Patents Examined by Hani Kazimi
  • Patent number: 8145567
    Abstract: A system and process for creating, maintaining, and using transaction identifiers, i.e. a transaction DNA, is provided. The DNA, along with other transactional information, is sent through a set of intermediary entities as found in a standard transaction processing system. The DNA is based on information that may include source ID, merchant ID, and order ID. The order ID is a unique number that can be generated by the merchant. The DNA is maintained throughout the lifecycle of the transaction, including authorization requests, settlement requests, and exception item processing. The DNA allows the bank to provide precise transactional matching to the original transaction for the merchant, making reconciliation always possible, fast, and automatic, and ensuring information is presented in a manner that the merchant chooses.
    Type: Grant
    Filed: June 30, 2005
    Date of Patent: March 27, 2012
    Assignee: Wells Fargo Bank, N.A.
    Inventors: Michelle Banaugh, Timothy R. Knowlton, George L. Wood
  • Patent number: 8131626
    Abstract: A method for providing a customizable trading display of market instrument data includes selecting a subset from a plurality of quadrants, with each quadrant associated with one benchmark instrument and each benchmark instrument associated with one or more non-benchmark instruments. Market data is automatically retrieved for the instruments associated with each selected quadrant. A customizable trading display is generated, with the display comprising the subset of quadrants in a selectable layout and each quadrant presenting the associated market data.
    Type: Grant
    Filed: January 16, 2004
    Date of Patent: March 6, 2012
    Assignee: BGC Partners, Inc.
    Inventor: Philip S. Langridge
  • Patent number: 8131625
    Abstract: A method for providing a customizable trading display of market instrument data includes selecting a subset from a plurality of quadrants, each quadrant associated with one benchmark instrument and at least one non-benchmark instrument, each non-benchmark instrument associated with the benchmark instrument. Market data is automatically retrieved for the instruments associated with each selected quadrant. The customizable trading display is then generated with the display comprising the subset of quadrants and each quadrant including the associated market data.
    Type: Grant
    Filed: November 17, 2003
    Date of Patent: March 6, 2012
    Assignee: BGC Partners, Inc.
    Inventor: Philip S. Langridge
  • Patent number: 8117110
    Abstract: Systems, processes and methods are described for converting over-the-counter derivative products such as interest rate swaps (IRSs) to standardized forward swaps, such as centrally cleared interest rate swaps. The value of each leg of the over-the counter swap may be determined and compared to a value of a corresponding leg of the forward swap. A mark-to-market value may be determined as the difference between the values.
    Type: Grant
    Filed: December 27, 2007
    Date of Patent: February 14, 2012
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Muhammed Hadi, Dale Michaels, Amy Stephen, Ketan Patel
  • Patent number: 8090643
    Abstract: Joint execution type compound orders can be processed in an anonymous trading system comprising a plurality of broker nodes each of which includes an order matching functionality and a market distribution functionality. Trader agent nodes are connected to a number of dealer terminals grouped in trading floors and also to a broker node. Joint execution orders are entered as hit orders and are all matched by the broker during the hit or the order is cancelled. If matches are made the taker's trading agent does not complete any of the deals marking up the order until it knows that all the deals are executable. The system may be used to allow traders to hit bids and offers in currency pairs synthesised from other currency pairs. In this arrangement the dealer enters a simple order in the synthetic currency and the taker's trading agent converts it into a joint execution order.
    Type: Grant
    Filed: August 20, 2007
    Date of Patent: January 3, 2012
    Assignee: EBS Group Limited
    Inventors: Vladimir Neyman, Steven Iaccheo, Neena Jain, James Shu, Edward Howorka, Andrew Foray, Michael Merold
  • Patent number: 8041622
    Abstract: When a trading application on a client terminal receives a trade order, a randomizer application may automatically randomize one or more order parameters to generate a randomized order. For example, an order quantity, a price level, and/or a time period between sending any two consecutive orders may be randomized. The randomized order is then automatically placed on the market.
    Type: Grant
    Filed: November 26, 2002
    Date of Patent: October 18, 2011
    Assignee: Trading Technologies International Inc.
    Inventors: Jens-Uwe Schluetter, Harris C. Brumfield, Robert A. West, Sagy Pundak Mintz
  • Patent number: 8032439
    Abstract: A method for scheduling processing of an instrument. The method receives instrument information, selects an instrument category for the instrument based on the instrument information, the selected instrument category having a calculation set, assigns the instrument to a job corresponding to the calculation set of the selected instrument category; and sends the job to a computing resource. In another aspect, the method also receives a purpose identifier, and chooses the calculation set from two or more calculation sets of the selected instrument category based on the purpose identifier. In another aspect, the calculation set includes two or more calculation sub-sets, each calculation sub-set having a job priority, and the method includes assigning the instrument to two or more jobs corresponding to each of the two or more calculation sub-sets.
