Patents Examined by Narayanswamy Subramanian
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Patent number: 8751401Abstract: A computerized system and method for securely authorizing and distributing stored-value card data over a communications network is provided. The method allows for storing in the database a plurality of records comprising stored-value card data for each stored-value card as well as information identifying a plurality of trusted sources of stored-value card activation requests and/or a plurality of trusted communications networks for transmitting stored-value card activation requests. A transmitting step allows for a requesting terminal to transmit over a communications network a request to change the status of a stored-value card. The central processor then determines whether the requesting terminal and/or the communications network is a trusted source. Based on whether the requesting terminal or communications network is a trusted source or trusted communications network, the request can be processed and the card can be activated.Type: GrantFiled: February 21, 2014Date of Patent: June 10, 2014Assignee: e2interactive, Inc.Inventors: Phillip Craig Graves, Merrill Brooks Smith
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Patent number: 8738408Abstract: A method for rating insurance products using a programmed computer system comprising: receiving a coordinate pair comprising a longitude and a latitude of a location; determining a target coordinate grid block bounded by latitude and longitude lines, which grid block is associated with the coordinate pair; querying a database for a first set of existing data associated with the target coordinate grid block, wherein the existing data was associated with the target coordinate grid block prior to receiving the coordinate pair; querying a database for a second set of existing data associated with a regulator, which regulates insurance policies in a geographic area comprising the location; and calculating a pure premium based on constant values and an analysis of the data in the first set and the second set.Type: GrantFiled: March 27, 2013Date of Patent: May 27, 2014Assignee: State Farm Mutual Automobile Insurance CompanyInventors: Curt Stewart, Matthew T. Frank, Neale McCormick, Matt Baughman, Rama Duvvuri
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Patent number: 8738407Abstract: A computer readable medium containing a set of computer readable instructions that when loaded into a computer configure that computer to: receive demographic data, fire station data, or other data associated with a location; receive a coordinate pair including a longitude and latitude of a location; determine a coordinate grid block bounded by latitude and longitude lines, which grid block is associated with the coordinate pair; query a database for a plurality of existing data associated with the coordinate grid block; and determine a rate based at least in part on the plurality of existing data and the demographic data, fire station data, or other data associated with a location.Type: GrantFiled: March 27, 2013Date of Patent: May 27, 2014Assignee: State Farm Mutual Automobile Insurance CompanyInventors: Curt Stewart, Matthew T. Frank, Neale McCormick, Matt Baughman, Rama Duvvuri
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Patent number: 8738499Abstract: Financial systems and methods for trading fixed return options on secondary markets such as stock exchanges including an electronic order delivery and execution system and/or an on-floor trading auction, configured to provide an exchange-traded environment. Also included is at least one fixed return option or binary option traded through an exchange's order delivery and execution system or on-floor trading auction, whereby such trading environment provides an open market. Also included are methods for calculating the closing settlement value for securities underlying fixed return options or binary options in order to maintain a fair and orderly trading environment for these instruments on an organized exchange.Type: GrantFiled: December 21, 2004Date of Patent: May 27, 2014Assignee: NYSE MKT LLCInventors: Donato A. Montanaro, Michael T. Bickford, Jeffrey P. Burns, Christopher P. Masciale, Scott R. Ebner
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Patent number: 8732068Abstract: A system, method, and computer program product are provided for the creation of enhanced securities. Enhanced bonds are backed by the security of a credit default swap contract without the need for separate purchase thereof. Building on this approach, multi-obligor securities can also be credit enhanced to provide a single security reflecting the position of the multi-obligor securities and a backing credit default swap contract.Type: GrantFiled: June 29, 2012Date of Patent: May 20, 2014Assignee: eBond Advisors LLCInventors: Michael Fairweather, Richard K. MacWilliams, John Andrew McQuown
