Alerts by sector/news alerts

• US 6,405,204 B1
• Filed: 10/27/1999
• Issued: 06/11/2002
• Est. Priority Date: 03/02/1999
• Status: Expired due to Fees

• Current Assignee: FactSet Research Systems Incorporated
• Original Assignee: Sector Data LLC
• Inventors: Parker, John, Baker, David N., Shum, Steven M.
• Primary Examiner(s): Alam, Hosain T.
• Assistant Examiner(s): ALAM, SHAHID AL
• Application Number:
  US09/428,298
• Time in Patent Office: 958 Days
• Field of Search: 707/100, 707/104, 707/204, 707/4, 705/408, 705/8, 705/36, 705/37, 709/224, 379/57, 713/201
• US Class Current: 705/36.00R
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: Y10S 707/99934 Query formulation, input preparation, or translation
• CPC Class Codes: Y10S 707/99939 Privileged access

Abstract

The invention provides index performance alerts by sector. The index alerts are based on price performance measures of each industry, sector, sub-sector, or group (referred to collectively as “sector” herein.) Users are able to define limits for the industry, sector, sub-sector, or group categories for alerts on price, volume, intraday range, current closing price relative to the intraday range, price to revenues, price to earnings, price to book value, and price to cash flow. Users have the ability to define at least one area in a hierarchy of industry, sector, sub-sector, or group levels, for setting alerts. Users also can request tickers of individual companies. The invention also provides news alerts for a user selected hierarchy level and/or an individual ticker symbol. Users are alerted when a news story, linked to a user-specified group or ticker, is created. The invention uses a proprietary product/service hierarchy methodology for categorization of companies, wherein the categorization methodology automatically extends the functionality to deliver a plurality of other alert notifications associated with subsidiary classifications, constituent companies'"'"' classifications, or to securities instruments. A preferred implementation of communication delivery is standard e-mail as well as XML using push technology.

Claims

1. An alert system for delivering an alert notification to a user, comprising:

a user interface means, whereby said user can interact with said system;

means for allowing said user to set, modify, and browse said alert notification; and

means for delivering said alert notification to said user;

wherein said means for allowing said user to set, modify, and browse said alert notification comprises a product/service hierarchy methodology for categorization of companies, said categorization automatically extending said delivering means to a plurality of other alert notifications associated with any of subsidiary classifications, constituent companies'"'"' classifications, or securities instruments.

2. The system of claim 1, wherein using said user interface, said user specifies a text, HTML, or XML format for delivering said alert notification and said plurality of other alert notifications.

3. The system of claim 1, wherein said means for delivering said alert notification and said plurality of other alert notifications comprises e-mail using standard SMTP Internet mail protocol.

4. The system of claim 1, wherein said means for delivering said alert notification and said plurality of other alert notifications comprises XML and push technology.

5. The system of claim 1, wherein said means for allowing said user to set, modify, and browse said alert notification comprises a product/service hierarchy classification database system associated with said product/service hierarchy methodology.

6. The system of claim 5, wherein said alert notification is a news alert.

7. The system of claim 6, wherein said news alert is associated with a user-specified company.

8. The system of claim 7, wherein said news alert notification is associated with a sector of a plurality of sectors to which said user-specified company belongs.

9. The system of claim 6, further comprising functionality for looking up a ticker symbol or a company name.

10. The system of claim 6, wherein said news alert is associated with a user-specified sector.

11. The system of claim 10, wherein said news alert is associated with one of a plurality of companies belonging to said user-specified sector.

12. The system of claim 10, wherein said news alert is associated with a sub-sector of a plurality of sub-sectors belonging to said user-specified sector.

13. The system of claim 6, further comprising product browser functionality for said user to select a user-specified sector.

14. The system of claim 6, wherein said news alert is sent substantially immediately after a news item meets a selected criteria, until said selected criteria is deleted from said system.

15. The system of claim 5, wherein said alert is a performance alert.

16. The system of claim 15, wherein said performance alert is associated with a user-specified company or a user-specified sector.

17. The system of claim 16, wherein said performance alert is of a first category, wherein data for said performance alert is monitored intraday and said performance alert is sent substantially immediately after a first user-selected criteria is met.

18. The system of claim 17, wherein said substantially immediately sent performance alert becomes inactive and is reactivated automatically each morning of a new day.

19. The system of claim 18, further providing said user with a manual means for reactivating said inactive alert.

20. The system of claim 17, further providing said user with a means for specifying that said alert is monitored in absolute terms, or in relative terms to a closing price on a prior day.

21. The system of claim 20, wherein means for specifying in relative terms further comprises specifying a number of days ago.

