Mutli-interface financial transaction system and method

• US 20020120546A1
• Filed: 12/18/2000
• Published: 08/29/2002
• Est. Priority Date: 12/18/2000
• Status: Abandoned Application

• Current Assignee: Onebond Com LLC
• Original Assignee: Onebond Com LLC
• Inventors: Zajac, Paul
• Application Number:
  US09/737,804
• Publication Number:
  US 20020120546A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system, and its components and processes, receive, manage and output data received from at least two IDBs and at least one financial instrument dealer. In accordance with the exemplary embodiments of the invention, a platform provides the user with a single user interface for viewing and executing trades on multiple Inter-dealer broker electronic trading systems.

Claims

1. A system providing an interface to financial instrument market data provided by at least two IDBs, the system comprising:

a client application that is configured to be deployed to a user'"'"'s workstation;

a system engine configured to receive information from the client application and including or supporting a graphical user interface configured to display financial instrument market data to the user, the system engine being to receive order data from the user to perform transactions with at least one of the two IDBs using the graphical user interface and configured to receive financial instrument market data contained in at least two data feeds provided by at least two IDBs, to enable consolidation of financial instrument market data that is specific to at least one financial instrument based on the data received from the at least two IDBs and to transmit order data from the user to at least one of the two IDBs.

2. The system of claim 1, wherein each IDB provides a data feed to the at least one group of users that includes financial instrument identification data, price data and quantity data.

3. The system of claim 1, wherein the system manages and outputs financial instrument market data received from the at least two IDBs and receives data from the at least one user, the user'"'"'s data being related to the financial instrument market data from at least one of the two IDBS.

4. The system of claim 1, wherein installation and upgrades of the client application are performed by downloading client application software.

5. The system of claim 1, wherein the client application is platform independent.

6. The system of claim 1, further comprising a FIX engine coupled to the system engine and configured to provide connectivity between the multi-IDB interface system and at least one of the user'"'"'s transaction administration or management systems or applications.

7. The system of claim 1, wherein the graphical user interface is configured to display best prices in at least one financial instrument market on one screen based on the financial instrument market data provided by the at least two IDBs.

8. The system of claim 1, wherein the at least two IDBs each have at least one associated IDB feed and an API.

9. The system of claim 1, wherein the system engine consolidates bid and offer price and quantity data for at least one financial instrument based on the financial instrument market data provided by the at least two IDBs.

10. The system of claim 1, wherein the system engine resides on at least one server located at a user site and server side functionality is provided via a local area network at the user site to be accessible by the user work station using a client application that has been downloaded to the user work station.

11. The system of claim 1, wherein at least part of functionality associated with the client application is supported by processes run on the system engine.

12. The system of claim 11, wherein the system engine acts as an application service provider to provide the functionality supported by processes run on the system engine to the user.

13. The system of claim 12, wherein the functionality delivered by the system engine acting as an application service provider is delivered to the user via a private communication network.

14. The system of claim 12, wherein the functionality delivered by the system engine acting as an application service provider is delivered to the user via a public communication network.

15. The system of claim 12, wherein the functionality delivered by the system engine acting as an application service provider is delivered to the user via the Internet.

16. The system of claim 12, wherein the functionality delivered by the system engine acting as an application service provider is delivered to the user via an extranet.

17. The system of claim 12, wherein the functionality delivered by the system engine acting as an application service provider includes authentication and entitlement determinations.

18. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes consolidation of prices and sizes across a minimum of two IDBs.

19. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes separate display of bid and offer prices.

20. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes separate display of bid and offer sizes.

21. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes display of a consolidated IDB stack or stacks corresponding to particular IDBs.

22. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes hitting or lifting of current market information from at least one IDB.

23. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes transmission of orders from a user to a minimum of two IDBs.

24. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes cancellation of financial instrument orders.

25. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes providing receipt confirmations of executed trades to the user.

26. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes printing of order, trade, order cancellation and market reports.

27. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes issuance and processing of security certificates.

28. The system of claim 11, wherein the functionality delivered by the system engine acting as an application service provider includes support of programmable function keys used with the client application.

29. The system of claim 1, wherein the system engine manages connectivity to the IDBs and a system operated by the user.

30. The system of claim 29, wherein the system engine translates financial instrument market data from the at least two IDBs into a format that is readable by the multi-IDB interface system.

31. The system of claim 1, wherein the system engine is implemented as an application that coordinates the sorting and display of the financial instrument market data provided the at least two IDBs.

32. The system of claim 1, further comprising a persistence storage device coupled to the system engine and including a record of all orders, trades and a user service profile.

33. The system of claim 1, wherein the system engine operates to provide routing of orders data from the user to at least one IDB identified in the order data.

34. The system of claim 1, wherein the system engine manages an inventory of financial instruments market data that a user has subscribed to receive.

35. The system of claim 33, wherein the system engine identifies update information in the financial instrument market data received from the at least two IDBs and provides that update information to users who have subscribed to receive that update information.

36. The system of claim 1, further comprising a FIX engine coupled to the system engine and configured to support STP processing to at least one of the user'"'"'s transaction administration or management systems or applications.