Welcome to our guide on the Preferred Broker Program and the delinking process. This article will help you understand the benefits of the program and how to manage your reporting requirements when changing employment.
What is the preferred broker program?
Saxo is committed to ensuring that all necessary trade reporting is conducted efficiently, which is essential for many financial institutions when their employees trade with a broker.
This allows you to concentrate on trading, confident that your regulatory obligations are being fulfilled. Your employer can seamlessly access your trading reports, which is why numerous financial institutions endorse Saxo as the preferred broker for their employees, thereby establishing the "Preferred Broker Program."
If Saxo is designated as a preferred broker by your employer, it means they have already set up a system with us. Your trading reports will be automatically sent to your employer once you let us know you are an employee with them - linking your account with your employer.
Linking your Saxo account with employer
If you wish to link your Saxo account with your employer, please reach out to them first. If Saxo is a preferred broker, they should have the details of a disclosure form for Saxo (a link). It's important to check with your compliance team to ensure everything is set up correctly. You will then use the link to login Saxo account and submit the disclosure request.
If they haven't set up anything with Saxo, it means Saxo is not yet a preferred broker. If you still need to send your report to your employer, you can choose to download the reports regularly from the Saxo platform and send them to your employer directly. Alternatively, you can request Saxo to set up a trade confirmation email to your employer. You can contact us for further assistance.
Why is delinking important?
For clients working in the financial industry, reporting trades is often a necessity due to compliance policies. When you change employment, it's crucial to manage how these trades are reported. You may need to inform us if you wish to stop reporting your trades to your previous employer.
Steps to delink from your employer's reporting feed
Delinking is beneficial if you have previously requested to disclose your trades to your employer, which is a financial institution and has Saxo as a preferred broker. This implies that you have linked your Saxo account to your employer. If you have never requested Saxo to disclose your trades, or if your employer does not have Saxo as a preferred broker, you do not need to use this function. Saxo ensures that your account is secure with us, and your information is not disclosed to any third party without your permission.
If you previously linked your account with your employer and have since left the company, you can stop disclosing your account by:
- Consult Your Compliance Team: Before making any changes, contact your compliance team for guidance. They may reach out to Saxo directly to confirm your removal from the reporting flow.
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Direct Delinking via Saxo platform: If instructed to contact Saxo directly, follow these steps to delink from your employer's feed: Login your Saxo account > Go to Support
> Contact us > Write to us > Account support > Employer Delinking
Enter the employer name and submit the request.
By following these steps, you can ensure that your trades are no longer reported to your previous employer, in accordance with their disclosure rules.