22. The system of claim 21, wherein zero days ago is close on a preceding day.

23. The system of claim 17, wherein said first category comprises any of:

a price change item, wherein for said user-specified sector, said user specifies a geometric average, an arithmetic average, or a market capitalization weighted average;

a volume change item, wherein for said user-specified sector uses simple average;

a price/revenue item, wherein for said user-specified sector uses simple average;

a price/earnings item, wherein for said user-specified sector uses simple average;

a price/book value item, wherein for said user-specified sector uses simple average; and

a price/cash flow item, wherein for said user-specified sector uses simple average.

24. The system of claim 16, wherein said performance alert is of a second category, wherein data for said performance alert is monitored during a day and said performance alert is sent after a second user-selected criteria is met only at the end of said day.

25. The system of claim 24, further providing said user with a means for specifying that said alert is monitored in relative terms to a closing price on a prior day.

26. The system of claim 25, wherein means for specifying in relative terms further comprises specifying a number of days ago.

27. The system of claim 26, wherein zero days ago is close on a preceding day.

28. The system of claim 24, wherein said second category comprises:

an intraday range item, wherein said user specifies a percentage range of an opening price, and wherein said first formula is (high−

low)/opening price;

a closing item, wherein two values are provided, said first value being a percentage from the top from a close price, wherein said second formula is (high−

close)/(high−

low), and said second value being a percentage from the bottom of said close price, wherein said third formula is (close−

low)/(high−

low).

29. The system of claim 1, wherein said user has limited access of up to a predetermined number of levels, N, of said proprietary product/service hierarchy classification.

30. The system of claim 29, wherein N is 3.

31. The system of claim 1, said means for delivering further comprising multiple alert notifications on a same category, wherein each of said multiple alert notifications is sent by said system and received by said user independently.

32. A method for delivering from an alert system an alert notification to a user, comprising the steps of:

providing a user interface means, whereby said user can interact with said system;

allowing said user to set, modify, and browse said alert notification; and

delivering said alert notification to said user;

wherein said step for allowing said user to set, modify, and browse said alert notification uses a product/service hierarchy methodology for categorization of companies, said categorization automatically extending said delivering step to a plurality of other alert notifications associated with any of subsidiary classifications, constituent companies'"'"' classifications, or securities instruments.

33. The method of claim 32, wherein using said user interface, said user specifies a text, HTML, or XML format for delivering said alert notification and said plurality of other alert notifications.

34. The method of claim 32, wherein said delivering step comprises e-mail using standard SMTP Internet mail protocol.

35. The method of claim 32, wherein said delivering step uses XML and push technology.

36. The method of claim 32, wherein said allowing step uses a product/service hierarchy classification database system associated with said product/service hierarchy methodology.

37. The method of claim 36, wherein said alert notification is a news alert.

38. The method of claim 37, wherein said news alert is associated with a user-specified company.

39. The method of claim 38, wherein said news alert notification is associated with a sector of a plurality of sectors to which said user-specified company belongs.

40. The method of claim 37, further comprising functionality for looking up a ticker symbol or a company name.

41. The method of claim 37, wherein said news alert is associated with a user-specified sector.

42. The method of claim 41, wherein said news alert is associated with one of a plurality of companies belonging to said user-specified sector.

43. The method of claim 41, wherein said news alert is associated with a sub-sector of a plurality of sub-sectors belonging to said user-specified sector.

44. The method of claim 37, wherein said allowing step further comprises product browser functionality for said user to select a user-specified sector.

45. The method of claim 37, further comprising the step of sending said news alert substantially immediately after a news item meets a selected criteria, until said selected criteria is deleted from said system.

46. The method of claim 36, wherein said alert is a performance alert.

47. The method of claim 46, wherein said performance alert is associated with a user-specified company or a user-specified sector.

48. The method of claim 47, wherein said performance alert is of a first category, wherein data for said performance alert is monitored intraday and said performance alert is sent substantially immediately after a first user-selected criteria is met.

49. The method of claim 48, wherein said substantially immediately sent performance alert becomes inactive and is reactivated automatically each morning of a new day.

50. The method of claim 49, further comprising the step of providing said user with a manual means for reactivating said inactive alert.

51. The method of claim 48, further comprising the step of providing said user with a means for specifying that said alert is monitored in absolute terms, or in relative terms to a closing price on a prior day.

52. The method of claim 51, wherein means for specifying in relative terms further comprises specifying a number of days ago.

53. The method of claim 52, wherein zero days ago is close on a preceding day.

54. The method of claim 48, wherein said first category comprises any of:

a price change item, wherein for said user-specified sector, said user specifies a geometric average, an arithmetic average, or a market capitalization weighted average;

a volume change item, wherein for said user-specified sector uses simple average;

a price/revenue item, wherein for said user-specified sector uses simple average;

a price/earnings item, wherein for said user-specified sector uses simple average;

a price/book value item, wherein for said user-specified sector uses simple average; and

a price/cash flow item, wherein for said user-specified sector uses simple average.

