Depending on applicable regulations or business limitations, specific API requests may not be available for your use.
Create a Private Placement Subscription
This request submits a private placement subscription for a specific account. The subscription can only be submitted if the account owner meets the eligibility settings of the offer as they set for the investor’s firm. A validation will be performed at the time of request to confirm the account owner’s eligibility. If the subscription creation is successful, it returns the URL to access the subscription in the response header.
E-signature Note: Electronic signature capture begins on your site, such as an authenticated user on your web site agreeing to the terms of an offering and submitting a private placement subscription request by marking a required checkbox next to the agreement text (which Folio will generally review on your site prior to use). All requests to API endpoints are time stamped (when sent, when received, and when response is sent—3 timestamps per call) and this is Folio’s record. For private placement subscriptions we further tie the subscription request to viewing and agreeing to all required offering documents (i.e., subscription requests will not be accepted if required documents have not been called).
Request URL
| Syntax | POST /restapi/accounts/{accountnumber}/privateplacementorders |
|---|---|
| Example URL | https://api.uat.foliofn.com/restapi/accounts/RA1234ABCD/privateplacementorders |
Error Code
Please refer to Private Placement Error Codes for the error codes that can be returned from this API.
Request Header Fields
| Field | Required? | Description |
|---|---|---|
| X-Associated-Member-Id | Yes | When an advisor submits a subscription on behalf of a client, the client’s username must be sent in the X-Associated-Member-Id header. |
Request Data Fields
| Field | Required? | Description |
|---|---|---|
| accountNumber | No | Account number for which the subscription will be submitted. If accountNumber is given, it must be the same as accountNumber in the request URL. |
| discretionary | Yes |
Boolean indicator of the discretionary status of the subscription. Note: If the investment professional is promptly entering the subscription on behalf of the client, according to the client’s explicit instruction, or the client is entering the subscription personally, no discretion has been exercised and “false” should be indicated. |
| privatePlacementOfferOid | Yes | The unique identifier of the private placement offer the subscription is being submitted for. |
| reasonForTrade | Yes | The reason for this subscription. Please refer to Reasons for Trade for available codes. |
| requestedDollarAmount | Yes | The maximum dollar amount the investor has requested to invest in the offer. |
| side | Yes | “1” indicates a buy-order, “2” indicates a sell-order. Currently, this call should only use “1”. |
| solicited | Yes |
Boolean indicator of the solicited status of the subscription. Note: If the investment professional is entering the subscription due to a client-initiated request, or the client is entering the subscription personally, the order should be considered unsolicited and “false” should be indicated. |
Request Example
POST /restapi/accounts/RA1234ABCD/privateplacementorders HTTP/1.1
Content-Type: application/json
{
"discretionary": true,
"privatePlacementOfferOid": "7061644215716938184",
"reasonForTrade": "NS",
"requestedDollarAmount": "1000.00000",
"side": "1"
"solicited": false,
}
Response Example
HTTP/1.1 201 Created
X-Powered-By: Servlet/2.5
Server: Sun GlassFish Enterprise Server v2.1.1
Location: https://api.uat.foliofn.com/restapi/accounts/RA1234ABCD/privateplacementorders/576460752303423614
Content-Type: text/html; charset=iso-8859-1
Content-Length: 0
Date: Wed, 19 Feb 2014 19:18:58 GMT