Abstract: In one aspect, the invention comprises a method comprising: (1) selling a note to an investor for a specified amount; and (2) using proceeds from selling the note to purchase (a) one or more zero coupon municipal bonds, and (b) an option on at least one of the group comprising: a hedge fund, a fund of funds, and a hedge fund index; wherein the note entitles the investor to substantially all of the returns on the one or more bonds and on the option, wherein the one or more bonds are configured to provide a return substantially equal to the specified amount, and wherein the option is a European option. This option can be a variable option.

Abstract: In at least one aspect, the invention comprises constructing one or more hybrid adjustable rate mortgage aggregates based on one or more of: agency, program, coupon, and origination year; for each of one or more of the aggregates, constructing one or more sub-aggregates based on one or more of: rate-index, capitalization structure, and existence of interest-only feature; mapping pools of adjustable rate mortgages to the aggregates and sub-aggregates; constructing an index based on the mapping; and pricing the index.

Abstract: A system for displaying financial information includes a financial statement having a set of financial accounts, a set of business processes associated with the set of financial accounts, and an financial statement manager for displaying the financial statement and the associated set of business processes. The financial statement manager is further adapted to display the financial statement and the set of risks associated with the set of financial accounts, the financial statement and a set of risk controls associated with the set of financial accounts, and/or the financial statement and a set of sample transactions associated with the set of financial accounts. The financial statement manager is further adapted to import the financial statement, which can be encoded in XML format. The system includes a web server for displaying the financial statement and the associated set of business processes as a web page on a user's web browser.

Abstract: Systems, methods, and computer program products are provided for increasing the return from a pool of loans for a company involved in the guarantee and securitization of such loans. In one exemplary embodiment, a computer-implemented method comprises creating a plurality of sub-pools in which to place loans from the pool of loans; determining, using one or more processors, an external value assessment for one or more loans from the pool and an internal value assessment for the one or more loans; identifying a difference between the external and internal value assessments; and selecting a sub-pool from the plurality of sub-pools to place the one or more loans based upon the identified difference.

Abstract: In an automated exchange system, a separate virtual instrument is used in the matching process of the system. The virtual instrument guarantees that both a derivative instrument and its underlying instrument are traded together. The underlying instrument, i.e. the instrument in which derivative instruments are traded, is then preferably displayed together with the virtual instruments. The underlying instrument is presented with a price. The matching of the virtual instrument can take place in a matching module of the automated exchange system. After a trade in a virtual instrument is matched in the matching process of the system, the match is reported to a subsequent deal capture module where the corresponding different trades or deals of the virtual instrument are formed. The trades or deals formed in the deal capture module do not need to be matched because the number of instruments and the price can be deduced from the information relating to the virtual instrument.

Abstract: A transaction structure for issuing a debt instrument. The transaction structure includes a first entity and a second entity. The first entity transfers an asset in exchange for receiving a beneficial interest in the asset, then issues the debt instrument. The debt instrument is backed by a market value of the asset. The second entity issues the beneficial interest in the asset in exchange for receiving the asset. The market value of the asset is determined by a clearing price of a Dutch auction.

Abstract: Disclosed is an electronic transaction recording system for accumulating data from printer devices comprising a mobile access unit containing content which is to be printed, a printer device which receives the content from the mobile access unit and prints the content in response to a authorization process, a billing manager coupled to the printer device and the mobile access unit for determining the amount of printer usage and associating a predetermined amount of token values with the costs of printing and generates an accounting of usage based on a predetermined measure of usage and a billing system for maintaining accounting records of user and associating user account information with the predetermined measure of usage and stores account information in an account records database.

Abstract: According to one embodiment of the invention, a financial instrument issued to a customer includes an account and a guarantee of a protected value. The account has an account balance that changes over time, wherein at least part of the account balance is based on an initial deposit into the account. The protected value is fixed at the time of a particular event at a value at least equal to the greatest of the initial deposit, the account balance at the time of the particular event, and the highest value of the account balance on at least one anniversary of a customer specific date between the date of the initial deposit and the time of the particular event. The customer specific date is specific to the customer, determined no later than the time the financial instrument is issued, and independent of any transaction specific date related to the financial instrument.

Abstract: A systems and methods for depositing foreign funds into a native account using a foreign transaction machine are disclosed according to one embodiment of the invention. A foreign transaction machine, such as an ATM, receives and financial account number associated with a financial account and determines the native currency associated with the financial account. The foreign ATM may then receive cash in a foreign currency. AN exchange rate is received from within the ATM or through a network connected to the ATM. The foreign funds are then converted according to the exchange rate into native funds. The native funds are then deposited into the financial account. In other embodiments, the transaction machine provides transaction cards with native funds in response to receiving foreign currency.

Abstract: A method, computer system, and computer program for determining suspect entities engaged in financial transactions. A focus entity and peripheral entities are selected such that each peripheral entity has financial transactions with F within a period of time that is subsequently partitioned into at least two time intervals. Directed graphs are generated for each time interval. Each directed graph consists of a focus node, a plurality of peripheral nodes, and edges between the focus node and the peripheral nodes. The focus node represents F. Each peripheral node represents one of the peripheral entities. Each edge has a weight that is a function of the financial transaction between F and the peripheral node within the time interval. Out-of-norm edges are determined from the directed graphs using edge-selection criteria. Potential suspect entities are identified from the out-of-norm edges. The suspect entities are determined from the potential suspect entities.

Abstract: An automated futures trading exchange is provided that rewards market participants that provide liquidity to a central processing system and charges a fee to market participants that remove liquidity from the central processing system. The liquidity maker and the liquidity taker in each transaction is identified, and it is further determined whether the liquidity maker and/or the liquidity taker is a member of a market making class. By assigning a credit or a debit to the accounts of each market participant based upon whether a market participant to a transaction is a liquidity maker or liquidity taker or based upon whether the market participant is a market maker, a multi-factored and dynamic system is provided for promoting and controlling market liquidity. Additionally, different rates of debits and credits may be applied, using volume-tiered rates and the trading status of the trader.

Abstract: A database is created for accounting purposes, which can be used to prepare financial statements according to various statutory accounting principles. According to one method, document data records are saved from posting documents to a document database. The document data records include a document header and a data part. The data part includes entries for at least two items each of which comprises a posting amount and an account assigned thereto. Calculation of totals from one or more posting amounts of the document data records are saved for the accounts assigned thereto. The totals are saved to totals entries of a totals table.

Abstract: Aspects of the invention provide for the use of transactional data in determining credit and product offerings. Further aspects of the invention provide for generating financial statements and indices using transactional data for use by users and/or financial institutions. The transactional based financial statements and indices may be used for making underwriting and financial planning decisions.

Abstract: A client device coalesces data received from an exchange, and provides a client application such as a graphical user interface with the opportunity to process fewer, but up-to-date, data updates from an exchange when a large volume of prices becomes available. Accordingly, the trader can be assured of receiving updated information that are fed to the client applications at a rate that is cohesive with that client device's processing speed.

Abstract: The invention relates to a method for billing internet transactions via mobile radio telephone service. By using WAP (Wireless Application Protocol), it is possible to select and, optionally, reserve goods and services (information, tickets, CD's, hotel rooms, etc) sold via the internet. When the customer decides to purchase the good or service, he or she conducts a payment transaction from the mobile radio telephone device. According to the invention, the customer data required for conducting a payment transaction is centrally maintained in a database of a payment gateway.

Abstract: Techniques for managing mortgage delinquency information are described.