Abstract: System and methods for displaying implied market data are developed. One example method includes displaying a plurality of indicators corresponding to a plurality of tradeable objects via a graphical interface. Upon identifying a first tradeable object, the method includes determining an implied relationship between the first tradeable object and the at least one of the plurality of tradeable objects. The method further includes displaying a graphical indicator in relation to an indicator corresponding to the first tradeable object and at least one indicator corresponding to the at least one of the plurality of tradeable objects to indicate an implied relationship between the first tradeable object and the at least one of the plurality of tradeable objects.

Abstract: A method for routing a financial instrument order incorporating dark pools and at least one electronic communication network (ECN) or exchange. The financial instrument order includes an identification of a financial instrument, a bid or ask price, and a number of units to be traded. A ping order of the dark pools is determined. The financial instrument order is routed to a top dark pool as an immediate or cancel order. If the financial instrument order is not complete, the ping order is updated by removing the top dark pool. If any dark pools remain in the updated ping order, the financial instrument order is routed to the next dark pool. This process continues until all of the dark pools have been pinged or the financial instrument order is complete. If the financial instrument order is not complete, the financial instrument order is routed to the ECN or exchange.

Abstract: A first portion of data is selected. The first portion of data is capable of being converted from a human-readable format to an electronically readable format. The first portion of data is capable of being stored in an optical bar code. A printed publication includes the first portion of data in the human-readable format. The first portion of data is encrypted. The first portion of data is stored on the optical bar code. The optical bar code is incorporated into the printed publication. The first portion of data is read from the optical bar code using a bar code scanner without removing the optical bar code from the printed publication.

Abstract: The present invention discloses an investment allocation system for managing investment return and risk and method thereof. The investment allocation system comprises a storage unit, a return rate computation unit, a standard deviation computation unit, an operation unit, and an allocation process unit. The storage unit stores a threshold, first data sets, and second data sets. The return rate computation unit transforms the data sets into return rate sequences. The standard deviation computation unit transforms the return rate sequences into standard deviation sequences. The threshold is assigned to the first standard deviation sequence in order to obtain a corresponding kth-quantile thereof. Further, an operation unit locates an object according in the kth-quantile into the second standard deviation sequence. The operation unit further processes the second standard deviation sequence to obtain a robustness index. Also, an allocation process unit allocates assets by processing the robustness indexes.

Abstract: A system for generating a model of unknown values of several rate series at specified times includes a computing device configured to receive input indicative of the parametric model type of the unconditional rate dynamics; receive input indicative of a known or unknown rate value for each rate series and for each specified time into the computing device; generate the values of the known rate changes; generate an unconditional multidimensional probability distribution of the known and unknown rate changes; generate a multidimensional probability distribution of the unknown rate changes conditional on the known rate changes taking their known values; and provide output from the computing device indicative of the modelled values of the unknown values of the several rate series. The several rate series have unconditional rate dynamics characterized by a parametric model type in several dimensions, each rate series having at least one known value.

Abstract: A method and system for forecasting the transaction cost of a portfolio trade execution that may be applied to any given trade strategy or an optimal trade strategy that minimizes transaction costs. In preferred embodiments, a server comprises one or more computers that act as an automated forecaster whereby it accepts user-defined input variables from customers and generates a transaction cost estimation report based on those variables. The server is programmed with specific transaction cost estimation and optimization algorithms that model the transaction costs of a specific trade execution based on the user's trading profile and market variables.

Abstract: An earnings volatility reduction procedure includes determining a first sensitivity value of a portfolio to underlying market conditions, trading in an immunizing instrument having a second sensitivity value substantially equal in magnitude and opposite in value of the first sensitivity value, and trading in a qualifying instrument having a third sensitivity value substantially equal to the first sensitivity value. A derivative portfolio (in particular, one that includes a financial instrument for which changes in value are characterized as earnings pursuant to FAS 133) is structured by determining a sensitivity of the derivative portfolio with respect to financial conditions in a trading market, executing an immunizing purchase of a second trading instrument in an amount equal to the magnitude of the current sensitivity and opposite in value, and executing a qualifying sale of a third trading instrument in an amount equal to amount of the current sensitivity.

Abstract: A system mainframe receives a payee check file and a payor check file and produces an exception file including at least one exception item. A server receives the exception file and generates a Web file including information relating to the exception item and generates an address for the Web file. The server further sends an exception client an e-mail which notifies the exception client of the exception item and provides the exception client with the address for the Web file.

Abstract: A computerized multi-stage bidding system and method for bidding on construction projects is disclosed. The system utilizes Internet client-server technology. The system includes input devices for entering into the computerized system and validating member credentials, accessing construction projects, registering to bid on the construction projects, providing information relative to a type of contract the construction projects will have, sorting, accepting and rejecting bids for the construction projects, posting a winning bid in order for an owner to compare it to the project budget, having the winning bid be reviewed by an owner and architect of the construction projects, via a report provided by the system and providing a forum for new contractors to become members.

Abstract: A business-to-business transaction clearinghouse integrates the traditional point-to-point business supply chain at the clearinghouse. The clearinghouse provides cost effective access to a wide variety of members and includes value-added services. Members of the clearinghouse can include trading members, members that help the trading members ship their products, and banking members. The clearinghouse facilitates business among the trading members by providing a single point of contact for all transactions. The clearinghouse can be specific to an industry, such as the chemical industry. Multiple industry specific clearinghouses may form a network clearinghouses to effectively create one larger and more general business-to-business electronic commerce community.

