Abstract: Systems and methods for compiling and analyzing bids from bidders in an auction offering of securities by an issuing company are disclosed. A data striper stripes bid data compiled from the bids of potential investors into a plurality of stripes according to an algorithm and a bid aggregation system aggregates the bid data in the stripes. The bid aggregation system may perform a first-level aggregation on the bid data in the data stripes for combinations of a plurality of attributes related to the bid data and/or a second-level aggregation based on the first-level aggregation. The auction management system may further comprise an analytics system for analyzing the aggregated bid data. The analytics system may receive user requests for analysis of the bid data, perform the analysis in real time based on the user inputs, and serve the results of the analysis to the user.

Abstract: A monitoring system for monitoring trade at an electronic exchange comprises memories related to a specific time interval. A trade occurring during that time interval or a parameter value related to the trade is recorded to a memory related to the time interval. At a point in time, a recent trade parameter is determined based on the accumulated trade parameter values in the memories. Based on the recent trade parameter and some rules and operators, one or more monitoring actions is executed.

Abstract: Online multi-variable/multi-party auctions coordinate homeowners, mortgage holders, and investors to refinance homes with underwater mortgages, being initiated by homeowner/mortgage holder registration within the website. Registration triggers email invitations with access to personalized bidding platforms. Auctioning comprises bidding for a new total loan amount equaling/exceeding current fair market values, and/or matching interest rate bids by investors, who may risk share therein, with homeowner monthly payment bids. Auction completion requires homeowner, lien holder(s), and investor(s) acceptance, resulting in mutual rescission of original loan agreement(s). Electronic closings create Time-Out Mortgages, which are recorded, and Home Certificates—a hybrid security being a combination promissory note (with additional benefits) and agreement for sharing a “Deferred Recapture Amount,” being a difference between the new principal loan amount and prior total home lien amounts.

Abstract: Methods, systems, and machine-readable media are disclosed for utilizing mobile electronic devices in various types of financial transactions. According to one embodiment, a method of providing a plurality of mobile commerce functions can comprise receiving a communication related to a function of a mobile wallet application of a mobile device. One or more of a plurality of acquirer systems for handling of the communication can be identified based on the function of the mobile wallet application to which the communication relates. The communication can be routed to the identified one or more acquirer systems for handling of the communication. In some cases, a reply to the communication can be received from at least one of the identified one or more acquirer systems and the reply can be sent to a recipient.

Abstract: A method of order allocation is disclosed. The method includes receiving an incoming order, establishing an inner market representing a first portion of an order book which may be defined as a function of an inner market parameter, designating the first portion of the order book as a priority and allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order book that includes the remainder of the order book not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a first-in, first-out (FIFO) algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm.

Abstract: Embodiments of the present invention provide systems, methods, and computer program products for modifying the terms of a loan and for providing for a shared appreciation loan program. For example, in one embodiment the amount owed on an existing HELOC is split into two portions. A qualifying borrower can defer the obligation to pay interest and payments on a portion of the HELOC in exchange for sharing up to 50% of the future appreciation in the real property that serves as the underlying security for the HELOC. This mortgage plan can provide an incentive for the borrower to remain in the home since the borrower may be able to share in the appreciation of the home even if the home never appreciates beyond the full amount owed on the home, while at the same time preserving the borrower's financial commitment rating and reducing the borrower's monthly payment.

Abstract: There is provided a computer-implemented method of estimating a capital reserve requirement to cover the longevity risk exposure of a financial instrument in the case of a future longevity shock, the financial instrument undertaking to pay to an investor sums according to a payment schedule of amounts arranged to match with the future cash flow obligations of a pension scheme to at least a portion of its members.

Abstract: Systems and methods are provided to fulfill customer trading orders in an illiquid two sided market. Request for cross functionality may be implemented in a trading environment using a trading engine for the matching of trades involving financial instruments. Request for cross functionally integrates the benefits of a dual bid-ask continuous trading market model with the price and quantity trade matching systems and methods.

Abstract: A method for verifying a portable consumer device. The method includes receiving an authorization request message associated with a transaction conducted using a portable consumer device. The portable consumer device includes a portable consumer device fingerprint. The authorization request message includes an altered portable consumer device fingerprint and an algorithm identifier. The method also includes selecting an algorithm from among a plurality of algorithms using the algorithm identifier, determining the portable consumer device fingerprint using selected algorithm and the altered portable consumer device fingerprint, determining if the portable consumer device fingerprint matches a stored portable consumer device fingerprint, and sending an authorization response message after determining if the portable consumer device fingerprint matches the stored portable consumer device fingerprint.

