System and method for allocating nominal and cash amounts to trades in a netted trade
First Claim
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1. A computer-implemented method for allocating stock and cash amounts to trades, the method comprising:
- receiving a settlement message that applies to settlement of the trades, the settlement message identifying stock and cash amounts to be allocated to the trades;
identifying eligible trades that are eligible for allocation of the stock and cash amounts identified in the settlement message;
identifying trades in the eligible trades that are purchase trades;
identifying trades in the eligible trades that are sales trades;
sorting the purchase trades so that smaller purchase trades are before larger purchase trades;
allocating stock and cash amounts to the purchase trades as a group in sorted order;
sorting the sales trades so that smaller sales trades are before larger sales trades; and
allocating stock and cash amounts to the sales trades as a group in sorted order.
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Abstract
A system and method for allocating stock and cash amounts to individual trades in a netted trade. The system and method include bundling individual securities trades into a netted trade, transmitting the netted trade to a clearing house, receiving a settlement message from the clearing house, and allocating stock and cash amounts to individual trades in the netted trade in a manner consistent with the settlement message.
114 Citations
42 Claims
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1. A computer-implemented method for allocating stock and cash amounts to trades, the method comprising:
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receiving a settlement message that applies to settlement of the trades, the settlement message identifying stock and cash amounts to be allocated to the trades;
identifying eligible trades that are eligible for allocation of the stock and cash amounts identified in the settlement message;
identifying trades in the eligible trades that are purchase trades;
identifying trades in the eligible trades that are sales trades;
sorting the purchase trades so that smaller purchase trades are before larger purchase trades;
allocating stock and cash amounts to the purchase trades as a group in sorted order;
sorting the sales trades so that smaller sales trades are before larger sales trades; and
allocating stock and cash amounts to the sales trades as a group in sorted order. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A computer-implemented method for executing a plurality of trades, the method comprising:
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transmitting information regarding the plurality of trades;
receiving a settlement message that applies to settlement of the plurality of trades;
selecting eligible trades within the plurality of trades which are eligible for processing in accordance with the settlement message;
allocating stock and cash amounts to the eligible trades in a manner consistent with the settlement message, and posting the allocated stock and cash amounts to the trades within the plurality of trades in accordance with said allocation. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A processing system for allocating stock and cash amounts to trades, the system comprising:
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a storage component that stores instructions;
a communication device; and
a processing component communicatively connected to the storage device and communication device, the processing device programmed by the instructions to perform actions comprising;
transmitting information regarding the plurality of trades via the communication device;
receiving a settlement message from the communication device that applies to settlement of the plurality of trades;
selecting eligible trades within the plurality of trades which are eligible for processing in accordance with the settlement message;
allocating stock and cash amounts to the eligible trades in a manner consistent with the settlement message, and posting the allocated stock and cash amounts to the trades within the plurality of trades in accordance with said allocation. - View Dependent Claims (28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42)
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Specification