Systems and methods for automated repurchase agreement matching
AssigneeThe Bank of New York Company, Inc.
InventorsMichael Schroeder, James Malgieri, Charles Austin
Life of this patent
Estimating the term…
Abstract
A system and method for facilitating tri-party repurchase (or other) agreement transactions. A dealer or trader sends instructions to an intermediary third party characterizing a previously agreed-upon set of terms for a repurchase agreement between the dealer and an investor. The parties can thereafter approve or reject the deal allegement via an on-line system. In addition to, or instead of, dealer or investor approval, an instruction matching utility is provided to automatically or substantially automatically match instructions received from dealers and investors related to a plurality of deal allegements. In either case the status of the trade will be displayed to all parties.
Claims23
A method of providing tri-party transaction services, comprising:
- receiving, at a third party intermediary, instructions from a first party regarding terms of an agreement allegement previously agreed upon between the first party and a second party;
- storing the terms of the agreement allegement as stored terms of the agreement allegement;
- presenting at least a portion of the stored terms of the agreement allegement to the second party;
- receiving, at the third party intermediary, an indication of approval of the stored terms of the agreement allegement from the second party;
- and
- in response to said indication of approval, clearing the agreement allegement as a finalized agreement between the first party and the second party.
A method of providing tri-party repurchase agreement transaction services, comprising:
- receiving first party instructions from a first party characterizing a repurchase agreement transaction between the first party and a second party, the first party instructions being received by an intermediary third party;
- receiving, by the third party, second party instructions from the second party, the second party instructions putatively characterizing said financial transaction between the first party and the second party;
- the third party storing the first party instructions and the second party instructions;
- the third party comparing the first party instructions to the second party instructions;
- and
- when at least a subset of the first party instructions and the second party instructions match each other, processing the first and second party instructions as an agreed-to repurchase agreement.
A system for processing tri-party repurchase agreements, comprising:
- a database in which terms of a repurchase agreement allegement are stored;
- an administrator component having access to the database;
- and
- an automatic instruction matching utility in communication with at least the database, the automatic instruction matching utility being operable to compare stored terms of the repurchase agreement allegement with instructions received from a party to the and further being operable to determine whether said instructions match said terms of the repurchase agreement allegement and to declare that said a binding.
Dependencies are inferred from the claim text.