System and method for facilitating a wireless financial transaction
First Claim
Patent Images
1. An apparatus, comprising:
- at least one processor; and
at least one memory device electronically coupled to the at least one processor, wherein the memory device stores instructions which, when executed by the at least one processor, direct the at least one processor to;
determine that a location of a mobile device is within an approved trading area,wherein a user of the mobile device is permitted to execute trades of financial instruments via the mobile device when the mobile device is used by the user within approved trading areas,wherein the user is prohibited from executing trades of financial instruments via the mobile device when the mobile device is used by the user within unapproved trading areas, andwherein the apparatus is operable to communicate with the mobile device via a wireless communications network;
receive from the user via the mobile device, while the location of the mobile device is within the approved trading area, a request to execute a trade of a financial instrument; and
based at least in part on determining that the location of the mobile device is within the approved trading area, execute the trade of the financial instrument;
subsequent to determining that the location of the mobile device is within the approved trading area, determine that a location of the mobile device is within an unapproved trading area;
receive from the user via the mobile device, while the location of the mobile device is within the unapproved trading area, a request to execute another trade of the financial instrument; and
based at least in part on determining that the location of the mobile device is within the unapproved trading area, not execute the another trade of the financial instrument.
1 Assignment
0 Petitions
Accused Products
Abstract
A method for executing a wireless trade is provided that includes communicating with a handheld device via a wireless network and sending and receiving financial information to and from the handheld device. The financial information is associated with a trade that can be initiated by the handheld device. The method also includes authorizing the handheld device through location data, which is associated with a location of the handheld device, before executing the trade.
108 Citations
76 Claims
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1. An apparatus, comprising:
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at least one processor; and at least one memory device electronically coupled to the at least one processor, wherein the memory device stores instructions which, when executed by the at least one processor, direct the at least one processor to; determine that a location of a mobile device is within an approved trading area, wherein a user of the mobile device is permitted to execute trades of financial instruments via the mobile device when the mobile device is used by the user within approved trading areas, wherein the user is prohibited from executing trades of financial instruments via the mobile device when the mobile device is used by the user within unapproved trading areas, and wherein the apparatus is operable to communicate with the mobile device via a wireless communications network; receive from the user via the mobile device, while the location of the mobile device is within the approved trading area, a request to execute a trade of a financial instrument; and based at least in part on determining that the location of the mobile device is within the approved trading area, execute the trade of the financial instrument; subsequent to determining that the location of the mobile device is within the approved trading area, determine that a location of the mobile device is within an unapproved trading area; receive from the user via the mobile device, while the location of the mobile device is within the unapproved trading area, a request to execute another trade of the financial instrument; and based at least in part on determining that the location of the mobile device is within the unapproved trading area, not execute the another trade of the financial instrument. - 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)
determine that the user is authorized to execute trades of financial instruments; and wherein to execute the trade of the financial instrument further comprises to execute the trade based at least in part on determining that the user is authorized to execute trades of financial instruments.
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16. The apparatus of claim 1, wherein the financial instrument comprises at least one of:
a security, a fixed income security, a stock, a commodity, a derivative, and a futures contract.
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17. The apparatus of claim 1, wherein the mobile device is operable to determine that the mobile device moved from within the approved trading area to within the unapproved trading area;
- and wherein to determine that the location of the mobile device is within the unapproved trading area comprises making the determination based on the mobile device determining that the mobile device moved from within the approved trading area to within the unapproved trading area.
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18. The apparatus of claim 17, wherein the mobile device comprises a sensor operable to detect movement of the mobile device to a position external to the approved trading area, the position being within the unapproved trading area.
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19. The apparatus of claim 18, wherein the sensor comprises a radio frequency identification sensor.
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20. The apparatus of claim 17, wherein the mobile device is operable to use geo-fencing to determine that the mobile device moved from within the approved trading area to within the unapproved trading area.
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21. The apparatus of claim 1, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:
prior to executing the trade of the financial instrument cause a voice connection to be established with the user via the mobile device in order to confirm an identity of the user and to confirm that the user made the request to execute the trade of the financial instrument.
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22. The apparatus of claim 1, wherein to determine that the location of the mobile device is within the approved trading area comprises to receive from the mobile device an indication that the mobile device is within the approved trading area.
