Saxo Bank is continuing with its plan to create a modern ecosystem for financial services consumers. The company has announced that it is launching a new developer portal that delivers technical documentation, references, samples and tools to its clients.
The Danish multi-asset brokerage committed to the development of its OpenAPI after it launched SaxoTraderGO in May 2015. The company has been actively pushing an ecosystem concept which would allow its white labels to differentiate themselves from each other.
Saxo Bank’s Open Banking initiative is founded by the firm on the assumption that the company’s clients will be able to create tailored solutions for their needs on their own.
Commenting on the news, the Head of Open API, Benny Boye Johansen, outlined: “Saxo Bank’s multi-asset trading infrastructure is unique in making it possible to tap into almost any part of the value chain using a combination of APIs and technologies. Partnerships and collaboration are key to Saxo Bank’s business model as a facilitator, so we wanted the new portal to be a natural resource for developers no matter what case they were trying to fulfil.”
Multiple APIs for Multiple Clients, Open for External Developers
Saxo Bank is providing access to a number of APIs that facilitate the needs of its Premium, Platinum, VIP, Introducing Broker and White Label clients. External developers have ideas of creating high end applications that can be integrated within SaxoTraderGO.
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The needs of different clients are addressed with different APIs – SaxoOpenAPI, FIX API, a Modern REST API and others are all available for different aspects of the development needs of the Danish broker’s customers.
Saxo Bank is providing examples of how a white label can devise a fund that is using the Client Management Services API to manage client funds in the cloud. In another example, customers may use SaxoOpenAPI to integrate trading directly into a web portal or to develop a completely unique front-end on top of SaxoTraderGO or even from scratch.
The documentation associated with Saxo Bank’s OpenAPI has been improved as more APIs have been added. The company is aiming to continue expanding its functionalities and provide new tools for developers.
“The model enables firms to connect their enterprises directly to Saxo’s infrastructure and provides access to direct connectivity options such as REST-based OpenAPI, Client Management System API, Introducing Broker client-onboarding API, FIX trading API, Event Notification System API, End-of-Day files drop service and STP Broker Backflow and Drop Copy for 3rd party execution and custodian integration,” Mr Johansen explained.
The portal provides clients with various resources with aggregated access to over 36 stock exchanges and 22 futures exchanges around the globe.