Classifications

• • G—PHYSICS
  • G06—COMPUTING; CALCULATING OR COUNTING
  • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
  • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
  • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Definitions

• the present invention relates to an improved system and method for trading
• Still a further object of the present invention is to provide a securities trading
• the invention provides a method for approving a proposed
• approved the system may automatically generate a confirmation notice of the
• each team member's account is credited with
• This method leverages the Internet by bringing a seller together with a prospective
• Fig. 3 is a block diagram of a team trading portion of the system of FIG 1
• Fig. 6 is a flow diagram of a customer enrollment process provided by the
• Fig. 7 is a flow diagram of customer login and services pages provided by
• customers 106 at widely dispersed geographic locations can communicate with the
• Each SBD has a number of its own customers 116 that access the
• the CRR reflects the customer's financial resources (such as net worth, annual
• the CRR is determined automatically
• TRR trade risk rating
• the TRR is gauged to the risk rating that was assigned to the particular customer
• the indications 158, 162 may be in the form of 'bonds for
• the C2C trading routine 154 also confirms that the seller 156 has the bond
• the C2C trading routine 154 also determines the fair market value 170 of the
• any conventional electronic data communication link such as a modem
• the risk rating for each customer preferably comprises a code consisting of
• the customer can execute one or more electronic trades which implement the
• the trade ticket identifies
• Trade settlement includes an
• the system 100 reviews the
• the team trade trading pages may be
• a customer starts a team by entering a start-team command at step 604 and
• the investment goals are determined
• the system determines at step 628 whether the goals of
• the team will be met.
• the goal may include trading by a particular date
• a team trade being executed at step 640 is on the order of one or two days up
• This command displays at the customer's web browser a list of existing teams at step 652
• the customer may enter a search query to search for a
• the customer can also select customer-to-
• the system 100 directs the customer to the C2C trading pages at step 544
• one customer trades directly with another for the instrument that he or
• customers can be individuals, institutions, and others.
• the C2C trading pages of FIG 10 include “bonds for sale” lists and “bonds
• the "bonds for sale” list includes a list of those bonds that are held by
• a customer elects to either buy or sell a bond.
• step 704 if the customer has elected to buy a bond.
• the customer either purchases a bond selected from the "bonds for sale” list, or
• the system also confirms that the purchase is suitable for that customer at
• step 714 by examining the customer's ability to withstand the potential loss of
• wanted list complements the bonds-for-sale list and creates demand for such bonds
• step 740 Otherwise, the seller identifies a bond in his portfolio at step 748 and the
• the prospective seller can add a bond from his or her portfolio to
• step 764 is displayed to prospective purchasers who elect to "buy" bonds at step 764.
• step 702. the seller is assigned an ID at step 766 which is associated with the newly listed bond Thereafter the customer is returned to the command prompt at step 406 of FIG 7
• the ID is assigned to the prospective buyer (the 'buy-side customer " ) and, if the customer is responding to a "bonds wanted” listing,
• step 846 the system 100 ensures that customer-to-customer trades are made at a "fair" price which is
• a price is fair at step 846 relies upon data from one or more information sources 848
• step 850 the buyer and seller are notified that the trade can be executed and
• the system obtains the confirmation from both that the trade is to be executed in
• step 406 such as bond calculators and IRA analyzers
• FIGS 13 through 20 With reference first to FIG 13 the transaction details of a completed trade
• the buying customer s account number 1004 the status of the trade 1006
• the active teams list in FIG 14 includes one
• FIG 15 provides various fields in which customers name the proposed team
• start form 1200 can be cleared using button 1214 or submitted using button 1216
• step 704 may comprise a display such as the web page 1300
• One or more bonds for sale are listed in a table which identifies, among other
• hypertext 1318 may be posted by clicking a button or hypertext-link such as the hypertext 1318
• the amount 1404 the amount 1404, a rating range 1406, a coupon range 1408, a maturity range
• identifier 1416 known only to the system operator A customer interested in selling a
• bonds for sale notice can be
• field 1516 obtains the selling customer s name, account number and e-mail address
• a seller-ID is assigned and included in the seller-ID field
• for-sale form 1500 is submitted using a post form button 1520
• FIG 19 illustrates an exemplary 'bonds wanted" form 1600 which includes
• field 1616 obtains the buying customer's name account number and e-mail address
• a buyer-ID is assigned and included in the buyer-ID field
• wanted form 1600 is submitted using a post form button 1620
• FIG 20 illustrates an order form by which the customer enters information to
• a trade for example, a street trade, a customer to customer trade, or a team trade For C2C and team trades, the customer is assigned a coded identifier, as
• the form 1700 may include one or more of the following fields, which

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• Business, Economics & Management (AREA)
• Accounting & Taxation (AREA)
• Finance (AREA)
• Engineering & Computer Science (AREA)
• Development Economics (AREA)
• Economics (AREA)
• Marketing (AREA)
• Strategic Management (AREA)
• Technology Law (AREA)
• Physics & Mathematics (AREA)
• General Business, Economics & Management (AREA)
• General Physics & Mathematics (AREA)
• Theoretical Computer Science (AREA)
• Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

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• 2000
  • 2000-03-22 EP EP00918234A patent/EP1121648A4/de not_active Ceased
  • 2000-03-22 WO PCT/US2000/007561 patent/WO2000070506A1/en active IP Right Grant

Non-Patent Citations (2)

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