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Financial consolidation and communication platform

  • US 6,513,019 B2
  • Filed: 02/16/1999
  • Issued: 01/28/2003
  • Est. Priority Date: 02/16/1999
  • Status: Expired due to Term
First Claim
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1. A computer-executable method of processing financial information substantially in real time, the method including the steps of:

  • (a) receiving incoming stochastic data records from any of a plurality of disparate systems relating to any of;

    (i) financial transactions, (ii) financial instruments, (iii) financial institutions, (iv) customers, and (v) financial transaction counterparties;

    (b) converting the incoming stochastic data records into a common data format substantially in real time;

    (c) consolidating the converted stochastic data records by storing the data records on a consolidated database in conformance with a predefined industry standard;

    (d) receiving data inquiries from at least one of;

    (i) customers, (ii) financial institution representatives, and (iii) financial transaction counterparites, requesting information from the consolidated database; and

    (e) in response to the received data inquiry, providing real time access to the requested information from the consolidated database;

    wherein the consolidated database is coupled to a controller for controlling database access from any of a plurality of computer servers;

    wherein the controller is coupled to a plurality of computer serves including;

    (i) an accounting information server for processing messages that contain transactions, and for deriving positions, lots and balances on a trade date and settlement date accrual accounting basis;

    (ii) a market data information server that process messages that contain data records from any of a plurality of disparate market data sources; and

    wherein the controller is coupled to;

    (i) a calculation server for performing financial calculations including gain/loss and financial valuations;

    (ii) an alert notification server that alerts users when a financial threshold specifying at least one of a credit limit and a trading limit has been crossed;

    (iii) a data distribution server for electronically distributing data to users on a recurring and/or periodic basis; and

    (iv) a search engine server for providing free-form seraches against information stored in the consolidated database.

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