Saxo Bank has begun rolling out its new trading platform solution to the firm’s white label (WL) clients after a successful launch of its new SaxoTraderGO platform to the broker’s retail clients. According to information provided by the company, close to 40 per cent of its retail flow is conducted through the new platform offering.
The first batch of partners of Saxo Bank have started using the new solution this week. The Danish multi-asset brokerage is aiming to expand its reach to all of its 100+ white label customers by the end of this year.
If you change something on a chart from your computer, it is automatically carried over to mobile devices
According to the Danish brokerage powerhouse, the rapid adoption of the new platform is likely to be repeated with white label clients.
Commenting to Finance Magnates, the Head of Platforms of Saxo Bank, Christian Lund Hammer, said: “The clients like the fact that the platform is intuitive and it is quick to get started. If you change something from your computer, say set-up a chart is a specific way with studies just the way you like it, it is automatically carried over to the chart in the tablet and mobile as well.”
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Saxo Bank has launched its new REST based API (“the OpenAPI”) which the firm made available to external parties last month. The functionality of the OpenAPI is allowing white label clients to build custom functionality.
“Saxo Bank has made available a dedicated developer’s which is providing extensive documentation, sample code, authentication methods etc. It basically provides all the support an external developer needs to get started to code on top of the OpenAPI. It is the same developer site our internal developers use to code SaxoTraderGO functionality,” Mr Lund Hammer explained.
OpenAPI deployment progress
With the launch of the OpenAPI last month, white label clients of the Danish brokerage have already been granted the option to develop and deploy custom solutions to their offerings. The OpenAPI is designed to provide the possibility to deliver new functionality across the whole trade cycle – from pre-trade, execution and post-trade services for ETFs, cash stocks, CFDs, futures, Options and FX.
Mr Lund Hammer provided an example with some of Saxo’s clients- “We are currently working with some of our White Labels that want to embed some simple trading functionality (buy/sell buttons) into their corporate website or have a seamless integration with their existing banking applications and their White Label version of SaxoTraderGO.”
“Clients only have to log in once and see trading as an integrated offering in their existing banking application. All this is possible to do quite easily now and the combination of SaxoTraderGO and the OpenAPI is really our next generation White Label solution,” Mr Lund Hammer concluded.