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US 8,799,142 B1Granted
Currency trading platform with improved risk management
AssigneeFxdirectdealer, LLC
InventorShawn Vulte Dilkes
Life of this patent
Estimating the term…
Abstract
Systems, methods and software for processing and displaying information associated with a plurality of currency exchange transactions to a forex dealer in real time, i.e. substantially simultaneously with the receipt or placement of the associated transactions orders or position requests.
Claims20
A method of displaying information associated with currency exchange transactions in real time, comprising:
- receiving with a computer a plurality of currency exchange orders from a set of customers, each order characterized by a currency pair including a base currency to be exchanged for a counter currency, a customer exchange rate for the currency pair provided by a trader to the respective customer, an amount of currency to be exchanged, and an indication of whether the base currency is to be bought or sold;
- determining with a processor of the computer, substantially simultaneously with receiving the orders, a cumulative amount of the base currency of each currency pair to be exchanged in all of the orders;
- determining with the processor, substantially simultaneously with receiving the orders, a cumulative amount of the counter currency of each currency pair to be exchanged in all of the orders;
- determining with the processor, substantially simultaneously with receiving the orders, an instantaneous potential profit associated with the orders, based on the cumulative amount of the base currency of each currency pair to be exchanged, based on the cumulative amount of the counter currency of each currency pair to be exchanged, based on the customer exchange rates for each currency pair provided by the trader to each customer, and based on dealer exchange rates for each currency pair provided to the trader by at least one financial institution;
- receiving with the computer information sufficient to assign each customer of the set to one of a plurality of groups, including at least a high risk group and a low risk group;
- receiving with the computer information sufficient to select a subset of the groups to which to restrict the instantaneous potential profit to be displayed;
- and
- displaying on a graphical user interface of the computer, substantially simultaneously with receiving the information sufficient to select the subset, the instantaneous potential profit associated only with the orders received with the computer from the customers in the selected subset.
5 more elements
A system for managing currency exchange transactions, comprising:
- a computer including a processor configured to calculate profit and risk information relating to a plurality of currency exchange transactions substantially in real time, and a graphical user interface configured to display the profit and risk information;
- a first electronic communication channel configured to transmit customer currency exchange orders to the computer;
- and
- a second electronic communication channel configured to transmit dealer currency exchange orders from the computer to at least one financial institution;
- wherein each currency exchange order is characterized by a currency pair including a base currency to be exchanged for a counter currency, a customer exchange rate for the currency pair, an amount of currency to be exchanged, and an indication of whether the base currency is to be bought or sold;
- wherein the processor is configured to calculate, substantially simultaneously with receiving the customer currency exchange orders:
- (i) a cumulative amount of the base currency of each currency pair to be exchanged in all of the customer currency exchange orders;
- (ii) a cumulative amount of the counter currency of each currency pair to be exchanged in all of the customer currency exchange orders;
- and
- (iii) an instantaneous potential profit associated with the customer currency exchange orders, based on the cumulative amount of the base currency of each currency pair to be exchanged, the cumulative amount of the counter currency of each currency pair to be exchanged, the customer exchange rates provided by a dealer to each customer, and dealer exchange rates provided by a financial institution to the dealer;
- wherein the computer is configured to receive a group indicator for each customer associating each customer with one of a plurality of groups, including at least a high risk group and a low risk group;
- wherein the computer is configured to receive subset selection information corresponding to a dealer's selection of a subset of the groups;
- and
- wherein the computer is configured to display on the graphical user interface, substantially simultaneously with selection of the subset of the groups, the instantaneous potential profit associated with each currency pair and corresponding to the customer orders received with the computer from the customers in the selected subset.
11 more elements
A non-transitory machine-readable medium containing program instructions for determining risk associated with currency exchange transactions between a customer, a dealer and a financial institution, wherein execution of the program instructions by one or more processors of a computer system causes the processors to carry out the steps of:
- receiving a plurality of currency exchange orders from customers, each order characterized by a currency pair including a base currency to be exchanged for a counter currency, a customer exchange rate for the currency pair, an amount of currency to be exchanged, and an indication of whether the base currency is to be bought or sold;
- determining, substantially simultaneously with receiving the orders, a cumulative amount of the base currency of each currency pair to be exchanged in all of the orders;
- determining, substantially simultaneously with receiving the orders, a cumulative amount of the counter currency of each currency pair to be exchanged in all of the orders;
- determining, substantially simultaneously with receiving the orders, an instantaneous potential profit associated with each currency pair, based on the cumulative amount of the base currency of each currency pair to be exchanged, based on the cumulative amount of the counter currency of each currency pair to be exchanged, based on the customer exchange rates for each currency pair provided by a dealer to each customer, and based on dealer exchange rates for each currency pair provided to the dealer by at least one financial institution;
- receiving a group indicator assigning each of the customers to one of a plurality of groups, including at least a high risk group and a low risk group;
- receiving a subset selection indicator corresponding to selection of a subset of the groups;
- and
- displaying on a graphical user interface of the computer system, substantially simultaneously with selecting the subset of the groups, the instantaneous potential profit associated with each currency pair and corresponding to the orders received with the computer system from the customers in the selected subset.
5 more elements
Dependencies are inferred from the claim text.