Abstract: Systems and methods for generating an integrated market and credit loss distribution for the purpose of calculating one or more risk measures associated with a portfolio of instruments are disclosed. In at least one embodiment, compound risk factor sampling is performed that comprises conditionally generating multiple systemic credit driver samples for each market risk factor sample generated per time step of a simulation. There are also disclosed systems and methods for determining an optimal number of sample values for each of the market risk factors, systemic credit drivers, and optionally, idiosyncratic credit risk factors that would be required in order to obtain an acceptable amount of variability in the calculated risk estimates and/or to satisfy an available computational budget.

Abstract: Systems and methods for generating an integrated market and credit loss distribution for the purpose of calculating one or more risk measures associated with a portfolio of instruments are disclosed. In at least one embodiment, compound risk factor sampling is performed that comprises conditionally generating multiple systemic credit driver samples for each market risk factor sample generated per time step of a simulation. There are also disclosed systems and methods for determining an optimal number of sample values for each of the market risk factors, systemic credit drivers, and optionally, idiosyncratic credit risk factors that would be required in order to obtain an acceptable amount of variability in the calculated risk estimates and/or to satisfy an available computational budget.

Abstract: Systems and method of enabling trading in currencies are provided. A method of trading a foreign currency option on an electronic trading system according to the invention may include executing a trade of the foreign currency option between a buyer and a seller, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or buy additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option. The method may also include starting a countdown timer and displaying the timer on the graphical user interface of the buyer, the seller and the additional parties and receiving buy and sell orders from the at least one of the buyer, the seller and additional participants.

Abstract: A trading system such as an anonymous trading system for trading financial and other instruments can vocalize trading data to trader workstations as well as display it on a screen. Where a trader selects to receive vocal announcements, a trading floor identifier unique to his trading floor is also announced at random intervals.

Abstract: Transaction information is received and applied to multiple fraud risk mathematical models that each produce a respective raw score, which are transformed with respective sigmoidal transform functions to produce optimized likelihood of fraud risk estimates to provide to a merchant. Respective fraud risk estimates are combined using fusion proportions associated with the respective risk estimates, producing a single point risk estimate, which is transformed with a sigmoidal function to produce an optimized single point risk estimate. The sigmoidal functions approximate a relationship between risk estimates produced by fraud risk detection models and a percentage of transactions associated with respective risk estimates; the relationship is represented in terms of real-world distributions of fraudulent and non-fraudulent transaction.

Abstract: Network-based systems and methods for hosting and operating a network-based platform that allows clients to open and build a portfolio-swap account that is subdivided into a plurality of client sub-accounts or funds. The methods and systems of the invention allow the client to sub-allocate equity-swap transactions among its various client sub-account or funds as the client deems appropriate.

Abstract: A benchmark price reflective of trading in a financial instrument for benchmarking sell-side traders performance is provided by calculating based on received trades a buy volume weighted average price and a sell volume weighted average price for every contra-side party trading in a selected security during a period of time. Ineligible contra-parties are filter out from the determined buy and sell volume weighted average prices and the remaining contra-parties are ranked based on the determined volume weighted average prices from best price to worst to produce ranked, buy volume weighted average prices and ranked sell volume weighted average prices.

Abstract: An interface for trading multiple tradeable objects includes a price axis or scale. A first indication of quantities represented in a market for a first tradeable object is displayed in association with the price axis or scale. A second indication of quantities represented in the market for a second tradeable object is displayed in association with the price axis or scale. The first tradeable object may be different than the second tradeable object. Alternatively, the first tradeable object and the second tradeable object may be the same, but the indications of quantity may be provided from different sources, such as different exchanges.

Abstract: A method and system are provides for an auction with interest rate bidding. The system receives a starting interest rate and a maximum interest rate for an interest-paying (IP) item at a computer. The system publishes the IP item for sale at the starting interest rate, initiates a declining auction and receives bids in the declining auction for the IP item. The system terminates the declining auction based on a predetermined period of time and identifies one or more bids that respectively include an interest rate that is lower than the maximum interest rate. Finally, the system selects a lowest interest rate bid from the one or more bids as a winning bid.

Abstract: A system for structuring a repurchase agreement matchbook (“repo matchbook”) includes in one aspect, separating a repo matchbook from other capital market businesses of a company (such as a dealer). In one embodiment, an independent broker-dealer is created for the sole use of such a dealer. In another embodiment, an independent broker-dealer is created to gain profit by an independent group of investors. Another aspect of the system provides a method for creating a multi-tiered, varied risk capitalization structure for the creation of a new company, which in some embodiments is the independent broker-dealer. A method of risk management that may be applied to the operation of the repo matchbook or another business includes setting out strict operational guidelines for risk mitigation.

