System and method for improved multiple real-time balancing and straight through processing of security transactions
First Claim
1. A balancing system use with the financial markets, said system comprising:
- a first booking interface for processing trade information received from clients;
a second booking interface for processing trade information received from external systems;
at least one database for storing and comparing information received by said first and second booking interfaces;
a processing interface for receiving said trade information from said first and second booking interfaces, logging said trade information into said database and validating said trade information;
wherein said processing interface compares said trade information from first booking interface to said trade information from said second booking interface;
wherein said validating includes identifying unmatched pairs of said trade information;
wherein said system provides an output identifying said unmatched pairs of said trade information; and
wherein said balancing system functions in real time.
0 Assignments
0 Petitions
Accused Products
Abstract
A method and system are provided for comparing data from several different sources in real time to determine inconsistencies between such data. The present invention further and alerts a user to such inconsistencies. The preferred embodiment of the present invention uses such a method and system for identifying exceptions in data from financial markets, brokers and customers to alert a financial institution immediately to inconsistent data with respect to orders, executions and allocations of trade information. In this way, this method and system saves valuable time in identifying such exceptions, thereby allowing a financial institution to correct such exceptions virtually immediately. The system and method described herein also assists a financial institution in complying with the T+3 trading cycle and makes a move to the T+1 trading cycle feasible.
193 Citations
46 Claims
-
1. A balancing system use with the financial markets, said system comprising:
-
a first booking interface for processing trade information received from clients;
a second booking interface for processing trade information received from external systems;
at least one database for storing and comparing information received by said first and second booking interfaces;
a processing interface for receiving said trade information from said first and second booking interfaces, logging said trade information into said database and validating said trade information;
wherein said processing interface compares said trade information from first booking interface to said trade information from said second booking interface;
wherein said validating includes identifying unmatched pairs of said trade information;
wherein said system provides an output identifying said unmatched pairs of said trade information; and
wherein said balancing system functions in real time. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
-
-
13. A system for balancing orders, executions and allocations associated with trading on the financial markets, said system comprising:
-
interfaces for receiving information from external sources;
balancing module for exchanging information with external interfaces;
at least one database for storing said information; and
a user interface to allow interaction with said system;
wherein said balancing module compares said information received from said database and said information received from said interfaces;
wherein said balancing module identifies incompatible information; and
wherein said system provides output through said user interface notifying a user of said incompatible information. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34)
-
-
35. A system for balancing orders, executions and allocations associated with trading on the financial markets, said system comprising:
-
client-side booking interface for processing trade information from clients;
clearance-side booking interface for processing trade information received from external systems;
at least one database for storing and information received by said client-side booking interface and said clearance-side booking interface;
trade processing framework for receiving said trade information from said client-side booking interface and said clearance-side booking interface, logging said trade information into said database and validating said trade information;
wherein said trade processing framework compares said trade information from said client-side booking interface to said trade information from said clearance-side booking interface;
wherein said validating includes identifying unmatched pairs of said trade information;
wherein said system provides an output identifying said unmatched pairs of said trade information; and
wherein said balancing system functions in real-time. - View Dependent Claims (36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46)
-
Specification