State tracking system for a basket trading system

• US 20030101128A1
• Filed: 11/29/2001
• Published: 05/29/2003
• Est. Priority Date: 11/29/2001
• Status: Abandoned Application

• Current Assignee: U.N.X., Inc.
• Original Assignee: U.N.X., Inc.
• Inventors: Abernethy, William Randolph
• Application Number:
  US09/995,712
• Publication Number:
  US 20030101128A1
• 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

The present invention is a tracking system that includes an order tracking database that stores the status of orders as they are processed within a distributed order fulfillment system that has a number of order execution systems that fill all or part of each order. Each order goes through a number of different transaction stages and the result of each stage is reported as an event to the database. The events are transmitted as messages using an output queue in the order execution system and an event message queue in an event tracking service. The tracking service updates the database when events appear in the event queue. The message processing system operates independently of order processing allowing order processing to continue while the tracking service updates the database. The messages include the components of an asset record of a core system database. The status of any order within the distributed system can be obtained from the database. The system also includes execution confirmation and error tracking with corresponding centralization of this information.

Claims

1. A system, comprising:

a distributed order fulfillment system having two or more order execution services performing order processing for stock orders and producing confirmations of executions in the order processing; and

a tracking system having a centralized tracking database storing the confirmations regarding the orders, with the tracking system operating asynchronously and independently with respect to the order execution, the tracking system comprising;

a confirmation queue receiving the confirmations comprising an asset order identifier and a confirmation type; and

a tracking service processing the confirmation messages and updating the database; and

an interface system accessing the database to produce confirmation reports responsive to user requests.

2. A system, comprising:

a distributed order fulfillment system having two or more order execution services performing order processing for orders and producing tracking information for operations of the order processing; and

a tracking system having a tracking database storing the tracking information regarding the operations.

3. A system as recited in claim 2, wherein the tracking database is centralized and stores tracking information for all of the order execution services.

4. A system as recited in claim 2, wherein the tracking information comprises order processing event messages and the tracking system comprises:

an event queue receiving the event messages;

a tracking service processing the event messages; and

a tracking database storing order event information.

5. A system as recited in claim 4, further comprising a message processing system transmitting the event messages between the order execution services and the event queue.

6. A system as recited in claim 2, wherein the events comprise order events, confirmation events and error events with corresponding event messages.

7. A system as recited in claim 6, wherein execution messages comprise an asset order identifier and an event type.

8. A system as recited in claim 7, wherein the execution messages further comprise execution number, asset symbol, trading party, execution service identifier, execution price, commission, fee, execution time and settlement time.

9. A system as recited in claim 2, wherein tracking information comprises an asset order identifier and an event type.

10. A system as recited in claim 9, wherein the tracking information comprises a primary event key, an execution date, a settlement date, an asset price, an asset quantity, a contra party, an asset symbol, an execution service identifier, an order commission, a contra party reference identifier, an execution reference, an order fee and an order wave.

11. A system as recited in claim 2, wherein the tracking system further comprises an input access system allowing a user to access the tracking information.

12. A system as recited in claim 11, wherein the input access system comprises:

a tracking database storing the tracking information; and

a web server accessing the tracking information for a web browser tracking information request.

13. A system as recited in claim 2, wherein the tracking system operates independently of the order execution services.

14. A system as recited in claim 2, wherein order processing has a higher priority for processor time than tracking processing.

15. A system as recited in claim 2, wherein order processing and tracking event processing comprise transaction operations.

16. A system as recited in claim 2, wherein the orders comprise orders for stock.

17. A system, comprising:

a distributed order fulfillment system having two or more order execution services performing order processing for stock orders and producing order tracking information for operations of the order processing;

a tracking system having a centralized tracking database storing the tracking information regarding the orders, the tracking information comprising order, execution and error tracking information with the tracking system operating asynchronously and independently with respect to the order execution services and order processing having a higher priority for processor time than tracking processing, the tracking system comprising;

an event queue receiving tracking information event messages comprising an asset order identifier and an event type; and

a tracking service processing the event messages and updating the database; and

an interface system accessing the database to produce tracking reports responsive to user requests.

18. A process, comprising:

producing events messages for stock order processing events occurring in a distributed stock order processing system; and

storing the events in a centralized storage.

19. A process as recited in claim 18, wherein event processing is performed independently and with a lower priority than order processing.

20. A computer readable storage controlling a computer by producing event messages for stock order processing events occurring in a distributed stock order processing system and storing the events in a centralized storage.

21. A computer readable event tracking data structure controlling a computer having fields for an asset identifier and an event type.

22. A system, comprising:

a distributed order fulfillment system having two or more order execution services performing order processing for orders and producing order confirmation information for operations of the order processing; and

a tracking system having a centralized confirmation-tracking database storing the confirmation information regarding the orders.

23. A graphical user interface for stock share order event tracking comprising fields for an asset identifier and an event type.

24. A graphical user interface as recited in claim 23, further comprising fields for a wave number, a stock symbol, a share quantity, a price, a vendor, a vendor reference and an event time.

25. A method, comprising:

tracking stock order states in a distributed stock order fulfillment system; and

storing the states in a centralized database.

26. A method as recited in claim 25, wherein the states comprise one of an order event, a confirmation event and an error event.