Electronic system and method for executing a trade
First Claim
1. An electronic method of executing a trade in a system configured to manage a plurality of client accounts, comprising:
- querying a user profile database to determine access rights for a user and to determine the display information that the user can view;
receiving trade instructions from the user to trade securities for one or more of the client accounts;
comparing the trade instructions to a rule set to determine whether the trade is a valid trade;
identifying one or more broker/dealers to execute the trade;
determining whether sufficient holdings for the trade are available at the one or more custodian banks for the trade; and
electronically sending the trade to the one or more broker/dealers for execution if sufficient holdings for the trade were determined.
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Accused Products
Abstract
An Internet based investment account management system that consists of data, a rules database, a business logic manager and user profiles is described. 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. The business logic manager can be configured to define whether the trader is authorized to execute a trade and whether sufficient holdings are available at a custodian bank in order to execute trade. A data exchange link may then be used to send data to a broker/dealer system to execute the trade.
33 Citations
19 Claims
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1. An electronic method of executing a trade in a system configured to manage a plurality of client accounts, comprising:
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querying a user profile database to determine access rights for a user and to determine the display information that the user can view; receiving trade instructions from the user to trade securities for one or more of the client accounts; comparing the trade instructions to a rule set to determine whether the trade is a valid trade; identifying one or more broker/dealers to execute the trade; determining whether sufficient holdings for the trade are available at the one or more custodian banks for the trade; and electronically sending the trade to the one or more broker/dealers for execution if sufficient holdings for the trade were determined. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. An Internet based investment account management system configured to send trade instructions for securities, comprising:
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a user profile database comprising user profiles for portfolio managers and traders, wherein said user profiles comprise access rights specifying a subset of client financial information available to the portfolio managers and traders; 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. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18, 19)
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Specification