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Patent number: 8725617Abstract: Various embodiments are directed to systems and methods for facilitating the aggregation of carbon reduction credits resulting from finance loans financing the purchase of energy technology. For example, a credit aggregator may receive from a finance institution estimate parameters describing a loan type. The credit aggregator may calculate a value of a carbon reduction credit associated with each loan of the loan type considering the estimate parameters and display the value to the finance institution. In addition, the credit aggregator may receive bid data and booking data from the finance institution. When a credit is booked, the credit aggregator may receive from the finance institution periodic indications of a status of the intervention technology.Type: GrantFiled: September 30, 2011Date of Patent: May 13, 2014Assignee: Micro Energy Credits, Corp.Inventors: April Allderdice, James Dailey
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Patent number: 8719137Abstract: Current practice in class action litigation entails a series of arbitrary assumptions about fundamental parameters that may not meet Daubert standards of scientific evidence. A new theoretically-grounded microstructure trading model (TMTM) method and arrangement determines retained shares for use in damages calculations for securities fraud cases and complies with Daubert standards. In particular, the TMTM method classifies trades as “buys” or “sells”, as well as estimates trading intensity using the bid-ask spread. The TMTM method has been found to yield more accurate estimates of retained shares than heretofore.Type: GrantFiled: June 8, 2007Date of Patent: May 6, 2014Inventor: Linda Allen
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Patent number: 8719061Abstract: Disclosed is a novel system and method that provides real time information to an insurance adjuster. The system obtains information related to an insured item which has an outstanding claim. Information includes the cost to repair a specific item, the salvage value of the item, and the cost to replace the item. The system then compares the information related to the insured item from an economic perspective to determine whether it should be repaired or replaced. Since the system is objective, it reduces the reliance on subjective human factors such as collusion and lack of expertise. As a result, the system reduces the number of fraudulent and inaccurate transactions related to the specific item.Type: GrantFiled: July 23, 2012Date of Patent: May 6, 2014Assignee: Hartford Fire Insurance CompanyInventor: James T. Birchall
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Patent number: 8712887Abstract: The invention concerns a multiparty accounts receivable and accounts payable system that allows business trading partners to use a single, shared system for both accounts receivable and accounts payable management. The system allows participants to use the substantial amount of financial and cash flow information captured by the system to borrow more efficiently by permitting lenders to view this information. Furthermore, the system provides a confirmation process to convert existing debt obligations into a new, independent payment obligation due on a date certain and free of any defenses to the underlying contract. The confirmed debt obligations provide a better source of working capital for the participants, or can be converted into electronic promissory notes. The system provides an electronic exchange for electronic promissory notes, allowing participants to raise working capital in various ways, for example, by selling them.Type: GrantFiled: November 6, 2006Date of Patent: April 29, 2014Assignee: JPMorgan Chase Bank, N.A.Inventors: Bernard DeGroeve, Jan Petroons, Christopher C. Hanan, A. Graham Bailey, Shreyas D. Gupta, Kevin Lawrence Mellyn, Matthew Saal, Morio Alexander, Craig Mondschein
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Patent number: 8706630Abstract: A computerized system and method for securely authorizing and distributing stored-value card data over a communications network is provided. The method allows for storing in the database a plurality of records comprising stored-value card data for each stored-value card as well as information identifying a plurality of trusted sources of stored-value card activation requests and/or a plurality of trusted communications networks for transmitting stored-value card activation requests. A transmitting step allows for a requesting terminal to transmit over a communications network a request to change the status of a stored-value card. The central processor then determines whether the requesting terminal and/or the communications network is a trusted source. Based on whether the requesting terminal or communications network is a trusted source or trusted communications network, the request can be processed and the card can be activated.Type: GrantFiled: September 5, 2003Date of Patent: April 22, 2014Assignee: e2interactive, Inc.Inventors: Phillip Craig Graves, Merrill Brooks Smith
