Settling obligations via netting transactions
AssigneeR3 Ltd.
InventorDavid Hudson
Life of this patent
Estimating the term…
Abstract
A system is provided for netting obligations between entities of a cycle of obligations. Each obligation specifying an quantity of an item that a from-entity of the cycle is obligated to provide to a to-entity of the cycle. For each entity, the system determines whether the sum of its inventory of the item and the quantity of the obligation on which it is a to-entity is sufficient to satisfy the obligation on which it is a from-entity. When sufficient, the system identifies one or more netting transactions to settle the obligations of the cycle. The system then directs the execution of the netting transactions and settlement transactions to effect and record the settling of the obligations.
Claims13
A method performed by a computing system for settling obligations between entities of a cycle of obligations, each obligation specifying a quantity of an item that a from-entity of the cycle is obligated to provide to a to-entity of the cycle, the quantity of an obligation being an output quantity from the from-entity and an input quantity to the to-entity, each entity having an inventory of a quantity of the item, the method comprising:
- for each entity, determining whether the inventory and the input quantity of the entity are sufficient to provide the output quantity of the entity;
- and
- when the inventory and the input quantity of each entity are sufficient to provide the output quantity of each entity,
- identifying one or more netting transactions to settle the obligations of the cycle;
- and
- executing the netting transactions and settlement transactions to effect and record the settling of the obligations.
A method performed by one or more computing systems for identifying obligations of entities, each entity having a network node in a network, the method comprising:
- under control of an initiator network node of an initiator entity, identifying first obligations that the initiator entity shares with first entities;
- sending a scan request to first network nodes of one or more first entities;
- and
- receiving a scan response from one or more first network nodes identifying first obligations of entities;
- and
- under control of a receiving network node of a receiving entity,
- receiving from a sending network node a scan request;
- identifying second obligations that the receiving entity shares with second entities;
- sending a scan request to second network nodes of one or more second entities;
- receiving a scan response from one or more second network nodes identifying second obligations of entities;
- and
- sending to the sending network node a scan response identifying the second obligations.
A method performed by a computing system for netting obligations of a cycle of obligations of entities, each obligation specifying an obligation quantity, each entity having an inventory, the method comprising:
- determining whether netting transactions can settle the obligations between the entities;
- and
- when the netting transactions can settle the obligations between the entities,
- generating one or more netting transactions to settle the obligations of the entities;
- and
- executing the netting transactions.
Dependencies are inferred from the claim text.