Saxo Bank, a specialist in multi-asset investments, has announced that starting from mid to end June 2024, cross-currency sub-account transfers during FX non-trading hours will no longer be supported.

This change aims to minimize the risk associated with FX conversion errors.

Inter-account transfers between currency accounts in the same currency, such as transfers from a USD account to another USD account, will continue to be supported. Forex trading hours, except for AED, ILS, THB, and RON, remain 24 hours a day, 5 days a week. The new restrictions on cross-currency account transfers will primarily affect weekends and special holidays when the Forex markets are closed.

This adjustment is not directly related to Saxo Bank's OpenAPI, meaning no code changes will be required for the continued use of the impacted endpoints. If a sub-account transfer is requested via OpenAPI during the times when Forex markets are closed, the system will return the error code “CrossCurrencyTransferNotAllowedWhenMarketIsClosed.”

The specific endpoints affected by this change include:

• atr/v1/partner/cashtransfers

cs/v2/cashmanagement/interaccounttransfers

Saxo Bank advises clients to take note of these changes and plan their transfers accordingly. The bank remains committed to improving its services and minimizing risks for its clients by providing flexible and reliable asset management solutions.

For more information, please visit Saxo Bank's developer portal.