Saxo Bank to improve transparency of value dates of trades
Online trading and investment specialist Saxo Bank aims to increase the transparency of the value dates of the trades.
The proceeds from share, bonds, mutual funds and structured products currently appear in the ‘Transactions not booked’ in the platform, only on the day of the trade. To improve the transparency around the value dates of the trades, the proceeds will continue to appear in ‘Transactions not booked’ until the value-date of the trade.
The sell trades will also continue to appear in the same way as they did intraday. Please note that this improvement will take effect in June.
This change will have no impact on the ability to trade but the cash check for withdrawals is improved to prevent premature withdrawals of unsettled proceeds. The check continues to be overridable if desired.
This change will also be reflected in the EOD Open and Closed positions files for the respective instruments, where the sell trades will appear in the OpenPositions file until the value-date at which point in time the long and short positions will net and be moved to the ClosedPositions file.
In addition, Saxo is launching a new Unsettled Amounts platform module in SaxoTraderPRO. The module will display all cash amounts which settle today or later, including settlement amount and settlement date. Data will be broken down to Amount Type and Instrument and optional grouping by Exchange will be supported. Unsettled amounts include Transactions Not Booked, Financing Accruals (client interest, CFD financing and others), and Corporate Action Accruals.
Saxo Bank has been regularly updating its solutions. An interactive P/L and exposure chart have recently been introduced in the positions list in the SaxoTraderGO and SaxoTraderPRO platforms showing the PL (unrealized P/L) and exposure for your open trade positions by product type and by instrument. The chart is accessed by selecting the Exposure and P/L button in the position list and shows your exposure by product type.