Class Super, Super IQ on board with new platform
Saxo Capital Markets has collaborated with Super IQ and Class Super to enable SMSF trustee client data to be sent from its recently launched trading platform directly to these administration companies.
Launched this week, the new platform, SaxoTraderGo, is a multi-asset trading platform with 30,000 investment instruments across foreign exchange, futures, options and Australian and international stocks.
Speaking at the launch, Saxo Capital Markets chief executive Anthony Griffin said Saxo Capital Markets has been working with companies such as Super IQ and Class Super to allow their clients’ trading data to be sent from the trading platform to their SMSF administration account.
“The clients of Class Super and Super IQ, which are also our clients, give us permission to take data from this platform and feed it through to these administration companies,” Mr Griffin said.
“Clients can go into their portals and their SMSF will be completely reported and updated, once a day, at the end of the Australian market session, so they get all the portfolio reports that they require to manage their portfolio and super fund, and get all the tax reporting, and so forth.”
According to Saxo Capital Markets Asia Pacific chief executive Adam Reynolds, the development of the trading tool was based on a survey of nearly 3,000 Saxo clients globally. It found that maintaining platform performance and functionality and switching between devices were the main priorities for SMSF trustees and other retail traders.
“We’ve seen a behavioural shift among retail traders, who are looking at the choice of platform not simply as a means to trading, but also as something that makes a difference to their performance,” Mr Reynolds said.
“When asking traders what they wanted to improve the most, charting and usability were the two most-mentioned features, suggesting [the] increasing ‘professionalisation’ of the retail trader.”
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.