Transaction and account management system

• US 7,945,506 B2
• Filed: 11/13/2009
• Issued: 05/17/2011
• Est. Priority Date: 09/08/1999
• Status: Expired due to Fees

• Current Assignee: Teddy A. Demirjian
• Original Assignee: Teddy A. Demirjian
• Inventors: Demirjian, Teddy A.
• Primary Examiner(s): Colbert, Ella
• Assistant Examiner(s): GREENE, DANIEL LAWSON
• Application Number:
  US12/618,645
• Publication Number:
  US 20100063940A1
• Time in Patent Office: 550 Days
• Field of Search: 705/35, 705/36.R, 705/37
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

An information management system that consists of data, a rules database, and user profiles is provided. The rules database stores information about system responses to modifications of the data. The user profiles store information concerning the availability of information and displays depending upon the user. Automatic updates to user profiles in response to modifications to the data are performed.

Claims

1. An investment account management system configured to manage a plurality of client accounts, comprising:

a financial information database comprising financial information from a plurality of clients;

a user profile database comprising a user profile for each user of the system, wherein said user profile comprises access rights specifying the financial information available to the user, and a screen setting parameter indicating a customized display of how client financial data is viewed by the user in an Internet browser;

a host server comprising a presentation manager, wherein the presentation manager is linked to the user profile database and operative to modify user profiles so each user is presented with a customized display of client financial information when viewed in an Internet browser;

a data link to a custodian bank which provides online access to records of client holdings at the bank;

a business logic manager configured to read instructions from a database module, wherein the instructions comprise custom logic routines for each user, and the logic routines define whether the user is authorized to execute a trade and whether sufficient holdings are available at the custodian bank for the trade; and

a data exchange link with a broker/dealer system, wherein data representing the trade to be executed is formatted by the system in accordance with a user profile associated with each broker/dealer system and sent to the broker/dealer system for execution.

2. The system of claim 1, wherein the financial information comprises types of securities held by the clients.

3. The system of claim 1, wherein the user profile comprises information defining the functions that the user can perform and the display the user can view.

4. The system of claim 1 wherein the presentation manager is configured to read the screen setting parameters from a database.

5. The system of claim 1, wherein the business logic manager further determines if there are any limitations on how the trade must be executed by the broker/dealer.

6. The system of claim 1, wherein users of the system are portfolio managers, and wherein each portfolio manager is presented with a customized display in an Internet browser showing the client accounts of each portfolio manager.

7. The system of claim 1, wherein users of the system are traders, and wherein the business logic manager is programmed to instruct the traders how the trade can be best executed.

8. The system of claim 7, wherein the business logic manager is configured to read instructions that advise traders to place a particular trade with multiple broker/dealers.

9. The system of claim 7, wherein the business logic manager is configured to read instructions that advise traders to place a particular trade as a single block order.

10. The system of claim 1, further comprising a transaction manager configured to categorize requests from users of the system as requests to be sent to the business logic manager or the presentation manager.

11. The system of claim 1, further comprising a Site Manager, which is configured to allow the user to change the font and color settings for their display, wherein those settings are stored in the user profile.

12. A network based investment account management system configured to manage a plurality of client accounts, comprising:

a financial information database comprising financial information from a plurality of clients;

a user profile database comprising user profiles for portfolio managers and traders, wherein said user profiles comprise access rights specifying a subset of the client financial information available to the portfolio managers and traders, and a screen setting parameter indicating a customized display of how client financial data is viewed by the portfolio managers and traders in an Internet browser;

a host server comprising a presentation manager, wherein the presentation manager is linked to the user profile database and operative to modify user profiles so each portfolio manager and trader is presented with a customized display of client financial information when viewed in an Internet browser;

a data link to a custodian bank which provides online access to records of client holdings at the bank;

a business logic manager configured to read instructions from a database module, wherein the instructions comprise custom logic routines for each trader, and the logic routines define whether the trader is authorized to execute a trade and whether sufficient holdings are available at the custodian bank for the trade; and

a data exchange link with a broker/dealer system, wherein data representing the trade to be executed and any limitations on the trade are formatted by the system in accordance with a user profile associated with each broker/dealer system and sent to the broker/dealer system for execution.

13. The system of claim 12, wherein the financial information comprises types of securities held by the clients.

14. The system of claim 12, wherein the user profile comprises information defining the functions that the portfolio manager and trader can perform and the display settings used to create their view of client data.

15. The system of claim 12, wherein the presentation manager is configured to read the screen setting parameters from a database.

16. The system of claim 12, wherein the business logic manager further determines if there are any limitations on how the trade must be executed by the broker/dealer.

17. The system of claim 12, wherein each portfolio manager is presented with a customized display showing the client accounts of each portfolio manager in an Internet browser.

18. The system of claim 12, wherein the business logic manager is programmed to display advice instructing the traders how the trade can be best executed.

19. The system of claim 12, further comprising a transaction manager configured to categorize requests from users of the system as requests to be sent to the business logic manager or the presentation manager.