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Title: US5262942: Financial transaction network
[ Derwent Title ]


Country: US United States of America

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20 pages

 
Inventor: Earle, Dennis M.; Secaucus, NJ

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

Application Number: US1990000533649

IPC Code: Advanced: G06Q 40/00;
IPC-7: G06F 15/20; G06G 7/52;

ECLA Code: G06Q40/00; G06Q40/02; G06Q40/04; G06Q40/06;

U.S. Class: Current: 705/037; 705/035; 706/925;
Original: 364/408; 395/925;

Field of Search: 364/408,225,918,918.2,918.9,401 395/925

Priority Number:
1990-06-05  US1990000533649

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.

Attorney, Agent or Firm: Sughrue, Mion, Zinn Macpeak & Seas ;

Primary / Asst. Examiners: Envall, Jr., Roy N.; Brutman, Laura

Maintenance Status: E3 Expired  Check current status

INPADOC Legal Status: Show legal status actions

Family: None

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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Forward References: Show 266 U.S. patent(s) that reference this one

       
U.S. References: Go to Result Set: All U.S. references   |  Forward references (266)   |   Backward references (7)   |   Citation Link

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Patent  Pub.Date  Inventor Assignee   Title
Get PDF - 118pp US4334270  1982-06 Towers   Securities valuation system
Get PDF - 27pp US4823265  1989-04 Nelson   Renewable option accounting and marketing system
Get PDF - 44pp US4903201  1990-02 Wagner  World Energy Exchange Corporation Automated futures trading exchange
Get PDF - 34pp US4953085  1990-08 Atkins  Proprietary Financial Products, Inc. System for the operation of a financial account
Get PDF - 19pp US5101353  1992-03 Lupien et al.  Lattice Investments, Inc. Automated system for providing liquidity to securities markets
Get PDF - 20pp US5126936  1992-06 Champion et al.  Champion Securities Goal-directed financial asset management system
Get PDF - 12pp US5132899  1992-07 Fox   Stock and cash portfolio development system
       
Foreign References: None

Other References:
  • "Software Packages Assist Diverse Needs of Bond Portfolio Managers", Wall Street Computer Review, Jun. 1985, pp. 61-65.


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