Corporate Actions information

Deletion of Open Orders as a Result of Corporate Actions

The day before a Corporate Action event is scheduled to take effect (the Ex-date), Open Orders are deleted for certain event types. The following details the rules of behaviour:

For dividends and rights issues, all open orders for the given instrument will be deleted if the change in the market price is calculated to be over 20% due to the Corporate Action event.

Procedure for Handling New Positions in Instruments NOT Tradable Online with Saxo Bank

Sometimes a Corporate Action involves an instrument that is not tradable online with Saxo Bank. Under those circumstances, the procedures are as follows:

Stock positions: Positions in new instruments that are not tradable online, assigned as a result of a Corporate Action, are booked to the clients account. The instrument will be added to the client account for reporting purposes.

CFD positions: Positions in new instruments that are not tradable online, assigned as a result of a Corporate Action, are liquidated. The proceeds are paid in full to clients.

On CFD positions in instruments with status ‘Non shortable'*: Positions in new instruments that are not tradable online, assigned as a result of a Corporate Action, are liquidated. The proceeds are paid in full to clients.