Efficient market for financial products
First Claim
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1. Apparatus for providing a financial products market, comprising:
- a data processing system having a program executing computer, a data storage device, and an output device;
a plurality of financial product data records specifying data regarding one or more financial products;
a plurality of participant disclosure data records specifying data disclosed by financial product participants regarding one or more financial product participants or regarding one or more properties which are a subject of the financial product;
said plurality of financial product data records and plurality of participant disclosure data records being stored in said data storage device;
computer programs executing on said data processing system for;
receiving financial product data records from said data storage device;
receiving participant disclosure data records from said data storage device;
providing the financial product data records or the participant disclosure data records from said data processing system to a data processing system participant; and
calculating a price to be charged to the financial product participant in which said price is in part determined by the financial product participant'"'"'s disclosure of data which is specified in the participant disclosure data records.
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Abstract
A data processing system is disclosed that provides an efficient market for financial products in which a plurality of stored data records containing financial product data and financial product participant data is stored in a data storage device, then made available to a data processing system participant, and the price to the financial product participant for that financial product is reduced based on the financial product participant'"'"'s disclosure of financial product participant data.
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Citations
21 Claims
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1. Apparatus for providing a financial products market, comprising:
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a data processing system having a program executing computer, a data storage device, and an output device; a plurality of financial product data records specifying data regarding one or more financial products; a plurality of participant disclosure data records specifying data disclosed by financial product participants regarding one or more financial product participants or regarding one or more properties which are a subject of the financial product; said plurality of financial product data records and plurality of participant disclosure data records being stored in said data storage device; computer programs executing on said data processing system for; receiving financial product data records from said data storage device; receiving participant disclosure data records from said data storage device; providing the financial product data records or the participant disclosure data records from said data processing system to a data processing system participant; and calculating a price to be charged to the financial product participant in which said price is in part determined by the financial product participant'"'"'s disclosure of data which is specified in the participant disclosure data records. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. Apparatus for providing market for loans and lines of credit, comprising:
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a data processing system having a program executing computer, a data storage device, and an output device; a plurality of loans and lines of credit data records specifying data regarding one or more loans and lines of credit; a plurality of participant disclosure data records specifying data disclosed by loan and line of credit participants regarding the participants or regarding property which is a subject of a loan or line of credit; said plurality of loans and lines of credit data records and plurality of participant disclosure data records being stored in said data storage device; computer programs executing on said data processing system for; receiving loans and lines of credit data records from said data storage device; receiving participant disclosure data records from said data storage device; providing the loans and lines of credit data records or the participant disclosure data records from said data processing system to a data processing system participant; and calculating a price to be charged to the loan and line of credit participants in which said price is in part determined by the loan and line of credit participants'"'"' disclosure of data which is specified in the participant disclosure data records. - View Dependent Claims (12, 13, 14, 15, 16, 19)
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17. Apparatus for providing market for insurance, comprising:
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a data processing system having a program executing computer, a data storage device, and an output device; a plurality of insurance data records specifying data regarding one or more insurance policies; a plurality of participant disclosure data records specifying data disclosed by insurance participants regarding the participants or regarding property which is a subject of an insurance policy; said plurality of insurance data records and plurality of participant disclosure data records being stored in said data storage device; computer programs executing on said data processing system for; receiving insurance data records from said data storage device; receiving participant disclosure data records from said data storage device; providing the insurance data records or the participant disclosure data records from said data processing system to a data processing system participant; and calculating a price to be charged to the insurance participants in which said price is in part determined by the insurance participants'"'"' disclosure of data which is specified in the participant disclosure data records. - View Dependent Claims (18, 20, 21)
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Specification