Order Management

Enhancing Your Investment Procedure

CaliberX offers order APIs across the array of alternative investment products featured in our Marketplace. Our platform is tailored to guarantee a seamless, efficient, and compliant journey through the investment process.

Order Initiation

Our OrderIntent API functions as an early-stage validation tool for order inputs, ensuring regulatory compliance and other checks are met before an order is finalized. Once all the checks are cleared, the creation of an order can be confirmed.

Validation Safeguards

The Order and OrderIntent APIs work to confirm that only eligible individuals or entities have the ability to invest in an investment offering in the Marketplace. For instance, if an individual is making an order with a RegD 506(b) fund via an investment account, accredited verification must have been successfully completed for the individual.

Payment Options

The Parties API facilitates the addition of single or multiple payment methods to individuals or entities. A payment method is necessary when making an order and is utilized to distribute fund disbursements. For guidance on funding the order, please refer to Invoicing.

Subscription Documentation

For privately offered funds, an order will require a signature. All pertinent documents in the signing packet will be accessible via the Order API for display to the end customer. For added convenience, the subscription document attached to the relevant instrument can also be shown to the end customer. Additionally, the Public Placement Memorandum (PPM) is included in the packet for the end client's perusal and is also accessible on the pertinent instrument.

Order Endorsement

Depending on the nature of the offering, an order may require a signature before progression. The Order API will return a status indicating a signature requirement. Upon signing an order, all relevant documents will be cryptographically signed. These documents will be accessible on the investment accounts API and can also be fetched via the OrderAPIs for future reference.

Billing

On a monthly basis, invoices will be made accessible on the admin portal. These invoices will provide an account breakdown of the funding due for that month and the details of the fund custodian. Once payment for the invoice is received, the account details will be updated. All changes will be accessible via webhooks.

Capital Calls

Depending on the nature of the offering, committed capital is called upon over a period to minimize cash drag. While placing an order via the APIs, any capital call schedule will be provided. In such instances, only the proportion of the capital that needs to be called upon will be invoiced.

Settlement

Once all committed capital has been fully paid, an order will be labeled as settled. In instances where an Order has a capital call schedule, the settlement will occur at a significantly later date.

Shareholding

We have a unified model across funds that accounts for shares for fund of funds and ownership percentage for feeder funds. In the case of feeder funds, we assume a total of 100 outstanding shares and allocate according to ownership at closing. This allows you to maintain a unified model that displays unit cost, price per unit, and asset value across different types of investment offerings.

Transactions

We uphold a double-entry ledger for both monetary and share/ownership transactions. This provides detailed insights into the activities related to an order. You have the option to share these details with your customer and utilize them for internal operational procedures.