System with methodology for improved transmission of financial information

• US 20030167223A1
• Filed: 05/15/2002
• Published: 09/04/2003
• Est. Priority Date: 03/01/2002
• Status: Abandoned Application

• Current Assignee: Sybase Incorporated (SAP SE)
• Original Assignee: Financial Fusion Incorporated A Wholly-Owned Subsidiary of Sybase Incorporated
• Inventors: Pledereder, Richard, Chun, Lyall, Smith, Debra
• Application Number:
  US10/147,394
• Publication Number:
  US 20030167223A1
• 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: H04L 69/08 Protocols for interworking; Protocol conversion
• CPC Class Codes: H04L 69/085 specially adapted for interworking of IP-based networks with other networks

Abstract

A system providing methods for transmission of messages conforming to a financial protocol, such as the Financial Information Exchange (FIX) protocol, which requires a particular message sequencing is described. When one or more messages are received for transmission over a communication channel which does not itself provide support for such message sequencing (e.g., SWIFTNet), an identifier is assigned to each message. This identifier is based upon a particular session and a message sequence number within this session. The message is then transmitted over the communication channel. Upon receipt, the message is placed in sequence to provide the particular message sequencing required by the financial protocol. Proper sequencing is based upon the identifier assigned to each message. The same methodology may be used for transmission of multiple messages from a plurality of sessions over one or more communication channels. Methods for splitting messages between multiple communication channels are also described.

Claims

1. A method for transmission of messages conforming to a financial protocol, said financial protocol specifying a particular message sequencing, the method comprising:

receiving at least one of said messages for transmission over a communication channel, said communication channel without support for itself ensuring said particular message sequencing;

assigning an identifier to each said message, said identifier based upon a particular session and a sequence number within said particular session;

transmitting each said message and each said identifier over said communication channel; and

upon receipt of each said message at its destination, placing each said message in sequence to provide said particular message sequencing, said sequence based upon said identifier assigned to each said message.

2. The method of claim 1, wherein said financial protocol includes the Financial Information Exchange (FIX) protocol.

3. The method of claim 1, wherein said communication channel includes the SWIFT network (SWIFTNet).

4. The method of claim 1, further comprising:

establishing a session for transmission of said messages from a first party to a second party over said communication channel.

5. The method of claim 4, wherein said step of assigning an identifier includes assigning said identifier based upon a session identifier of said session.

6. The method of claim 1, further comprising:

establishing a plurality of sessions for transmission of said messages from a first party to at least one second party over said communication channel.

7. The method of claim 1, wherein said step of assigning an identifier includes assigning said identifier based upon a particular session between a first party and a particular second party.

8. The method of claim 1, wherein said step of transmitting each said message includes converting said message into a format appropriate for transmission over said communication channel;

9. The method of claim 8, wherein said step of converting said message into a format appropriate for transmission includes the substeps of:

encoding said message; and

bundling said encoded message in a transmission wrapper;

10. The method of claim 9, wherein said substep of encoding said message includes using base-64 encoding.

11. The method of claim 9, wherein said substep of bundling said encoded message in a transmission wrapper includes using an Extensible Markup Language (XML) transmission wrapper.

12. The method of claim 1, further comprising:

upon receipt of said encoded message at a destination, extracting an encoded message from a transmission wrapper and decoding said encoded message.

13. The method of claim 1, wherein said step of placing each said message in sequence includes the substeps of:

maintaining an ordered delivery queue; and

inserting each said message into said ordered delivery queue based upon said identifier assigned to each said message.

14. The method of claim 1, wherein said step of placing each said message in sequence includes the substeps of:

if a particular message is next in sequence, processing said message; and

if a particular message is out of sequence, placing said message in a queue for processing.

15. The method of claim 1, wherein said step of placing each said message in sequence includes generating a request to resend messages in the event of any gap in sequencing of said messages.

16. The method of claim 1, wherein said step of transmitting each said message includes verifying that each said message was received at its destination.

17. The method of claim 1, further comprising:

selecting a communication channel for transmission of each said message from a plurality of available communication channels.

18. The method of claim 1, further comprising:

establishing a plurality of communication channels for transmission of said messages; and

selecting a communication channel for transmission of said messages from said plurality of communication channels.

19. The method of claim 17, wherein said step of placing each said message in sequence includes reassembling messages sent over a plurality of communication channels.

