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AssigneePowerLoom Corporation d/b/a Dynamix Technologies
InventorsPhilip J. Hayes, Eugene Fink, Ganesh Mani
Estimating the term…
The present invention is directed to a method of matching a data record with a reference record. The method comprises receiving the data record; searching stored reference records for a reference record that is an exact match for the received data record; and if an exact matching reference record is not found, calculating a distance between the received data record and at least one stored reference record, and determining the at least one stored reference record to be an approximate match if the calculated distance is less than a pre-determined threshold. The inventive method and system can be used in a number of applications, including invoice processing in an Accounts Payable system, record conciliation in a securities trading system, finding preferred bonds in a bond trading system, etc. Approximate matching records are ranked, and the closest match, or highest ranking match, may be automatically processed if within a predetermined threshold.
A method of matching a data record with a reference record in a system, comprising:
A computer-readable medium containing instructions that cause a computer to process a data record in a matching system, said medium comprising:
A method of determining a record distance between a reference record and an incoming record, wherein the reference record has at least one field and the incoming record has at least one field, comprising:
A computer-readable medium for determining a record distance between a reference record and an incoming record, wherein the reference record has at least one field and the incoming record has at least one field, said medium comprising:
Dependencies are inferred from the claim text.
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Finance; Insurance; Tax strategies; Processing of corporate or income taxes: trading; Exchange, e.g. stocks, commodities, derivatives or currency…
Specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems: bill distribution or payments
Finance
Information and communication technology [ict] specially adapted for administrative, commercial, financial, managerial
Term end not estimated
The present invention generally relates to a computer-based method and system for finding approximate matches for a query. In particular, the system and method of the present invention provides for fine-grained measurement of approximate matches, as well as user control of the manner in which the measurements are made. The present invention provides for automatic processing of approximately matched data records in addition to facilitating more efficient manual processing of inexact matches.
The ability to automatically match data records to make electronic transactions is important in today's business world. For example, the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotations (NASDAQ) rely on computer systems to automatically match a buyer's “bid” and a seller's “ask” in order to make automatic, real-time transactions. These and other electronic equity exchange platforms have demonstrated the efficiencies that can be acquired through the use of an electronic exchange marketplace that automatically matches the needs of buyers with available market supply in a constantly changing marketplace.
The automatic matching of a buyer's “bid” and a seller's “ask” in the equities market is conceptually simple. By searching through all the orders for a particular stock, it is a matter of finding a bid price that matches an ask price, then ensuring that the number of shares is sufficient to meet the needs of both parties. The deal is consummated and automatically executed.
The accompanying drawings, which are included to provide a further understanding of the invention and are incorporated in and constitute a part of this specification, illustrate embodiments of the invention and together with the description serve to explain the principles of the invention.
FIG. 1 illustrates out-of-range, near-matches and exact matches of a query of multi-dimensional space;
FIG. 2 illustrates an example of programmable measure of field distance;
Reference will now be made in detail to the embodiments of the invention, examples of which are illustrated in the accompanying drawings. Wherever possible, the same reference numbers will be used throughout the drawings to refer to the same or like components.
The embodiments of the invention include a matching engine that can continuously query a static or streaming collection of data in real-time in order to perform exact and approximate matching of complex data. The inventive matching engine ranks the matches according to how well the data matches the query, thereby enabling the automatic execution of electronic transactions or other processing based on matching, or nearly matching, data.
It is worthy to note that any reference in the specification to “one embodiment” or “an embodiment” means that a particular feature, structure or characteristic described in connection with the embodiment is included in at least one embodiment of the invention. The appearances of the phrase “in one embodiment” in various places in the specification are not necessarily all referring to the same embodiment.