Effective mid-June, multi-asset investment specialist Saxo Bank will implement a new definition for account value to improve transparency and consistency across all platforms.

The changes include removing the ‘Cost to close’ item from the value of positions for cash-products-only clients and introducing this cost in specific collateral categories for margin-enabled clients.

These updates aim to provide clearer and more accurate account information and aligning labels and patterns.

• For clients with cash equity positions (no margin positions)

The ‘Cost to close’ will no longer appear in the account details overview, resulting in a higher ‘Account value’. This aligns with the portfolio report, where the cost to close is not included.

‘Cash available’ for withdrawal or opening new positions remains unchanged, as it already accounts for the future cost to close.

The cost to close is still visible in each position overview or in the close-trade window.

• For clients with margin positions

‘Cost to close’ will be removed from the account details overview and will be incorporated into the ‘Not available as initial/maintenance collateral’. This will lead to a higher ‘Account value” number, but the ‘Cash available’ will still be the same.