Just-In-Time Securities Funding #
Alpaca offers Just-In-Time (JIT) Securities funding which is available for select partners only. When a partner is JIT enabled, Alpaca’s system calculates the difference between inflow and outflow account activity and assesses a single wire amount. Inflows to Alpaca typically consist of executed buy trades, while outflows to the partner are made up of executed sell trades and dividend payments. Should the inflows exceed the outflows across your account base, you will be responsible for sending the funds to Alpaca in time for settlement. If the opposite is true, Alpaca will initiate the wire on the morning of settlement equal to the difference between the outflows and the inflows.
Working on JIT Funding?
See Get Started with Just-In-Time Funding for Broker API for a walkthrough of JIT and the APIs involved in the integration.
JIT Reports #
JIT Securities reports are made available through the API and can be accessed within the hour after 11:30 PM EST on the trade date (T+0). The reports communicate transaction-level details as well as overall settlement amounts, transfer direction, and payment timing.
Parameter | Data Type | Notes |
---|---|---|
detail |
content-type = application/csv |
Contains all activities that impact cash throughout the trading session including executed trades, trading fees, and corporate actions that involve cash allocations. |
net_summary |
content-type = application/csv |
Consists of three columns and a single row, which lists the net money movement to or from Alpaca for T0, T1, and T2. |
net_payment |
content-type = application/pdf |
Highlights the net amount due to Alpaca by settlement or to the partner on the date of settlement in a formalized invoice format. |
net_payment_final |
content-type = application/pdf |
Includes additional information to account for T+0 and T+1 settling activity to clarify settlement journaling reconciliation. This report is generated after trading session close on T+1. |
Retrieving JIT Reports #
GET /v1/transfers/jit/reports
Request #
Sample Request #
{
"report_type": "net_summary.csv",
"system_date": "07-15-2021"
}
Parameters #
Parameter | Type | Required | Notes |
---|---|---|---|
report_type |
ENUM.ReportType | Required |
|
system_date |
string/date | Required |
Date of file generation |
asset_class |
string | Optional |
The asset class to retrieve for. |
Response #
A JIT Securities report in the form of the appropriate content type.
ENUM.ReportType #
Name | Description |
---|---|
detail |
Detail report, content-type = application/csv |
net_summary |
Net Summary report, content-type = application/csv |
net_payment |
Net Payment report, content-type = application/pdf |
net_payment_final |
Net Payment Final report, content-type = application/pdf |
gross_summary |
Gross Summary report, content-type = application/pdf |
gross_payment |
Gross Payment report, content-type = application/pdf |
gross_payment_final |
Gross Payment Final report, content-type = application/pdf |
Detail.CSV #
Attribute | Type | Requirement | Notes |
---|---|---|---|
trns_id | string/UUID | Required |
The transaction ID |
external_id | string/UUID | Required |
The partner’s transaction ID |
summary_categrory | ENUM.SummaryCategoryType | Required |
Assigning the transaction to the corresponding settlement date money movement |
account_id | string/UUID | Required |
The account ID |
account_no | string | Required |
The account number |
symbol | string | Required |
Symbol or asset ID to identify the asset to trade |
system_date | string/date | Required |
The date the transaction was recorded or updated |
trade_date | string/date | Required |
The trade date |
trade_time | string/time | Optional |
The transaction time (EST) for trading activity |
settle_date | string/date | Required |
The settlement date |
entry_type | ENUM.EntryType | Required |
|
side | string | Required |
buy or sell for trading activity |
qty | decimal | Required |
Quantity of securities in the transaction |
price | decimal | Required |
Price of the security in the transaction |
gross_amt | decimal | Required |
Gross payment amount |
commission | decimal | Required |
Commission on the transaction |
net_amt | decimal | Required |
The gross payment less the commission for a transaction |
description | string | Required |
Description of the transaction |
status | ENUM.StatusType | Required |
|
order_id | string/UUID | Required |
The order ID |
client_order_id | string/UUID | Required |
The partner’s order ID |
Net_Summary.CSV #
Attribute | Type | Requirement | Notes |
---|---|---|---|
t0 | decimal | Required |
Net amount due for t0 settling activity where a negative value represents money due to Alpaca |
t1 | decimal | Required |
Net amount due for t1 settling activity where a negative value represents money due to Alpaca |
t2 | decimal | Required |
Net amount due for t2 settling activity where a negative value represents money due to Alpaca |
ENUM.SummaryCategoryType #
Name | Description |
---|---|
in_t0 |
A T+0 settling transaction that results in money due to Alpaca |
in_t1 |
A T+1 settling transaction that results in money due to Alpaca |
in_t2 |
A T+2 settling transaction that results in money due to Alpaca |
out_t0 |
A T+0 settling transaction that results in money due to the partner |
out_t1 |
A T+1 settling transaction that results in money due to the partner |
out_t2 |
A T+2 settling transaction that results in money due to the partner |
jit_journal |
Journal entries generated by the JIT journaling job to flatten customer debits and credits |
ENUM.EntryType #
Name | Description |
---|---|
CSD |
Cash Disbursement (+) |
DIV |
Dividend |
DIVNRA |
Dividend Adjusted (NRA Withheld) |
FEE |
Trading related fees |
INT |
Interest (Credit/Margin) |
JNLC |
Journal Entry (Cash) |
MA |
Merger/Acquisition |
REORG |
Reorg Coporate Action |
TRD |
Trade |
ENUM.StatusType #
Name | Description |
---|---|
executed |
The order has been filled, and no further updates will occur for the order. |
canceled |
The order has been canceled, and no further updates will occur for the order. This can be either due to a cancel request by the user, or the order has been canceled by the exchanges due to its time-in-force. |
correct |
The order has been corrected, and no further updates will occur for the order. |
Daily Trading Limit Object #
The JIT Securities daily trading limit is set at the correspondent level and is used as the limit for the total amount due to Alpaca on the date of settlement. The limit in use returns the real time usage of this limit and is calculated by taking the net of trade and non-trade activity inflows and outflows. If the limit in use reaches the daily net limit, further purchasing activity will be halted, however, the limit can be adjusted by reaching out to Alpaca with the proposed new limit and the reason for the change.
