Abstract: A trading process automatically requests a short term option having a term of less than a minute, and sometimes less than a second, from a market process. The trading process and the market process both operate on a platform. The market process requests a platform service to set a timer to measure the expiration time of the short term option, and to notify the market process and the trading process at the expiration of the short term option. The short term option is particularly useful for a list of orders that must be executed, if at all, at a guaranteed price; in which case, the platform may adjust the expiration time of the short term options associated with the orders in the list to ensure that the orders in the list can be executed at particular respective prices.

Abstract: A system and method that estimates the financial impact in terms of savings and costs of performing a resource reduction addresses is provided. Financial impact estimates are determined before the surplus action is initiated in order to estimate the savings of a planned surplus action and in order to estimate the costs of paying severance payments to employees. When estimating compensation savings and severance costs, the percentage of surplus employees in various skill groups are multiplied by average employement data to estimate the total savings amount and total severance costs. Management evaluates the employees in the affected skill group areas to determine which individual employees are surplus employees and should be removed. Actual financial impact data is calculated after the surplus employees have been identified. Employment data records corresponding to the surplus employees are used to calculate the total compensation savings and the total severance cost.

Abstract: A computer-implemented method includes transmitting tax related data to a selected financial institution, reporting the data and remitting funds corresponding to the data, over an interactive communications network, to a selected government authority. XML-based transaction requests and responses may be used to facilitate the method.

Abstract: A system for an electronic-based market is disclosed. The system operates with a model where a trader is designated to enter orders for contracts on behalf of a subscriber. The model uses assets of the subscriber that are placed into an account that is accessible by the electronic market to cover risks associated with trades initiated by the trader. The system includes a plurality of client stations for entering orders into the electronic market by traders and a server to receive the orders and match the orders in accordance with matching criteria. The server maintains for the subscriber and the subscriber's associated traders a trading account that is accessible by the electronic market. The server also includes offsetting, clearing, default, and margin protocols functions to administer the market. The market uses species contracts that are derived from a contract genus.

Abstract: A computerized method of administering an annuity product having a withdrawal feature and a guarantee comprises the steps of establishing an annuity account from which withdrawals can be made, inputting data relating to the annuity account, paying withdrawals to the account owner, and providing a guarantee. Inputted data relating to the account includes a maximum withdrawal rate for a given withdrawal frequency. The guarantee provides that, even if the account value is exhausted before the end of a specified time period, amounts up to the maximum withdrawal will continue to be paid for the specified period, provided that withdrawals before the account value is exhausted do not exceed the maximum rate. The specified time period may be a lifetime period, a period of years or months chosen by the account owner when the account is established, or a period during which withdrawals at least equal a specified percentage of the account value, or a highest account value achieved, as of a specified date.

Abstract: An index-linked insurance product having an annual guarantee is implemented having a maximized hedged investment budget. A net premium payment is allocated to a fixed income investment and an annual fixed income yield is projected. The maximized hedged investment budget is determined by deducting from the projected annual fixed income a product spread and an estimated cost of the annual guarantee. The deducted estimated cost of the annual guarantee is allocated to a risk fund. The maximized hedged investment budget is allocated to a hedged investment designed to generate proceeds for supporting index-linked earnings credited to the index-linked insurance product. Upon expiration of the product term, if the amount credited based on the index-linked earnings does not equal to at least the compounded annual guarantee, the amount credited is increased to be equal to the compounded annual guarantee. The increased credit may be supported using funds from the risk fund and other reserves if necessary.

Abstract: A method and system for automated settlement and on-line debiting of a financial transaction, such as an emergency-cash transaction, is provided. A bank customer enters a foreign-branch bank and indicates a need for emergency cash. The customer is given a telephone by which the customer communicates with an interactive-voice response system in the customer's language. The system bridges the customer with the customer's home bank, which approves the requested emergency cash. A network in communication with the voice response system and with the issuer automatically initiates an on-line debiting of an account of the customer. The network also initiates and carries out settlement between the acquirer and the issuer by way of settlement accounts.

Abstract: An Interbank Deposit Placement System (IDPS) that allows banks participating in the service to offer their customers multiple deposits so that potential deposit (fund) amounts exceeding an applicable Federal deposit insurance limit (e.g., $100,000) are fully insured. The IDPS partitions each of the potential deposit amounts into a plurality of deposit portions that do not exceed the Federal deposit insurance limit. In one embodiment, a proposed list of banks to which the deposit portions are allocated is presented to a recipient (e.g., bank representative, depositor) who is offered the option of modifying the proposed list during an established time window. After the time window expires, a deposit is established on behalf of each bank on the list to which the specific deposit portion was allocated by the processor.

Abstract: Systems for effecting online financial transactions between individuals are disclosed. Any user may initiate a send money transaction or a request payment transaction with any other entity provided that entity has an e-mail address. For a send money transaction, the user sending money (payor) enters an amount of funds to be transferred and an e-mail address of the recipient of the funds (payee). The transfer request may include an identity confirmation through which the payor confirms the identity of the payee. The system sends an e-mail message to the payee at the address provided indicating that the amount of funds has been “received” on the payee's behalf. The payee may open an online account or identify an existing online account to complete the transaction as well as provide identity confirmation for the payor. Upon confirmation, the transfer may occur.

