Abstract: A data processing system for managing a plurality of discrete accounts. Each account provides a swap between a property holder and the plan manager wherein the holder dilutes their exposure to the real estate market by exchanging future appreciation of the property for a current cash flow stream. The system thereafter implements the packaging of plural accounts into baskets of real estate assets and sells this real estate exposure to the institutional market. The data processor retains a system equilibrium by continuously updating the relative positions and the control parameters influencing these positions.
Type:
Grant
Filed:
October 14, 1994
Date of Patent:
September 7, 1999
Assignee:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Abstract: A work station for use by a trader of securities on an established market. The work station is integrated into a network of competing market makers for a plurality of securities for trading. A centralized database provides a feed of data on current market events for the securities, including price and transaction data. The work station is specifically programmed to receive the feed of data from the database and convert this datastream into a form conducive to enhanced trading. Seven separate applications permit the trader to track the market, select securities, bid and ask pricing, market direction and market depth. Traders equipped with the workstation are capable of entering transactions with more complete and copious knowledge about the extant market.
Type:
Grant
Filed:
February 1, 1991
Date of Patent:
March 22, 1994
Assignee:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Inventors:
Donald R. Trojan, Edward F. Keenan, III, Henry Hyatt
Abstract: Data processing for an improved securities brokerage-cash management system supervises, implements and coordinates a margin securities brokerage account; participation in one or more short term investments; and subscriber unilaterally initiated use of charge, debit or checking instruments. Subscriber expenditures, effected as by charge card use, check and/or cash advance are applied on a hierarchal basis, seriatim, against the subscriber's free credit balance, short term investment and the lendable equity in his securities account. On a periodic basis, e.g., daily, received card charges, check, securities and deposit transactions for the ensemble of account participants are verified and employed to compute an updated credit limit for each subscriber.In accordance with one aspect of the present invention, the short term investments available to subscribers include an ordered ensemble of insured savings accounts.
Type:
Grant
Filed:
November 21, 1983
Date of Patent:
September 27, 1988
Assignee:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Inventors:
Thomas E. Musmanno, Joseph A. Marrone, Laura Carey
Abstract: Data processing for an improved securities brokerage/cash management system supervises, implements and coordinates a margin securities brokerage account; participation in one or more short term money market or comparable funds; and subscriber-initiated use of electronically responsive subscriber identity credit/debit media and/or checking systems. Subscriber expenditures, effected as by "charge card" use, check and/or cash advance are applied on a hierarchal basis, seriatim, against the subscriber's free credit balance, short term investment and the lendable equity in his securities account. On a periodic basis, e.g., daily, received card charges, check, securities and deposit transactions for the ensemble of account participants are verified and employed to compute an updated credit limit for each subscriber. The transactional data is reviewed against predetermined norms to detect abuses such as check kiting.
Type:
Grant
Filed:
July 29, 1980
Date of Patent:
August 24, 1982
Assignee:
Merrill Lynch, Pierce, Fenner & Smith Incorporated