Cash Available is the funds available for withdrawal or for buying cash products (stocks, bonds, funds, options).
It is calculated from the following components:
| Cash balance | |
| Transactions not booked | |
| Value of stocks, ETFs, bonds, funds | The value (reduced by the haircut 'Not available as margin collateral') can be used to offset components that would otherwise reduce cash available (initial margin reserved, cost to close). |
| Value of options |
Negative option value reduces cash available as it is reserved for buying back the options. Positive option value can offset net margin losses, however Cash Available can never exceed initial margin available. |
| P/L of margin positions | Net margin losses reduce cash available. Net profits offset components that would otherwise reduce cash available (initial margin reserved, negative value of options, cost to close). |
| Cost to close |
Cost to close reduces cash available unless it is offset by positive P/L of margin positions or Value of stocks, ETFs, bonds, funds. In other words, if the cost to close a position is higher than the value of the position, the difference between cost to close and value is deducted from the Cash available. |
| Initial margin reserved | The part of initial margin reserved that is not offset by the items above reduces cash available. |
Cash available is shown in Account modules and in Trade Tickets. It is calculated for Accounts, not for Account Groups or All Accounts.
Grouped accounts
For cross-collateralized accounts, each account's Cash available considers funds spent or reserved for margin in other accounts and not covered by its cash.
Cash available for each account is calculated as the lower of:
- The methodology above applied to that account
- The methodology above applied to the account group
Account level margining
Cash available is calculated separately for each account, without any spillover between accounts.
Account Shield and Saxo Select Investment Shield
Account shield amounts can reduce Cash available. This is to ensure any withdrawn or spent cash does not activate the account value shield.
Net Free Equity
Net Free Equity amount is different from Cash available.
Aktiesparekonto
Cash available in Aktiesparekonto is reduced with the unrealized withholding tax. The unrealized amount cannot be withdrawn but can be used for trading.
What about my total cash?
Settled plus unsettled cash are shown in Account Details, labelled as ‘Cash’.
Inter account transfer
The funds available for transfer between subaccounts may be higher than cash available. Refer to platform module Inter Account Transfer where “Estimated available for transfer” is shown:
Examples
1. Portfolio with cash products (stocks, bonds, mutual funds)
Cash available is calculated as:
- Cash balance: $100,000
- Transactions not booked: -$9,971.28
- Cost to close is excluded as it's fully offset by Value of stocks, ETFs, bonds, funds
- Cash available = $100,000 - $9,971.28 = $90,028.72
2. Portfolio with margin products
Cash available is calculated as:
- Cash balance: $100,000
- Transactions not booked: -$100
- P/L of margin positions of $10,000 offsets Initial margin reserved
- Cost to close: -$100
- Initial margin reserved participates with -$14,390 (-$24,390 + $10,000 P/L of margin positions)
- Cash available = $100,000 - $100 - $100 - $14,390 = $85,410
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