Danish broker Saxo Bank has released the latest version of its CMS API User Guide, which has undergone deep changes.
The changes affect Qualified Intermediaries working with Relief at Source.
"If you are a Qualified Intermediary and submit your end client's Relief at Source data via the CMS API, you must ensure that the following conditions are met by May 10, 2024," the company said in a statement.
Saxo Bank notes that when submitting Relief at Source information via the CMS API, if the ReliefAtSource.Enabled flag is set to true and the ReliefAtSource.TypeID is submitted, a valid future date (relative to the submission date) should be entered in the ReliefAtSource.ExpiryDate field.
If no action has been taken after this provisioning to ensure that the above requirements are met, i.e., the Expiration Date field is not filled or has a past date, the request will be rejected, which may result in an integration failure.
This validation applies to CMS API CreateCounterpart and UpdateCounterpart requests.
Saxo Bank will deploy the new validation on the Live/TST CMS API endpoint on April 27th. This will allow users to test any changes that may need to be implemented before May 10, 2024.
Qualified Intermediaries will be able to access the Live/Test environment through the Test CMS API user.
Saxo Bank emphasizes that the Portuguese Relief at Source documents do not have an expiration date. Therefore, the ReliefAtSource.ExpiryDate is not required if the ReliefAtSource.TypeID is one of the following:
13 Local Corp (PT SH)
16 Foreign Corp (PT SH)
19 Local Indv (PT SH)
22 Foreign Indv (PT SH)
Saxo Bank is constantly striving to make its applications more accessible to White Label clients. With the CMS API, White Label now has the ability to integrate Saxo Tools functionality into their own systems and retrieve client data for customized reporting.
The CMS API allows the White Label to create and modify clients and transfer funds between the White Label's funding account and client accounts. In addition, the API allows the White Label to retrieve various client data that can be used, for example, to create reports or develop account summaries outside of Online WebConnect.
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