APPARATUS AND METHOD OF A DISTRIBUTED CAPITAL SYSTEM

• US 20120259763A1
• Filed: 06/11/2012
• Published: 10/11/2012
• Est. Priority Date: 02/14/2002
• Status: Active Grant

• Current Assignee: Zachary Pessin
• Original Assignee: Zachary Pessin
• Inventors: PESSIN, Zachary
• Granted Patent: US 9,020,851 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Methods, systems, and articles of manufacture consistent with the present invention provide for conducting financial transactions over a network. A user requests to execute at least one financial transaction with at least one of a number of parties, each of the parties corresponding to a data processing system on the network. Real-time financial information relating to the financial transaction is obtained, and the user can test and confirm that the financial transaction with the at least one party can take place prior to execution of the financial transaction.

Claims

1-54. -54. (canceled)

55. A method of conducting a financial transaction over a computerized network, comprising:

instituting a financial transaction as a fungible trade between parties; and

implementing said financial transaction by matching a first item to be traded from at least one party with at least a second item to be traded from at least one counterparty.

56. The method according to claim 55, wherein successive matches with additional counterparties are conducted until said financial transaction is complete.

57. A method of conducting a financial transaction over a computerized network, comprising:

instituting a fungible financial transaction between parties; and

implementing said fungible financial transaction by matching a first item to be transacted from at least one party with at least a second item to be transaction from at least one counterparty; and

performing a netting summation between said parties and counterparties.