Nordea Expands FX API Offerings for Post-Trade Automation

Helsinki – Nordea Bank Abp, one of the largest banks in the Nordic region, has introduced a new Application Programming Interface (API) designed to automate post-trade activities related to foreign exchange (FX) transactions, including reporting and accounting. The FX Trade Retriever API is intended to simplify daily FX processes for companies.

Businesses are increasingly adopting automation for FX trading, moving away from manual processes and spreadsheets towards API-driven solutions. While Nordea previously offered tools for automating the trading phase itself, the new API extends automation to cover post-trade functions, enabling a fully automated end-to-end process.

Kristoffer Jansell, an expert in FX automation and digitalization at Nordea Markets, stated that the solution addresses a key customer request for streamlined bookkeeping. The increase in automated trading has led to a greater volume of accounting tasks, which this API aims to alleviate. Nordea assures that the integration guarantees the same pricing and best execution as its other trading channels.

The bank also provides other automation tools, such as the AutoFX currency robot, which executes trades based on predefined rules. FX APIs can be integrated into a company's own systems, allowing for real-time FX risk management triggered by data such as invoices or payments. This shift frees up financial professionals for more strategic responsibilities and reduces the risk of human error.

Testing of the API is available through the Nordea Open Banking developer portal without additional onboarding. Production use requires onboarding through Nordea's FX Sales department.