METHODS AND SYSTEMS FOR RETRIEVING DATA STORED IN A DATABASE

• US 20070124167A1
• Filed: 02/26/2007
• Published: 05/31/2007
• 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 8,560,426 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™ numbers.

Claims

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

receiving a bid wanted for at least one bond lot from a 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;

identifying a high bid from the plurality of bids; and

transmitting to the selling user computer a list of the bids received from the plurality of bidding users, the list comprising the identified high bid.

2. The method of claim 1, wherein an ordered list of the plurality of bids received is transmitted to the selling user.

3. The method of claim 1, wherein an ordered list of the plurality of bids received is transmitted to the selling user sorted by at least one of yield and price.

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

5. The method of claim 1, comprising transmitting a list of bonds to the selling user and receiving from the selling user a selection of at least one bond from the list of bonds to be included in the bid wanted.

6. The method of claim 5, wherein the bonds are sorted by maturity date.

7. The method of claim 5, wherein the list of bonds comprises at least one item of bond data for each of a plurality of bonds on the list.

8. The method of claim 7, wherein the at least one item of bond data comprises at least one item of market data for each of a plurality of bonds on the list.

9. The method of claim 7, wherein the at least one item of bond data comprises at least one of coupon, maturity, issuer, and yield data.

10. The method of claim 5, wherein the list of bonds comprises a plurality of bond offerings.

11. The method of claim 5, comprising receiving a query from the selling user, wherein the list of bonds comprises a plurality of bonds retrieved in response to the query.

12. The method of claim 5, comprising receiving a selection of a bond from the list of bonds and incorporating at least one item of bond data associated with the selected bond into the bid wanted.

13. The method of claim 1, wherein the bid wanted comprises at least one item of bond lot data system incorporated into the bid wanted.

14. The method of claim 13, wherein the at least one item of bond lot data system incorporated into the bid wanted comprises at least one of a unique issue identifier, a description, a maturity date, a par value, a coupon value, a yield, and a settlement date.

15. The method of claim 13, wherein the at least one item of bond lot data is incorporated into the bid wanted based at least on another item of bond lot data provided by the selling user.

16. The method of claim 13, comprising receiving a bond lot description from the selling user and wherein the at least one item of bond lot data system-incorporated into the bid wanted comprises a unique issue identifier.

17. The method of claim 16, comprising transmitting a list of bonds to the selling user, the bond lot description received with the selling user selecting a bond from the list of bonds.

18. 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.

19. 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.

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.

37. The system of claim 16, the at least one computer configured to transmit a list of bonds to the selling user, the bond lot description received with the selling user selecting a bond from the list of bonds.

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:

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

transmit 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;

identify a high bid from the plurality of bids; and

transmit to the selling user computer a list of the bids received from the plurality of bidding users, the list comprising the identified high bid.

22. The system of claim 21, wherein an ordered list of the plurality of bids received is transmitted to the selling user.

23. The system of claim 21, wherein an ordered list of the plurality of bids received is transmitted to the selling user sorted by at least one of yield and price.

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

25. The system of claim 21, the at least one computer configured to transmit a list of bonds to the selling user and receiving from the selling user a selection of at least one bond from the list of bonds to be included in the bid wanted.

26. The system of claim 25, wherein the bonds are sorted by maturity date.

27. The system of claim 25, wherein the list of bonds comprises at least one item of bond data for each of a plurality of bonds on the list.

28. The system of claim 27, wherein the at least one item of bond data comprises at least one item of market data for each of a plurality of bonds on the list.

29. The system of claim 27, wherein the at least one item of bond data comprises at least one of coupon, maturity, issuer, and yield data.

30. The system of claim 25, wherein the list of bonds comprises a plurality of bond offerings.

31. The system of claim 25, configured receive a query from the selling user, wherein the list of bonds comprises a plurality of bonds retrieved in response to the query.

32. The system of claim 25, configured receive a selection of a bond from the list of bonds and incorporating at least one item of bond data associated with the selected bond into the bid wanted.

33. The system of claim 21 wherein the bid wanted comprises at least one item of bond lot data system incorporated into the bid wanted.

34. The system of claim 33, wherein the at least one item of bond lot data system incorporated into the bid wanted comprises at least one of a unique issue identifier, a description, a maturity date, a par value, a coupon value, a yield, and a settlement date.

35. The system of claim 33, wherein the at least one item of bond lot data is incorporated into the bid wanted based at least on another item of bond lot data provided by the selling user.

36. The system of claim 33, the at least one computer configured to receive a bond lot description from the selling user and wherein the at least one item of bond lot data system-incorporated into the bid wanted comprises a unique issue identifier.

38. 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.

39. 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.

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 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.

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

transmitting a list of bonds to a selling user;

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

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

transmitting the bid wanted to a plurality of bidding users selected from a list of bidding users;

receiving a plurality of bids responding to the bid wanted, wherein each of the plurality of bids are not disclosed to other bidding users;

identifying a high bid from the plurality of bids;

transmitting to the selling user computer a list of the bids received from the plurality of bidding users, wherein the list comprises the identified high bid and wherein the selling user is able to accept at least one of the bids transmitted to the selling user; 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.