    Type: Grant
    Filed: January 7, 2003
    Date of Patent: October 4, 2011
    Assignee: JPMorgan Chase Bank, N.A.
    Inventors: Alex Loucaides, Daniel Clayden, Phillip Carter, Mark Addison
  • Patent number: 8024264
    Abstract: In some embodiments, systems and methods are disclosed for generating filters to determine whether a consumer is likely to have a scoreable credit record based on non-credit data, and to determine a potential risk level associated with an unscoreable credit record based on non-credit data. Existing scoreable and unscoreable records are compared to determine factors correlated with having an unscoreable record, and a multi-level filter is developed. Unscoreable records having at least one entry are compared to determine whether they are “good” or “bad” risks, factors correlated with either condition are determined, and a filter is developed. The filters can be applied to records comprising demographic data to determine consumers that are likely to have unscoreable records but represent good risks.
    Type: Grant
    Filed: June 17, 2010
    Date of Patent: September 20, 2011
    Assignee: Experian Marketing Solutions, Inc.
    Inventors: Anamitra Chaudhuri, Nancy A. Hadenfeldt, Erik Hjermstad
  • Patent number: 8015110
    Abstract: A system and method of aggregating multiple transactions over a network-based electronic payment transaction processing system is provided. The system includes a transport-aggregating clear-text Internet transaction (TACIT) server designed to allow conventional electronic payment transaction processing systems to work over networks which rely on the Internet Protocol, and to still support the fault-tolerance and load balancing. In one embodiment, the system aggregates multiple transmission control protocol sockets into a single socket to a back-end payment processing system in a single application. The transport-aggregating, cleartext Internet transaction (TACIT) server resides on an intermediate system that is positioned between the Internet endpoints and a payment transaction processing system (TPS).
    Type: Grant
    Filed: March 29, 2005
    Date of Patent: September 6, 2011
    Assignee: Heartland Payment Systems, Inc.
    Inventors: Alan Sims, Brian Rubarts
  • Patent number: 8015085
    Abstract: A system is described allowing the transfer of funds, for example, from an employer to a third-party intermediary which can distribute the funds via a payroll card to an employee. The system allows a portion of the population such as that which does not use traditional bank accounts to receive funds via a payroll card at a variety of locations without the necessity of visiting the bank location of the employer to cash a check. Other embodiments of the invention allow funds to be distributed from a first party to a second party via an intermediary party.
    Type: Grant
    Filed: November 11, 2004
    Date of Patent: September 6, 2011
    Assignees: First Data Corporation, The Western Union Company
    Inventors: Lynn Blagg, Michael F. Rodin
  • Patent number: 8005755
    Abstract: A software-based syndication and filtering platform for a first Web server hosted by a first enterprise has a rules-based filter for interacting with communications from customers of the first enterprise, the communications coming from a second Web-site of a second enterprise, and a discrimination layer for providing specific services to said customers according to one or more characteristics of the Web site of the second enterprise. In some cases there is also a layer for interacting with a third Web server hosted by a third enterprise. In preferred embodiments the services include a broad range of transaction capabilities.
    Type: Grant
    Filed: April 24, 2001
    Date of Patent: August 23, 2011
    Assignee: Yodlee.com, Inc.
    Inventors: Gregg Freishtat, Vikas Rijsinghani
  • Patent number: 8001035
    Abstract: A trusted computer system for conducting an electronic financial asset deposit auction over a computer network such as the Internet wherein invited depositor members are anonymous and bid against themselves for a number of sessions no greater than the number of depositor members. At each session, a member is declared a winner and eliminated from further sessions. The winner then collects the pooled discount deposits with repayment due in the next session payable to the winner of the said session. The aforesaid steps are repeated until one depositor is left wherein said depositor will receive the highest rate of return.
    Type: Grant
    Filed: July 3, 2003
    Date of Patent: August 16, 2011
    Inventor: Khai Hee Kwan
  • Patent number: 8001023
    Abstract: Methods, devices and systems are provided for event participation. One method embodiment includes a method for generating income for an owner of an entrant to an event. The method includes defining the event by the owner. The method further includes offering remuneration based upon a fulfillment of the defined event. The remuneration can be memorialized by a remuneration right. The remuneration can be granted from the owner to a participant. And, the remuneration right is granted in exchange for the participant accepting to give consideration to the owner for receiving the remuneration.
    Type: Grant
    Filed: December 7, 2004
    Date of Patent: August 16, 2011
    Inventors: Edward L. Blach, James R. Chiapetta
  • Patent number: 8001039
    Abstract: A method of providing an account is provided. The method includes receiving identification information associated with a user during a communication session. The method further includes communicating a request for credit information, wherein the request includes at least a portion of the identification information. The requested credit information is received and an account is approved based at least in part on the received credit information. The account is opened and access is provided to the opened account during the communication session.
