System and method for managing and executing event based investments
First Claim
1. A method of event-based investing comprising:
- establishing a portfolio of securities having a value that is expected to vary in accordance with possible outcomes of a specific event;
receiving buy orders and sell orders for units of the portfolio;
pooling the buy and sell orders of the portfolio to determine a net number of portfolio units to be bought or sold; and
initiating purchase or sale of a set of securities corresponding to the net number of portfolio units.
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Accused Products
Abstract
One aspect of the present invention is a method of event-based investing in which a portfolio of securities having a value that is expected to vary in accordance with possible outcomes of a specific event is established. Buy orders and sell orders for units of the portfolio are received. The buy and sell orders of the portfolio are pooled to determine a net number of portfolio units to be bought or sold, and then purchase or sale of a set of securities corresponding to the net number of portfolio units is initiated. Another aspect of the present invention is a server system for managing and executing event based investments. The server system includes first, second and third sets of servers, with communications to the second set of servers being guarded by a first firewall and communications to the third set of servers being guarded by a second firewall. The first set of servers exchange messages with client computers, including receiving buy orders and sell orders for units of a defined portfolio of securities. The second set of servers receive messages from the first set of servers and integrate database information with the messages from the first set of servers. The third set of servers performs financial transactions in accordance with the buy and sell orders.
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Citations
20 Claims
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1. A method of event-based investing comprising:
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establishing a portfolio of securities having a value that is expected to vary in accordance with possible outcomes of a specific event;
receiving buy orders and sell orders for units of the portfolio;
pooling the buy and sell orders of the portfolio to determine a net number of portfolio units to be bought or sold; and
initiating purchase or sale of a set of securities corresponding to the net number of portfolio units. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method of event-based investing comprising:
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establishing a plurality of portfolios of securities, each portfolio having a value that is expected to vary in accordance with possible outcomes of respective corresponding specific event;
wherein the securities in at least one of the portfolios overlaps with the securities in at least another one of the portfolios;
receiving buy orders and sell orders, each order specifying a number of units of one of the portfolios;
pooling the buy and sell orders of the portfolios to determine a net number of units of each of the portfolios to be bought or sold;
aggregating the securities to be bought and sold in accordance with the determined net number of units of the portfolios to be bought or sold so as to determine a respective net number of each of the securities to be bought and sold; and
initiating purchase or sale of the determined respective net numbers of the respective securities. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 19, 20)
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18. A server system, comprising
a first set of servers for exchanging messages with client computers, including receiving buy orders and sell orders for units of a defined portfolio of securities; -
a second set of servers for receiving messages from the first set of servers and for integrating dynamic database information with the messages from the first set of servers;
a first firewall for limiting access between said first set of servers and the second set of servers such that each server in the second set of servers can receive messages from only one corresponding server in the first set of servers;
a third set of servers for performing financial transactions in accordance with the buy and sell orders;
a second firewall for limiting access between the second set of servers and the third set of servers so as to permit the third set of servers to receive only predefined requests, and to receive the predefined requests only from the third set of servers.
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Specification