Saxo Bank plans changes to OpenAPI functionalities
Multi-asset investment specialist Saxo Bank plans changes to functionalities in PUT ca/v2/elections in its OpenAPI. The changes are set to be implemented in October 2022.
It will no longer be possible to make a corporate action election with the sum of elected amounts being zero (0). Today it is possible make an election in which the sum of elected amounts is 0.
As an example, assume that the total eligible amount for a given even is 100.
Today this will be accepted:
This will not be possible after this change.
Also, assume the client has already made an election for the amount of 50 for option 1 but 0 for option 2. Today the client can actually make a subsequent election of 0 for option 1 to indicate that he is still undecided. After the change this will no longer be possible as this would again bring the total elected amount back to 0.
Saxo Bank’s OpenAPI 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.
Saxo regularly updates its solutions. The company is planning further changes to its OpenAPI, to be implemented on or after November 1st.
While changing and withdrawing previous elections are allowed for most of the voluntary events, some events have special terms that once submitting the elections, investors are not be allowed to change or withdraw these elections. Today it is possible to submit changes or withdrawal via OpenAPI and such elections are handled in later stages.
After this change,
- the PUT ca/v2/elections endpoint will reject an election base on the AllowedAction settings of the options. Error codes ChangeInElectionNotAllowed and WithdrawalOfElectionNotAllowed will be responded together with their messages respectively;
- the GET /ca/v2/events will respond the additional AllowedAction in each options to indicate which actions are allowed on this option. For most of the voluntary events, the AllowedActions will be [“Change”, “Withdrawal”];
- these election rules will also take place in the PUT ca/v2/elections/bulk endpoint.