Method and apparatus for managing a virtual portfolio of investment objects
First Claim
1. A computer-implemented method of managing one or more financial objects, the method being executed on a data processing system, the method comprising:
- managing a virtual portfolio of the financial objects by at least one computer wherein said virtual portfolio comprises a collection of the financial objects managed collectively but tracked separately with separately owned lots on behalf of a plurality of investors;
providing a computer database associating by the at least one computer, a plurality of lots owned by each of said plurality of investors and associating by the at least one computer, said plurality of lots as tradable regardless of an initiator of the purchase of said plurality of lots;
providing by the at least one computer, lot selection rules;
receiving by the at least one computer, a requested trade;
selecting by the at least one computer, a lot for trading from said plurality of lots using said computer database, said lot selection rules, and said requested trade;
providing by the at least one computer, taxation rules;
determining by the at least one computer, if a trade using said selected lot should be deferred using the computer database and said taxation rules;
generating by the at least one computer, a deferred trade in a tax-managed sub-account if it is determined that said requested trade should be deferred; and
selecting by the at least one computer, said deferred trade in said tax-managed sub-account for execution if it is determined that said deferred trade should no longer be deferred using said computer database and said taxation rules.
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Accused Products
Abstract
A method of managing financial object(s), on a computer, including but not limited to managing a virtual portfolio of the objects where the portfolio may include a collection of objects managed collectively but tracked separately with separately owned lots on behalf of investor(s); providing a database associating lot(s) owned by each of the investors and associating the lots as tradable regardless of initiator of the purchase; providing lot selection rules; receiving a requested trade; selecting a lot for trading using the database, the lot selection rules, and the requested trade; providing taxation rules; determining if a trade using the selected lot should be deferred; generating a deferred trade in a tax-managed sub-account if it is determined that the requested trade should be deferred; and selecting the deferred trade in the sub-account for execution if the deferred trade should no longer be deferred using the database and the taxation rules.
214 Citations
52 Claims
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1. A computer-implemented method of managing one or more financial objects, the method being executed on a data processing system, the method comprising:
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managing a virtual portfolio of the financial objects by at least one computer wherein said virtual portfolio comprises a collection of the financial objects managed collectively but tracked separately with separately owned lots on behalf of a plurality of investors; providing a computer database associating by the at least one computer, a plurality of lots owned by each of said plurality of investors and associating by the at least one computer, said plurality of lots as tradable regardless of an initiator of the purchase of said plurality of lots; providing by the at least one computer, lot selection rules; receiving by the at least one computer, a requested trade; selecting by the at least one computer, a lot for trading from said plurality of lots using said computer database, said lot selection rules, and said requested trade; providing by the at least one computer, taxation rules; determining by the at least one computer, if a trade using said selected lot should be deferred using the computer database and said taxation rules; generating by the at least one computer, a deferred trade in a tax-managed sub-account if it is determined that said requested trade should be deferred; and selecting by the at least one computer, said deferred trade in said tax-managed sub-account for execution if it is determined that said deferred trade should no longer be deferred using said computer database and said taxation rules. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A computer-implemented method of managing one or more financial objects comprising:
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managing a plurality of virtual portfolios of the financial objects by at least one computer, with separate lots owned by one or more individual investors and tracked separately; providing a computer-implemented lot matrix associating by the at least one computer, a plurality of lots with said plurality of virtual portfolios of the financial objects, each lot of said plurality of lots tradable regardless of an initiator of purchase of said lot and associating by the at least one computer, said plurality of lots as separately owned by said one or more investors; providing by the at least one computer, lot selection rules; receiving by the at least one computer, a requested trade; for each of said plurality of virtual portfolios, performing the following;
for said requested trade, selecting by the at least one computer, a lot from said plurality of lots for execution of said requested trade using said lot selection rules, and said lot matrix;determining by the at least one computer, if said requested trade should be deferred using said lot matrix, taxation rules, and said lot selection rules; generating by the at least one computer, a deferred trade in a tax-managed sub-account if it is determined that the requested trade should be deferred; and selecting by the at least one computer, said deferred trade in said tax-managed sub-account for execution if it is determined that said deferred trade should no longer be deferred using said lot matrix and said taxation rules. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20)
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21. A data processing system for managing one or more financial objects comprising:
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at least one computer processor; instructions for managing a virtual portfolio of the financial objects by the at least one computer processor wherein said virtual portfolio comprises a collection of the financial objects managed collectively but tracked separately with separately owned lots on behalf of a plurality of investors; a computer database accessible by the at least one computer processor associating a plurality of lots of said plurality of investors and associating said plurality of lots as tradable regardless of an initiator of the purchase of one of said plurality of lots; and a computer memory coupled to the at least one computer processor and having program instructions stored therein, the at least one computer processor programmed to execute said program instructions, said program instructions comprising; lot selection rules; instructions for receiving by the at least one computer processor a requested trade, and selecting a lot for trading from said plurality of lots using said computer database, said lot selection rules, and said requested trade; taxation rules; instructions for determining by the at least one computer processor if a trade using said selected lot should be deferred using said computer database and said taxation rules, and generating a deferred trade in a tax-managed sub-account if it is determined that said requested trade should be deferred; and instructions for selecting by the at least one computer processor a deferred trade in said tax-managed sub-account for execution if it is determined that said deferred trade should no longer be deferred using said computer database and said taxation rules. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28)
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29. A data processing system for managing one or more financial objects comprising:
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at least one computer processor; instructions for managing a plurality of virtual portfolios of the financial objects by the at least one computer processor with separate lots owned by one or more individual investors; a computer-implemented lot matrix database accessible by the at least one computer processor associating a plurality of lots with said plurality of virtual portfolios each lot of said plurality of lots tradable regardless of an initiator of purchase of said lot; and a computer memory coupled to the at least one computer processor and having program instructions stored therein, the at least one computer processor programmed to execute said program instructions, said program instructions comprising; lot selection rules; instructions for receiving by the least one computer processor one or more requested trades for each of said plurality of virtual portfolios; instructions for selecting by the at least one computer processor a lot from said plurality of lots for execution of said one or more requested trades using said lot selection rules, and said lot matrix database; instructions for determining by the at least one computer processor if said requested trade should be deferred using said lot matrix, taxation rules; and
said system programmed to generate a deferred trade in a tax-managed sub-account if it is determined that said requested trade should be deferred; andinstructions for selecting by the at least one computer processor a deferred trade in a tax-managed sub-account for execution if it is determined that said deferred trade should no longer be deferred using said lot matrix database and said taxation rules. - View Dependent Claims (30, 31, 32, 33, 34)
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35. A computer-implemented method of managing one or more financial objects, the method being executed on a data processing system, the method comprising:
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managing a virtual portfolio of the financial objects by at least one computer comprising a collection of the financial objects managed collectively but tracked separately with separately-owned lots on behalf of a plurality of investors; providing a computer database associating by the at least one computer, a plurality of holdings owned by each of said plurality of investors as tradable, regardless of an initiator of purchase of a holding; providing by the at least one computer, holding selection rules; receiving by the at least one computer, a requested trade; selecting by the at least one computer, a holding for trading from said plurality of holdings using said computer database, said holding selection rules, and said requested trade; determining by the at least one computer, whether a trade using said holding should be deferred using said computer database and said holding selection rules; and generating by the at least one computer, a deferred trade in a tax-managed sub-account associated with one investor of said plurality of investors using said holding if it is determined that said holding should be sold in order to realize a loss for said one investor, wherein a manager'"'"'s account is unaffected by said loss realized by sale of said holding. - View Dependent Claims (36, 37)
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38. A data processing system for managing one or more financial objects comprising:
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at least one computer processor; instructions for managing a virtual portfolio of the financial objects by the at least one computer processor comprising a collection of the financial objects managed collectively by the at least one computer processor but tracked separately with separate accounts on behalf of a plurality of investors; a computer-implemented database associating a plurality of holdings owned by each of said plurality of investors, wherein a holding may be traded regardless of an initiator of purchase of said holding; and a computer memory coupled to the at least one computer processor and having program instructions stored therein, the at least one computer processor programmed to execute the program instructions, the program instructions comprising;
at least one holding selection rule;
receiving a requested trade;
selecting a holding for trading from said plurality of holdings by said computer-implemented database, said holding selection rule, and said requested trade;
determining whether said trade using said holding should be deferred by said computer-implemented database and said holding selection rules; and
generating a deferred trade in a tax-managed sub-account associated with one investor of said plurality of investors using said holding if it is determined that said holding should be sold in order to realize a loss for said one investor, wherein a manager'"'"'s account is unaffected by said loss realized by sale of said holding. - View Dependent Claims (39, 40)
