Transaction execution system interface and enterprise system architecture thereof

• US 7,415,715 B2
• Filed: 06/06/2003
• Issued: 08/19/2008
• Est. Priority Date: 01/26/1998
• Status: Expired due to Fees

• Current Assignee: Ebm/Ip, Llc
• Original Assignee: Simplexity LLC d/b/a Wirefly (Simplexity)
• Inventors: Khomykov, Igor, Iakovlev, Leonid, Trifel, Anatoliy, Meshkov, Andrew, Fradkov, Sergey
• Primary Examiner(s): Bullock, Jr., Lewis A.
• Assistant Examiner(s): To, Jennifer N
• Application Number:
  US10/455,692
• Publication Number:
  US 20040024610A1
• Time in Patent Office: 1,901 Days
• Field of Search: 719300-332, 718/1, 718100-108, 709200-253, 705/1, 705/9
• US Class Current: 719/328
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/16 Payments settled via telecommunication systems
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: H04L 67/02 based on web technology, e.g. hypertext transfer protocol [HTTP]
• CPC Class Codes: H04L 67/06 specially adapted for file transfer, e.g. file transfer protocol [FTP]
• CPC Class Codes: H04L 67/10 in which an application is distributed across nodes in the network software deployment G06F8/60; multiprogramming arrangements G06F9/46

Abstract

A system for interfacing at least one user interactive device with a trade execution system to execute trading transactions requested by users over a network includes an application in communication with the network for interfacing between the at least one user interactive device and the trade execution system and coordinating interaction of the at least one user interactive device with the trade execution system. The application contains first and second APIs. The first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system. The second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device. The first API includes at least one stub that is called by the application at a predefined step during processing of the trading transaction request. The at least one stub includes code to interface the application with the trade execution system.

Claims

1. A system for interfacing at least one user interactive device with a trade execution system to execute trading transactions requested by users over a network, comprising:

an application in communication with the network for interfacing between the at least one user interactive device and the trade execution system and coordinating interaction of the at least one user interactive device with the trade execution system;

wherein the application contains first and second APIs, wherein the first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system, and the second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device;

wherein the first API includes at least one stub that is called by the application at a predefined step during processing of the trading transaction request, the at least one stub including code to interface the application with the trade execution system.

2. A system as in claim 1 wherein the application comprises alert means for initiating and sending information relating to the trading transactions to the at least one user interactive device via a packet-switched wireless network independent of any request on demand from the user.

3. A system as in claim 2 wherein the trade execution system is a system which handles financial transaction.

4. A system as in claim 3 wherein the trade execution system is a system which handles trading of financial instruments.

5. A system as in claim 4 wherein the information relates to trading of the financial instruments.

6. A system as in claim 2 wherein the application further comprises confirmation means for sending the users, via the network, a confirmation that the trading transactions requested by the respective users has been completed.

7. A system as in claim 6 wherein the confirmation means includes configuration means that allows each user to select specific conduit for sending the confirmation and related information of the completed trading transactions to the respective users.

8. A system as in claim 7 wherein the application further comprises means for monitoring the trading transactions requested by the users and verifying integrity of the trading transactions and/or status of accounts of the users.

9. A system as in claim 1 wherein the trade execution system is an existing system, and wherein the application is configured to couple to such existing system to add the functionality of interfacing with the at least one user interactive device substantially without modification of the functionality of the existing system.

10. A system as in claim 9 wherein the application is configured such that the manner of user access to the trade execution system is indistinguishable to the trade execution system at a system level.

11. A system as in claim 1 wherein the application includes at least one API for integrating the functions of the application and the trading execution system without requiring significant modification to the trade execution system.

12. A system as in claim 1 wherein the application comprises:

a plurality of trade application servers;

at least one trade application coupled to each trade application server and to the trade execution system; and

a trade system manager coupled to the plurality of trade application servers, wherein the trade system manager is structured and configured to provide load balancing and high availability by routing user trading requests to the least busy trade application server.

13. A system as in claim 12 where the network comprises an IP network, and the trade system manager is structured and configured to connect unconnected information from various users received over the IP network into a single session.

