Receive and manage a holding

Outcome: A funded subscription becomes a confirmed holding after Issuer acceptance, applicable fund-owner signing and pricing, deposit fulfillment, and the Investor's claim. Investor can then view and service the holding.

Owner and application

• Actors: Investor, Issuer, and the applicable fund-wallet owner
• Applications: One Torque investor experience and Issuer workspace
• Supporting owners: Portfolio, investment, document, custody, distribution, and notification services
• Conditions: The selected owned profile has a funded subscription with an authoritative completed rail result. An existing holding is not a prerequisite. The workflow must not issue a second holding for an already confirmed subscription.

Normal path

1. The funding owner returns the authoritative completed result, and the funded subscription enters the Issuer work queue.
2. Issuer accepts the investment through POST /auth/funds/{slug}/investments/{investment_id}/accept and records the acceptance result.
3. If the custody path requires it, the applicable fund-wallet owner signs USDC.approve(Vault, assets) and Vault.requestDeposit(assets, investor, fundWallet), each through its own verification-code handoff. Issuer then submits POST /auth/funds/{slug}/investments/{investment_id}/fulfill with pricePerShare. The price for this investment is not a replacement for the fund's NAV record.
4. The applicable fund-wallet owner signs Vault.fulfillDeposit(assets, shares, investor). The fund-owned operation moves the deposit from Pending to Claimable after fulfillment is confirmed.
5. Investor selects the claim action. The vault processes Vault.deposit(assets, investor, investor) for the exact fulfilled amount of shares.
6. The owning service confirms the claim and returns the issued or received shares. The experience then shows the confirmed holding and its documents, timeline, and transaction records.
7. Issuer maintains operating data, communications, and servicing actions. Investor receives permitted distributions and requests redemption when the confirmed holding permits it.

The custody sequence is: funded subscription → Issuer acceptance → applicable owner signing and investment pricing → deposit fulfillment → claimable shares → Investor claim → confirmed issued or received shares.

Failure, cancellation, and recovery

• A missing or stale service response leaves the funded subscription or holding at a recoverable view and names the relevant service.
• An interrupted fund-owner signing flow keeps the prepared operation and its operation identifier. The owner resumes that operation through the existing verification flow instead of accepting or creating another subscription.
• A deposit-fulfillment failure keeps the persisted subscription and prepared fulfillment record. The owning service reconciles the exact asset and share quantities before a permitted retry.
• A claim recovery refreshes the persisted claimable record and resumes the existing Investor claim. Claimable is not proof that shares were issued or received.
• If the holding is already confirmed, the experience reloads its persisted record instead of creating a duplicate issuance.
• A document or notification failure follows the document or notification owner's recovery path.
• A holding cancellation is not a UI deletion. Investor uses the applicable cancellation or redemption workflow.
• Administrator handles a cross-fund exception and returns the recovery decision to Issuer or Investor.

Handoff and evidence

Handoff	Receiving owner	Completion evidence
Completed funding to Issuer acceptance	Issuer operations	Funded subscription, authoritative rail result, and acceptance record
Acceptance to signing and pricing	Applicable fund-wallet owner and Issuer	Acceptance timestamp, investment-specific price when required, and prepared operation
Signing to deposit fulfillment	Issuer and custody service	Fund-owner operation result, exact asset and share quantities, and fulfillment record
Fulfillment to claim	Investor experience	Confirmed Claimable state and persisted claim record
Claim to confirmed holding	Investment and custody services	Investor claim result, issued or received shares, holding record, and notification
Issuer servicing to Investor	Issuer and notification services	Statement, confirmed distribution, document, or redemption record
Data or provider failure to recovery	Owning service and Administrator	Error context, audit record, and assigned owner

See Portfolio and servicing, data models, and state lifecycles.