System and method for implementing push technology in a wireless financial transaction

• US 10,217,164 B2
• Filed: 05/12/2017
• Issued: 02/26/2019
• Est. Priority Date: 11/08/2004
• Status: Active Grant

• Current Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Original Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Inventors: Mylet, Darrin Michael, Amaitis, Lee M.
• Primary Examiner(s): Chang, Edward
• Application Number:
  US15/594,025
• Publication Number:
  US 20170316503A1
• Time in Patent Office: 655 Days
• Field of Search: 705 35, 705 37
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method for executing a trade is provided that includes communicating financial information to a handheld device via a network, the financial information being associated with a trade that can be initiated by the handheld device. The handheld device is connected to the network via a Push to Trade™ protocol. The method also includes executing the trade on behalf of the end user.

Claims

1. A method comprising:

communicating, by at least one processor, information on an item to a device via a network;

detecting, by the at least one processor, a selection of a button on the device;

in response to detecting the selection of the button on the device, establishing, by the at least one processor, a connection between the device and another electronic device;

determining, by the at least one processor, whether a location of the device is within an area approved for submitting one or more bids and/or offers for an item using at least one of geo-fencing, global positioning satellite technology, triangulation, a geographic map, and a sensor positioned on the device;

based at least in part on determining that the location of the device is within an approved area, enabling, by the at least one processor, the device to submit voice data indicative of one or more bids and/or offers for the item based at least partially on a walkie-talkie protocol; and

transmitting, by the at least one processor, a first portion of financial data over a private network and a second portion of the financial data over the Internet.

2. The method of claim 1, further comprising:

authenticating, by the at least one processor, a submitted bid and/or offer using voice patterns or voice recognition.

3. The method of claim 1, further comprising storing a user profile comprising at least one of:

account information, a voice pattern, an asset position, and identification information.

4. The method of claim 1, further comprising authenticating, by the at least one processor, using at least one of a group of elements, the group including:

a) a telephone ID;

b) a system ID;

c) an application ID;

d) a user ID;

e) a picture ID; and

f) biometrics.

5. The method of claim 1, further comprising:

receiving, by the at least one processor, from the device, information related to a location of the device; and

determining, by the at least one processor, whether the location of the device is within an approved area or within an unapproved area based at least in part on the information received from the device.

6. The method of claim 1, further comprising recording, by the at least one processor, keystrokes entered at the device.

7. The method of claim 1, wherein the device is a selected one of a personal data assistant, a laptop, a mobile station, a personal computer (PC), and a table PC.

8. The method of claim 1, wherein the sensor is operable to detect movement of the device to a position external to an approved area.

9. The method of claim 8, wherein the sensor is a radio frequency identification sensor.

10. The method of claim 1, wherein the item comprises at least one of a financial instrument, a financial asset, and a physical asset.

11. An apparatus comprising:

a network interface;

at least one processor to;

communicate information on an item to a device via a network using the network interface;

detect a selection of a button on the device;

in response to detecting the selection of the button on the device, establish a connection with another electronic device;

determine whether a location of the device is within an area approved for submitting one or more bids and/or offers for an item using at least one of geo-fencing, global positioning satellite technology, triangulation, a geographic map, and a sensor positioned on the device; and

based at least in part on determining that the location of the device is within an approved area, enable the other device to submit voice data indicative of one or more bids and/or offers for the item based at least partially on a walkie-talkie protocol; and

transmit a first portion of financial data over a private network and a second portion of the financial data over the Internet.

12. The apparatus of claim 11, wherein the at least one processor is further configured to authenticate using voice recognition or voice patterns before enabling the device to submit bids and/or offers on the item.

13. The apparatus of claim 11, wherein the at least one processor is further configured to store a user profile comprising at least one of:

account information, a voice pattern, an asset position, and identification information.

14. The apparatus of claim 11, wherein before accepting one or more bids or offers for an item, the at least one processor is further configured to authenticate using at least one of a group of elements, the group including:

a) a telephone ID;

b) a system ID;

c) an application ID;

d) a user ID;

e) a picture ID; and

f) biometrics.

15. The apparatus of claim 11, wherein the at least one processor is further configured to:

receive, from the device, information related to a location of the device; and

determine whether the location of the device is within an approved area or within an unapproved area based at least in part on the information received from the device.

16. The apparatus of claim 11, wherein the device is a selected one of a personal data assistant, a laptop, a mobile station, a personal computer (PC), and a table PC.

17. The apparatus of claim 11, wherein the sensor is operable to detect movement of the device to a position external to an approved area.

18. The apparatus of claim 17, wherein the sensor is a radio frequency identification sensor.

19. The apparatus of claim 11, wherein the item comprises at least one of a financial instrument, a financial asset, and a physical asset.

20. The apparatus of claim 11, wherein the at least one processor is further configured to record keystrokes entered at the device.