Interactive synthesized speech quotation system for brokers

• US 4,942,616 A
• Filed: 09/09/1985
• Issued: 07/17/1990
• Est. Priority Date: 09/09/1985
• Status: Expired due to Fees

• Current Assignee: George C. Idzorek, Michael A. Franey, Thomas Linstroth
• Original Assignee: George C. Idzorek, Michael A. Franey, Thomas Linstroth
• Inventors: Franey, Michael A., Idzorek, George C., Linstroth, Thomas
• Primary Examiner(s): Harkcom, Gary V.
• Assistant Examiner(s): Merecki, John
• Application Number:
  US06/774,052
• Time in Patent Office: 1,772 Days
• Field of Search: 381/51-53, 364/513.5, 364/408, 379/88-89, 379/93, 379/95-97, 340/825.26, 340/825.27
• US Class Current: 705/36.00R
• 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

Abstract

Apparatus for use by a broker including a memory for holding a number of market prices each corresponding to a security or a commodity. A speech synthesizer provides that prices may be quoted to customers in a synthesized human voice. A telephone interface connects outside calls to a DTMF transceiver which is in turn connected to a programmed microprocessor unit so that a caller may key in instructions or information. Instructions for price quotations result in the price for the selected security or commodity being reported to the caller in a synthesized human voice. The apparatus is also capable of monitoring price triggers and reporting violations of price triggers by calling a predetermined telephone number and reporting the violation in a synthesized human voice. Also, price requests are logged and the unit is responsive to an instruction keyed in by a broker through his telephone to report the contents of the log over the telephone in a synthesized human voice.

Claims

1. A system for use by a broker at a broker'"'"'s workstation in his or her office to assist in quoting the prices of tradable instruments such as securities or commodities to customers, said prices available from a data link to an exchange where the tradable instruments are traded, said system comprising:

an outside telephone line servicing said office;

desk telephone handset means at said workstation;

quote retrieval means connected to said data link for obtaining prices of tradable instruments traded on said exchange;

telephone interface means connected to said telephone line for answering calls on said telephone line and for converting incoming signals on said telephone line to digital codes, said incoming signals inputted on the remote end of said telephone line;

signal generating means connected to said telephone line through said telephone interface means for generating communication signals on said telephone line;

indicator means located at said workstation and perceivable by said broker at said workstation for conveying information to said broker while said broker is at said workstation;

control means connected to receive said digital codes from said telephone interface means and for controlling said signal generating means, said indicator means and said quote retrieval means, whereby a caller can convey requests and information to said control means using said incoming signals, said control means including;

(i) price quoting means responsive to a particular sequence of said digital codes representing a request for a quote of the price of particular tradable instrument traded on said exchange for obtaining the price of said particular tradable instrument from said quote retrieval means and for causing said signal generating means to quote the requested tradable instrument price using said communication signals over said telephone line;

(ii) caller identifying means for obtaining the identification of a caller on said telephone line, said identification obtained from a sequence of said digital codes, and for causing an identification of said caller to be indicated by said indicator means so that it is perceivable by said broker while the caller is on said telephone line obtaining a quote of a price; and

(iii) switching means operable by said broker from said broker'"'"'s workstation for selectively connecting said telephone line to said desk telephone handset means whereby a broker can interrupt a call from a caller and speak with the caller in person.

2. A system according to claim 1 wherein said price quoting means includes means for causing said indicator means to indicate the tradable instrument for which a quote is requested.

3. A system according to claim 1 wherein said price quoting means includes local memory means operatively coupled to said quote retrieval means for storing said prices of tradable instruments obtained from said quote retrieval means and further wherein said stored prices in said local memory means are used by said price quoting means for causing said signal generating means to quote said requested tradable instrument price.

4. A system according to claim 1 wherein said quote retrieval means includes central memory means operatively coupled to said quote retrieval means for storing said prices of tradable instruments obtained by said quote retrieval means, and further wherein said price quoting means obtains the price of said particular tradable instrument from said central memory means in said quote retrieval means.

5. A system according to claim 1 wherein said control means further includes call transfer means for causing said switching means to switch said call through to said broker'"'"'s desk telephone handset means in response to a particular sequence of said digital codes representing a request from said caller to switch said call to said broker'"'"'s desk telephone handset means so that a caller can call through to said broker after having obtained a quote of a particular tradable instruments and so that said broker can decide whether or not to answer said call depending on who is indicated to be calling by said caller identifying means.

