US 2018/0025424 A1 · SYSTEM AND METHOD FOR ELECTRONIC DATA SUBMISSION PROCESSING

Abstract

Electronic submissions, such as those for capital markets, are processed by evaluating the data contained in the electronic submissions against failure conditions. The failure conditions may include a static failure condition and a scalar failure condition. The static failure condition identifies a data element that is to be present or absent for the static failure condition to be met. The scalar failure condition identifies data that is to conform to an inequation for the scalar failure condition to be met. The electronic submission can be approved upon completion of the evaluation when all failure conditions are not met. The electronic submission can be thus approved with no human analyst intervention or review needed. When one or more failure condition is met, the electronic submission requires further analysis. Specific advantageous failure conditions are discussed. Feedback can be employed to increase approvals that trigger no failure conditions.

Claims46

Dependent claims

A method of updating a database with data pertaining to capital market transactions or events, the method comprising:

a server receiving via a network an electronic submission containing data for a capital market transaction or event requiring one or more of review and approval by a market entity, the data according to a predetermined structure, the server storing the data in a database;
evaluating the data contained in the electronic submission against a plurality of failure conditions, the plurality of failure conditions including at least one scalar failure condition, the at least one scalar failure condition identifying data that is to conform to an inequation for the scalar failure condition to be met;
processing the electronic submission upon completion of the evaluation when each failure condition of the plurality of failure conditions is not met;
upon successfully processing the electronic submission, updating the database to indicate that the submission has been successfully processed;
and
when one or more failure conditions of the plurality of failure conditions is met, then updating the database to indicate that the data requires further analysis.

3 more elements

A system for processing data pertaining to capital market transactions or events, the system comprising:

a network interface configured to receive data of an electronic submission from a submitter terminal over a network, the electronic submission pertaining to a capital market transaction or event requiring one or more of review and approval by a market entity;
a validation engine coupled to the network interface, the validation engine configured to issue a prompt to the submitter terminal for data that fails validation;
a database for storing the data of the electronic submission;
and
a review and approval engine coupled to the network interface, the review and approval engine configured to evaluate the data contained in the electronic submission against a plurality of failure conditions, the plurality of failure conditions including at least one scalar failure condition, the at least one scalar failure condition identifying data that is to conform to an inequation for the scalar failure condition to be met;
the review and approval engine further configured to process the electronic submission upon completion of the evaluation when each failure condition of the plurality of failure conditions is not met;
the review and approval engine further configured to update the database to indicate that the submission has been successfully processed upon successfully processing the electronic submission;
and
the review and approval engine further configured to update the database to indicate that the data requires further analysis when one or more failure conditions of the plurality of failure conditions is met.

6 more elements

Dependencies are inferred from the claim text.

System and method for electronic data submission processing

Life of this patent

System and method for electronic data submission processing

Life of this patent

Abstract

Claims46