Abstract: A method of structuring a financial transaction, including allocating to a transaction pool n credits, each of the credits having an obligation to make specified payments and each of the credits being in a non-default state when a respective obligation is met and being in a default state when a respective obligation is not met; associating a senior holder and a subordinate holder with each of the credits using a) a respective senior holder financial instrument through which payments from a respective credit flow to the senior holder and b) a respective subordinate holder financial instrument through which payments from a respective credit flow to the subordinate holder; structuring each senior holder financial instrument and each subordinate holder financial instrument to give priority to payments due each respective senior holder prior to payments due each respective subordinate holder in the event a respective credit enters the default state; using payments from at least one subordinate holder financial ins

Abstract: An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process. The market has a facility, which receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window, and a plurality of price levels of a product traded in the market. The market also includes processes to handle odd-lot processing and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers.

Abstract: A preferred embodiment comprises a method for determining value-at-risk based on tick-by-tick financial data. Major steps of the method comprise the following: (1) financial market transaction data is electronically received by a computer; (2) the received financial market transaction data is electronically; (3) a time series z is constructed that models the received financial market transaction data; (4) an exponential moving average operator is constructed; (5) an operator is constructed that is based on the exponential moving average operator; (6) a causal operator ?[z] is constructed that is based on the iterated exponential moving average operator; (7) values of predictive factors are calculated; (8) the values calculated by the computer are stored in a computer readable medium, and (9) value-at-risk is calculated from the values stored in step (8).

Abstract: A system, method, computer program product, and user interface for tracking multiple exchange rates for transactions in a financial software application. Historical exchange rates are applied to transactions involving currency conversions, and accurate reports are generated by retrieving appropriate historical rates according to the dates of the transactions. Exchange rates are stored by associating them with individual transactions or with date ranges. Generated reports accurately reflect historical exchange rate information where applicable.

Abstract: The present invention is related to a method for issuing a credit card to a customer in combination with providing credit management information services for the customer. The exact terms of the credit account offered depend on the creditworthiness of the customer. The customer also receives credit management information services including information as to what actions the customer could take to improve the customer's credit rating and improve the terms of the credit account. After a credit account is issued to the customer, the customer receives additional and on-going credit management information services, including credit management information based on the customer's use of the credit account.

Abstract: A dynamic quote window for a securities system includes a quote montage that displays quotes from market participants to buy or sell a security and a plurality of controls disposed proximate to the quote montage, each of the controls displaying a price level and aggregated quote size at the price level for the security. The aggregate controls display aggregated quotes at various price levels that represents publically displayed, available liquidity. Market participants can see the depth of the quotes at the inside. Also described in a multi-order window which when populated and transmitted can generate orders to capture all shares available at the price corresponding to the aggregate interest control depressed and better.

Abstract: A computerized method and system for combined billing for at least one customer on a plurality of customer accounts includes computer applications which automatically assemble and aggregate account charges, such as usage charges, fees, finance charges, discounts, rebates and rewards, for the customer on the plurality of accounts. The system also automatically formats a combined bill for the customer from the aggregated account charges and renders the combined bill to the customer. The account charges are automatically calculated by a computer application from account data for the customer's accounts, which is transmitted to the computer application from one or more storage devices, for example from vendors of energy, such as electricity and gas service, retail, such as credit cards, and communications, such as telephone and Internet service.