System and method for real-time pricing with volume discounting
First Claim
1. A computer-implemented method for charging a billable entity for transactions against financial instruments during a billing cycle, where the billable entity comprises related portfolios and where each portfolio is associated with one or more of the financial instruments, said method comprising the following steps performed in a data processing system:
- for each transaction to be charged, at the time the transaction takes place;
identifying a first set of transactions, being all transactions executed for the billable entity during the billing cycle up to and including the transaction to be charged;
identifying for the transaction to be charged one or more production services, wherein one or more instances of each identified production service are components of the transaction to be charged; and
for each identified production service;
determining a quantity or count of the identified production service in the transaction to be charged;
determining a running total quantity or count of the identified production service for the first set of transactions;
determining a first total charge for the identified production service, said first total charge being applicable to the running total quantity or count of the identified production service, according to a pricing method applicable to the identified production service or the billable entity at the time of the transaction to be charged; and
determining a tentative charge for the identified production service of the transaction to be charged by multiplying the first total charge by the ratio of (i) the quantity or count of the identified production service in the transaction to be charged to (ii) the running total quantity or count of the identified production service; and
at the end of the billing cycle, for each production service in the billing cycle, calculating an end-of-period variance or correction to the tentative charge, the end-of-period variance or correction being calculated using a method comprising;
identifying a final set of transactions, being all transactions executed for the billable entity during the billing cycle;
determining an end-of-period total quantity or count for each production service associated with the final set of transactions; and
determining a final total charge applicable to the billable entity'"'"'s end-of-period total quantity or count for each production service; and
determining an end-of-period apportionment charge for each production service for each transaction in the final set of transactions by multiplying the final total charge by the ratio of (i) the quantity or count of the production service for the transaction, to (ii) the end-of-period total quantity or count of the production service;
for each production service for each transaction;
calculating the end-of-period variance or correction by determining a difference between the end-of-period production service apportionment charge and the tentative charge; and
modifying the tentative charge of each production service of each transaction using the corresponding end-of-period variance or correction.
0 Assignments
0 Petitions
Accused Products
Abstract
A system and method are provided for facilitating real-time pricing with volume discounting. The method includes receiving a request for a real-time price quote for a transaction from a first account. The request is received at a first instance in time during a billing cycle. The method also includes determining a first production service, where the first production service is a component of the transaction, and determining a count of first production service instances representing the first production service in the received transaction. The method further includes determining a billable entity for the transaction, where the billable entity includes one or more related accounts, and the related accounts includes the first account.
37 Citations
22 Claims
-
1. A computer-implemented method for charging a billable entity for transactions against financial instruments during a billing cycle, where the billable entity comprises related portfolios and where each portfolio is associated with one or more of the financial instruments, said method comprising the following steps performed in a data processing system:
for each transaction to be charged, at the time the transaction takes place; identifying a first set of transactions, being all transactions executed for the billable entity during the billing cycle up to and including the transaction to be charged; identifying for the transaction to be charged one or more production services, wherein one or more instances of each identified production service are components of the transaction to be charged; and for each identified production service; determining a quantity or count of the identified production service in the transaction to be charged; determining a running total quantity or count of the identified production service for the first set of transactions; determining a first total charge for the identified production service, said first total charge being applicable to the running total quantity or count of the identified production service, according to a pricing method applicable to the identified production service or the billable entity at the time of the transaction to be charged; and determining a tentative charge for the identified production service of the transaction to be charged by multiplying the first total charge by the ratio of (i) the quantity or count of the identified production service in the transaction to be charged to (ii) the running total quantity or count of the identified production service; and at the end of the billing cycle, for each production service in the billing cycle, calculating an end-of-period variance or correction to the tentative charge, the end-of-period variance or correction being calculated using a method comprising; identifying a final set of transactions, being all transactions executed for the billable entity during the billing cycle; determining an end-of-period total quantity or count for each production service associated with the final set of transactions; and determining a final total charge applicable to the billable entity'"'"'s end-of-period total quantity or count for each production service; and determining an end-of-period apportionment charge for each production service for each transaction in the final set of transactions by multiplying the final total charge by the ratio of (i) the quantity or count of the production service for the transaction, to (ii) the end-of-period total quantity or count of the production service; for each production service for each transaction; calculating the end-of-period variance or correction by determining a difference between the end-of-period production service apportionment charge and the tentative charge; and modifying the tentative charge of each production service of each transaction using the corresponding end-of-period variance or correction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
-
12. A non-transitory computer-readable storage device provided for carrying out a method for carrying out in a data processing system a method for charging a billable entity for transactions against financial instruments during a billing cycle, where the billable entity comprises related portfolios and where each portfolio is associated with one or more of the financial instruments, the computer-readable storage device comprising computer-executable instructions for:
for each transaction to be charged, at the time the transaction takes place; identifying a first set of transactions, being all transactions executed for the billable entity during the billing cycle up to and including the transaction to be charged; identifying for the transaction to be charged one or more production services, wherein one or more instances of each identified production service are components of the transaction to be charged; and for each identified production service; determining a quantity or count of the identified production service in the transaction to be charged; determining a running total quantity or count of the identified production service for the first set of transactions; determining a first total charge for the identified production service, said first total charge being applicable to the running total quantity or count of the identified production service, according to a pricing method applicable to the identified production service or the billable entity at the time of the transaction to be charged; and determining a tentative charge for the identified production service of the transaction to be charged by multiplying the first total charge by the ratio of (i) the quantity or count of the identified production service in the transaction to be charged to (ii) the running total quantity or count of the identified production service; and at the end of the billing cycle, for each production service in the billing cycle, calculating an end-of-period variance or correction to the tentative charge, the end-of-period variance or correction being calculated using a method comprising; identifying a final set of transactions, being all transactions executed for the billable entity during the billing cycle; determining an end-of-period total quantity or count for each production service associated with the final set of transactions; and determining a final total charge applicable to the billable entity'"'"'s end-of-period total quantity or count for each production service; and determining an end-of-period apportionment charge for each production service for each transaction in the final set of transactions by multiplying the final total charge by the ratio of (i) the quantity or count of the production service for the transaction, to (ii) the end-of-period total quantity or count of the production service; for each production service for each transaction; calculating the end-of-period variance or correction by determining a difference between the end-of-period production service apportionment charge and the tentative charge; and modifying the tentative charge of each production service of each transaction using the corresponding end-of-period variance or correction. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
Specification