EP1121648A4 - Systeme et procede d'echange de titres en reseau - Google Patents
Systeme et procede d'echange de titres en reseauInfo
- Publication number
- EP1121648A4 EP1121648A4 EP00918234A EP00918234A EP1121648A4 EP 1121648 A4 EP1121648 A4 EP 1121648A4 EP 00918234 A EP00918234 A EP 00918234A EP 00918234 A EP00918234 A EP 00918234A EP 1121648 A4 EP1121648 A4 EP 1121648A4
- Authority
- EP
- European Patent Office
- Prior art keywords
- customer
- trade
- risk rating
- computer
- team
- Prior art date
- Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
- Ceased
Links
- 238000000034 method Methods 0.000 title claims abstract description 60
- 238000012502 risk assessment Methods 0.000 claims abstract description 52
- 238000004891 communication Methods 0.000 claims description 23
- 230000015572 biosynthetic process Effects 0.000 claims 4
- 230000001419 dependent effect Effects 0.000 claims 1
- 238000012552 review Methods 0.000 description 16
- 230000008569 process Effects 0.000 description 15
- 238000012790 confirmation Methods 0.000 description 11
- 238000010586 diagram Methods 0.000 description 11
- 230000004044 response Effects 0.000 description 11
- 238000013439 planning Methods 0.000 description 9
- 238000004458 analytical method Methods 0.000 description 8
- 238000013459 approach Methods 0.000 description 6
- 230000008901 benefit Effects 0.000 description 5
- 238000013479 data entry Methods 0.000 description 4
- 230000000694 effects Effects 0.000 description 3
- 239000007788 liquid Substances 0.000 description 3
- 238000012797 qualification Methods 0.000 description 3
- 230000001105 regulatory effect Effects 0.000 description 3
- 230000004931 aggregating effect Effects 0.000 description 2
- 238000005304 joining Methods 0.000 description 2
- 230000007246 mechanism Effects 0.000 description 2
- 238000012986 modification Methods 0.000 description 2
- 230000004048 modification Effects 0.000 description 2
- 238000012545 processing Methods 0.000 description 2
- 230000026676 system process Effects 0.000 description 2
- 238000012360 testing method Methods 0.000 description 2
- 238000012546 transfer Methods 0.000 description 2
- 241000212977 Andira Species 0.000 description 1
- 244000287680 Garcinia dulcis Species 0.000 description 1
- 230000009471 action Effects 0.000 description 1
- 230000002411 adverse Effects 0.000 description 1
- 238000013473 artificial intelligence Methods 0.000 description 1
- 238000012550 audit Methods 0.000 description 1
- 230000002146 bilateral effect Effects 0.000 description 1
- 230000005540 biological transmission Effects 0.000 description 1
- 238000004364 calculation method Methods 0.000 description 1
- 230000002860 competitive effect Effects 0.000 description 1
- 230000001010 compromised effect Effects 0.000 description 1
- 238000013497 data interchange Methods 0.000 description 1
- 238000013500 data storage Methods 0.000 description 1
- 230000006866 deterioration Effects 0.000 description 1
- 239000000284 extract Substances 0.000 description 1
- 230000006872 improvement Effects 0.000 description 1
- 230000007774 longterm Effects 0.000 description 1
- 238000007726 management method Methods 0.000 description 1
- 239000000463 material Substances 0.000 description 1
- 238000012544 monitoring process Methods 0.000 description 1
- 238000005457 optimization Methods 0.000 description 1
- 238000004321 preservation Methods 0.000 description 1
- 238000003825 pressing Methods 0.000 description 1
- 230000000135 prohibitive effect Effects 0.000 description 1
- 238000012113 quantitative test Methods 0.000 description 1
- 238000010971 suitability test Methods 0.000 description 1
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
Landscapes
- 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)
Abstract
Applications Claiming Priority (3)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
