METHOD AND SYSTEM FOR ADMINISTERING PRIME BROKERAGE
First Claim
1. A computer implemented method of effecting straight-through-processing of trades executed between one or more customers having one or more customer computer systems and one or more dealers having one or more dealer computer systems utilizing one or more prime brokers having one or more prime broker computer systems, the method comprising:
- generating a trade order;
receiving an indication from the at least one prime broker computer system that the trade order has been approved;
executing a block trade based on the trade order wherein the trade order includes a reference to the one or more prime brokers selected by the one or more customers and a pre-allocation of customer accounts;
storing one or more account information records associated with one or more settlement instruction sets in an account database;
storing a block trade record including details of the block trade;
generating an allocated trade record associated with the block trade record for each of the account allocations received from the at least one customer computer system;
receiving an indication from the at least one dealer computer system that the allocated trade records are confirmed;
enriching the allocated trade records by incorporating one of the settlement instruction sets into each of the allocated trade records.
3 Assignments
0 Petitions
Accused Products
Abstract
A Straight-Through-Processing (STP) trading platform provides a fully electronic and seamless solution to substantially all aspects of the trading cycle for fixed income instruments and other financial instruments. In an exemplary embodiment, one or more customers, one or more dealers and one or more prime brokers have access to computer software that facilitates trade order management, trade order generation, trade execution, trade allocation, allocation acknowledgement, trade confirmation, acquisition of settlement instructions, and the generation of progress reports based on specific metrics criteria. In said exemplary embodiment, the STP trading platform allows a prime broker to monitor and approve a trade where the STP trading platform includes software modules including at least an account management module and an electronic trading module to handle the various stages of executing a trade, confirming the trade, and facilitating settlement of the trade.
89 Citations
19 Claims
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1. A computer implemented method of effecting straight-through-processing of trades executed between one or more customers having one or more customer computer systems and one or more dealers having one or more dealer computer systems utilizing one or more prime brokers having one or more prime broker computer systems, the method comprising:
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generating a trade order; receiving an indication from the at least one prime broker computer system that the trade order has been approved; executing a block trade based on the trade order wherein the trade order includes a reference to the one or more prime brokers selected by the one or more customers and a pre-allocation of customer accounts; storing one or more account information records associated with one or more settlement instruction sets in an account database; storing a block trade record including details of the block trade; generating an allocated trade record associated with the block trade record for each of the account allocations received from the at least one customer computer system; receiving an indication from the at least one dealer computer system that the allocated trade records are confirmed; enriching the allocated trade records by incorporating one of the settlement instruction sets into each of the allocated trade records. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 13, 14)
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10. A computer implemented method of electronically effecting straight-through-processing of a trade between one or more dealers, one or more customers and one or more prime brokers comprising the steps of:
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receiving a first signal indicative of a trade request from the one or more customers to be executed utilizing the one or more prime brokers; receiving a second signal indicative of a trade order corresponding to said trade request; receiving a third signal indicative of an acceptance of the trade by the one or more customers; notifying the one or more prime brokers of the acceptance, and trade order; receiving a fourth signal indicative of an acceptance of the trade by the one or more prime brokers; executing a block trade based on the trade order wherein the trade order includes a reference to the one or more prime brokers selected by the one or more customers and a pre-allocation of customer accounts. - View Dependent Claims (11, 12, 15)
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16. A system for effecting straight-through-processing of a trade between a one or more dealers, one or more customers and one or more prime brokers, the system comprising:
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a trade execution system; one or more customer computer systems; one or more dealer computer systems; and one or more prime broker computer systems; wherein the one or more customer computer systems, one or more dealer computer systems and one or more prime broker computer systems each have software thereon for permitting communication of trading data through the trade execution system the trade execution system operative programming to; receive an inquiry for a trade from at least one of the customers directed to the one or more dealer computer systems; transmit said trade inquiry to said dealer computer systems and receive a trade price for the trade from at least one of said dealer computer systems; transmit said trade price to said at least one customer computer system; receive from said customer computer system an indication that said trade price is accepted and that the one or more prime brokers is to be a part of the trade; transmit said trade price to said one or more prime broker systems; receive from said prime broker system an indication that said trade price is accepted; executing a block trade based on the accepted trade price. - View Dependent Claims (17, 18, 19)
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Specification