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Patent number: 8694403Abstract: Commercial size of spending wallet (“CSoSW”) is the total business spend of a business including cash but excluding bartered items. Commercial share of wallet (“CSoW”) is the portion of the spending wallet that is captured by a particular financial company. A modeling approach utilizes various data sources to provide outputs that describe a company's spend capacity. A mutual fund rating company can use this CSoW/CSoSW modeling approach to predict the performance of funds that invest in a particular industry or sector. In addition, since mutual funds often provide guidelines for selecting stocks, rating companies can use this modeling approach to predict the performance of companies in a fund's portfolio.Type: GrantFiled: May 21, 2013Date of Patent: April 8, 2014Assignee: American Express Travel Related Services Company, Inc.Inventors: Kathleen Haggerty, Charles Christopher Lyon, Benedict O. Okoh, Robert E. Phelan, Jon Kevin Ruterman, Geraldine A. Turner, Chao M. Yuan, Arnab Biswas
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Patent number: 8676613Abstract: A method for rating insurance products using a programmed computer system having steps including receiving a coordinate pair comprising a longitude and a latitude of a location; determining a target coordinate grid block by truncating a decimal representation of the longitude and latitude of the location; querying a database for a first set of existing data associated with the target coordinate grid block; setting a ring counter to an initial value; determining a current ring of coordinate grid blocks grid adjacent to and surrounding the target grid block; querying the database for a second set of existing data associated with each coordinate grid block in the current ring of coordinate grid blocks; and calculating a rating for an insurance product based on an analysis of the data.Type: GrantFiled: March 27, 2013Date of Patent: March 18, 2014Assignee: State Farm Mutual Automobile Insurance CompanyInventors: Curt A. Stewart, Matthew T. Frank, Neale E. McCormick, Matthew W. Baughman, Rama Duvvuri
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Patent number: 8671042Abstract: A method for developing and applying market data scenarios in which market data is received from a market data distribution platform, stored, changed with respect to a specific asset included in the market data, and the altered market data transmitted to a client application that processes the altered market data as if it were transmitted directly from the platform. The system may include a recording module for receiving a stream of market data from the platform, an interface module for specifying changes to the replayed stream to form a stream of altered market data and a client application interface for transmitting a stream of altered market data to a client application. The stream of altered market data mimics the market data stream such that the stream of altered market data can be processed as if it were market data from the market data distribution platform.Type: GrantFiled: April 6, 2012Date of Patent: March 11, 2014Assignee: Codestreet, LLCInventor: Howard Barry Pein
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Patent number: 8660956Abstract: A system that includes computer hardware, computer software, apparatus, and methodology that enables individuals, businesses, and all types of organizations (both for profit and non-profit) to capture and securely transmit check images (including, but not limited to, personal checks, business checks, travelers checks, money orders, merchant coupons, food coupons, line of credit checks, etc.), deposit information, and other information from remote locations (i.e., locations that could include the financial institution's remote locations, other financial institution's locations, businesses, private residences, etc.), for the purpose of having those checks credited to the depositing individual's or organization's bank account(s) and having the check images (and/or physical checks) entered into the bank check clearing channels for ultimate delivery to the maker bank for payment out of the maker's account.Type: GrantFiled: October 6, 2011Date of Patent: February 25, 2014Assignee: Netdeposit, LLCInventors: Danne L. Buchanan, William Ronald Titus
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Patent number: 8660946Abstract: Method for detecting fraud includes receiving a fraud alert. The fraud alert is investigated by analyzing social graph information and other available information of one or more users associated with the fraud alert to determine likelihood of the users being involved in fraud. When it is determined that a fraud was committed based on the analysis, chain of fraudulent transactions related to the fraud are reversed and fraud events data related to the fraud are updated into a fraud event database for subsequent analysis.Type: GrantFiled: October 18, 2012Date of Patent: February 25, 2014Assignee: Zynga Inc.Inventors: Justin Driemeyer, Matthew Ocko