6. A system according to claim 1, 2, 3, 4 or 5 wherein said telephone line is automatically connected through to said broker'"'"'s workstation when called, and wherein said telephone line terminates at said broker'"'"'s workstation, whereby said telephone line is dedicated to said broker.

7. A system according to claim 1 wherein said incoming signals are dual tone multiple frequency (DTMF) tones generated by said caller.

8. A system according to claim 1 wherein said communication signals are a synthesized human voice.

9. A method for disseminating price quotations for tradable instruments such as securities or commodities to customers of a brokerage house which receives said price quotations over a data link to an exchange where said tradable instruments are traded, said brokerage house including at least one outside telephone line and a plurality of broker workstations each including at least one desk for a broker and a desk telephone, said method comprising the steps of:

(a) automatically answering a call on said outside telephone line and establishing a connection with a caller'"'"'s telephone;

(b) automatically requesting the caller to signal a caller identification code;

(c) automatically detecting said caller identification code signal to determine the caller'"'"'s identification;

(d) automatically requesting the caller to signal a request for a quote of a price for one of said tradable instruments;

(e) automatically detecting said price quote request signal to determine the tradable instrument for which the quote is requested;

(f) automatically obtaining the requested price quote from said price quotations received over said data link;

(g) automatically quoting the requested price to the caller with communication signals carried on said outside telephone line connected to said caller'"'"'s telephone;

(h) automatically indicating to said broker at said workstation during the course of said connection the identification of said caller as determined in step (c); and

(i) establishing communication between said broker and said caller during the course of said connection in response to the automatic identification of said caller to said broker.

10. A method according to claim 9 further wherein the identification of a tradable instrument for which a price is requested is also automatically indicated to said broker at said workstation during or immediately after the course of said connection.

11. A method according to claim 9 wherein said price quotations are stored in a local electronic memory located at said workstation and further wherein said stored prices are used to quote said requested tradable instrument price.

12. A method according to claim 9 wherein said price quotations are stored remotely from said workstation in said brokerage house and further wherein said requested price quote is obtained from said remote storage location.

13. A method according to claim 9 wherein said method further includes selectively transferring a call to said desk telephone in response to a particular signal by said caller whereby a caller can connect through to said desk telephone after having obtained a quote of a particular tradable instrument, and further wherein said broker can decide whether or not to accept said connected through call depending on who is indicated as calling.

14. A method according to claims 9, 10, 11, 12 or 13 wherein said telephone line is automatically connected through to said broker'"'"'s workstation when called, and wherein said outside telephone line terminates at said broker'"'"'s workstation, whereby said telephone line is dedicated to said broker.

15. A method according to claim 9 where said communication signal used to quote said price is a synthesized human voice directly understandable by a human.

16. A system for use by an individual at the individual'"'"'s workstation in his or her office to assist in providing information to persons calling said office, said information available from a data link to a remote database, said system comprising:

an outside telephone line servicing said office;

desk telephone handset means at said workstation;

information retrieval means connected to said data link for obtaining information from said database;

telephone interface means connected to said telephone line for answering calls on said telephone line and for converting incoming signals carried on said telephone line to digital codes, said incoming signals inputted on the remote end of said telephone line;

signal generating means connected to said telephone line through said telephone interface means for generating communication signals on said telephone line;

indicator means located at said workstation and perceivable by said individual at said workstation for conveying information to said individual while said individual is at said workstation;

control means connected to said signal generation means, said indicator means, said quote retrieval means and said telephone interface means to receive said digital codes, said control means including;

(i) information communication means responsive to a particular sequence of said digital codes representing a request for information from said database for obtaining the information from said information retrieval means and for causing said signal generating means to communicate the requested information using said communication signals over said telephone line;

(ii) caller identifying means for obtaining the identification of a caller on said telephone line, said identification obtained from a sequence of said digital codes, and for causing an identification of said caller to be indicated by said indicator means so that it is perceivable by said individual while the caller is on said telephone line obtaining said information; and

(iii) switching means operable by said individual from said individual'"'"'s workstation for selectively connecting said telephone line to said desk telephone handset means whereby an individual can interrupt a call from a caller and speak with the caller in person.

17. A system according to claim 16 wherein said information communication means includes means for causing said indicator means to indicate the information which has been requested.

18. A system according to claim 16 wherein said information communication means includes local memory means operatively coupled to said information retrieval means for storing said information obtained from said information retrieval means and further wherein said stored information in said local memory means is used by said information communication means for causing said signal generating means to quote said requested tradable instrument price.

