Internet based secure virtual exchange and distributed relational database for cross border trading of securities
First Claim
1. A method for automating trade settlements, comprising:
- providing a host system or systems with a distributed relational database accessible and updateable by more than one party to a cross border transaction;
caching a client'"'"'s standing settlement instructions in a client profile in the distributed relational database;
monitoring messages of a selected trade settlement client; and
assigning a unique transaction identifier of a trade settlement for messages that include an execution file or a settlement of a trade.
1 Assignment
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Accused Products
Abstract
A method and system provides an Internet based secure virtual exchange and distributed relational database for cross border security transactions. The method and system reduce the number of times a cross border security transaction is ‘touched’, reduce the number of failed cross border security transactions, reduce the fees paid by global custodians for cross border security transactions, provide a generic network of subcustodians organized around an Internet based secure virtual exchange with a distributed relational database, provide online matching, clearing, execution and settlement of online trades, provide global trading support platforms and information sources to support cross border security transactions, coordinating and recording all SWIFT messages associated with a single cross border trade. The distributed relational database can be utilized for execution, trade settlements, and corporate action events processing and is accessed through common browsers by asset managers, broker dealers, global custodians, and subcustodians.
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Citations
27 Claims
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1. A method for automating trade settlements, comprising:
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providing a host system or systems with a distributed relational database accessible and updateable by more than one party to a cross border transaction;
caching a client'"'"'s standing settlement instructions in a client profile in the distributed relational database;
monitoring messages of a selected trade settlement client; and
assigning a unique transaction identifier of a trade settlement for messages that include an execution file or a settlement of a trade. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method for automating trade settlements, comprising:
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providing a host system with a distributed relational database accessible and updateable by more than one party to a cross border transaction;
receiving a copy of an execution file from a broker dealer to a global custodian;
assigning a unique logical transaction number to a settlement detailed in the execution file;
examining a profile database of the global custodian for the standing instructions from asset managers originating the trade;
monitoring traffic at the global custodian;
matching messages to the logical transaction process based upon content, their implicit relationship to the settlement detailed in the execution file, and the global custodian'"'"'s standing instructions;
updating the settlement in the workflow database, indicating the state of the settlement;
firing any conditional workflow related triggers related to time/content, based upon the global custodian'"'"'s profile database entry;
allowing the global custodian to interrogate the workflow database to determine the current state of the settlement transaction.
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10. A method for automating corporate action information process, comprising:
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providing a host system with a distributed relational database accessible and updateable by more than one party to a cross border transaction;
receiving information from an issuers agent and prospective investors at the host system; and
distributing the received information to issue holders. - View Dependent Claims (13)
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11. A method for automating a corporate action process, comprising:
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providing a host system with a distributed relational database accessible and updateable by more than one party to a cross border transaction;
receiving an issue holder'"'"'s position and entitlement information from an issuer'"'"'s agent and at least one stock exchange or a stock depository at the host system; and
simultaneously sending the issue holder'"'"'s position and entitlement information to all participants in a reconciliation process. - View Dependent Claims (12, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 27)
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14. A system for automating cross border transactions, comprising:
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a host system with a distributed relational database accessible and updateable by more than one party to a cross border transaction;
at least one global custodian network coupled to the host system; and
at least one sub-custodian coupled to the host system and the global custodian network.
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25. A method of improving bank to bank instructions between financial institutions, comprising:
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providing a host system with a distributed relational database accessible and updateable by more than one financial institution; and
transmitting messages between financial institutions for payments, foreign exchange, executions, settlements, or corporate actions providing knowledge of the content and context of the messages as they are sent and received, and identifying their relationship to a single trade or corporate actions event.
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26. A method for centralizing information required to settle a global cross border transaction, comprising:
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providing a host system with a distributed relational database accessible and updateable by more than one party to a cross border transaction;
creating audit trails for cross border transactions utilizing the host system.
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Specification