METHODS AND SYSTEMS FOR RETRIEVING DATA STORED IN A DATABASE

• US 20070118468A1
• Filed: 02/26/2007
• Published: 05/24/2007
• Est. Priority Date: 11/21/1994
• Status: Active Grant

• Current Assignee: BGC Partners LP (BGC Group, Inc.)
• Original Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Inventors: LAWRENCE, David
• Granted Patent: US 8,547,199 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation
• CPC Class Codes: H04L 67/04 specially adapted for terminals or networks with limited capabilities; specially adapted for terminal portability
• CPC Class Codes: H04W 4/02 Services making use of location information
• CPC Class Codes: Y10S 707/99934 Query formulation, input preparation, or translation
• CPC Class Codes: Y10S 707/99952 Coherency, e.g. same view to multiple users

Abstract

A computer-implemented, transaction-making, municipal bond trading system having a capability to conduct a private electronic auction of bid wanteds between a central brokers'"'"' broker and multiple prospective remote bidders and to maintain a reference database of accurate individual bond lot descriptions and identifications, including CUSIP (trademark) numbers.

Claims

1. A method for trading bonds electronically, the method comprising:

transmitting a list of bonds to a selling user computer;

receiving from the selling user a selection of a bond from the list of bonds to be included in a bid wanted;

receiving a bid wanted for at least one bond lot comprising the selected bond from the selling user computer;

transmitting the bid wanted to a plurality of bidding users;

receiving a plurality of bids responding to the bid wanted from the plurality of bidding users; and

transmitting to the selling user computer a list of the bids received from the plurality of bidding users.

2. The method of claim 1, wherein the list of bonds transmitted to the selling user is sorted by maturity date.

3. The method of claim 1, comprising transmitting to the selling user coupon data for each of the plurality of bonds on the list.

4. The method of claim 1, comprising transmitting to the selling user maturity data for each of the plurality of bonds on the list.

5. The method of claim 1, comprising transmitting to the selling user issuer data for each of the plurality of bonds on the list.

6. The method of claim 1, comprising transmitting to the selling user yield data for each of the plurality of bonds on the list.

7. The method of claim 1, comprising transmitting to the selling user market data for each of the plurality of bonds on the list.

8. The method of claim 1, wherein at least one of the bonds on the list represents a bond order that has not traded.

9. The method of claim 1, wherein at least one of the plurality of bonds represents a bond offering.

10. The method of claim 1, comprising receiving a query from the selling user for a bond list, the list of bonds comprising a plurality of bond offerings retrieved in response to the query.

11. The method of claim 1, wherein the list of bids is sorted by at least one of yield and price.

12. The method of claim 1, comprising identifying a high bid from the plurality of bids, the list of bids comprising the high bid.

13. The method of claim 1, wherein the bid wanted comprises at least one of a description, a maturity date, a par value, a coupon value, a yield, and a settlement date.

14. The method of claim 13, wherein the at least one of the description, the maturity date, the par value, the coupon value, the yield, and the settlement date is system-incorporated into the bid wanted.

15. The method of claim 1, wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a list of bidding users.

16. The method of claim 1, wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a predetermined destination list of brokerage firms.

17. The method of claim 1, wherein each of the plurality of bids are not disclosed to other bidding users.

18. The method of claim 1, comprising receiving a bond description from the selling user and system-incorporating into the bid wanted a unique issue identifier associated with the bond description.

19. The method of claim 18, the bond description received with the selling user selecting a bond from the list of bonds.

20. The method of claim 1, wherein the selling user is able to accept at least one of the bids transmitted to the selling user, the method comprising receiving an acceptance of at least one of the bids, and executing a trade of the at least one bond lot between the selling user and at least one of the plurality of bidding user that submitted the accepted at least one bids.

21. A system for trading bonds electronically, the system comprising at least one computer connected over a computer network to at least one selling user computer and a plurality of bidding user computers, the at least one computer configured to:

transmit a list of bonds to a selling user computer;

receive from the selling user a selection of a bond from the list of bonds to be included in a bid wanted;

receive a bid wanted for at least one bond lot comprising the selected bond from the selling user computer;

transmit the bid wanted to a plurality of bidding users;

receive a plurality of bids responding to the bid wanted from the plurality of bidding users; and

transmit to the selling user computer a list of the bids received from the plurality of bidding users.

22. The system of claim 21, wherein the list of bonds transmitted to the selling user is sorted by maturity date.

23. The system of claim 24, the at least one computer configured to transmit to the selling user coupon data for each of the plurality of bonds on the list.

24. The system of claim 21, the at least one computer configured to transmit to the selling user maturity data for each of the plurality of bonds on the list.

25. The system of claim 21, the at least one computer configured to transmit to the selling user issuer data for each of the plurality of bonds on the list.

26. The system of claim 21, the at least one computer configured to transmit to the selling user yield data for each of the plurality of bonds on the list.

27. The system of claim 21, the at least one computer configured to transmit to the selling user market data for each of the plurality of bonds on the list.

28. The system of claim 21, wherein at least one of the bonds on the list represents a bond order that has not traded.

29. The system of claim 21, wherein at least one of the plurality of bonds represents a bond offering.

30. The system of claim 21, the at least one computer configured to receive a query from the selling user for a bond list, the list of bonds comprising a plurality of bond offerings retrieved in response to the query.

31. The system of claim 21, wherein the list of bids is sorted by at least one of yield and price.

32. The system of claim 21, the at least one computer configured to identify a high bid from the plurality of bids, the list of bids comprising the high bid.

33. The system of claim 21, wherein the bid wanted comprises at least one of a description, a maturity date, a par value, a coupon value, a yield, and a settlement date.

34. The system of claim 33, wherein the at least one of the description, the maturity date, the par value, the coupon value, the yield, and the settlement date is system-incorporated into the bid wanted.

35. The system of claim 21, wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a list of bidding users.

36. The system of claim 21, wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a predetermined destination list of brokerage firms.

37. The system of claim 21, wherein each of the plurality of bids are not disclosed to other bidding users.

38. The system of claim 21, the at least one computer configured to receive a bond description from the selling user and system-incorporate into the bid wanted a unique issue identifier associated with the bond description.

39. The system of claim 38, the bond description received with the selling user selecting a bond from the list of bonds.

40. The system of claim 21, wherein the selling user is able to accept at least one of the bids transmitted to the selling user, the at least one computer configured to receive an acceptance of at least one of the bids, and execute a trade of the at least one bond lot between the selling user and at least one of the plurality of bidding user that submitted the accepted at least one bids.

41. A method for trading bonds electronically, the method comprising:

transmitting a list of bonds to a selling user computer;

transmitting to the selling user at least one item of bond data for each of the plurality of bonds on the list, the at least one item of bond data comprising at least one of coupon data, maturity data, yield data, and issuer data;

receiving from the selling user a selection of a bond from the list of bonds to be included in a bid wanted;

receiving a bid wanted for at least one bond lot comprising the selected bond from the selling user computer, the bid wanted comprising a unique issue identifier system incorporated into the bid wanted;

transmitting the bid wanted to a plurality of bidding users;

receiving a plurality of bids responding to the bid wanted from the plurality of bidding users; and

transmitting to the selling user computer a list of the bids received from the plurality of bidding users.