Multi-asset investment specialist Saxo Bank has announced updates to access roles for its partners’ employees.
Historically, Saxo has controlled the access of employee users by which platform the individual had access to. This was managed by assigning the relevant access profile during creation.
- View only users had access to Webconnect/Monitor
- Trading users had access to the trading platforms such as SaxoTraderGO or PRO
Saxo is now moving towards a more granular authorisation framework where the rights of each employee are controlled at the user level of the logged-in user.
The way this is done is via “Roles”. A Role outlines what the individual user is allowed to do within a platform (trading, creating cases, electing on corporate actions, viewing client data). This means it will, in the future, be possible for each partner to precisely control what actions an individual employee can perform once they are logged into a platform.
The transition to this framework will come in a number of steps and there will be several changes in the near future. None of these changes will change what can be done by a partner’s employees.
Change 1: New roles available in SaxoTools
In SaxoTools under roles, you will see two additional available roles.
- “UserRole.Partner View Only”
- “UserRole.Partner Authorised Dealer”
These are the generic dealer and back office only base roles and will be used to cover the functionality partners’ employees already have with the access profile assignment.
In the future, additional roles will be enabled which will allow partners the ability to control new enhanced operations that can be added to specific employees.
Change 2: Automatic assignment of roles to employees of partners
Shortly, Saxo will assign a partner’s employee users one of these two roles. The assignment depends on whether the user today has access to a trading platform such as GO/PRO or whether the user can only view client data in WebConnect/Monitor.
Users with already assigned roles will NOT be affected by this change. Going forward, partners are expected to assign a role when creating users for their employees. If a role is not assigned, one will be assigned by Saxo within 24 hours.
If an employee user is not assigned a role, the employee will be able to place orders if an access profile allows access to a trading application.
Change 3: Enabling of SaxoPartnerConnect
These changes allow Saxo to roll out its new partner-facing platform, SaxoPartnerConnect, to its partners during the next year. SaxoPartnerConnect will service both trading and non-trading users within the same interface, and in the coming years Saxo will align its partner-facing interfaces within this new platform. At this time, you may see a new Employee access profile being used.
Saxo will provide additional separate communication around the roll-out of SaxoPartnerConnect soon.
