US 7,610,238 B2Granted

Credit management for electronic brokerage system

AssigneeEBS Dealing Resources, Inc.

InventorsMichael Togher, Michael F. Dunne, Richard Hartheimer

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Abstract

An anonymous trading system (FIG. 1) identifies the best bids and offers (QuoteSubmit, FIG. 3) from those counterparties (WS A1a1) with which each party (WS A1b1, WS A1b2, . . . . WSA2a2) is currently eligible to deal, while maintaining the anonymity of the potential counterparty and the confidentiality of any specific credit limitations imposed by the anonymous potential counterparty. To that end, each bid or offer (QuoteSubmit, FIG. 3) for a particular type of financial instrument is prescreened by the system for compatibility with limited credit information (for example, a one bit flag indicating whether a predetermined limit has already been exceeded) and an anonymous “Dealable” price (24,26) is calculated for each of the traders (WS A1b, . . . WS A2a) dealing with that particular financial instrument.

Claims24

Dependent claims

A computerized method of allowing traders to trade financial instruments at a plurality of trading floors, some, but not all, of the trading floors being credit bearing counter-parties which extend bilateral credit to one another, at least one of the trading floors being associated with one or more taker screens at which a trader can trade the financial instruments, at least a first of the taker screens displaying at least quotes made by other trading floors and permitting a trader using the first taker screen to accept certain ones of the quotes, the first taker screen having a best dealable price area and a best market price area, the method comprising:

displaying in the best market price area of the first taker screen of the computerized trading system the best market quote made by one or more traders at any of the trading floors irrespective of whether or not the quote originated from a trading floor which is a credit bearing counter-party to the trading floor with which the first taker screen is associated;
simultaneously displaying in the best dealable price area of the first taker screen the best dealable quote made by one or more credit bearing counter-parties of the trading floor with which the first taker screen is associated whereby the best dealable quote has been prescreened for credit;
and
permitting the trader using the first taker screen to accept the best dealable quote displayed in the best dealable price area but preventing that trader from accepting the best market quote displayed in the best market price area.

1 more element

Dependencies are inferred from the claim text.

Facts

Application: 11/146,073Filed 7 Jun 2005 · continuation
Priority: 3 Feb 1992
Published: US 2005/0228748 A113 Oct 2005
Granted: 27 Oct 2009
Term ends: Not estimatedThe source records don’t support an estimate.

Classification7 codes

H04L 12/1804
For broadcast or conference , e.g. multicast: for stock exchange and similar applications
G06Q 30/08
Buying, selling or leasing transactions: auctions
G06Q 40/00
Finance
G06Q 40/03
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: credit; Loans; Processing thereof

Family

Application07/830,408Parent of this continuation · filed 3 Feb 1992
Application08/324,843Parent of this continuation · filed 18 Oct 1994
Application08/665,594Parent of this continuation · filed 18 Jun 1996
Application09/169,884Parent of this continuation · filed 12 Oct 1998
Application09/563,461Parent of this continuation · filed 2 May 2000
US 2005/0228748 A1Pre-grant publication · published 13 Oct 2005
US 6,985,883 B1Parent of this continuation
US 6,014,627 AParent of this continuation
US 5,375,055 AParent of this continuation
US 7,610,238 B2This patent

From the US filing history. Foreign family members aren’t listed.

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