Abstract: First and second components of the present invention, in combination, provide a customer interface for initiating a trade transaction and provides for the secure viewing of the status of the transaction. A third component assists in the automatic generation and verification of the voluminous and detailed documents required to support a trade transaction. The third component additionally tracks and assists in the management of the seller's manufacturing and shipment of the goods that form the basis of the trade transaction. A fourth component automatically generates a Letter of Credit from a Purchase Order and performs a reconciliation function on payments made pursuant to Letters of Credit or open Accounts.

Abstract: A bid-opening device 20 receives from each bidding device 10m a bidding price index ?m=g(hk(IVm)) (where IVm is an initial value, hk indicates k-times processing with a one-way function h and g is a one-way function) and its identifier IDm. The received information is stored on a common bulletin board 25. Dm=hk(IVm) (where Dm=g(Dm) is generated with k set as the upper limit value K of the bidding price. The bulletin board 25 is checked for ?m which matches this Dm. If no match is found, m is incremented by one, and the check for ?m?Dm matching is made for each of m bidding devices. Upon completion of the matching for all the bidding devices, k is decremented by one, and a check is made for ?m which matches Dm=g(hk(IVm)), and the index k for which they match is determined as the highest price bid. The bid-opening device 20 outputs that k and the identifier IDm of ?m.

Abstract: A computer-based method for combining investment recommendations of individual research providers such as stock analysts. The method includes providing a server running a research team management module. A list of individual research providers is displayed on a client node linked to the server network. A research team is generated based on user input including a number of the research providers. Team rules are assigned to the team defining an algorithm for processing recommendations from the members of the team. Recommendations for securities are retrieved for the research providers on the team, and team recommendations are generated by applying the team rules to the recommendations. Team recommendations are reported to the client node for guiding investments.

Abstract: An anonymous trading system comprises a network of broker nodes, each of which have an equal status and can match orders, initiate deals and distribute prices. Trading agents are connected to some or all of the broker nodes. The network is arranged to conform to a series of rules and in a preferred embodiment the brokers are arranged as a clique tree.

Abstract: The present invention relates to dynamic optimization of system control over time. The need for dynamic optimization arises in many settings, as diverse as solar car power consumption during a multi-day race and retirement portfolio management. We disclose a reformulation of the control problem that overcomes the so-called “curse of dimensionality” and allows formulation of optimal control policies multiple period planning horizons. One optimal control policy is for power consumption by a solar car during a race, which involves many course segments, as course conditions vary through a day. Another is for risk in and consumption from a portfolio intended to support retirement. Both multi-period control policies take into account future uncertainty. Particular aspects of the present invention are described in the claims, specification and drawings.

Abstract: A method and computer program product for minimizing short-term risk to a portfolio of securities holdings during implementation of executing an outstanding trade list of securities to be traded, takes into account covariances between securities in the outstanding trade list and between securities in the outstanding trade list and securities in the portfolio of holdings so as to minimize risk to the portfolio of holdings as well as to a residual trade list of unexecuted orders during said implementation.

Abstract: A method and system for reducing the time it takes for a trader to place a trade when electronically trading on an exchange, thus increasing the likelihood that the trader will have orders filled at desirable prices and quantities. The “Mercury” display and trading method of the present invention ensure fast and accurate execution of trades by displaying market depth on a vertical or horizontal plane, which fluctuates logically up or down, left or right across the plane as the market prices fluctuates. This allows the trader to trade quickly and efficiently.

Abstract: A method for repositioning information related to a plurality of commodities on a graphical user interface is provided. The method includes receiving market information relating to a first commodity and a second commodity. The market information includes a number of items of interest, each of which may be associated with a price. A first information display region associated with the first commodity and including a number of locations arranged such that each location corresponds to a price level along at least a portion of a first static price axis is displayed at a first time. A second similar information display region associated with the second commodity is also displayed at that time. Indicators associated with items of interest related to the first commodity and the second commodity are displayed in the first information display region and the second information display region, respectively. The method includes receiving a command to reposition one of the information display regions.

Abstract: Apparatus, methods and articles of manufacture for n-tier transaction execution and processing are shown. The first layer comprises a presentation layer in the form of a user interface for entering instrument orders, modifying orders, and monitoring orders, instruments and markets. The second layer comprises an intermediate component layer for information transfer, and the third layer comprises an information source layer for feeding information to and accepting information from the first two layers.

Abstract: Systems and processes are provided for projecting, tracking and assessing the performance of and relative interests of the parties to one or more cooperatively-funded insurance policies, such as split-dollar or jointly-owned life insurance policies. Certain embodiments can also optimize the structure and function of existing insurance policies. Input data regarding actual and potential parties to an insurance contract, regulatory considerations, as well as the objectives that the parties intend to achieve, is used to propose, create, track, maintain, and implement an insurance policy or a group insurance plan. The input data is communicated to an enterprise platform via a web server. The enterprise platform includes applications which process the data. Data processing functions performed include proposal and policy generation, policy reevaluation and re-proposal, policy conversion, and report generation.