Go-Live Checklist

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Integrating through Apex AscendOS?

The product guidance on this page applies to you. The endpoints, fields and statuses are Monark's; use the AscendOS equivalents listed in Building on Apex AscendOS.

Work through this list in the sandbox, then review it with Monark before your production API key is issued.

Setup

• Every entity you distribute through is set up as a financial institution, and you hold its financialInstitutionId
• Your deal or operations team has Alts Desk access, and whoever approves SPVs knows it can be done there or through PUT /primary/v2/partner-approval/target/{id}/approve
• Your production webhook is registered, verifies the X-Webhook-Signature (Base64 HMAC-SHA256 over the raw body), and skips repeats using X-Webhook-Event-Id
• Your webhook handler returns a 2xx within 30 seconds and processes afterwards

Investors and Eligibility

• Every investor has a current accreditation status. Transactions for investors with none, one more than 12 months old, or NOT_APPLICABLE are refused
• Accreditation is re-collected annually, and investors are prompted before it lapses rather than at the point of order
• Regulation D offerings are presented only to accredited investors
• Qualified purchaser and qualified client status is recorded where the offering requires it

Offerings

• An SPV is presented as investable only when monarkStage is PRIMARY_FUNDRAISE and isApproved is true. Neither condition alone is sufficient
• Prospective offerings are labelled as upcoming and are clearly non-binding: no signature, no cash check, no gating to submit an indication of interest
• Deal terms, fees and the all-in price per share are shown before the investor commits
• The PPM, risk factors, series agreement and subscription agreement preview are available to read before subscribing
• Share counts shown to the investor are labelled as estimates

Cash

• The investor's cash balance is checked, and the amount locked or debited, before the transaction is created. Monark does not hold investor cash and cannot see it
• Reserved cash is released when a transaction reaches Canceled or Failed
• Your operations team knows to wire the aggregate, including fees, to the SPV account on Monark's request at close, using the wire instructions in the SPV's document set

Orders

• Every transaction sends a unique referenceId and an IdempotencyKey header
• A timed-out POST is retried with the same IdempotencyKey, and a retry outside the 24-hour window falls back to a GET /primary/v2/transaction lookup by referenceId before resubmitting
• Amount inputs validate against minCommitmentAmount and remainingDollarAllocation before submission, including the case where less than the minimum remains and the last investor must take exactly the remainder
• No seats remaining for the SPV. is handled as a closed offering rather than an error — an SPV can be seat-closed while dollars remain
• Refusal messages are shown to the investor verbatim, alongside a way to correct and resubmit
• Your UI branches on the transaction status, not only on the HTTP status code
• side is sent as Subscription, and enumerations are sent with exactly the casing in the reference

Actions and Signatures

• Every action returned for a transaction is presented, including ViewDisclosure and Questionnaire, not only documents and text
• Questionnaire answers are submitted before the questionnaire action is completed
• The investor is told, before they commit, that reaching Processing makes the subscription binding
• You retain your own record of each acknowledgement and signature for your books and records

Operations

• Transaction status is driven by webhooks, with the transaction endpoints used to reconcile
• Your webhook handler accounts for the fact that SubscriptionStatus carries the v1 status vocabulary, where a v2 Canceled arrives as Rejected
• The webhook event log is checked after any outage on your side, because failed deliveries cannot be resent
• PendingSubscriptionReminder drives a prompt to investors who abandoned a transaction with actions outstanding
• Positions, NAV marks, monthly statements and K-1s are surfaced from Monark's endpoints
• Corporate actions are surfaced, and your team knows that cash or share settlement from one is handled directly with your custodian
• Investors are told that privately acquired shares carry a 180-day lock-up after an IPO

Sandbox Tests

• A subscription taken from investor creation to Processing, as in the Sandbox Walkthrough
• A subscription below the minimum commitment, refused and corrected
• A subscription above the remaining allocation, refused and corrected
• A transaction with a document signature action, completed
• An expired or missing accreditation, refused
• An indication of interest against a prospective offering
• The responses in Errors & Reason Codes that your UI handles

When these are done, Monark issues your production API key and base URL.