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Create Scale Auction Buy Orders

This sub-resource allows the user to place a Scale Auction order.

Operation: POST

URL: https://api.lendingclub.com/api/lcx/v1/primary/investors/{investor-id}/passive/orders/buy-order

Path Parameters:

Name

Type

Required

Description

Investor-id

Integer

Yes

Investor’s Actor ID

Query Parameters: None

Supported formats: JSON

Request Payload: JSON request for submit order

Body Parameters:

Name

Type

Required

Description

orderType

String

Yes

LIMIT

passiveItems

An array of passive items (details below)

buyerAid

Long

No

AID of the buyer

passiveItems:

Name

Type

Required

Description

loanGrade

String

Yes

Grade for loans

orderAmount

BigDecimal

Yes

Requested order volume in dollars, value must be positive, each bid should be above minimum of 40,000

bidPricePercent

BigDecimal

Yes

Bid price percentage vs par 1.0 is 100% or par, bid price must be positive and between 1(100%) to 1.05 (105%)

roomName

String

Yes

Passive auction room

Payload Schema:

{

"buyerAid": 12345,

"orderType": "LIMIT",

"passiveItems": [

{

"loanGrade": “P1”,

"bidPricePercent": 1,

“orderAmount”: 100000,

“roomName”: “PASSIVE_ROOM”

}

]

}

Response Parameters:

Name

Type

Description

buyerAid

Long

AID of buyer

orderId

Long

Unique Id of the order

passiveItems

Array of passive item for the order – see details below

passiveItems:

Name

Type

Description

id

Long

Unique id for the passive item

loanGrade

String

Grade for the loan

bidPricePercent

BigDecimal

Bid price percentage vs par1.0 is 100% or par

orderAmount

BigDecimal

Order volume in dollars

roomName

String

Name of the room where order was placed

status

String

Status of the passive order item. Possible statuses

RECEIVED

REJECTED

FILLED (Not a possible status at time of buy order submission. Only available after fulfillment)

NOT_FILLED (Not a possible status at time of buy order submission. Only available after fulfillment)

statusDate

Timestamp

Timestamp when the status was set, in UTC

failReason

String

Reason for rejection of a passive order item. Possible

reasons:

ACTIVE_BID_EXISTS

BID_PRICE_TOO_HIGH

BID_PRICE_TOO_LOW

BUYER_NOT_ACTIVE_IN_ROOM

Sample Request:

https://api.lendingclub.com/api/lcx/v1/primary/investors/123123123/passive/orders/buy-order

Sample Body:

{

"orderType": "LIMIT",

"passiveItems": [

{

"bidPricePercent": 1.03,

"loanGrade": "P1",

"roomName": "PASSIVE-ROOM-1",

"orderAmount": 50000

},

{

"bidPricePercent": 2.0,

"loanGrade": "P2",

"roomName": "PASSIVE-ROOM-1",

"orderAmount": 60000

},

{

"bidPricePercent": 1,

"loanGrade": "P1",

"roomName": "PASSIVE-ROOM-2",

"orderAmount": 40000

}

]

}

Sample Response:

{

"orderId": 101,

"passiveItems": [

{

"id": 10001,

"loanGrade": "P1",

"bidPricePercentage": 1.03,

"orderAmount": 50000,

"roomName": "PASSIVE-ROOM-1",

"status": "RECEIVED",

"statusDate": "2022-04-04T01:12:20.788Z"

},

{

"id": 10002,

"loanGrade": "P2",

"bidPricePercentage": 2.0,

"orderAmount": 60000,

"roomName": "PASSIVE-ROOM-1",

"status": "REJECTED",

"statusDate": "2022-04-04T01:12:20.788Z",

"failReason": "BID_PRICE_TOO_HIGH"

},

{

"id": 10003,

"loanGrade": "P1",

"bidPricePercentage": 1,

"orderAmount": 40000,

"roomName": "PASSIVE-ROOM-2",

"status": "REJECTED",

"statusDate": "2022-04-04T01:12:20.788Z",

"failReason": "BUYER_NOT_ACTIVE_IN_ROOM"

}

]

}

Passive Buy API Validation

There are two types of validation errors:

Error #1: When the request itself is invalid, the request will receive 400 response and no bids will be accepted into the system.

API level validation error happens when:

1. Bids are submitted outside of open bidding window

2. Not all the rooms in request are open passive auction rooms

3. Buyer has insufficient fund to cover combined amount from bids

4. Any bids in request is below minimum amount of $40,000.00

5. Request contains multiple bids of same room/grade

Error #2: When the request itself is valid but one or more of the bids are invalid, the invalid bids will be saved in system with REJECTED status while the valid bids are accepted.

API level validation error happens when:

1. Buyer already has another RECEIVED bid in the same room

2. Bid price is too high

3. Bid price is too low

4. Buyer is not an active buyer in room

5. Bid amount is missing or non positive

HTTP Status Summary:

Code Description

200 Success

400 Validation or business error

401 Unauthorized

403 Forbidden

404 Not Found

452 Market closed

500 Unexpected failure

Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

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