US 2004/0167847 A1 · System and method for trading financial instruments using speech

Abstract

A system and method automatically provides financial information to a client without requiring a service representative, increasing the efficiency and accuracy of a financial service transaction when compared to conventional systems, enabling a client to easily and efficiently provide information to the financial service provider, and enabling a financial service provider to easily and efficiently perform various financial services for a client automatically, including complex financial transactions. The system includes a speech processor that receives a speech signal spoken by a user into a telephone and identifies the term spoken by the user by comparing the received signal with a predefined vocabulary. The speech applications interpret the recognized term and, after receiving the necessary information, the speech applications perform a requested financial service transaction and provide information to the user regarding this transaction via the telephone system. Some of the financial service transactions supported by the present invention include, providing stock quotes, providing mutual fund quotes, providing option quotes, providing account information, trading stocks, trading mutual funds, and trading options. In addition, the present invention utilizes the speech recognition technology to provide a security system that prevents unauthorized access to a financial account.

Claims15

Dependent claims

A computer-implemented method of trading at least one financial instrument, comprising:

receiving at a computer system at least one spoken identifier of a user;
establishing an identity of the user responsive to at least one of the at least one spoken identifier;
receiving at least one spoken command to trade at least one financial instrument, between a user whose identity was established and at least one other party capable of trading that at least one financial instrument;
identifying a type of trade and at least one financial instrument the user wishes to trade responsive to the at least one spoken command and a set of spokenopita, comprising:
speech recognition elements useful for recognizing terms a speaker is most likely to speak at such time as the speaker wishes to trade at least one financial instrument, comprising at least one term indicating the speaker wishes to buy a financial instrument and at least one term indicating the speaker wishes to sell a financial instrument;
and
speech recognition elements useful for recognizing a plurality of identifiers for each of a plurality of financial instruments capable of being traded;
establishing a validity of at least one of the type of trade and the at least one financial instrument the user wishes to trade;
and
responsive to the establishing the validity step and the establishing the identity step, performing the type of trade for the at least one financial instrument.

7 more elements

A system for trading at least one financial instrument, comprising:

an identifier subsystem having an input for receiving at least one spoken identifier of a user, the identifier subsystem for establishing an identity of the user responsive to the spoken identifier;
a selector having an input for receiving at least one spoken command to trade at least one financial instrument between a user whose identity was established and at least one other party capable of trading that at least one financial instrument, the selector for identifying a type of trade responsive to the spoken command and a set of spokenopita received at a spokenopita input, the spokenopita comprising:
speech recognition elements useful for recognizing terms a speaker is most likely to speak at such time as the speaker wishes to trade at least one financial instrument, comprising at least one term indicating the speaker wishes to buy a financial instrument and at least one term indicating the speaker wishes to sell a financial instrument;
and
speech recognition elements useful for recognizing a plurality of identifiers for each of a plurality of financial instruments capable of being traded;
and
a trader coupled to the selector and the identifier subsystem having an input for receiving at least one spoken identifier of at least one financial instrument the user wishes to trade, the trader for:
identifying the at least one financial instrument responsive to the at least one identifier and the set of spokenopita;
establishing a validity of at least one of the type of trade and the at least one financial instrument the user wishes to trade;
and
responsive to the validity established and the identity of the user, performing the type of trade for the at least one financial instrument.

8 more elements

Dependencies are inferred from the claim text.

System and method for trading financial instruments using speech

Life of this patent

System and method for trading financial instruments using speech

Life of this patent

Abstract

Claims15