Method and apparatus for enabling smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
DCFirst Claim
1. A computer implemented method using aggregation for enabling a user to create and trade a plurality of market tradable assets or liabilities as a single, customizable investment portfolio comprising:
- receiving trading data from the user including user identification and preference information;
specifying from the trading data a user customizable portfolio of a plurality of distinct market tradable assets or liabilities to be owned directly by the user;
receiving from the user an order to trade the specified user customizable portfolio as a whole;
determining, based on said order to trade, a plurality of distinct market tradable assets or liabilities to be transacted in a market for each of the distinct assets or liabilities in a plurality of transactions for the user;
aggregating the plurality of transactions for the user with a plurality of transactions for one or more other users over an applicable characteristic of the plurality of assets or liabilities, wherein said aggregating includes aggregating single shares, odd lots and/or fractional shares using a computer; and
executing one or more trades based on said aggregating to implement the order to trade the specified user customizable portfolio;
wherein the specified user customizable portfolio is owned directly by the user after said one or more trades.
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Abstract
A computer implemented method using aggregation for enabling a user to create and trade a plurality of market tradable assets or liabilities as a single, customizable investment portfolio. An embodiment of the invention includes determining, based on an order to trade a portfolio from a user, a plurality of distinct market tradable assets or liabilities to be transacted in a market for each of the distinct assets or liabilities in a plurality of transactions for the user, aggregating the plurality of transactions for the user with a plurality of transactions for one or more other users over an applicable characteristic of the plurality of assets or liabilities, wherein the aggregating includes aggregating single shares, odd lots and/or fractional shares using a computer, and executing one or more trades based on the aggregating to implement the order to trade the portfolio.
228 Citations
37 Claims
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1. A computer implemented method using aggregation for enabling a user to create and trade a plurality of market tradable assets or liabilities as a single, customizable investment portfolio comprising:
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receiving trading data from the user including user identification and preference information; specifying from the trading data a user customizable portfolio of a plurality of distinct market tradable assets or liabilities to be owned directly by the user; receiving from the user an order to trade the specified user customizable portfolio as a whole; determining, based on said order to trade, a plurality of distinct market tradable assets or liabilities to be transacted in a market for each of the distinct assets or liabilities in a plurality of transactions for the user; aggregating the plurality of transactions for the user with a plurality of transactions for one or more other users over an applicable characteristic of the plurality of assets or liabilities, wherein said aggregating includes aggregating single shares, odd lots and/or fractional shares using a computer; and executing one or more trades based on said aggregating to implement the order to trade the specified user customizable portfolio; wherein the specified user customizable portfolio is owned directly by the user after said one or more trades. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37)
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Specification