data on one instrument to subscribing to chart data on another instrument. This can now be done in one call, compared to previously, where it would require a “DELETE” of the first subscription and a “POST” of the second subscription.
Let’s note that Saxo’s OpenAPI has recently added support for Crypto FX. Saxo Bank has recently introduced support for crypto currencies by adding 9 new currency pairs to its offering. These are also tradable through the OpenAPI.
Saxo regularly enhances its OpenAPI, which is the backbone of trading platforms such as SaxoTraderGO. It offers:
- Access to all resources and functionality required to build a high-performance multi-asset trading platform.
- Better integration with Saxo Bank for partners and affiliates through a growing set of resources, such as Saxo’s Onboarding API.