Financial data processing system

• US 20110202447A1
• Filed: 04/22/2011
• Published: 08/18/2011
• Est. Priority Date: 10/14/2003
• Status: Active Grant

• Current Assignee: FTEN, Inc. (Nasdaq, Inc.)
• Original Assignee: FTEN, Inc. (Nasdaq, Inc.)
• Inventors: Prasad, A. M., Angle, Corby Drake, LaFever, Malcolm Gary, Kittelsen, Douglas Guy, Myerson, Ted Nathan
• Granted Patent: US 8,433,641 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• 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

Abstract

To process financial articles of trade, real time data is collected from a plurality of liquidity destinations in trading at least one of securities, commodities, options, futures and derivatives, the real time data including information on submitted transactions of financial articles of trade. The real time data collected from the plurality of liquidity destinations is aggregated. The real time data is streamed in a standardized form. User criteria are established to identify relevant portions of the streamed real time data. The streamed real time data is analyzed according to the user criteria. The analyzed real time data is consolidated into a computer data base.

Claims

1. A method of processing financial articles of trade, comprising:

collecting data from a plurality of liquidity destinations trading at least one financial article of trade, said data including information on submitted and completed transactions of financial articles of trade, wherein said data comprises disparate data of varying formats corresponding to associated liquidity destinations; and

from said data, identifying, using a computer, a transaction which a party is financially liable as one of a plurality of parties involved in affecting said identified transaction, wherein said financially liable party lacked prior knowledge of submission to one of said plurality of liquidity destinations because another party in said plurality of parties submitted said identified transaction to one of said plurality of liquidity destinations.

2. The method of claim 1, further comprising:

identifying using a computer relevant portions of said real time data comprising one or more transactions for which said party is financially liable and including said identified transaction;

comparing, using an analysis component of said computer, said relevant portions of said real time data against user defined criteria; and

identifying a situation when said relevant portions of said real time data matches said user defined criteria for purposes of performing risk management for said financially liable party.

3. The method of claim 1, further comprising:

aggregating said data collected from said plurality of liquidity destinations; and

normalizing said data that is collected and aggregated into a standardized form.

4. A system for processing financial articles of trade, comprising:

a collector configured to couple to and collect data from a plurality of liquidity destinations, said liquidity destinations for trading at least one of securities, commodities, options, futures and derivatives, said data including information on submitted and completed transactions of financial articles of trade, wherein said data comprises disparate data of varying formats corresponding to associated liquidity destinations;

an analysis component of a computer coupled to said collector and configured to identify a transaction from said data for which a party is financially liable as one of a plurality of parties involved in affecting said identified transaction, wherein said financially liable party lacked prior knowledge of submission of the identified transaction to one of said plurality of liquidity destinations because another party in said plurality of parties submitted said identified transaction to one of said plurality of liquidity destinations.

5. The system of claim 4, wherein said analysis component is configured to identify relevant portions of said data comprising one or more transactions for which said party is financially liable and including said identified transaction, to compare said relevant portions of said data against user defined criteria, and to identify a situation when said relevant portions of said data matches said user defined criteria for purposes of performing risk management for said financially liable party.

6. The system of claim 4, further comprising:

an aggregation component coupled to said collector and said analysis component programmed to aggregate said data collected from said plurality of liquidity destinations, normalize said data that is collected and aggregated into a standardized form, and stream said data in the standardized form for further processing by said analysis component.

7. A method of processing financial articles of trade, comprising:

collecting data from a plurality of liquidity destinations trading at least one financial article of trade, said data including information on submitted and completed transactions of financial articles of trade, wherein said data comprises disparate data of varying formats corresponding to associated liquidity destinations;

from said data, using a computer, identifying a transaction which a party is financially liable as one of a plurality of parties involved in affecting said identified transaction, wherein said financially liable party lacked prior knowledge of submission of the identified transaction to one of said plurality of liquidity destinations because another party in said plurality of parties submitted said identified transaction to one of said plurality of liquidity destinations;

establishing user defined criteria to define a situation;

setting a position for said financially liable party at a start of a trading period by considering overnight buying power and stock positions;

updating said position of said financially liable party based on said identified transaction; and

performing by said computer a risk calculation to determine if said position violates a risk parameter defining said situation.

8. The method of claim 7, further comprising:

identifying, using said computer, relevant portions of said data comprising one or more transactions for which said party is financially liable and including said identified transaction;

comparing, using an analysis component of said computer, said relevant portions of said data against said user defined criteria; and

identifying said situation when said relevant portions of said data matches said user defined criteria for purposes of performing risk management for said financially liable party.

9. A method of processing financial articles of trade, comprising:

collecting data from a plurality of liquidity destinations trading at least one financial article of trade, said data including information on submitted and completed transactions of financial articles of trade, wherein said data comprises disparate data of varying formats corresponding to associated liquidity destinations;

identifying using a computer relevant portions of said data comprising one or more transactions for which a party is financially liable;

comparing, using an analysis component of said computer, said relevant portions of said data against user-defined criteria;

based on said comparing, identifying, using a computer, a transaction for which a party is financially liable as one of a plurality of parties involved in affecting said identified transaction, wherein said financially liable party lacked prior knowledge of submission of the identified transaction to one of said plurality of liquidity destinations because another party in said plurality of parties submitted said identified transaction to one of said plurality of liquidity destinations; and

performing risk management for the financially liable party in response to the identified transaction.