    Type: Grant
    Filed: April 23, 2004
    Date of Patent: August 16, 2011
    Assignee: Cantor Index, LLC
    Inventors: Dominic Crosthwaite, Lewis C. Findlay
  • Patent number: 7996290
    Abstract: Systems and methods are provided to model financial transactions. According to some embodiments, simple events, branch events, composite events, and/or contingent events associated with a financial transaction are defined. The events may then be used to automatically manage the transaction during the transaction's lifecycle. In one embodiment, at least one simple event associated with an asset transfer is defined, including a transfer amount and a transfer date. At least one branch event associated with a set of simple events is also defined, including a branch date and a branch selector. In addition, at least one composite event associated with a plurality of the simple events or branch events is defined. The transaction may then be automatically managed during the transaction's lifecycle based at least in part on the simple events, the branch events, and the composite events.
    Type: Grant
    Filed: March 8, 2005
    Date of Patent: August 9, 2011
    Assignee: Goldman Sachs & Co.
    Inventors: Jay S. Dweck, Pantelis G. Tsoucas
  • Patent number: 7983980
    Abstract: There is provided a system which enables human-like automatic bidding by combining a plurality of processing functions with a bidding logic of absentee agents for absent participants of an auction system. Absentee agents, present in an auction server, receive price distribution and perform bidding similarly to on-site human participants. Absentee information is given to the absentee agent at the start of an auction, and absentee agents make bids autonomously and in cooperation with one another. In order to perform the human-like bidding, each agent makes a bid by combining (1) bidding possibility determination processing, (2) final bidding determination processing, (3) repeat bidding determination processing, (4) repeat bidding prohibition determination processing, (5) right acquisition bidding determination processing, and (6) character bidding determination processing.
    Type: Grant
    Filed: November 12, 2007
    Date of Patent: July 19, 2011
    Assignee: International Business Machines Corporation
    Inventors: Tomoaki Hayashi, Yoshinobu Honda, Yoshiaki Sawano
  • Patent number: 7979350
    Abstract: A method for managing wireless account information. A list of applications is presented via a web interface on a computing device. The applications are operable to run on a wireless handheld device and a plurality of billing options are presented. In response to receiving a selection of an application, a wireless account is updated via a link between a web account and a wireless account according to the selected application, such that the selected application is available when a wireless account is accessed via a wireless handheld device.
    Type: Grant
    Filed: October 23, 2007
    Date of Patent: July 12, 2011
    Assignee: GoTV Networks, Inc.
    Inventor: Pierre Carion
  • Patent number: 7979337
    Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. commingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.
    Type: Grant
    Filed: September 27, 2010
    Date of Patent: July 12, 2011
    Assignee: Hartford Fire Insurance Company
    Inventors: Jonathan L. Mercier, Patricia L. Harris
  • Patent number: 7979348
    Abstract: A method comprises receiving a payment instruction including a payment system routing number and a unique code associated with a payee, and employing the routing number to determine whether it includes routing information for a specific financial institution. If so, then the payment instruction is transmitted based on the routing number. The transmitted payment instruction includes the unique code associated with the payee. If the routing number is determined to not include routing information for a specific financial institution, then account identification information of the payee and a first system routing number are retrieved based on the unique code, and the unique code included in the payment instruction is replaced with the retrieved account identification information, and the routing number is replaced with the retrieved first system routing number. The payment instruction with the account identification information is transmitted to the payee and/or a financial institution associated with the payee.
    Type: Grant
    Filed: April 23, 2003
    Date of Patent: July 12, 2011
    Inventors: George F. Thomas, Albert G. Wood, Joseph S. Pawelczyk, Kenneth H. Friedman, Paul Palmese
  • Patent number: 7979336
    Abstract: A method of determining an estimate of the market value of a traded unit of a financial instrument, and apparatus for carrying out the method, said instrument comprising a fund of individually priced securities and the exact composition of said fund being withheld from the market, said method comprising selecting a plurality of mutually independent risk factors, each risk factor being representative of market behaviour estimated to be significant to the price behaviour of the traded unit, obtaining information from a third party holding information regarding the composition of said fund regarding the actual significance of said risk factors to the value of said traded unit, and calculating a value for said traded unit on the basis of said significances.
    Type: Grant
    Filed: February 25, 2008
    Date of Patent: July 12, 2011
    Assignee: Nyse Amex LLC
    Inventors: Clifford J. Weber, Carol Alexander, Charles A. Baker, Jason MacQueen, Gary L. Gastineau, Terry Norman