US13495699P | 1999-05-19 | 1999-05-19 | |
US134956P | 1999-05-19 | ||
PCT/US2000/007561 WO2000070506A1 (fr) | 1999-05-19 | 2000-03-22 | Systeme et procede d'echange de titres en reseau |
Publications (2)
Publication Number | Publication Date |
---|---|
EP1121648A1 EP1121648A1 (fr) | 2001-08-08 |
EP1121648A4 true EP1121648A4 (fr) | 2002-07-17 |
Family
ID=22465789
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
EP00918234A Ceased EP1121648A4 (fr) | 1999-05-19 | 2000-03-22 | Systeme et procede d'echange de titres en reseau |
Country Status (2)
Country | Link |
---|---|
EP (1) | EP1121648A4 (fr) |
WO (1) | WO2000070506A1 (fr) |
Families Citing this family (15)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US7177831B1 (en) | 1999-07-23 | 2007-02-13 | The Globe Resources Group, Inc. | System and method for selecting and purchasing stocks via a global computer network |
US6484151B1 (en) * | 1999-07-23 | 2002-11-19 | Netfolio, Inc. | System and method for selecting and purchasing stocks via a global computer network |
US7356498B2 (en) | 1999-12-30 | 2008-04-08 | Chicago Board Options Exchange, Incorporated | Automated trading exchange system having integrated quote risk monitoring and integrated quote modification services |
US9727916B1 (en) | 1999-12-30 | 2017-08-08 | Chicago Board Options Exchange, Incorporated | Automated trading exchange system having integrated quote risk monitoring and integrated quote modification services |
JP2002366757A (ja) * | 2001-06-06 | 2002-12-20 | Nikko Cordial Securities Inc | 文書データの配信システム及びその方法、有価証券の新規募集/売り出し/買い付けシステム及びその方法 |
US7653584B2 (en) | 2001-06-29 | 2010-01-26 | Chicago Board Options Exchange, Incorporated | Automated execution system having participation |
US7613650B2 (en) | 2003-04-24 | 2009-11-03 | Chicago Board Options Exchange, Incorporated | Hybrid trading system for concurrently trading securities or derivatives through both electronic and open-outcry trading mechanisms |
US7676421B2 (en) | 2003-04-24 | 2010-03-09 | Chicago Board Options Exchange, Incorporated | Method and system for providing an automated auction for internalization and complex orders in a hybrid trading system |
US8219487B2 (en) * | 2003-10-15 | 2012-07-10 | Blackrock, Inc. | System and method for managing credit risk for investment portfolios |
US8249972B2 (en) | 2007-11-09 | 2012-08-21 | Chicago Board Options Exchange, Incorporated | Method and system for creating a volatility benchmark index |
US8321322B2 (en) | 2009-09-28 | 2012-11-27 | Chicago Board Options Exchange, Incorporated | Method and system for creating a spot price tracker index |
US10262368B2 (en) | 2014-09-01 | 2019-04-16 | Huddlestock Capital AS | Apparatus, data base system and computer program product for trading financial instruments |
ZA201507862B (en) * | 2014-10-27 | 2017-03-29 | First World Trader (Pty) Ltd | Method for the purchase and sale of a traded security and a fractional right based thereon |
CN111679967B (zh) * | 2020-04-27 | 2023-04-21 | 贝壳技术有限公司 | 用于测试的交易单的展示方法及装置 |
US20230153904A1 (en) * | 2020-05-15 | 2023-05-18 | Gabrienne Trading Systems (Pty) Ltd | Systems and processes for peer-to-peer financial instrument transactions |
Family Cites Families (10)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US4903201A (en) * | 1983-11-03 | 1990-02-20 | World Energy Exchange Corporation | Automated futures trading exchange |
US4933842A (en) * | 1988-02-29 | 1990-06-12 | Tesseract Corporation | Automated investment fund accounting system |
US5136501A (en) * | 1989-05-26 | 1992-08-04 | Reuters Limited | Anonymous matching system |
CA2090744A1 (fr) * | 1992-04-13 | 1993-10-14 | Dale B. Finfrock | Methode et dispositif pour la mise en commun et la repartition des dividendes tires d'obligations |
US5563783A (en) * | 1992-05-13 | 1996-10-08 | The Trustees Of Columbia University In The City Of New York | Method and system for securities pool allocation |
