Saxo Bank announces that NASDAQ will terminate access to Russian clients as of April 29, 2022, in response to sanctions imposed on the country.
Following the decision of Nasdaq in the United States and the Nordic countries to stop offering services to customers from Russia starting April 29, Saxo Bank released a statement closing access to all services by NASDAQ for its Russian clients. Nasdaq is a major American stock exchange operator and financial market data service provider with operations locally in Sweden, Denmark, Finland, and Iceland.
The Danish broker announced to its clients via a profile chat on Telegram that Russian clients will not have access to current or pending market data from the NASDAQ exchange from a specified date. Russian clients with open positions will continue to receive pending quotes until they are closed.
Furthermore, Nasdaq will not allow new subscriptions to its data services and will also automatically cancel any active accounts.
Saxo clarifies that its clients need to contact the company if they wish to close positions, and the broker will close them manually.
Earlier this month, Saxo Bank notified that it would cease its services to all its clients in Russia and Belarus from June 6, 2022. The decision was taken in response to Russia's invasion of Ukraine. The broker urges clients from both countries to close positions immediately before the deadline. After the deadline, Saxo will automatically close the account and the refund will be processed as soon as possible.