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.
“true” indicates that the investment representative is exercising discretion on the subscription,
“false” indicates that the investment representative is entering the order according to the instructions provided by the client.
A subscription giving the investment representative the ability to determine execution parameters for a trade. This discretion can be exercised through control over the side (buy/sell) or amount of the subscription. At the time the associated purchase order is generated, this selection will be passed onto the order.

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.
“true” indicates that the investment representative has initiated contact with the client to recommend and affect an offer subscription within their account,
“false” indicates that subscription request has been initiated by the client, either by being placed by the client, directly, or contact made by the client to the investment professional to affect the subscription in their account. At the time the associated purchase order is generated, this selection will be passed onto the order.

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

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