Dynamic account mapping system for computerized asset trading

• US 20060161497A1
• Filed: 12/23/2005
• Published: 07/20/2006
• Est. Priority Date: 12/23/2004
• Status: Active Grant

• Current Assignee: Refinitiv US Organization, LLC (Refinitiv US Holdings, Inc.)
• Original Assignee: FX Alliance (The Woodbridge Co. Ltd.)
• Inventors: Penney, Neill
• Granted Patent: US 7,634,438 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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
• CPC Class Codes: G06Q 40/10 Tax strategies
• CPC Class Codes: Y10S 707/99933 Query processing, i.e. searching
• CPC Class Codes: Y10S 707/99953 Recoverability

Abstract

Methods and apparatuses for processing orders in a computerized asset trading system when the order contains trading requirements for trading accounts that do not map to trading accounts recognized by the provider trading system. The invention books trading requirements associated with the unrecognized trading accounts against a default trading account set up for the customer by the provider, thereby allowing the order to be processed instead of rejected merely because one or more of the customer-specified trading accounts has not yet been approved by the provider. The invention also allows providers to specifically block customer trading accounts, and to dynamically create approved trading accounts as they are needed so that subsequent transactions involving the previously unapproved trading accounts will be executed without using the default trading account. The invention also rejects orders for customer trading accounts that have been specifically blocked by the provider.

Claims

1. A computer system for trading assets, comprising:

a customer interface which receives an order from a customer trading system, said order comprising a trading requirement for an approved customer trading account and a trading requirement for an unapproved customer trading account;

an account mapping database which determines whether there is a first correlation between said approved customer trading account and an approved provider trading account, and whether there is a second correlation between said unapproved customer trading account and a default provider trading account;

an account manager which is configured to supply a confirmation of said first and second correlations; and

a trading engine, coupled to said account manager, which executes said order responsive to said confirmation.

2. The computer system of claim 1, wherein said trading engine executes said order against said default provider trading account.

3. The computer system of claim 1, wherein said trading engine will reject said order if said account manager does not supply said confirmation.

4. The computer system of claim 1, wherein said account mapping database is further configured to determine whether said unapproved customer trading account is blocked.

5. The computer system of claim 4, wherein:

said account manager is further configured to supply a notice if said unapproved customer trading account is blocked; and

said trading engine will reject said order responsive to said notice.

6. The computer system of claim 1, further comprising:

a trading database;

wherein said trading engine stores a detail concerning said executed order in said trading database.

7. The computer system of claim 1, further comprising a provider interface for communication with a provider trading system.

8. The computer system of claim 7, wherein said account manager may be manipulated by a human operator, via said provider interface, to create a new approved provider trading account corresponding to said unapproved customer trading account.

9. The computer system of claim 7, wherein said trading engine is further configured to transmit a detail concerning said executed order to said provider trading system via said provider interface.

10. A computer system for trading assets, comprising:

a customer interface which receives an order from a customer trading system, said order comprising a trading requirement for an unapproved customer trading account;

an account mapping database which determines whether there is a correlation between said unapproved customer trading account and a default provider trading account;

an account manager which is configured to supply a confirmation for said correlation; and

a trading engine, coupled to said account manager, which executes said order responsive to said confirmation.

11. The computer system of claim 10, wherein said trading engine will reject said order if said account manager does not supply said confirmation.

12. The computer system of claim 10, wherein said trading engine is configured to execute said order against said default provider trading account.

13. The computer system of claim 10, wherein said account mapping database is further configured to determine whether said unapproved customer trading account is blocked.

14. The computer system of claim 13, wherein:

said account manager is further configured to supply a notice if said unapproved customer trading account is blocked; and

said trading engine will reject said order responsive to said notice.

15. The computer system of claim 10, further comprising a provider interface for communication with a provider trading system.

16. The computer system of claim 15, wherein said account manager may be manipulated by a human operator, via said provider interface, to create a new approved provider trading account corresponding to said unapproved customer trading account.

17. The computer system of claim 15, wherein said trading engine is further configured to transmit a detail concerning said executed order to said provider trading system via said provider interface.

18. A computer system for trading assets, comprising:

an account mapping database which stores a set of provider-approved customer trading accounts and a default customer trading account;

a customer interface which receives an order from a customer trading system, said order comprising a trading requirement for a customer-specified trading account;

an account manager, coupled said account mapping database, which determines whether there is a correlation between said customer-specified trading account and a provider-approved customer trading account in the set of provider-approved customer trading accounts; and

a trading engine, coupled to said account manager, which books said trading requirement against said provider-approved customer trading account if said correlation exists, and which books said trading requirement against said default customer trading account if said correlation does not exist.

19. The computer system of claim 18, wherein:

said account manager is further configured to supply a notice if said customer-specified trading account is blocked; and

said trading engine will reject said order responsive to said notice.

20. The computer system of claim 18, further comprising a provider interface for communication with a provider trading system.

21. The computer system of claim 20, wherein said account manager may be manipulated by a human operator, via said provider interface, to create a new provider-approved customer trading account corresponding to said customer-specified trading account.

22. A method for processing orders in a computerized asset trading system, comprising:

providing a customer interface for communication with a customer trading system;

providing a provider interface for communication with a provider trading system;

receiving an order from said customer trading system via said customer interface, said order comprising a first trading requirement for an approved customer trading account and a second trading requirement for an unapproved customer trading account;

providing an account mapping subsystem which determines whether there is a first correlation between said approved customer trading account and an approved provider trading account, and a second correlation between said unapproved customer trading account and a default provider trading account; and

providing a trading engine which books said first trading requirement against said approved provider trading account if said first correlation exists, and books said second trading requirement against said default provider trading account if said second correlation exists.

23. The method of claim 22, further comprising rejecting said order if said first correlation and said second correlation do not exist.

24. The method of claim 22, wherein:

said account mapping subsystem is configured to supply a notice if said unapproved customer trading account is blocked; and

said trading engine will reject said order responsive to said notice.

25. The method of claim 22, further comprising storing a detail concerning said order in a trade database.

26. The method of claim 22, further comprising sending a detail concerning said order to said provider trading system via said provider interface.

27. The method of claim 22, further comprising operating said account manager to create a new approved provider trading account corresponding to said unapproved customer trading account.

31. The method of claim 22, further comprising:

generating a notice if said customer-specified trading account is blocked; and

rejecting said order responsive to said notice.

28. A method for processing orders in a computerized asset trading system, comprising:

defining a set of provider-approved customer trading accounts for a provider trading system;

defining a default customer trading account for said provider trading system;

receiving an order from a customer trading system, said order comprising a trading requirement for a customer-specified trading account;

determining whether there is a correlation between said customer-specified trading account and a provider-approved customer trading account in the set;

booking said trading requirement against said provider-approved customer trading account if said correlation exists; and

booking said trading requirement against said default customer trading account if said correlation does not exist.

29. The method of claim 28, further comprising creating a new provider-approved customer trading account corresponding to said customer-specified trading account.

30. The method of claim 28, further comprising storing said set of provider-approved customer trading accounts and said default customer trading account in an account mapping database.