The company has delivered on its commitment to provide open access to its infrastructure before the end of the year
Saxo Bank has just announced that it is opening access to its trading environment for third parties. With the launch of the company’s new REST (Representational State Transfer) Open API (Application Programming Interface) developers will gain access to the company’s trading infrastructure, including the newly launched SaxoTraderGO platform.
The new architectural style under which the Open API has been developed is specifically used in Web services, such as the SaxoTraderGO platform. Using REST can be much more convenient for web services as it requires much less bandwidth when compared to SOAP (Simple Object Access Protocol).
In addition the SOAP architectural style requires the use of two subsystems - a provided server program which delivers the data and a client program which receives it.
REST is already widespread, but the financial industry has been late to the party
Saxo Bank’s Head of Platforms, Christian Hammer, explained, “REST is already widespread among tech giants who have built entire business models around Open API. The financial industry however has been late to the party. Some banks already offer access to third party developers to build specific features or apps but we are offering much deeper functionality and access to our entire trading infrastructure. We are essentially decoupling our infrastructure from the user experience to become a trading facilitator.”
The Open API uses SignalR and WebSockets for lower latency and increased performance, while for authentication and security control the solution relies on a combination of industry proven SAML and OAuth 2.0 protocols.
A realm of new possibilities for White Labels, developers and traders alike
Another very big segment of traders who are set to benefit are institutional players. Coinciding with the Open API launch, Saxo Bank has also revealed that it is launching a new subsidiary called Saxo Markets, which will focus on the firm’s institutional business worldwide.
Third party developers in the mean time may unlock new streams of revenue
Third party developers in the meantime may unlock new streams of revenue for both themselves and Saxo Bank by designing specific applications tailored to the needs of different traders. According to the Danish multi-asset brokerage, the adoption of SaxoTraderGO by its clients has been steady and due to this the firm decided to scrap its MetaTrader4 offering after the launch.
All developers who are willing to program on the new open API that Saxo Bank is launching will have a dedicated Developers Portal, which includes information on documentation, libraries, sample code and technical support.
about 30 per cent of Saxo Bank's clients have migrated to SaxoTraderGO
According to the latest information provided by Saxo Bank after the new platform’s launch, about 30 per cent of its clients have migrated to the new solution. The firm has also set a date on the rollout of the new platform to white label customers. About 120 institutions who are already clients of the Danish brokerage will be able to access SaxoTraderGO in October.
Commenting on the launch, the Head of Business Lines at Saxo Bank, Matteo Cassina, said: “For a long time the industry has grappled with the dilemma of building versus buying, but the pace of technological change has made it impossible for institutions to maintain an edge when it comes to innovation. The result is a paradigm shift from a business-to-customer economy to a so-called collaborative economy.
The accelerated adoption of technology and the increase in mobile business-to-customer interaction presents a huge growth opportunity for our partners, offering the potential to multiply trading volumes, create new revenue streams and protect their businesses against rapid digital change," he concluded.
Saxo Bank has just announced that it is opening access to its trading environment for third parties. With the launch of the company’s new REST (Representational State Transfer) Open API (Application Programming Interface) developers will gain access to the company’s trading infrastructure, including the newly launched SaxoTraderGO platform.
The new architectural style under which the Open API has been developed is specifically used in Web services, such as the SaxoTraderGO platform. Using REST can be much more convenient for web services as it requires much less bandwidth when compared to SOAP (Simple Object Access Protocol).
In addition the SOAP architectural style requires the use of two subsystems - a provided server program which delivers the data and a client program which receives it.
REST is already widespread, but the financial industry has been late to the party
Saxo Bank’s Head of Platforms, Christian Hammer, explained, “REST is already widespread among tech giants who have built entire business models around Open API. The financial industry however has been late to the party. Some banks already offer access to third party developers to build specific features or apps but we are offering much deeper functionality and access to our entire trading infrastructure. We are essentially decoupling our infrastructure from the user experience to become a trading facilitator.”
The Open API uses SignalR and WebSockets for lower latency and increased performance, while for authentication and security control the solution relies on a combination of industry proven SAML and OAuth 2.0 protocols.
A realm of new possibilities for White Labels, developers and traders alike
Another very big segment of traders who are set to benefit are institutional players. Coinciding with the Open API launch, Saxo Bank has also revealed that it is launching a new subsidiary called Saxo Markets, which will focus on the firm’s institutional business worldwide.
Third party developers in the mean time may unlock new streams of revenue
Third party developers in the meantime may unlock new streams of revenue for both themselves and Saxo Bank by designing specific applications tailored to the needs of different traders. According to the Danish multi-asset brokerage, the adoption of SaxoTraderGO by its clients has been steady and due to this the firm decided to scrap its MetaTrader4 offering after the launch.
All developers who are willing to program on the new open API that Saxo Bank is launching will have a dedicated Developers Portal, which includes information on documentation, libraries, sample code and technical support.
about 30 per cent of Saxo Bank's clients have migrated to SaxoTraderGO
According to the latest information provided by Saxo Bank after the new platform’s launch, about 30 per cent of its clients have migrated to the new solution. The firm has also set a date on the rollout of the new platform to white label customers. About 120 institutions who are already clients of the Danish brokerage will be able to access SaxoTraderGO in October.
Commenting on the launch, the Head of Business Lines at Saxo Bank, Matteo Cassina, said: “For a long time the industry has grappled with the dilemma of building versus buying, but the pace of technological change has made it impossible for institutions to maintain an edge when it comes to innovation. The result is a paradigm shift from a business-to-customer economy to a so-called collaborative economy.
The accelerated adoption of technology and the increase in mobile business-to-customer interaction presents a huge growth opportunity for our partners, offering the potential to multiply trading volumes, create new revenue streams and protect their businesses against rapid digital change," he concluded.
Devexperts Checks Off Type 2 SOC 2 Audit for Enhanced Data Security
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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