{
"daily_net_limit_in_use": "150804",
"daily_net_limit": "1000000"
}
Attributes #
Attribute | Type | Notes |
---|---|---|
daily_net_limit_in_use |
string/decimal | The real time net value of cash inflows (buy trades, etc.) with cash outflows (sell trades, dividends, etc). This will be dynamic throughout the day based on user activity, with executed orders being reset at the start of the next trading day. |
daily_net_limit |
string/decimal | The net buying limit that can be reached before further cash outflow trading activity is restricted. Please reach out to learn more about how this limit is determined. |
Retrieving Daily Trading Limits #
GET /v1/transfers/jit/limits
Request #
No request parameters
Response #
Returns the JIT Securities Daily Trading Limit Object based off of real time calculations.
Retrieving JIT Ledgers #
GET /v1/transfers/jit/ledgers
Request #
No request parameters
Response #
The response is an array of objects that correspond to each ledger account, each of whichcontain the following attributes.
Attributes
Attribute | Type | Notes |
---|---|---|
id | string/uuid | The ledger ID |
ledger_name | string | The ledger name |
status | string | ENUM.LedgerStatus |
created_at | string/timestamp | Creation time in UNI X format |
Sample Response
{
"common_stock":[
{
"id":"2896b9e2-3198-44cd-a08e-4cc4079aee33",
"ledger_name":"Securities JIT IN",
"status":"active",
"created_at":"1653532627"
},
{
"id":"7f88e5a2-8662-449c-8bd0-07cf5bc7632e",
"ledger_name":"Just In Time Out Wash - JITS",
"status":"active",
"created_at":"1653532763"
},
{
"id":"8090a021-33ea-4b9d-8586-c91df416d952",
"ledger_name":"Just In Time Receivables - JITS",
"status":"active",
"created_at":"1653532805"
},
{
"id":"92b2095b-6370-483e-b6e9-5483bcc0fc1c",
"ledger_name":"Securities JIT JT",
"status":"active",
"created_at":"1653532681"
}
],
"crypto": []
}
Retrieving JIT Ledger Balances #
GET /v1/transfers/jit/{ledger_id}/balances
Request #
Parameters
Attribute | Type | Requirement | Notes |
---|---|---|---|
start_date | string/date | Required |
The start date (inclusive) of the ledgerbalances and activities. |
end_date | string/date | Required |
The end date (inclusive) of the ledgerbalances and activities. |
Response #
The response is an array of objects that correspond to each ledger account, each of whichcontain the following attributes.
Attributes
Attribute | Type | Notes |
---|---|---|
id | string/uuid | The ledger ID |
ledger_no | string | The ledger account number |
ledger_name | string | The ledger name |
transactions | array ofobjects | TransactionObject |
starting_balance | number | Ledger balance at the beginning of thedate range |
ending_balance | number | Ledger balance at the end of thedate range |
activity_amount | number | The number of transactions related to the ledger during the specified daterange |
Sample Response
{
"id":"06b9d76e-1733-460c-844e-48d1ae0f10c3",
"ledger_no":"JTRJITS00",
"ledger_name":"Just In Time Receivable - JIT",
"transactions":[
{
"account_id":"06b9d76e-1733-460c-844e-48d1ae0f10c3",
"account_no":"JTRJITS00",
"account_name":"Just In Time Receivable - JITS",
"system_date":"2022-06-09",
"entry_type":"JNLC",
"description":"debit balance = 4184.36, base_rate = 0.0375, spread = 0.05",
"contra_account_name":"Just In Time Interest Income",
"amount":"1",
"balance":"4185.36"
},
{
"account_id":"06b9d76e-1733-460c-844e-48d1ae0f10c3",
"account_no":"JTRJITS00",
"account_name":"Just In Time Receivable - JITS",
"system_date":"2022-06-10",
"entry_type":"JNLC",
"description":"debit balance = 4185.36, base_rate = 0.0375, spread = 0.05",
"contra_account_name":"Just In Time Interest Income",
"amount":"1",
"balance":"4186.36"
}
],
"starting_balance":4184.36,
"ending_balance":4186.36,
"activity_amount":2
}
Transaction Object #
Attributes
Attribute | Type | Notes |
---|---|---|
account_id | string/uuid | The ledger ID |
account_no | string | The ledger account number |
account_name | string | The ledger name |
system_date | string/date | Date of transaction |
entry_type | string | Type of transaction |
description | string | Plain text overview of thetransaction |
contra_account_name | string | Contra account of transaction |
amount | string/number | Total amount of the transaction |
balance | string/number | Ending balance after thetransaction has been applied |