Saxo Bank to change corporate actions election validation in OpenAPI
Multi-asset investment specialist Saxo Bank plans more changes for its OpenAPI. Effective October 2022, the company will change the validation of corporate actions election.
It will not longer be possible to make a corporate action election with the sum of elected amounts being zero (0).
At present, 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. Currently, this will be accepted:
This will not be possible after the changes planned for October.
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.
This month, all resources related to CashManagement – Cash Withdrawal in the Client Service service group were removed. Saxo has removed external access to all endpoints under the /cs/v2/cashmanagement/withdrawals/ route.
If you are using any of these endpoints, you should be switching to the equivalent endpoints in the AssetTransfers service group:
- atr/v1/cashmanagement/beneficiaryinstructions – to get a list of a clients registered beneficiary instructions
- atr/v1/cashmanagement/withdrawallimits – to retrieve the maximal amount which can be withdrawn
- atr/v1/cashmanagement/withdrawals – to submit a cash withdrawal request.
In April, Saxo introduced HTTP/2 and Akamai acceleration for its OpenAPI.
This changes was made to optimize performance. Saxo expects this to be non-breaking for almost all of its client applications.
Akamai is a network acceleration provider, which ensures faster and more reliable connectivity from network endpoints to Saxo Banks data centers. Saxo is already using Akamai network acceleration for all connections outside of Europe. After the change Saxo will also accelerate connection for all clients residing within Europe.
HTTP/2 is the successor of HTTP/1.1. With HTTP/2, multiple bidirectional streams are multiplexed over a single TCP connection. Each stream can carry a request/response pair, and multiple requests to a server can be made by using multiple streams.
This functionality essentially provides standard support for “batching” of requests, and it means that going forward you will get the benefit of parallel execution of requests without using Saxo’s current proprietary batching mechanism.
Saxo regularly updates its OpenAPI. 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.