How is AROI calculated on the Maclear Secondary Market?
03.08.2026
4 min
AROI (Annualized Return on Investment) on the Maclear Secondary Market shows the projected annual return on a position being listed or purchased, adjusted for the remaining loan term. It lets buyers compare listings on equal terms regardless of how much of the original loan duration remains. Formula: (Expected Earnings ÷ Remaining Period) × (365 ÷ Principal Purchased).
Why AROI is needed on the Secondary Market
APR is the rate set when the original loan was funded — it reflects the annual return on the original principal over the full term. On the Primary Market, all investors enter at the same price and the same rate, so APR is sufficient for comparison.
On the Secondary Market, two positions with the same APR can represent very different actual returns for a buyer. A position sold at a discount delivers more earnings per euro invested than the same position at face value. A position with three months remaining generates less total interest than one with twelve months remaining. APR alone cannot capture these differences.
AROI adjusts for both the purchase price and the remaining term, giving buyers a single comparable figure that reflects what they actually pay and how long the investment will run.
How AROI works in practice
If a seller applies a discount, the buyer pays less for the same future cash flows — AROI rises above the original APR. If the listing price exceeds face value, AROI falls below the original APR. AROI updates when the listing price changes.
What does the Discount field mean on the Maclear Secondary Market?
The Discount field defines the percentage reduction from the investment's nominal value that the seller applies to the listing price. Sellers can set a discount of up to 50% of face value. A discount reduces the seller's proceeds and increases the buyer's AROI. A discount of 0% means the position is listed at full face value.
How is AROI different from APR on the Maclear Secondary Market?
APR is fixed at the time the loan was funded and does not change. AROI is the buyer's projected return based on the Secondary Market purchase price and the remaining term at the moment of purchase. APR reflects what the borrower pays; AROI reflects what the buyer earns on what they actually spend.
Maclear AG, registered in Switzerland, member of PolyReg SRO, a self-regulatory organization supervised by FINMA.
See also: How to use the Maclear Secondary Market: buying and selling investments explained · How returns are split between seller and buyer on the Maclear Secondary Market