US5497317A (en) * | 1993-12-28 | 1996-03-05 | Thomson Trading Services, Inc. | Device and method for improving the speed and reliability of security trade settlements |
US5592375A (en) * | 1994-03-11 | 1997-01-07 | Eagleview, Inc. | Computer-assisted system for interactively brokering goods or services between buyers and sellers |
US5809483A (en) * | 1994-05-13 | 1998-09-15 | Broka; S. William | Online transaction processing system for bond trading |
US5806047A (en) * | 1995-09-25 | 1998-09-08 | Metlife Life Insurance Company | System for combined pool portfolio |
US6014643A (en) * | 1996-06-28 | 2000-01-11 | Minton; Vernon F. | Interactive securities trading system |
-
2000
- 2000-03-22 EP EP00918234A patent/EP1121648A4/fr not_active Ceased
- 2000-03-22 WO PCT/US2000/007561 patent/WO2000070506A1/fr active IP Right Grant
Non-Patent Citations (2)
Title |
---|
No Search * |
See also references of WO0070506A1 * |
Also Published As
Publication number | Publication date |
---|---|
WO2000070506A1 (fr) | 2000-11-23 |
EP1121648A1 (fr) | 2001-08-08 |
Similar Documents
Publication | Publication Date | Title |
---|---|---|
US7840480B2 (en) | Network-based trading system and method | |
US7133847B2 (en) | Electronic bartering system | |
US8229839B2 (en) | System for appraising a financial product | |
US7908199B2 (en) | System and method of responding to orders in a securities trading system | |
US20020016758A1 (en) | Method and apparatus for offering, pricing, and selling securities over a network | |
US20010027437A1 (en) | Risk management and risk transfer conduit system | |
US20020120555A1 (en) | System and method for physicals commodity trading | |
US20040024692A1 (en) | Counterparty credit risk system | |
US20130297484A1 (en) | Public Offering Risk Management | |
US10269068B1 (en) | System and method for matching users in a wireless communication system | |
EP1121648A1 (fr) | Systeme et procede d'echange de titres en reseau | |
AU2005201973B2 (en) | Network-based trading system and method | |
JP5204143B2 (ja) | 取引サーバ、取引プログラム及び取引支援方法 | |
JP4548704B2 (ja) | 取引サーバ、取引プログラム及び取引支援方法 | |
JP2004192624A5 (fr) |
Legal Events
Date | Code | Title | Description |
---|---|---|---|
PUAI | Public reference made under article 153(3) epc to a published international application that has entered the european phase |
Free format text: ORIGINAL CODE: 0009012 |
|
17P | Request for examination filed |
Effective date: 20010331 |
|
AK | Designated contracting states |
Kind code of ref document: A1 Designated state(s): AT BE CH CY DE DK ES FI FR GB GR IE IT LI LU MC NL PT SE |
|
AX | Request for extension of the european patent |
Free format text: AL;LT;LV;MK;RO;SI |
|
A4 | Supplementary search report drawn up and despatched |
Effective date: 20020529 |
|
AK | Designated contracting states |
Kind code of ref document: A4 Designated state(s): AT BE CH CY DE DK ES FI FR GB GR IE IT LI LU MC NL PT SE |
|
RIC1 | Information provided on ipc code assigned before grant |
Free format text: 7G 06F 17/30 A, 7G 06F 17/60 B |
|
RAP1 | Party data changed (applicant data changed or rights of an application transferred) |
Owner name: MIRAL KIM-E |
|
RIN1 | Information on inventor provided before grant (corrected) |
Inventor name: MIRAL KIM-E |
|
RAP1 | Party data changed (applicant data changed or rights of an application transferred) |
Owner name: S.F. IP PROPERTIES 35 LLC |
|
RIN1 | Information on inventor provided before grant (corrected) |
Inventor name: MIRAL, KIM-E. |
|
17Q | First examination report despatched |
Effective date: 20090209 |
|
REG | Reference to a national code |
Ref country code: DE Ref legal event code: R003 |
|
STAA | Information on the status of an ep patent application or granted ep patent |
Free format text: STATUS: THE APPLICATION HAS BEEN REFUSED |
|
18R | Application refused |
Effective date: 20140908 |