Doug Morris & Adam Smith

Saxo Markets, the multi-asset trading and investing specialist, and Sharesight, a portfolio tracking and tax reporting service provider, have announced a new partnership to deliver an integrated recordkeeping service for self-directed investors.

The Open Banking-like initiative, integrated through an open API, will allow Saxo clients in Australia to create share trading summary reports with one click.

Through the joint solution, investors will be able to easily obtain personalised reports for both performance tracking and tax reporting purposes, including capital gains tax reports and dividend income reports, as well as benchmarking insights to track against the market.

Saxo Markets CEO, Adam Smith said: “Our integration with Sharesight is a natural fit as both of our companies are committed to providing self-directed investors with tools that are often only available to professional investors.”

“This integration also makes tax reporting easier for our clients, providing a seamless solution to reduce the ongoing burden of tax administration.”

Conversely, the integration with Saxo will expose Sharesight clients to a platform provider offering access to 36 international exchanges and over 40,000 instruments across all asset classes.

Sharesight CEO, Doug Morris, said: “Sharesight clients have tended to have a high portfolio weighting to Aussie shares and are not that exposed to global investing opportunities. Given this local bias, we see our alliance with a Saxo as highly beneficial for our clients.”

An investor trading with Saxo will be able to grant their accountant access to trading records via their Sharesight account thereby streamlining much of the manual work that goes into tax reporting.

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