55. The method of claim 47, wherein said performance alert is of a second category, wherein data for said performance-alert is monitored during a day and said performance alert is sent after a second user-selected criteria is met only at the end of said day.

56. The method of claim 55, further comprising the step of providing said user with a means for specifying that said alert is monitored in relative terms to a closing price on a prior day.

57. The method of claim 56, wherein means for specifying in relative terms further comprises specifying a number of days ago.

58. The method of claim 57, wherein zero days ago is close on a preceding day.

59. The method of claim 55, wherein said second category comprises:

an intraday range item, wherein said user specifies a percentage range of an opening price, and wherein said first formula is (high−

low)/opening price;

a closing item, wherein two values are provided, said first value being a percentage from the top from a close price, wherein said second formula is (high−

close)/(high−

low), and said second value being a percentage from the bottom of said close price, wherein said third formula is (close−

low)/(high−

low).

60. The method of claim 32, wherein said user has limited access of up to a predetermined number of levels, N, of said proprietary product/service hierarchy classification.

61. The method of claim 60, wherein N is 3.

62. The method of claim 32, wherein said delivering step further comprises multiple alert notifications on a same category, wherein each of said multiple alert notifications is sent by said system and received by said user independently.

63. A method for a user to add news alerts to an alert system, comprising the steps of:

entering a company name of a company or a ticker number of said company associated with a company news alert;

finding an entry in a database associated with said company and with said company news alert;

selecting either to be alerted to news on said company or to news on said company and related sectors, wherein said selection is associated with said company news alert;

selecting to add said specified company news alert to said system;

entering a sector name of a sector, a ticker number, or selecting said sector name from a list of sector names, said sector associated with a sector news alert;

selecting any combination of;

send news on sector only,

send news on sector and on all companies in said sector, and

send news on sector and on all sub-sectors;

wherein said selection is associated with a sector news alert; and

selecting to add said specified sector news alert to said system.

64. The method of claim 63, wherein said news alerts are sent continuously each time there is news that meets selected criteria.

65. The method of claim 63, further comprising the step of providing lookup functionality, whereby said user uses said ticker number to find said entry in said database.

66. The method of claim 63, further comprising the step of providing for said user a means to subscribe to multiple alerts on either of:

said company;

or

said sector; and

wherein each of said multiple alerts is sent and received independently.

67. The method of claim 63, wherein said list of sector names is a product/service hierarchy.

68. A method for a user to add performance alerts to an alert system, comprising the steps of:

selecting one of a company performance alert or a sector index performance alert;

entering either of;

a company name of a company or a ticker number of said company associated with a company performance alert, or

a sector name of a sector or a ticker number of said company associated with a sector index performance alert;

selecting one of a set of available criteria items;

deciding if said selected item is of a first category or a second category;

entering appropriate data associated with said selected criteria item; and

adding said performance alert to said system.

69. The method of claim 68, further comprising the step of providing said user with a lookup functionality to aid said user in finding an associated entry in a database.

70. The method of claim 68, further comprising the step of providing for said user a means to subscribe to multiple alerts on either of:

said company;

or

said sector; and

wherein each of said multiple alerts is sent and received independently.

71. The method of claim 68, wherein said set of available criteria items comprises any of:

price;

volume;

price revenue;

price/earnings ratio;

price book value;

price cash flow value;

intraday price range;

closing price range; and

wherein said first category comprises said first six said criteria items and said second category comprises said last two said criteria items.

72. The method of claim 71, wherein said performance alert associated with said second category is sent at end of day only.

73. The method of claim 71, wherein for said sector and said first category, calculated values comprise geometric average, arithmetic average, and market capitalization weighted average, and wherein for said sector and said second category, calculated values comprise simple average.

74. The method of claim 71, wherein for said second category, calculated values comprise any of:

(high−

low)/open, for intraday price range;

(high−

close)/(high−

low), for closing price range; and

(close−

low)/(high−

low), for closing price range.

75. The method of claim 68, wherein said data is monitored continuously intraday, said alert is sent substantially immediately as soon as said criteria is met, said alert becomes inactive for the rest of the day, and said alert is reactivated in the morning of a new day.

76. The method of claim 75, wherein said user can manually reactivate said inactive alert.

77. The method of claim 68, further comprising the step of providing said user functionality to specify whether said alert will be monitored in absolute terms or in relative terms, relative to a closing price on a previous day.

78. The method of claim 77, wherein for relative terms said functionality further comprises ability to specify a number of days ago, wherein zero days ago defaults to close on a preceding day.