Saxo Bank plans changes to sub-account transfer across currencies

Multi-asset investment specialist Saxo Bank has announced that cross currency sub-account transfers during FX non-trading hours will no longer be supported starting mid/end June 2024.

Saxo Bank is making this change to minimise the risk contributing to FX conversion errors. Inter-account transfers between currency accounts in the same currency (i.e. from a USD to a USD account) will still be possible.

Forex trading hours (except AED, ILS, THB, RON) are 5.5 days per week, 24 hours a day, with the exception of the four currencies mentioned before. The cross-currency account transfer limitations will mainly apply on weekends and special holidays.

This change is not related directly to OpenAPI, and there will be no code changes required to use the impacted endpoints going forward. If a sub-account transfer is requested via OpenAPI during the time where Forex markets are closed, the ErrorCode “CrossCurrencyTransferNotAllowedWhenMarketIsClosed” will be returned.

The endpoints impacted by this are:

atr/v1/partner/cashtransfers:
cs/v2/cashmanagement/interaccounttransfers: