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 Title: |
US5262942:
Financial transaction network
[ Derwent Title ]
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| Country: |
US United States of America
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| Inventor: |
Earle, Dennis M.; Secaucus, NJ
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| Assignee: |
Bankers Trust Company, New York, NY
other patents from BANKERS TRUST COMPANY (52655) (approx. 10)
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| Published / Filed: |
1993-11-16
/ 1990-06-05
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| Application Number: |
US1990000533649
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| IPC Code: |
Advanced:
G06Q 40/00;
IPC-7:
G06F 15/20;
G06G 7/52;
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| ECLA Code: |
G06Q40/00; G06Q40/02; G06Q40/04; G06Q40/06;
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| U.S. Class: |
Current:
705/037;
705/035;
706/925;
Original:
364/408;
395/925;
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| Field of Search: |
364/408,225,918,918.2,918.9,401
395/925
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| Priority Number: |
| 1990-06-05 |
US1990000533649 |
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| Abstract: |
A financial transaction network employs a shareholder network serviced by a host processor. The financial network maintains (n) number of mutual fund portfolios operating in different currencies. The host processor acts a communications switch validating incoming transaction requests and routing them to a central Transfer Agent system for execution. The host processor maintains central records that can be queried through the host. The Transfer Agent is responsible for updating the database. The financial network provides accessibility, speed and finality of settlement in transactions by using mutual fund shares in diverse currencies as substitutes for those currencies.
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| Attorney, Agent or Firm: |
Sughrue, Mion, Zinn Macpeak & Seas ;
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| Primary / Asst. Examiners: |
Envall, Jr., Roy N.; Brutman, Laura
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| Maintenance Status: |
E3 Expired Check current status
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| INPADOC Legal Status: |
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| Family: |
None
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First Claim:
Show all 23 claims |
Having described the invention, I claim:
1. A financial network for facilitating commercial transactions with immediate finality of settlement through the use of mutual fund shares as currency equivalents comprising:
- a plurality of shareholder workstations:
- a host processor accessed by said shareholder workstations for processing transaction instructions and maintaining account status information:
- said host processor including database means for maintaining records of shareholder accounts including transactions:
- means for establishing (n) currency portfolios, said portfolios each managed by an investment advisor, said shareholder workstations accessing said host processor to effectuate instructions for making transactions in any of (n) portfolios, means linked to said host processor to provide information on receipt of shareholder assets, and transfer agent means responsive to said host processor for completing transactions having immediate finality of settlement when authorized by said host processor, said transfer agent means updating said database with data on completed transactions.
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| Background / Summary: |
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| Drawing Descriptions: |
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| Description: |
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| Forward References: |
Show 225 U.S. patent(s) that reference this one
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