Securities brokerage-cash management system with short term investment proceeds allotted among multiple accounts
First Claim
1. In combination in a system for processing and supervising a plurality of composite subscriber accounts each comprising a margin brokerage account, subscriber implemented funds withdrawal means, and participation in at least one short term investment including at least one insured savings account, manual transaction entry means, brokerage account data file magnetic storage means for storing current information characterizing each subscriber margin brokerage account, means for receiving subscriber funds withdrawal transaction information, means for generating an updated credit limit for each account operating upon said brokerage account data file storage means and said received subscriber implemented withdrawal transactional information, means for selectively generating short term investment transactions as required to generate and invest proceeds from said subscriber'"'"'s accounts, and means for updating the short term investment position for said subscriber accounts, said updating means including at least one bank money market deposit account processing means, each of said money market deposit account processing means including test means for rejecting deposits in excess of a predetermined insurance limit-related upper bound.
2 Assignments
0 Petitions
Accused Products
Abstract
Data processing for an improved securities brokerage-cash management system supervises, implements and coordinates a margin securities brokerage account; participation in one or more short term investments; and subscriber unilaterally initiated use of charge, debit or checking instruments. Subscriber expenditures, effected as by charge card use, check and/or cash advance are applied on a hierarchal basis, seriatim, against the subscriber'"'"'s free credit balance, short term investment and the lendable equity in his securities account. On a periodic basis, e.g., daily, received card charges, check, securities and deposit transactions for the ensemble of account participants are verified and employed to compute an updated credit limit for each subscriber.
In accordance with one aspect of the present invention, the short term investments available to subscribers include an ordered ensemble of insured savings accounts.
696 Citations
11 Claims
- 1. In combination in a system for processing and supervising a plurality of composite subscriber accounts each comprising a margin brokerage account, subscriber implemented funds withdrawal means, and participation in at least one short term investment including at least one insured savings account, manual transaction entry means, brokerage account data file magnetic storage means for storing current information characterizing each subscriber margin brokerage account, means for receiving subscriber funds withdrawal transaction information, means for generating an updated credit limit for each account operating upon said brokerage account data file storage means and said received subscriber implemented withdrawal transactional information, means for selectively generating short term investment transactions as required to generate and invest proceeds from said subscriber'"'"'s accounts, and means for updating the short term investment position for said subscriber accounts, said updating means including at least one bank money market deposit account processing means, each of said money market deposit account processing means including test means for rejecting deposits in excess of a predetermined insurance limit-related upper bound.
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10. In combination in a system for processing and supervising a plurality of composite subscriber accounts each comprising a margin brokerage account, subscriber implemented funds withdrawal means, and participation in at least one short term investment including at least one insured savings account, manual transaction entry means, brokerage account data file magnetic storage means for storing current information characterizing each subscriber margin brokerage account, means for receiving subscriber funds withdrawal transaction information, means for generating an updated credit limit for each account operating upon said brokerage account data file storage means and said received subscriber implemented withdrawal transactional information, means for selectively generating short term investment transactions as required to generate and invest proceeds from said subscriber'"'"'s accounts, and means for updating the short term investment position for said subscriber accounts, said updating means including at least one bank money market deposit account processing means, each of said money market deposit account processing means including test means for rejecting deposits in excess of a predetermined insurance limit-related upper bound wherein money market deposit account processing means includes means for storing a maximum program savings account deposit limit for each participating institution, and means for precluding deposits to customers not already having a money market deposit account at a specific institution responsive to that institution'"'"'s stored deposit limit being exceeded.
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11. In combination in a system for processing and supervising a plurality of composite subscriber accounts each comprising a margin brokerage account, subscriber implemented funds withdrawal means, and participation in at least one short term investment including at least one insured savings account, manual transaction entry means, brokerage account data file magnetic storage means for storing current information characterizing each subscriber margin brokerage account, means for receiving subscriber funds withdrawal transaction information, means for generating an updated credit limit for each account operating upon said brokerage account data file storage means and said received subscriber implemented withdrawal transactional information, means for selectively generating short term investment transactions as required to generate and invest proceeds from said subscriber'"'"'s accounts, and means for updating the short term investment position for said subscriber accounts, said updating means including at least one bank money market deposit account processing means, each of said money market deposit account processing means including test means for rejecting deposits in excess of a predetermined insurance limit-related upper bound wherein said system includes plural of said bank money market deposit account processing means, said plural money market deposit account processing means being in an ordered hierarchy, each of said money market deposit account processing means including means for providing deposits which attain or exceed a minimum predetermined threshold bound for each of a corresponding ordered hierarchy of bank institutions for which any subscriber maintains a money market deposit account.
Specification