Syndication
As mentioned in the overview to this chapter, an issuer may choose to syndicate the fulfillment of a round by inviting brokers to participate. This is only possible in cases where the broker has created the issuer, either through the Vertalo portal or programmatically via the API (as described in the previous section). The issuer then (and only then) has the option to invite the broker to a round they have previously created. The broker must then accept the invitation, after which they can create allocations and distributions exactly as an issuer would, and thereby contribute to the fulfillment of a round as part of their syndication efforts. The invitation/acceptance actions are typically performed through the Vertalo portal (with each respective party logging into the Vertalo portal and performing their part), though it is possible to execute these actions via the API.
mutation {
updateBrokerAllocationById (
input: {
id: "a1f338de-6d60-444b-a18c-482b97d63022"
brokerAllocationPatch: {
status: "accepted"
}
}
) {
brokerAllocation {
id
status
}
}
}
In this example, the broker has accepted an issuer’s invitation to participate in the fulfillment of a round, based on the issuer having previously creating an invitation for the broker. (Once again, the broker must have created the issuer in the first place.) The key element here is the value of the id field which identifies the issuer that issued the invitation, known as a broker allocation ID. The following query returns all broker allocation IDs (and, therefore, invitations) for the current broker:
Request:
query {
allBrokerAllocations {
nodes {
id
status
roundByRoundId {
assetByAssetId {
accountByIssuerId {
name
}
}
}
}
}
}
Response:
{
"data": {
"allBrokerAllocations": {
"nodes": [
{
"id": "ae0b8ca6-6367-47c7-b7bc-819aab3728f2",
"status": "sent",
"roundByRoundId": {
"assetByAssetId": {
"accountByIssuerId": {
"name": "Issuer #1"
}
}
}
}
]
}
}
}
Please see the Issuer Actions chapter for details on creating allocations, setting up investors, and creating distributions as the process is exactly the same for brokers.
IMPORTANT: Brokers may not issue shares or tokenize investor holdings; this is a privilege reserved for issuers only.