Abstract: Trading software may receive trading information from an exchange. The trading software may use the trading information to compute an estimate of last traded total sweep quantity. The trading software may also display the last traded total sweep quantity on a trading screen.

Abstract: A method of multi-enterprise optimization at a buyer computer (20) includes accessing a forecasted demand for at least one item and generating one or more proposed flexible trade contracts (500, 530, 560) using the forecasted demand for the item. The proposed flexible trade contract (500, 530, 560) is communicated to a seller computer (40) and subsequently executed after acceptance of the proposed flexible trade contract (500, 530, 560) at the seller computer (40) to create a flexible trade contract (500, 530, 560). Each proposed flexible trade contract (500, 530, 560) may be a forward contract (500), an option contract (530), or a flexible forward contract (560).

Abstract: In a system for a financial institution or other information maintainer, has a list of its account holders that also have accounts with a portal and have agreed to link their portal account and user account with the financial institution or other information maintainer. When a user logs onto the user's portal account, the portal server can request information from the user account over a trusted link to the financial institution or other information maintainer. The portal can request data for a particular user over the trusted link or can request bulk data for all users, using portal authentication data, as opposed to user authentication data. In the preferred embodiment, the actions allowed on a user account by the portal authentication data are more restrictive than the actions allowed by the user authentication data.

Abstract: Trading software may receive trading information from an exchange. The trading software may use the trading information to compute an estimate of last traded total sweep quantity. The trading software may also display the last traded total sweep quantity on a trading screen.

Abstract: Components can be received within regions of limited access present in an equipment-supporting rack using an installation fixture including a pair of mounting plates which are pivotally connected to each other by a hinge positioned along lateral edges of the respective mounting plates. One mounting plate includes a bracket for fixed connection to the rack, and the other mounting plate includes a surface for receiving a desired component. Rotation of the mounting plate receiving the component relative to the mounting plate fixed to the rack permits the component to be conveniently accessed when servicing is desired, and returned to the region of limited access during normal system operations. A locking mechanism is preferably provided for securing the component and the mounting plate which receives the component in desired position during normal system operations.

Abstract: A process for facilitating payment card transactions from an underlying virtual account that exists as a data entity within a trust account, wherein cardholders are able to purchase goods and services from a merchant. The cardholder may execute a transaction at any venue which presently accepts a debit card for payment. The funds of the trust account need not be linked to a checking account or credit account, wherein the liability of the cardholder, card issuer, and merchant can be reduced. Preferably, the virtual account is initially established when the card is issued and activated, and can be depleted through one or more transactions for which the card is used as the means of payment, or monetary transfer, and may be recharged from time-to-time by depositing additional funds into the virtual cardholder account or crediting the balance of the virtual account as the result of a merchant refund, adjustment, or transfer from another cardholder.

Abstract: Briefly, according to the present invention, ownership right in an asset is transferred using a probabilistic model. In one exemplary embodiment, the system and method of the invention implements the probabilistic model by a raffle system that facilitates the transfer of ownership in any asset. An asset can be any valuable item that is owned, including any type of product, good or service. In an exemplary embodiment, the participants interface with the system over a network of interconnected wired or wireless devices, such as the Internet.

Abstract: A network-based payment service provides various features for facilitating online, user-to-user payments. One feature involves the ability for users to define customized pay pages for receiving payments from other users. The pay pages are preferably hosted by a service provider site that handles the collection process, and may be created using pay page templates that specify the layouts and behaviors of the pay pages. In one embodiment, a pay page owner can also define one or more “pay boxes” to allow payments to be initiated from other web sites, which may include the web sites of associates who receive commissions on resulting payments. Another feature involves the ability for users to make single-action payments from web sites external to the service provider site. Also disclosed are various features for controlling access to content and services based on whether, or an extent to which, a visitor has made voluntary or mandatory payments.

Abstract: A modular display system comprises a plurality of identical modules. Each module includes a vertical mounting surface, a pair of sidewalls, top surface and a bottom surface lying in planes which extend at right angles to the mounting surface. A pair of top rails lie above the top plane and form outward facing channels. A pair of bottom rails extend inward from respective sidewalls just above the bottom plane, each bottom rail engaging in a respective channel when two modules are assembled one above the other. The inner surfaces of at least one of the top rails and the bottom rails converge toward the top or bottom plane at an acute angle so that the inner surfaces of the top rails are received against the inner surfaces of the bottom rails in a press fit. The modules are latched in this position by a detent and shoulder arrangement.

Abstract: A method for offering stock. The method includes offering a first portion of shares of the stock at a first price and offering a second portion of the shares at a second price after a first trading interval of a first predetermined time period after the offering of the first portion of the shares.

Abstract: A computerized system and method process financial securities and instruments to accurately determine and optimize the after-tax proceeds an investor could expect to have at the end of a holding period for each of a set of investment strategies and determines an optimal strategy for maximizing such after-tax proceeds.