Introduction

This document outlines the BOT (Smartfund) investor bidding process in full, including sample files and field/column descriptions.

Process Overview

Fully Automated Version

Environment

1- Clearmatch Application API triggers a ‘come and get me’ PULL notification from the BOTS, every time an Application is created and has reached a status of ‘Approved’.

2- The BOTS service, running on the Rackspace BI Application server, will then retrieve the required Input data information from the API’s (Investor details, Balance summaries) at 10am and 1pm on weekdays

3- The BOTS service will then calculate allocations based on all the provided Input data (application level / portfolio level restrictions and desirability) and produce a bid stack of potential investors

4- The BOTS service then collects all valid bids from Investors until the listing is fully funded, and then sets the common clearing price and allocates the Investors with requested amounts to the listing bid stack

5- The BOTS service triggers a PUSH notification out to Clearmatch in the form of a multiple bids allocation output into the bidding API, it will also generate a bid file out to a shared network drive (including non-allocation files)

6- Investor Services will then be notified that a Listing has been Fully Funded and is ready for the Bids to be approved (only while auto approvals for bid files is set to manual)

7- Investor Services can then review and approve the bidding for the application, the customer is then informed that their application is complete and ready for them to finalise within the portal

Clearmatch Settings

To enable Smartfund bidding for an Originator Group Product you need to setup the following settings:

- Ensure all Investors have been setup with the correct Smartfund Product & Asset Class Mandates

- Ensure you have a Smartfund API Service account provisioned (with token account) – Clearmatch Dev Team

- Ensure the Smartfund API endpoint has been configured to point to the BOTS notification receiver server (Clearmatch Dev Team)

- Ensure the Originator Group Products – Bid Value business rule has been setup to ‘Allow Smartfund Bidding’ – to Yes (this is per product)

- Determine whether you wish to manually approve or auto approve Smartfund Bids – ‘Smartfund Bids to be Approved’ (this is per product)

Clearmatch Inputs

There are 4 Clearmatch Inputs into the NEW BOTS;

- Investor Mandates (Investor Smartfund Mandate API)

- Investor Data (Investor API)

- Investor Balances (Investment Summary API)

- Application Data (Application API)

*** There is one other input into the BOTS process called the Challenger Portfolio, this is a scheduled job run by the Analytics team from the Data Warehouse directly into the Smartfund database

Investor Mandates (Mandates API)

Investor Mandates Data specifies what an Investors preference for investment are. This is made up of different attributes that are used to restrict or allow certain Investors to bid on certain applications.

Filters:

- All active Investor Mandates with an investible balance greater than or equal to $100

- Investor does not have a restrictive asset class mandate

Fields:

Investor Data (Investor API)

Investor balances data is used to see how much money an individual investor has at the time of bidding (Investible Balance). This ensures that an investor has enough cleared funds to allocate money to a loan without making them overdrawn (no money, no bidding). This is a LIVE data pull directly out of the Clearmatch production database.

Filters:

- All Investors for a Finance Company

Fields:

Investment Data (Investment Summary API)

Investments data is used to retrieve the current portfolio data for a specific investor. This data allows the BOTS to determine if an investor is within mandate.

Filters:

- All investors

- Current Calendar Month for repayments (i.e. 1st to Today)

- Balances one day behind (data warehouse)

Fields used:

Application Data (Application API)

As an application becomes available for bidding (i.e. Approved) a notification is sent through to the BOTS.

The BOTS will then schedule a batch run of all bidding twice a day (9.00am and 1pm) to process new applications  *** this can be automated later on to run real time, but we would need to convert the BOTS application from and executable application into a windows service.

Filters:

- This is a push notification from Clearmatch, one application at a time

Fields: