Financial instruments trading system and method

• US 20030144944A1
• Filed: 01/31/2002
• Published: 07/31/2003
• Est. Priority Date: 01/31/2002
• Status: Abandoned Application

• Current Assignee: OptionsXpress Holdings Incorporated (Charles Schwab Corporation)
• Original Assignee: OptionsXpress Holdings Incorporated (Charles Schwab Corporation)
• Inventors: Kalt, David Samuels, Bennett, Ned Wesley
• Application Number:
  US10/062,590
• Publication Number:
  US 20030144944A1
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

The present invention is directed to a system and method by which the recommendations of a third party advisor chosen by an investor and with whom an investor has entered into a separate relationship can be matched with conditional trading criteria chosen by the investor. In a process for structuring such a trading system, when a matching correspondence occurs between the criteria specified in trades recommended by an advisory service and conditions chosen by the individual investor, the combined set of matching criteria then becomes the basis to initiate a formal trading order for the financial securities so defined. The trading order so generated may additionally include specified criteria not pre-defined by the investor, such as for example timing instructions that can be designated without prescription from the investor.

Claims

1. A system for conducting managed trading in financial securities, said system including:

means for receiving and storing information from advisory service providers;

means for distributing said information to individuals;

said information including criteria describing the financial securities to be traded;

means for receiving and storing selection information from said individuals where said selection information includes criteria describing conditional trading orders;

processing means for comparing the criteria describing the financial securities to be traded against the criteria describing the conditional trading orders to determine instances of partial or identical correspondence; and

means for execution of a trading order for a purchase or sale of financial securities where such trading order includes one or more of the aforementioned criteria.

2. The managed trading system of claim 1, wherein the financial securities are stocks, bonds, stock options, bond options, commodities futures, commodities future options, index futures, index futures options, mutual funds, currencies, or metals.

3. A system for conducting managed trading in collectible items, said system including:

means for receiving and storing information from advisory service providers;

means for distributing said information;

said information including criteria describing the items;

means for receiving and storing selection information from individuals where the selection information includes criteria describing conditional trading orders;

processing means for comparing the criteria describing the items to be traded against the criteria describing the conditional trading orders to determine instances of partial or identical correspondence; and

means for execution of a trading order for a purchase or sale of items where such trading order includes one or more of the aforementioned criteria.

4. An improved method to facilitate managed trading of collectible items, where an individual designates conditional criteria for trading such items, where a service provider designates certain recommended trading criteria, and where a system operator monitors trading activity between buyers and sellers, the method comprising the steps of:

a) recording and storing sets of conditional trading criteria designated by individuals;

b) recording and storing sets of recommended trading criteria designated by service providers;

c) comparing the criteria contained in said sets of recommended and conditional trading criteria;

d) identifying instances of partial or identical correspondence between sets of criteria so compared; and

e) generating a trading order, where such trading order includes one or more of the aforementioned criteria.

5. The managed trading system of claim 4, wherein the traded items are:

coins, stamps, books, objects of fine art and craftsmanship, collectible items having historical significance, or other items of collectible value.

6. The managed trading method of claim 5, wherein the traded items are:

coins, stamps, books, objects of fine art and craftsmanship, collectible items having historical significance, or other items of collectible value.