Securitization of a commercial transaction
First Claim
1. A method comprising:
- generating, by a special purpose vehicle (SPV), a security-based tradable for each of a plurality of commercial transactions occurring within an electronic trade system, the security-based tradable being based upon a financial commitment relating to an account receivable held by a vendor, the commitment representing an amount due to the vendor subsequent to compliance with terms of the commercial transaction by the vendor;
providing, by the SPV, an offer to purchase the account receivable subsequent to compliance with the terms by the vendor; and
subsequent to confirmation of compliance by the vendor by the electronic trade system, receiving ownership of the account receivable by the SPV.
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Accused Products
Abstract
A method and apparatus for generating a tradable security includes confirming a vendor'"'"'s compliance with predefined terms of a commercial transaction, such that a buyer is obligated to make a due payment. The method and apparatus further includes electronically rating a financial commitment relating to a receivable account for the commercial transaction. This receivable account is rated based on conditions and factors known to a system facilitating the commercial transaction. Based on the ability for the financial commitment to be rated, a financial exchange is operative to transfer entitlement rights to monies due under the receivable account where the terms for the transfer of the entitlement rights are based at least in part on the electronic rating. Thereby, receivable accounts to commercial transactions may be tradable by one or more investors as properly rated investment.
40 Citations
12 Claims
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1. A method comprising:
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generating, by a special purpose vehicle (SPV), a security-based tradable for each of a plurality of commercial transactions occurring within an electronic trade system, the security-based tradable being based upon a financial commitment relating to an account receivable held by a vendor, the commitment representing an amount due to the vendor subsequent to compliance with terms of the commercial transaction by the vendor; providing, by the SPV, an offer to purchase the account receivable subsequent to compliance with the terms by the vendor; and subsequent to confirmation of compliance by the vendor by the electronic trade system, receiving ownership of the account receivable by the SPV. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A system comprising:
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one or more processors; and a computer-readable storage medium storing a plurality of instructions that cause the one or more processors to; generate a security-based tradable for each of a plurality of commercial transactions occurring within an electronic trade system, the security-based tradable being based upon a financial commitment relating to an account receivable held by a vendor, the commitment representing an amount due to the vendor subsequent to compliance with terms of the commercial transaction by the vendor; provide an offer to purchase the account receivable subsequent to compliance with the terms by the vendor; and subsequent to confirmation of compliance by the vendor by the electronic trade system, receiving ownership of the account receivable. - View Dependent Claims (8, 9, 10, 11, 12)
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Specification