Method and a system for settlement of trading accounts

• US 6,731,729 B2
• Filed: 11/29/2001
• Issued: 05/04/2004
• Est. Priority Date: 08/29/1997
• Status: Expired due to Fees

• Current Assignee: AIP Acquisition LLC
• Original Assignee: Arbinet-Thexchange Incorporated
• Inventors: Lemberg, Michael, Mashinsky, Alexander, Eng, Chi
• Primary Examiner(s): TIEU, BINH KIEN
• Application Number:
  US09/996,837
• Publication Number:
  US 20020101967A1
• Time in Patent Office: 887 Days
• Field of Search: 379/111, 379/112.01, 379/114.01, 379/114.16, 379/114.17, 379/114.2, 379/115.02, 379/121.03, 379/121.04, 379/121.06, 379/144.01, 379/144.06
• US Class Current: 379/121.03
• CPC Class Codes: H04M 15/00 Arrangements for metering, time-control or time indication ; Metering, charging or billing arrangements for voice wireline or wireless communications, e.g. VoIP
• CPC Class Codes: H04M 15/46 Real-time negotiation between users and providers or operators
• CPC Class Codes: H04M 15/49 Connection to several service providers
• CPC Class Codes: H04M 15/51 for resellers, retailers or service providers
• CPC Class Codes: H04M 15/8044 Least cost routing

Abstract

A method settling accounts of buyers and sellers of telecommunications services by an online exchange system includes storing data representing a financial account of at least one seller and at least one buyer, wherein the financial account includes at least one of accounts receivable and cash receipts. A service node receives an offer to sell the services from the at least one seller and requests to buy the services from the at least one buyer. The service node then matches the offer and requests in accordance with one or more parameters specified in the offers and requests. A route table is generated based on the routes specified in the matched offers and requests and a switch node is configured based on the route table. Fees are computed based on the usage of the matched routes and the financial accounts of the at least one seller and at least one buyer based on the computer fees.

Claims

1. A method of settling accounts of buyers and sellers of telecommunications services by an online exchange system, comprising the steps of:

storing data representing a financial account of at least one seller;

storing data representing a financial account of one or more buyers, the financial account comprising at least one of account receivable and cash receipt;

receiving by the server node offers to sell telecommunications services from the at least one seller of telecommunications services, each of the offers including one or more parameters specifying at least an origination point and a destination point of a route, and price information associated with the route;

receiving by the server node requests to buy telecommunications services from buyers of telecommunications services, each of the requests including one or more parameters specifying at least an origination point and a destination point of a route, and price information associated with the route;

matching by the server node the sellers'"'"' offers to the buyers'"'"' requests according to the one or more parameters specified in the sellers'"'"' offers and the buyers'"'"' requests;

generating a route table comprising the routes specified in the matched offers and requests;

configuring a switch node to route telecommunications traffic from the buyers based on the route table;

computing fees incurred by each of the buyers based on usage of the matched routes; and

adjusting respective financial accounts of the at least one seller and the buyers by an amount computed based on the buyers'"'"' usage of the matched routes.

2. The method of claim 1, further comprising the step of transmitting from the server node to a financial services node a pledge of an amount comprising at least one of the account receivables and cash receipts maintained by the server node for securing an advance payment from said financial services node of an amount sufficient for payment of said computed fees to the at least one seller.

3. The method of claim 2, further comprising the step of transmitting by the financial services node the advance payment to the server node.

4. The method of claim 1, wherein the computed amount exceeds the balance of the financial account of the buyer.

5. The method of claim 4, further comprising the step of requesting the advance payment from the financial services node when the financial accounts of the one or more buyers fall below a credit limit.

6. The method of claim 1, wherein the server node is authorized to secure advance payment from the financial services node according to terms and conditions of a letter-of-credit agreement issued for a buyer.

7. The method of claim 6, further comprising the step of transmitting from the server node a request to the financial services node for an advance payment when the computed fees for one of the buyers exceeds the credit limit of the buyer.