Systems and methods of conducting financial transactions

• US 7,882,011 B2
• Filed: 08/03/2004
• Issued: 02/01/2011
• Est. Priority Date: 10/31/2000
• Status: Expired due to Term

• Current Assignee: Integral Development Corp.
• Original Assignee: Integral Development Corp.
• Inventors: Sandhu, Harpal S., Doull, Ian, Liedberg, Brian
• Primary Examiner(s): PATEL, JAGDISH
• Application Number:
  US10/911,076
• Publication Number:
  US 20050075967A1
• Time in Patent Office: 2,373 Days
• Field of Search: 705/37, 705/26
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/08 Auctions
• 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

Abstract

Systems and methods of conducting financial transactions are disclosed. One method disclosed comprises receiving prices from a plurality of providers, updating a database of providers based at least in part on the received prices, and arranging the prices in the updated database of providers by arranging bid rates in a first order, arranging offer rates in a second order, and resolving a tie.

Claims

1. A computer-implemented method comprising:

receiving a user-defined preference status for each of a plurality of providers on a computer, the user-defined preference status based on a relative preference of a user for each of the plurality of providers;

receiving prices from the plurality of providers each of the received prices on the computer comprising a bid rate or an offer rate and further comprising an available volume of a financial instrument associated with each of the received prices;

generating a first list on the computer of the plurality of providers sorted in ascending order based on the received prices associated with the bid rates;

identifying from the generated first list a tie on the computer between a first provider associated with a first bid rate and a first user-defined preference status and a second provider associated with a second bid rate and a second user-defined preference status, wherein the first bid rate and the second bid rate are equal, and the first user-defined preference status is greater than the second user-defined preference status;

sorting the first list on the computer such that the first provider appears before the second provider.

generating a second list on the computer of the plurality of providers sorted in ascending order based on the received prices associated with the offer rates;

identifying from the generated second list a tie on the computer between a third provider associated with a first offer rate and a third user-defined preference status and a fourth provider associated with a second offer rate and a fourth user-defined preference status, wherein the first offer rate and the second offer rate are equal, and the third user-defined preference status is greater than the fourth user-defined preference status;

sorting the second list on the computer such that the third provider appears before the fourth provider;

causing the first list and the second list to be displayed on a display in communication with the computer.

2. The computer-implemented method according to claim 1, further comprising:

receiving a selection of a selected provider from the first list or the second list;

identifying a plurality of user-preferred providers providing a price equal to that provided by the selected provider; and

aggregating the available volume of the financial instrument provided for sale or required for purchase by the plurality of user-preferred providers.