Saxo Bank to Implement New Compliance and Disclaimer Measures for OpenAPI Users

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Saxo Bank has announced a significant update to its OpenAPI services, requiring all users to implement pre-trade disclaimers before orders can be placed.

This new compliance measure, set to take effect in May 2025, will impact all applications that utilize the OpenAPI platform, making it mandatory for developers to ensure their systems can handle these disclaimers.

Pre-trade disclaimers are messages that must be presented and accepted by users before proceeding with an order.

These disclaimers come in various forms, including blocking disclaimers, normal disclaimers, and recurring disclaimers, each with different user interactions, such as clicking a checkbox or providing specific input.

The new requirements are designed to enhance transparency and ensure users are fully informed before making financial transactions.

Developers of OpenAPI applications will need to adapt their platforms to meet these new compliance requirements. To do so, they must integrate a series of steps into their applications, which includes:

1. Calling the Order Pre-Check Endpoint: This will allow developers to identify any disclaimers required for an order.
2. Retrieving Disclaimers: Developers must use the disclaimer service to get detailed information on each required disclaimer.
3. Presenting Disclaimers to Users: The application must properly display the disclaimers to users and capture their responses.
4. Proceeding with the Order: Only after all disclaimers are accepted can the order be placed.

Failure to implement these new measures by the May 2025 deadline could result in orders being rejected if disclaimers remain unacknowledged.

Saxo Bank’s new policy aims to streamline compliance and ensure better risk management for both developers and users.

The bank has provided detailed guidance in its documentation, offering developers the tools necessary to implement the required disclaimers and avoid disruption to their services.

For more information, developers can access the full documentation and start preparing their applications to meet the new requirements.

As the financial services industry moves towards greater accountability and transparency, Saxo Bank’s compliance initiative sets an important precedent for secure and responsible trading practices in the digital age.

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