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Method and system for facilitating foreign currency exchange transactions over a network

  • US 20020161692A1
  • Filed: 04/23/2001
  • Published: 10/31/2002
  • Est. Priority Date: 02/26/2001
  • Status: Abandoned Application
First Claim
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1. A method facilitated by a computer network to accomplish a foreign currency exchange transaction between business entities, comprising the acts of:

  • providing a central server system having a communication channel for electronically communicating with the business entities, whereby a representative of a first business entity that is registered is allowed access to the central server system;

    allowing the representative to select a currency pair to be transacted;

    displaying at least one rate for the selected currency pair posted by a representative from a second business entity which is registered with the central server system, the second business entity having established a mutual credit line with the first business entity; and

    allowing the representative of the first business entity to place an order on the currency pair, whereby the order is matched against the posted rates, a match resulting in a trade, and a non-match resulting in a posting of the order.

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