Graphical software tool for modeling financial products

• US 20050060252A1
• Filed: 10/30/2003
• Published: 03/17/2005
• Est. Priority Date: 09/11/2003
• Status: Abandoned Application

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Doddington, Andrew
• Application Number:
  US10/697,849
• Publication Number:
  US 20050060252A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A graphical software tool for modeling financial products is provided. The graphical software tool presents a user with a palette of tools for constructing a financial model. Preferably, the financial model is graphically represented as a tree structure, which allows the model to be transformed into an XML format. In general, a tree structure includes a root entity having a set of attributes, along with zero or more child entities. In turn, each of the child entities can have their own attributes and children. In response to an input from a user, objects from the palette are selected and used to construct the financial model. The tool provides a graphical user interface that allows users to construct financial products by combining a series of objects—using GUI techniques such as “drag and drop” to simplify the construction process. Although a number of objects are provided as standard, these may be combined to provide new functionality. Once this has been done, the result may be saved as an addition to the built-in set of objects. This allows users to build up increasingly complex tool sets, to match their individual requirements.

Claims

1. A method for modeling a financial product, comprising the steps of:

displaying a palette of objects for constructing a financial product;

displaying at least one window for graphically representing the financial product; and

selecting objects from the palette to construct the financial product.

2. The method of claim 1, wherein the graphical representation of the financial model is in the form of a tree structure.

3. The method of claim 2, wherein the tree structure corresponds to an XML document.

4. The method of claim 3, wherein an XML schema defines a valid structure for the XML document.

5. The method of claim 1, wherein selecting the objects from the palette includes dragging the objects from the palette to the window.

6. The method of claim 2, wherein the tree structure includes a hierarchy of entities.

7. The method of claim 6, further including displaying the attributes of an entity.

8. The method of claim 7, wherein displaying the attributes of a an entity includes displaying an attribute name and corresponding attribute values.

9. The method of claim 6, further including editing an entity using a data entry form.

10. The method of claim 6, further including providing a Factory entity.

11. The method of claim 6, further including providing a Watcher entity.

12. The method of claim 11, wherein the Watcher entity is a Logging Watcher entity.

13. The method of claim 11, wherein the Watcher entity is an Action Watcher entity.

14. A computer system for modeling a financial product, comprising:

a display device for displaying a palette of objects for constructing a financial product and a window for graphically representing the financial model;

an input device for selecting objects from the palette; and

a processor configured to construct the financial model using the selected objects.

15. The system of claim 14, wherein the graphical representation of the financial model is in the form of a tree structure.

16. The system of claim 15, wherein the tree structure corresponds to an XML document.

17. The system of claim 16, wherein an XML schema defines a valid structure for the XML document.

18. The system of claim 14, wherein the objects are selected by dragging the objects from the palette to the window.

19. The system of claim 15, wherein the tree structure includes a hierarchy of entities, each of the entities having at least one attribute name and a corresponding attribute value.

20. A program storage device readable by a machine, tangibly embodying a program of instructions executable on the machine to perform method steps for modeling a financial product, the method steps comprising:

displaying a palette of objects for constructing a financial product;

displaying at least one window for graphically representing the financial product; and

selecting objects from the palette to construct the financial product.