Abstract: A method for detecting against unauthorized transmission of digital works comprises the steps of maintaining a registry of information permitting identification of digital copyrighted works, monitoring a network for transmission of at least one packet-based digital signal, extracting at least one feature from the at least one digital signal, comparing the extracted at least one feature with registry information and applying business rules based on the comparison result.

Abstract: Methods for applying end user specified preset parameters to use a ratio and/or an amount threshold to pay a portion of, or leave wholly unpaid, a posted point of sale (POS) transaction amount, and/or not pay a portion or an entire posted POS transaction amount, among a plurality of posted POS transaction amounts posted to an initial credit balance, wherein an unpaid portion of, or an entire amount of, a POS transaction amount remains unpaid as a partial, or wholly remaining, debit to said initial credit balance; and wherein a credit balance provider of said initial credit balance pays product or service providers for POS transaction amounts pertaining to pos transactions for products or services provided to an end user.

Abstract: A Monte Carlo simulation engine configured to perform a primary beneficiary test to determine whether a variable interest entity holder is a primary beneficiary of a financial instrument. The engine includes a cash flow engine configured to generate a set of default/prepayment curves representing one or more discrete cash flow scenarios for one or more loans for the financial instrument, the default/prepayment curves representative of systemic risk associated with the financial instrument. The engine further includes an idiosyncratic risk module configured to convert the set of default/prepayment curves defined by the cash flow engine into a number of occurrences, which, at an aggregated level, mimic the default/prepayment curve from a systemic risk model.

Abstract: A computer-automated system analyzes payment options by acquiring usage information from a resource utilization measurement monitor executing in a system and accessing current financial information relating to a plurality of payment options from a financial database. Financial effect is evaluated for the plurality of payment options that result for the acquired usage information.

Abstract: An apparatus, system, and method are disclosed for an asset backed purchase card. The present invention includes a house account comprising one or more assets, each of the one or more assets having a substantially continually updated spot purchase price. The invention receives funds from a consumer in exchange for a portion of the one or more assets from the house account based on an internal spot price of the asset, increasing a balance in a purchase account of the consumer. The purchase account is debited by selling a quantity of the asset backing the purchase account balance to the house account based on the internal spot price of the asset in response to a transaction based on a purchase card purchase by the consumer.

Abstract: A loan is secured by insurance policy collateral between a lender, borrower with the insurance policy, and an intermediary. The intermediary establishes a securities account and holds the insurance policy, which designates the borrower as the beneficial owner and the intermediary as the record owner. The lender disburses the loan proceeds to the borrower. In the event the lender notifies the intermediary of a default, the intermediary is obligated to modify the insurance policy by designating the lender as the beneficial owner of the policy, thereby enabling the lender to control the policy. The lender, for example, may make premium payments upon the policy, or order the intermediary to sell the policy.

Abstract: A solution for conducting an auction, such as an online auction, is provided, which includes provisions for sharing with bidders a portion of a bid. A method for conducting the auction includes identifying an item for auction; receiving a first bid for the item placed at a first time; receiving a second bid for the item placed at a second time, wherein the second bid exceeds the first bid by a bid increment and the second time is different than the first time by a time increment; and assigning a portion of the second bid for distribution to at least one participant of the auction. In various embodiments, the portion may be assigned to all bidders, the winning bidders, only the non-winning bidders, and/or the like. The distribution of the portion may be time and/or bid amount related.

Abstract: A system and method for facilitating, coordinating and managing the operation of a competitive marketplace via the Internet. The system and method collect bids for market services from a plurality of customers, calculators a clearing piece for the market service and calculates settlement information based on the clearing piece calculated and the bids collected.

Abstract: A computer-implemented method of providing advertising to a client includes establishing a billing experience between a client and a provider, providing advertising opportunities to the client on at least one of a continual basis and a periodic basis, evaluating a credit risk associated with the client at least one of periodically and upon occurrence of an event, and modifying the billing experience automatically based on the credit risk associated with the client.

Abstract: An improved claim mediation process includes an automated feature permitting a software package to act as the mediator based upon a predetermined rule set. Open offers are made by both sides, but kept secret from the opposing party are criteria by which the offer can be adjusted and still be acceptable to that party. The system takes into account the open offers and the confidential adjustment criteria and, if possible according to the predetermined rule set, calculates and displays a settlement amount.

Abstract: Systems and methods for processing commercial financial transactions are provided. In one aspect, a method for processing a commercial financial transaction between a customer and a merchant is provided. The method includes approving a customer for receiving a financing package for engaging in the commercial financial transaction with a merchant, and issuing the financing package to the customer from the originator, wherein the financing package includes a check having a plurality of security features and a security agreement between the customer and the originator.