19. A system according to claim 16 wherein said information retrieval means includes central memory means operatively coupled to said information communications means for storing said information obtained by said information retrieval means, and further wherein said information communication means obtains said information requested by the caller from said central memory means.

20. A system according to claim 16 wherein said control means further includes call transfer means for switching said call through to said broker'"'"'s desk telephone handset means in response to a particular sequence of said digital codes representing a request from said caller to switch said call to said individual'"'"'s desk telephone handset means so that a caller can call through to said individual after having obtained information and to that said individual can decide whether or not to answer said call depending on who is indicated to be call by said caller identifying means.

21. A system according to claims 16, 17, 18, 19 or 20 wherein said telephone line is automatically connected through to said individual'"'"'s workstation when called, and wherein said telephone line terminates at said individual'"'"'s workstation, whereby said telephone line is dedicated to said individual.

22. A system according to claim 16 wherein said incoming signals are dual tone multiple frequency (DTMF) tones generated by said caller.

23. A system according to claim 16 wherein said communication signals are a synthesized human voice.

24. A method for disseminating information from a location which receives said information over a data link to a remote database, said location including at least one outside telephone line and at least one workstation including at least one desk for an individual to work at, said method comprising the steps of:

(a) automatically answering a call on said outside telephone line and establishing a connection with the caller'"'"'s telephone;

(b) automatically requesting the caller to signal an identification code;

(c) automatically detecting said caller identification code signal to determine the caller'"'"'s identification;

(d) automatically requesting the caller to signal a request for information from said database;

(e) automatically detecting said information request signal to determine the information requested;

(f) automatically obtaining the requested information from said information received over said data link;

(g) automatically communicating the requested information to the caller with communication signals carried on said outside telephone line connected to said caller'"'"'s telephone;

(h) automatically indicating to said individual at said workstation sometime during the course of said connection the identification of said caller as determined in step (c); and

(i) establishing communication between said individual and said caller during the course of said connection in response to the automatic identification of said caller to said individual.

25. A method according to claim 24 further wherein the information requested is also automatically indicated to said individual at said workstation during or immediately after the course of said connection.

26. A method according to claim 24 wherein said information is stored in a local electronic memory located at said workstation and further wherein said stored information is used to obtain the requested information to communicate to the caller.

27. A method according to claim 24 wherein said information is stored remotely from said workstation in said location and further wherein said information is obtained from said remote storage location.

28. A method according to claim 24 wherein said method further includes selectively transferring a call to said desk telephone in response to a particular signal by said caller whereby a caller can connect through to said desk telephone after having obtained information, and further wherein said individual can decide whether or not to accept said call connected through to said desk telephone depending on who is calling as perceived from said indicator means.

29. A method according to claims 24, 25, 26, 27 or 28 wherein said telephone line is automatically connected through to said individual'"'"'s workstation when called, and wherein said telephone line terminates at said individual'"'"'s workstation, whereby said telephone line is dedicated to said individual.

30. A method according to claim 24 where said communication signal used to communicate said information is a synthesized human voice directly understandable by a human.

31. A system for use by a broker at a broker'"'"'s workstation in his or her office to assist in quoting the prices of tradable instruments such as securities or commodities to customers, said prices available from a data link to an exchange where the tradable instruments are traded, said system comprising:

as outside telephone line servicing said broker'"'"'s workstation;

database means located in said office for storing prices of tradable instruments, said database means including means for connecting it to said data link for obtaining the prices of tradable instruments traded on said exchange;

quote retrieval terminal means located at said workstation and connected to said database means and manually operable by said broker for obtaining prices of tradable instruments from said database means whereby said broker can obtain quotes of said prices of said tradable instruments;

quote retrieval terminal emulation means located at said workstation, said emulation means including;

(a) telephone interface means connected to said telephone line for answering calls on said telephone line and for converting incoming signals carried on said telephone line to digital codes, said incoming signals inputted on the remote end of said telephone line;

(b) signal generating means connected to said telephone line through said telephone interface means for generating communication signals on said telephone line; and

(c) control means connected to said control database, said signal generating means, and said telephone interface means to receive said digital codes, said control means including price quoting means responsive to a particular sequence of said digital codes representing a request by a caller for a quote of the price of a particular tradable instrument for obtaining the price of said particular tradable instrument from said central database means and for causing said signal generating means to quote the requested tradable instrument price using said communication signals over said telephone line.

32. A system according to claim 31 wherein said incoming signals are dual tone multiple frequency (DTMF) tones generated by said caller.