20. The method of claim 1, further comprising:

establishing a plurality of sessions between a first party and a second party for exchange of said messages; and

transmitting said messages from said plurality of sessions over a single communication channel.

34. The method of claim 1, further comprising:

establishing a plurality of sessions between a first party and at least one second party for exchange of said communication packages; and

sending communication packages from said plurality of sessions over a selected communication channel.

21. A method for sending of communication packages conforming to a particular messaging standard over a plurality of communication channels, said particular messaging standard requiring an ordered processing of said communication packages, the method comprising:

receiving at least one of said communication packages;

assigning a session identifier and a sequence number to each said communication package;

selecting a communication channel for transmission of each said communication package from a plurality of available communication channels;

sending each said communication package together with said session identifier and said sequence number over said selected communication channel;

upon receipt of each said communication package, processing each said communication package in said ordering required by said particular messaging standard based upon said session identifier and said sequence number.

22. The method of claim 21, wherein said financial protocol includes the Financial Information Exchange (FIX) protocol.

23. The method of claim 21, wherein said plurality of available communication channels includes the SWIFT network (SWIFTNet).

24. The method of claim 21, further comprising:

establishing at least one session between a first party and at least one second party for transmission of said communication packages.

25. The method of claim 24, wherein said step of assigning a sequence number includes assigning a sequence number based upon a particular session between said first party and a particular second party.

26. The method of claim 21, wherein said step of sending said communication package over said selected communication channel includes encoding said communication package.

27. The method of claim 26, wherein said step of encoding said communication package includes using base-64 encoding.

28. The method of claim 21, wherein said step of sending said communication package over said selected communication channel includes placing said communication package in a transmission envelope for transmission over said selected communication channel;

29. The method of claim 28, wherein said transmission envelope comprises an Extensible Markup Language (XML) transmission envelope.

30. The method of claim 21, wherein said step of processing each said communication package in said ordering required by said particular messaging standard includes processing a plurality of communication packages sent over a plurality of communications channels.

31. The method of claim 21, wherein said step of processing each said communication package in said ordering required by said particular messaging standard includes the substeps of:

maintaining an ordered queue; and

inserting each said communication package into said ordered queue based upon said session identifier and said sequence number.

32. The method of claim 21, wherein said step of processing each said communication package in said ordering required by said particular messaging standard includes the substeps of:

if a particular communication package is next in order, processing said particular communication package; and

if said particular communication package is out of order, placing said particular communication package in a queue for processing.

33. The method of claim 21, wherein said step of processing each said communication package in said ordering required by said particular messaging standard includes generating a request to resend communication packages in the event of any gap in said ordering of said communication packages.

35. A system for transmitting messages conforming to a session-based financial protocol from a plurality of sessions over a single network connection, the system comprising:

a listener module for accepting said messages conforming to a session-based financial protocol for transmission over a single network connection;

a dispatcher module for establishing a plurality of sessions for exchange of said messages, constructing a session identifier for each session and assigning a sequence number to each outgoing message within each session;

a sender module for transmitting said outgoing messages together with said session identifier and said sequence number over said single network connection; and

a receiver module for receiving incoming messages, placing each said incoming message in its session based upon said session identifier, and processing of each said incoming message in each session in sequence based upon said sequence number.

36. The system of claim 35, wherein said session-based financial protocol includes the Financial Information Exchange (FIX) protocol.

37. The system of claim 35, wherein said single network connection includes a SWIFT network (SWIFTNet) connection.

38. The system of claim 35, wherein said sender module encodes said outgoing messages for transmission.

39. The system of claim 38, wherein said dispatcher module encodes said outgoing messages using base-64 encoding.

40. The system of claim 35, wherein said sender module bundles said outgoing messages in transmission wrappers for transmission.

41. The system of claim 40, wherein said dispatcher module bundles said outgoing messages in Extensible Markup Language (XML) transmission wrappers.

42. The system of claim 35, wherein said receiving module extracts each said incoming message from a wrapper and decodes each said incoming message.

43. The system of claim 35, wherein said sending module implements a communication layering in which the bottom communication layer is SWIFTNet, the middle layer is a TCP/IP layer, and the top layer is FIX over TCP/IP.

44. The system of claim 35, wherein said receiver module processes said incoming messages in sequence by maintaining an ordered queue for each session and inserting each said incoming message into said ordered queue.