System and Method for the Automated Brokerage of Financial Instruments
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Abstract
Disclosed herein in a preferred embodiment is an automated financial instrument brokerage system wherein a front end layer interacts with customers to generate activity requests for an intermediate layer. The intermediate layer preferably processes the activity requests and places financial instrument orders on a financial market if appropriate. A backend layer preferably provides data to the intermediate layer for processing activity requests. Multiple heterogeneous front end customer applications may be supported by the same intermediate layer. Further, multiple backend layer applications may interact with the intermediate layer in a manner transparent to the front end layer. Further, scalability can be achieved be partitioning various tasks of the intermediate layer onto separate servers, and more preferably on separate redundant servers. Load balancers may then be used in the intermediate layer to provide distributed access to these servers. Also disclosed herein is a caching technique whereby turnaround time for processing activity requests can be reduced by reducing the number of times that the intermediate layer needs to interact with the backend layer.
133 Citations
90 Claims
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1-86. -86. (canceled)
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87. In an automated financial instrument brokerage system, a method of providing administrative control over financial instrument orders allowed by the system, the method comprising:
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providing a database in which order restrictions are stored; providing an interface configured to allow an administrator to control the restrictions that are stored in the database; processing an order activity request generated by an application in response to user input against the restrictions stored in the database to determine whether the order activity request is valid; and rejecting the order activity request if it is determined to be invalid. - View Dependent Claims (88, 89, 90)
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Specification