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Patent number: 8655759Abstract: A method includes determining whether a first amount of liability contributed by a first subscriber during a provision of a service to the first subscriber exceeds a first balance indicative of a first portion of available funding that may be consumed by the first subscriber, determining whether a second amount of liability contributed by a second subscriber during a provision of a service to the second subscriber exceeds a second balance indicative of a second portion of the available funding that may be consumed by the second subscriber, issuing a first communication to a device to affect the provision of a service to the first subscriber if the first amount of liability exceeds the first balance, and issuing a second communication to the device to affect the provision of a service to the second subscriber if the second amount of liability exceeds the second balance.Type: GrantFiled: April 30, 2009Date of Patent: February 18, 2014Assignee: Comverse, Inc.Inventors: Bruce Frankel, Lior Auslander, Pankaj Trivedi, David Policar
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Patent number: 8639609Abstract: A computer implemented method for determining a margin requirement for a market participant includes maintaining, by a processor associated with an exchange, an exchange account reflecting an exchange position resulting from a trade executed on the exchange for a product available via the exchange, the exchange account being maintained separately from a custodian bank account associated with a custodian bank, the custodian bank account reflecting a repo position resulting from a repo transaction facilitated by the custodian bank between the market participant and a counterparty to the repo transaction. The method further includes receiving data reflective of the repo position via a communication interface between the exchange account and the custodian bank account, and determining the margin requirement for the market participant based on the received data and the exchange position.Type: GrantFiled: December 9, 2011Date of Patent: January 28, 2014Assignee: Chicago Mercantile Exchange Inc.Inventors: James Boudreault, Jonathan Kronstein, Frederick Sturm, Tim Elliott, Tim Doar
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Patent number: 8612323Abstract: Systems and methods for determining a trade fee charged by a trading venue to a market participant, or a rebate credited by a trading venue to a market participant are disclosed. The method may include a computer accessing and storing one or more order information parameters in memory, as well as accessing and storing one or more of market characteristics in memory. The method may further include calculating a trade fee or rebate that is based on at least one of the order information parameters and at least one of the market characteristics stored in memory. A system may include a memory containing instructions for calculating a trade fee or rebate and a processor in communication with the memory, the processor configured to execute the instructions according to the method set out above.Type: GrantFiled: June 7, 2012Date of Patent: December 17, 2013Assignee: Chicago Board Options Exchange, IncorporatedInventors: Eric Frait, Eileen C. Smith
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Patent number: 8606714Abstract: Various aspects relate to systems, methods or devices for processing overdrafts made by customers. A particular embodiment is directed toward a system that is configured to receive transaction data from customer-oriented terminals. The transaction data includes requests for monetary transfers on behalf of customers that hold a checking or savings account at a financial institution. In response to receiving the transaction data, the system accesses customer account information, which can include the amount of funds in the checking or savings accounts. The system determines whether sufficient funds exist in the accounts to cover the financial transactions. In response to a potential overdraft of one or more customer accounts, stored customer information is accessed to determine and authorize overdraft deferment eligibility of the customer based upon the stored customer information. The system defers an overdraft fee by providing a grace period during which funds can be transferred to cover the overdraft.Type: GrantFiled: March 12, 2012Date of Patent: December 10, 2013Assignee: U.S. Bank National AssociationInventors: Valerie Felice Cameo, Mark Dickelman, Victoria Ann Vogt
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Patent number: 8595120Abstract: A system and method for providing a market on-close operation for a market is provided. Buy orders and sell orders for tradeable assets are obtained. A time of market close is obtained. A respective buy order is matched to a respective sell order, but without a price. The respective order quantity match is locked-in without a price. A close price for the tradeable asset in the given primary market is obtained and the quantity match is executed. A fill message is transmitted to the respective buyer and the respective seller with the quantity matched and the close price for the tradeable asset.Type: GrantFiled: September 29, 2010Date of Patent: November 26, 2013Assignee: BATS Global Markets, Inc.Inventor: Michael Adam Newell