14. A system as in claim 1 wherein the network includes a wireless network.

15. A system as in claim 14 wherein the wireless network is a digital packet-switched network.

16. A system as in claim 1 wherein the network includes a distributed network which operates on the TCP/IP protocol.

17. A system as in claim 16 wherein the distributed network is an IP network.

18. A system as in claim 1 wherein the user interactive devices are based on different operating platforms.

19. A system as in claim 18 wherein the trade execution system communicates with the user interactive devices in a device independent fashion.

20. A system for interfacing at least one user interactive device with a trade execution system to execute trading transactions requested by users over a network, comprising:

an application in communication with the network for interfacing between the at least one user interactive device and the trade execution system and coordinating interaction of the at least one user interactive device with the trade execution system;

wherein the trade execution system is an existing system, and wherein the application is configured to couple to such existing system to add the functionality of interfacing with wireless user interactive devices substantially without modification of the functionality of the existing system;

wherein the application contains first and second APIs, wherein the first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system, and the second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device;

wherein the first API includes at least one stub that is called by the application at a predefined step during processing of the trading transaction request, the at least one stub including code to interface the application with the trade execution system.

21. A system as in claim 20 wherein the application is configured such that the manner of access to the trade execution system by the at least one user interactive device is indistinguishable to the trade execution system at a system level.

22. A system for interfacing at least one user interactive device with a trade execution system to execute trading transactions requested by users over a network, comprising:

an add-on transaction system in communication with the trade execution system and the network, wherein the transaction system coordinates interaction of the at least one user interactive device the trade execution system;

wherein the add-on transaction system contains first and second APIs, wherein the first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system, and the second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device;

wherein the first API includes at least one stub that is called by the add-on transaction system at a predefined step during processing of the trading transaction request, the at least one stub including code to interface the add-on transaction system with the trade execution system.

23. A system as in claim 22 wherein the add-on transaction system interacts with the at least one user interactive device independent of the functions of the financial transaction execution system.

24. A system for interfacing at least one user interactive device with a trade execution system to execute trading transactions requested by users via an IP network, comprising:

a transaction system in communication with the trade execution system and the IP network, wherein the transaction system coordinates interaction of the at least one user interactive device with the trade execution system based on TCP/IP protocols;

wherein the transaction system contains first and second APIs, wherein the first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system, and the second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device;

wherein the first API includes at least one stub that is called by the transaction system at a predefined step during processing of the trading transaction request, the at least one stub including code to interface the transaction system with the trade execution system.

25. A system as in claim 24 further including a wireless network between the IP network and the at least one user interactive;

interfacing a transaction system between a trade execution system and a network;

coordinating, using the transaction system, interaction of the at least one user interactive device with the trade execution system;

wherein the transaction system contains first and second APIs, wherein the first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system, and the second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device;

wherein the first API includes at least one stub that is called by the transaction system at a predefined step during processing of the trading transaction request, the at least one stub including code to interface the transaction system with the trade execution system device.

26. A method for executing trading transactions requested by users using at least one user interactive device, comprising the steps of:

interfacing a transaction system between a trade execution system and a network; and

coordinating, using the transaction system, interaction of the at least one user interactive device with the trade execution system;

wherein the transaction system contains first and second APIs, wherein the first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system, and the second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device;

wherein the first API includes at least one stub that is called by the transaction system at a predefined step during processing of the trading transaction request, the at least one stub including code to interface the transaction system with the trade execution system.

27. A method as in claim 26 wherein the transaction system coordinates interaction with the user interactive devices independent of the functions of the trading execution system.

28. A method for providing a trading execution system with the functionality of interacting with at least one user interactive device via an IP network, comprising the steps of:

interfacing a transaction system between the at least one user interactive device and the trade execution system, wherein the transaction system coordinates interaction of the trade execution system with the at least one user interactive device based on TCP/IP protocol;

wherein the transaction system contains first and second APIs, wherein the first API is structured to deliver a trading transaction request received from the at least one user interactive device to the trade execution system, and the second API is structured to deliver real-time information relating to the trading transaction request received from the trade execution system to the at least one user interactive device;

wherein the first API includes at least one stub that is called by the transaction system at a predefined step during processing of the trading transaction request, the at least one stub including code to interface the transaction system with the trade execution system.