Multi-asset investment specialist Saxo Bank is making changes across all platforms (GO, PRO and Investor), including a redefinition of ‘Cash’.
Saxo is revising the definition of ‘Cash’ across all platforms. A platform notification will be sent to all users to inform them of these changes.
In summary, Saxo will move accruals (financial and corporate accruals) out of cash value and into a new, separate section. As a result, customers’ “Cash” balance may decrease after unlocking, while their account balance will remain unchanged.
The definition of meters will be simplified to:
▪ Cash = Cash Balance + Unrestricted Trades (only the intraday trade part)
o Saxo subtracts financing accruals and corporate action accruals from cash.
Saxo will introduce a new subset (“bucket”) to the rest called Aggregate Data:
▪ Total accruals = Financial accruals + Corporate action reports
o Financial accruals – Unrealized accruals, including financing, borrowing costs, interest and other
o Corporate Action Considerations – Estimated cash due as a result of corporate events, including dividends, bond coupons, withholding taxes, and more
Saxo doesn’t change the definition of account value – just how it adds numbers behind it.
• Now: Account Value = Cash (old definition, including accruals) + Position Value
• Account Value = Cash (new definition, excluding accruals) + Position Value + Total Accruals
• Saxo does not change any risk definitions of numbers such as buying power, available margin or available for withdrawal.
