If you have been using GIRO, you will experience a change from buy and sell at the same time to follow Saxo’s standard which is sell before buy. The buy order will be placed after the execution of the sell order.
After migration, partners with end-customers using GIRO will use the Model Manager in SaxoPartnerConnect.
Watch recordings of webinar #6 and #7 for a walk-through of Model Manager.
View a series of Model Manager platform tutorials.
Below is an overview of key features and the differences you will experience post-migration.
|
# |
Feature |
Status prior to migration |
Status Post-migration to SaxoPartnerConnect |
|
1 |
Managing Model Portfolio composition |
Models are created/amended by BinckBank based on Model composition details shared by IAM partners. |
Models will be created/amended by IAM users themselves in SaxoPartnerConnect |
|
2 |
Scheduled Rebalancing |
All portfolios are rebalanced on the 1st day of each month manually by BinckBank |
Order proposals will be calculated by the rebalancing engine on the 1st day of each month through an automated process. Orders will then be generated and automatically routed to the market for execution on the next business day. |
|
3 |
Rebalancing calculation |
Order size is calculated to achieve ideal allocation % for all instruments specified in the model. |
Order size is calculated to bring all positions inside the allocation band (Min./Max. allocation %) defined for all instruments in the model. |
|
4 |
New cash deposited in invested portfolio |
Fresh cash deposited by end-clients is invested manually by BinckBank on request from IAM partner either once a week (every Tuesday for most partners) or twice a week (every Tuesday and Friday for some partners). Partners can request either full rebalancing or 'investing cash as per model weight'. |
Fresh cash deposited by end-clients will be invested automatically by rebalancing engine either once a week (every Tuesday for most partners) or twice a week (every Tuesday and Friday for some partners). Rebalancing engine will only perform full rebalancing on portfolios that breach on cash weight. |
|
5 |
Cash Withdrawal request |
Cash withdrawal request by end-clients is processed manually by BinckBank on request from IAM partner either once a week (every Tuesday for most partners) or twice a week (every Tuesday and Friday for some partners). |
Cash withdrawal from a Giro account can be triggered anytime by IAM partners from SaxoPartnerConnect. This request will be picked up overnight by rebalancing engine to partially liquidate positions and once positions settle, cash will be transferred to end-clients external bank account. |
|
6 |
Full liquidation request |
Full liquidation of Giro account is processed manually by BinckBank on request from IAM partner either once a week (every Tuesday for most partners) or twice a week (every Tuesday and Friday for some partners). |
Full liquidation of Giro account can be triggered anytime by IAM partners from SaxoPartnerConnect. This request will be picked up overnight by the rebalancing engine to fully liquidate all positions and once positions settle, cash can be moved out by the partner from SaxoPartnerConnect. |
|
7 |
Model Switch request |
IAM partners send a request to BinckBank. |
IAM partners can do model switch themselves in SaxoPartnerConnect. |
|
8 |
Number of Models that can be created |
IAM partners have a cap on number of Models that can be created. |
IAM partners have no cap on number of Models that can be created. |
|
9 |
Number of instruments that can be added to a Model |
IAM partners have a cap on the number of instruments they can add to a Model. |
IAM partners have no cap on the number of instruments they can add to a Model. |
|
10 |
Minimum Cash % to be held in Model |
It is defined for each partner. |
Can be defined by Saxo Bank as well. |
|
11 |
Total number of instruments (ETFs and MFs) available to construct a Model |
A select list of ETFs and MFs are available. |
Saxo Bank is currently in the process of identifying which ones we can accommodate post migration. |