Abstract: To process financial articles of trade, real time data is collected from a plurality of liquidity destinations in trading at least one of securities, commodities, options, futures and derivatives, the real time data including information on submitted transactions of financial articles of trade. The real time data collected from the plurality of liquidity destinations is aggregated. The real time data is streamed in a standardized form. User criteria are established to identify relevant portions of the streamed real time data. The streamed real time data is analyzed according to the user criteria. The analyzed real time data is consolidated into a computer data base.

Abstract: Disclosed are systems and methods for processing financial information such that securities backed by tax-exempt bonds may be issued. In one embodiment, the method includes establishing a senior class of securities, such that the senior class of securities includes a guarantee feature; establishing a junior class of securities, such that the junior class of securities serves as collateral for the senior class of securities; and issuing the senior and junior classes of securities, such that the junior and senior classes of securities are backed by assets of a single trust.

Abstract: An improved method of funding and delivering benefits to the retired participants of a defined benefit pension plan. The method does this by having the plan purchase cash value life insurance with respect to each retired plan participant, and then entering into separate agreement(s) with institutional third parties to exchange a portion of the future death benefits from those policies for periodic cash payments that could be used to make pension benefit payments to plan participants as they become due. Such modified funding and delivery mechanism could result in significant cost savings to the defined benefit plan as it may be able to deliver more benefits per dollar of contribution to plan assets, thereby improving the financial health and prospects of the defined benefit plan, while also offering sufficient profit potential to other third parties to induce them to play a necessary role in the funding and delivery of plan benefits.

Abstract: Aspects of this disclosure relate to a method of electronically receiving data from a first external source regarding the creation a first financial account or an update to the first financial account and storing the data from the first external source in a database. Further, the method includes determining whether the data from the first external source represents the creation of the first financial account or an update to the first financial account and if the data from the first external source represents the creation of the first financial account, then electronically transferring to a second external source the data from the first external source.

Abstract: A method of providing an account is provided. The method includes receiving identification information associated with a user during a communication session and communicating a request for credit information, the request including at least a portion of the identification information. The requested credit information is received and an account is approved and opened based at least on the received credit information. During the communication session, a request made using the opened account to place a first order to trade a first product is received. A risk value for the first order is determined. One or more current balances for the account are also determined. The method further includes determining whether to approve the first order based at least on the risk value determined for the first order and one or more of the current balances for the account, and if the first order is approved, placing the first order.

Abstract: A method for assembling and shipping an item using a security cleared space connected to a port authority, comprising the steps of: leasing the security cleared space to a user; obtaining at least one component for assembly of the at least one item; assembling the at least one component in the security cleared space; screening at least one person for entry to the security cleared space; readying the assembled item for shipment to a destination by entering data related to the assembled item into a processor with computer instructions that direct the processor to move the assembled item to a designated storage area or to an aircraft for shipment. A method for receiving an assembled item and disassembling the item into components for storage or shipment is also contemplated.

Abstract: A method and system for authenticating the identity of a consumer is disclosed. After the consumer is authenticated by a trusted third party, the consumer designates accounts that the consumer wishes to “lock.” When a party requests access to that account, the consumer is notified through the consumer's phone and asked to input a PIN. If the consumer provides the PIN, the requestor is granted access to the consumer's account without requiring further input from the consumer. If the party authorizing the transaction in this “two-factor” authentication does not possess both the phone and the consumer's PIN, or that party elects not to provide the PIN, the request will not be authenticated.

Abstract: A money market trading platform provides institutional investors with comprehensive on-line analysis, account management, and on-line money market trading capabilities. An institutional investor's computer is connected via a communication network to a bank or broker's computer. The bank or broker's computer is connected via a communication network to a money market trading system or to a financial services, and stores information about the institutional investor and the accounts held in that investor's name. The trading platform allows institutional investors to log on, check account balances, transfer funds within accounts and from outside accounts, research money market investments, and purchase, redeem and exchange shares of money market funds.

Abstract: Centralized check image storage system. The present invention provides for sharing check images stored in a substantially centralized storage system between and/or among banks in support of the check collection process. In some embodiments, check images are received from the capture bank via a landing zone at the centralized storage facility. These images and information supporting the check collection process can be in the form of load file. A cross-reference file including information supporting the check clearing process such as unique handles identifying the check images is received from a paying bank, possibly also via a landing zone. Check images can be identified based on these unique handles, so that the check images can be made accessible to both the capture bank and the paying bank from the substantially centralized storage system.

Abstract: Methods and systems are provided for performing a tax-deferred transaction involving an Investor owning a Relinquished Property according to structures depending on the form of ownership. One structure can involve an Individual Investor, and another structure can involve an Investor Partnership. The structure involving the Individual Investor as the owner of Relinquished Property can include the steps of: (1) the Investor selling the Relinquished Property; (2) the Investor acquiring as a Replacement Property, directly or indirectly from a REIT or its affiliate for example, an interest in Like Kind Property; and (3) the Investor transferring such interest to the Operating Partnership of the REIT in exchange for DCX Units.