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23. The apparatus of claim 1, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:
communicate trading information to the mobile device.
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24. The apparatus of claim 23, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:
based at least in part on determining that the location of the mobile device is within the unapproved trading area, terminate communication of the trading information to the mobile device.
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25. The apparatus of claim 24, wherein the mobile device is operable to determine that the mobile device moved from within the approved trading area to within the unapproved trading area;
- and wherein to determine that the location of the mobile device is within the unapproved trading area comprises making the determination based on the mobile device determining that the mobile device moved from within the approved trading area to within the unapproved trading area.
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26. The apparatus of claim 25, wherein the mobile device comprises a radio frequency identification sensor operable to detect movement of the mobile device to a position external to the approved trading area, the position being within the unapproved trading area.
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27. The apparatus of claim 25, wherein the mobile device is operable to use geo-fencing to determine that the mobile device moved from within the approved trading area to within the unapproved trading area.
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28. The apparatus of claim 23, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:
based at least in part on determining that the location of the mobile device is within the unapproved trading area, suspend communication of the trading information to the mobile device.
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29. The apparatus of claim 28, wherein the instructions, when executed by the at least one processor, further direct the at least one processor to:
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subsequent to determining that the location of the mobile device is within the unapproved trading area, determine that a location of the mobile device is within another approved trading area; and based at least in part on determining that the location of the mobile device is within the another approved trading area, resume communication of the trading information to the mobile device.
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30. The apparatus of claim 28, wherein the mobile device is operable to determine that the mobile device moved from within the approved trading area to within the unapproved trading area;
- and wherein to determine that the location of the mobile device is within the unapproved trading area comprises making the determination based on the mobile device determining that the mobile device moved from within the approved trading area to within the unapproved trading area.
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31. The apparatus of claim 30, wherein the mobile device comprises a radio frequency identification sensor operable to detect movement of the mobile device to a position external to the approved trading area, the position being within the unapproved trading area.
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32. The apparatus of claim 30, wherein the mobile device is operable to use geo-fencing to determine that the mobile device moved from within the approved trading area to within the unapproved trading area.
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33. A method, comprising:
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determining, by at least one server, that a location of a mobile device is within an approved trading area, wherein a user of the mobile device is permitted to execute trades of financial instruments via the mobile device when the mobile device is used by the user within approved trading areas, wherein the user is prohibited from executing trades of financial instruments via the mobile device when the mobile device is used by the user within unapproved trading areas, and wherein the at least one server is communicating with the mobile device via a wireless communications network; receiving, by the at least one server, from the user via the mobile device, while the location of the mobile device is within the approved trading area, a request to execute a trade of a financial instrument; executing, by the at least one server, the trade of the financial instrument based at least in part on determining that the location of the mobile device is within the approved trading area; determining, by the at least one server, that a location of the mobile device is within an unapproved trading area subsequent to determining that the location of the mobile device is within the approved trading area; receiving, by the at least one server, from the user via the mobile device, while the location of the mobile device is within the unapproved trading area, a request to execute another trade of the financial instrument; and not executing, by the at least one server, the another trade of the financial instrument based at least in part on determining that the location of the mobile device is within the unapproved trading area. - View Dependent Claims (34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54)
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55. A non-transitory computer readable medium comprising instructions which, when executed by at least one server, direct the at least one server to:
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determine that a location of a mobile device is within an approved trading area, wherein a user of the mobile device is permitted to execute trades of financial instruments via the mobile device when the mobile device is used by the user within approved trading areas, wherein the user is prohibited from executing trades of financial instruments via the mobile device when the mobile device is used by the user within unapproved trading areas, and wherein the at least one server is operable to communicate with the mobile device via a wireless communications network; receive from the user via the mobile device, while the location of the mobile device is within the approved trading area, a request to execute a trade of a financial instrument; execute the trade of the financial instrument based at least in part on determining that the location of the mobile device is within the approved trading area; determine that a location of the mobile device is within an unapproved trading area subsequent to determining that the location of the mobile device is within the approved trading area; receive from the user via the mobile device, while the location of the mobile device is within the unapproved trading area, a request to execute another trade of the financial instrument; and not execute the another trade of the financial instrument based at least in part on determining that the location of the mobile device is within the unapproved trading area. - View Dependent Claims (56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76)
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Specification