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41. A computer-implemented method of managing one or more financial objects, the method being executed on a data processing system, the method comprising:
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managing a plurality of virtual financial objects by at least one computer, comprising a collection of the financial objects managed collectively but tracked separately with separately-owned lots on behalf of one or more investors; providing a computer database associating by the at least one computer, a plurality of holdings owned by each of said one or more investors to separate managers in separate manager accounts wherein a holding may be traded regardless of an initiator of purchase of said holding; providing by the at least one computer, holding selection rules; receiving by the at least one computer, a requested trade; selecting by the at least one computer, said holding for trading from said plurality of holdings using said computer database, said holding selection rules, and said requested trade; determining by the at least one computer, whether said trade using said holding should be deferred using said computer database and said holding selection rules; and generating by the at least one computer, a deferred trade in a tax-managed sub-account associated with one investor of said one or more investors using said holding if it is determined that said holding should be sold in order to realize a loss for the investor, wherein a manager'"'"'s account is unaffected by said loss realized by sale of said holding. - View Dependent Claims (42, 43)
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44. A computer-implemented method of managing one or more financial objects, the method being executed on a data processing system, the method comprising:
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managing a plurality of virtual portfolios of financial objects by at least one computer comprising a collection of the financial objects managed collectively but tracked separately with separately-owned lots on behalf of a plurality of investors; providing a computer database associating by the at least one computer, a plurality of holdings owned by each of said plurality of investors to separate managers in separate manager accounts wherein a holding may be traded regardless of an initiator of purchase of said holding; providing by the at least one computer, holding selection rules; receiving by the at least one computer, a requested trade; selecting by the at least one computer, said holding for trading from said plurality of holdings using said computer database, said holding selection rules, and said requested trade; determining by the at least one computer, whether said trade using said holding should be deferred using said computer database and said holding selection rules; and generating by the at least one computer, a deferred trade in a tax-managed sub-account associated with one investor of said plurality of investors using said holding if it is determined that said holding should be sold in order to realize a loss for the one investor, wherein a manager'"'"'s account is unaffected by said loss realized by sale of said holding. - View Dependent Claims (45, 46)
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47. A data processing system for managing one or more financial objects comprising:
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at least one computer processor; instructions for managing a plurality of virtual portfolios of financial objects by the at least one computer processor comprising a collection of the financial objects managed collectively but tracked separately with separate accounts on behalf of one or more investors; a computer-implemented database accessible by the at least one computer processor associating a plurality of holdings owned by each of said one or more investors, wherein a holding may be traded regardless of an initiator of purchase of said holding; and a computer memory coupled to the at least one computer processor and having program instructions stored therein, the at least one computer processor programmed to execute the program instructions, the program instructions comprising;
at least one holding selection rule;
receiving a requested trade;
selecting a holding for trading from said plurality of holdings by said computer-implemented database, said holding selection rule, and said requested trade;
determining whether said trade using said holding should be deferred by said computer-implemented database and said holding selection rules; and
generating a deferred trade in a tax-managed sub-account associated with one investor of said one or more investors using said holding if it is determined that said holding should be sold in order to realize a loss for said one investor, wherein a manager'"'"'s account is unaffected by said loss realized by sale of said holding. - View Dependent Claims (48, 49)
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50. A data processing system for managing one or more financial objects comprising:
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at least one computer processor; instructions for managing a plurality of virtual portfolios of financial objects by the at least one computer processor comprising a collection of assets managed collectively but tracked separately with separate accounts on behalf of a plurality of investors; a computer-implemented database accessible by the at least one computer processor associating a plurality of holdings owned by each of said plurality of investors, wherein a holding may be traded regardless of an initiator of purchase of said holding; and a computer memory coupled to the at least one computer processor and having program instructions stored therein, the at least one computer processor programmed to execute the program instructions, the program instructions comprising;
at least one holding selection rule;
receiving a requested trade;
selecting a holding for trading from said plurality of holdings by said computer-implemented database, said holding selection rule, and said requested trade;
determining whether said trade using said holding should be deferred by said computer-implemented database and said holding selection rules; and
generating a deferred trade in a tax-managed sub-account associated with one investor of said plurality of investors using said holding if it is determined that said holding should be sold in order to realize a loss for said one investor, wherein a manager'"'"'s account is unaffected by said loss realized by sale of said holding. - View Dependent Claims (51, 52)
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Specification