Saxo Bank has taken steps to streamline the termination process for both direct and end client partners. The new standardized approach, due to be implemented in October, aims to make the termination process more efficient and transparent for clients and partners.

The decision to close client accounts can be made for several reasons. Some clients may have never funded their accounts, others may have stopped trading for an extended period of time, or their renewals may have expired. In some cases, clients are located in jurisdictions where Saxo Bank no longer offers its services. The upcoming changes will help ensure that such closures are handled uniformly across the board.

As part of this initiative, Saxo Bank will provide partners with detailed information on customers affected by these closures. Relationship managers will soon be contacting partners to provide them with an overview of the customers to be terminated, as well as details on the process, timelines and guidance on how to communicate with affected end customers.

Saxo Bank is also advising its partners and asset managers on how to retain their clients where possible. They recommend helping clients either smoothly transfer any remaining assets or complete any overdue updates or documentation.

This new standardized process reflects Saxo Bank's commitment to ensuring that client accounts are managed efficiently and professionally, as well as offering support to partners and clients during transitional periods.

With the launch of this process, Saxo Bank continues to improve its operational efficiency and maintain high service standards across its global operations.