Abstract: The present inventive device provides a new method of real-time, interactive, competitive, live on-line auction using an animated auctioneer. The animated auctioneer initiates the auction, actively solicits bids from the auction participants, acknowledges bids input from auction participants, and moves to close the auction when there is a cessation in bidding. In the course of the auction, the auctioneer audibly and physically promotes the item up for bid, and entices the participants to bid. Participants input bids real-time, competitively and successively in response to the animated auctioneer's solicitations.

Abstract: An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received by a plurality of unaffiliated banks from their depositors. For selected large deposits received at an unaffiliated bank, a first deposit portion that does not exceed the established deposit limit is retained at the unaffiliated bank that received the large deposit. An order is received from the unaffiliated bank that received the large deposit to process the remaining amount of the large deposit. The processor partitions each of the large deposits into a plurality of second deposit portions, each of which do not exceed the established deposit insurance limit. The processor then assigns at least some of the second deposit portions to at least some of the other unaffiliated banks for deposit therein.

Abstract: A method of creating and trading corporate debt security derivative investment instruments on an exchange, as well as a trading facility for trading such derivatives, is disclosed. Corporate debt security derivative investment instruments are created by identifying a credit rating service that includes a plurality of risk categories. Unique monetary values are mapped to risk categories and an entity rated by the credit rating service is identified. A corporate debt security derivative investment instrument is then created whose value is determined at least in part by the monetary value to which the risk category associated with the rated entity is mapped.

Abstract: An issuing system for issuing unmodifiable and/or unforgeable hardcopy documents or securities includes a server and a plurality of issuing machines connected to the server via a network. Each of the issuing machines receives an ID recording medium provided by a potential purchaser, retrieves an identification recoded in the received ID recording medium, requests the potential purchaser to input request for a transaction of the security or fixed rate financing instrument, processes the requested transaction by retrieving information via a network from the server, and prints out on demand a hardcopy of the security or fixed rate financing instrument as purchased by the potential purchaser and a checksum thereon. A method for forming a new market with the issuing system.

Abstract: In one aspect of the invention, a customer accesses an eCommerce server maintained by a merchant via a communications network such as the Internet. Before the customer can complete a transaction, such as ordering goods or receiving on-line services, the merchant requests a tender of payment. If the tender of payment is declined, the merchant offers the customer credit for completing the transaction wherein the credit is guaranteed by a guarantor. The guarantor pays the merchant for the customer's transaction and sends an account statement including a request for payment to the customer. The amount the guarantor pays to the merchant may be dependent on the reason for the decline and one whether or not customer information is used to verify the customer. The account statement may also include an offer to the customer by the guarantor of a credit account.

Abstract: The present invention provides a life insurance product known as longevity insurance. Longevity insurance mitigates longevity risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of longevity insurance guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a later date, which may be utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated assets.

Abstract: An Enterprise Management Portfolio Hub allows a user to perform enterprise portfolio management activities from a single point of control. EPMH relates information, analysis, display and control based on the organizing concept of the business components that comprise the CBM map of the enterprise by collecting portfolio information from existing portfolio management tools and generating a portfolio model. It allows the user to interact with or access information from various Portfolio Management applications and services through the portfolio model. EPMH supports evaluative techniques that can be used to identify areas for business transformation and to generate transition plans.

Abstract: A financial institution may use the bank routing and account number information (ABA/DDA) of a checking account or the like, obtained from paper checks previously submitted by a customer, in an electronic payment program. When a customer who has previously paid a credit balance by check, for example, wants to enroll in the electronic payment program, an abbreviated enrollment process is provided in which the consumer only enters a portion of bank routing information, instead of having to enter the full ABA/DDA as in the standard enrollment procedure. In some cases, the customer may leave such information blank and needs only to confirm that the stored bank account information corresponds to the account being used for the electronic payment.

Abstract: In an embodiment one or more alternate entity structures are created in response to a base entity structure. A tax liability is determined for each alternate entity structure and the base entity structure; furthermore, a result is generated in response to comparing each of the determined tax liabilities with one another.

Abstract: In one general aspect, a financial advisor support method is disclosed that includes presenting on a wireless handheld device a list of accounts of different types held by a household entity at different institutions, receiving through the wireless handheld device account selection commands for a selected account in the list presented in the step of presenting, and presenting on the wireless handheld device account information for the selected account in response to the step of receiving.

Abstract: A method and system for pricing, designing, and marketing, insurance policy contracts is disclosed. The policy contracts comprise a first period of coverage for a first benefit amount for which a premium is paid to an insurer on behalf of an insured person by a sponsoring organization and a second period of coverage for a second benefit amount for which a premium is paid to the insurer by the insured person, wherein prior to the first period of coverage, the insurer obtains authorization from the insured to have premiums for the second period paid automatically from an account, comprising the steps of charging the sponsoring organization a premium for the first period of coverage upon entering into a policy contract between the insurer and the insured, and automatically charging one or more premiums to the account of the insured at the end of the first period and during the second period of coverage.

Abstract: The disclosure details the implementation of an apparatus, method, and system for a macroeconomic equity investment design and trade system (the Wavefront system). The disclosure teaches a set of quantitative tools to help investors design trades around macro themes. Part of the approach is a linked set of models called Wavefronts, which describe how economic shocks ripple through the economy into company performance, market value and equity returns in the US market. In one embodiment, the modeling may be viewed as having in three parts. The first converts an economic shock into a comprehensive set of shifts in the economy. The second takes those economic shifts and drives them into company fundamentals. The third values those fundamentals based on what the market normally pays.

Abstract: A reconciliation process identifying financial assets in a financial system that do not also exist in the real world, such as is indicated in a discovery system, generates a list of exceptions that can be examined by type of exception. The list of exceptions also includes aggregate financial impact information for the exceptions, such as aggregate cost, fair market value, and net book value. An interface allows a user to view the financial impact information and better decide how to handle the assets corresponding to the exceptions, such as by retiring at least some of the assets, routing some of the exceptions to another user better able to handle the exceptions, or storing the list so that an investigation can be done into at least some of the assets. The financial impact information becomes particularly critical near quarter-end and year-end, as any material impact to the books requires timely disclosure.

Abstract: A system and method for prioritized data delivery in an electronic trading environment are described herein. According to one example embodiment, by prioritizing the messages associated with a tradeable object, the bandwidth and system resource usage may be optimally reduced, and any loss of priority content in the messages sent between the network device and the client device may be reduced. An example method includes associating different priority levels with messages comprising market data. Messages containing market information related to the inside market may be associated to a higher priority level. Whereas messages containing market information relating to the quantities at prices outside the inside market may be associated with a lower priority level. Based on the priority level associated with a message, a network device may send the message directly to the client device or store the message in a data structure until a pre-defined condition is satisfied.

Abstract: A purchase account may be managed to control purchases made using the account. An account number may be provided at a point of sale. The account number is associated with or includes an identifier for a class or type of goods or services. A merchant computer may receive the identifier and process it to determine whether what is proposed for purchase using the account is a qualified type of good or service. The computer may obtain a list of qualified or unqualified products and compare the list to what is proposed for purchase. In the alternative, the computer may provide instructions to a human operator for the merchant, who may determine whether or not the proposed product is qualified. If the proposed product is deemed qualified for purchase, use of the account may be approved; if otherwise, use of the account may be refused.

Abstract: An electronic bill presentment and payment system including an extensible, customizable, data source independent data layer for accessing a business data repository for processing billing information. The business data repositories use one or more data source formats. A business logic module generating business data requests for data from the business data repository in order to carry out processing of billing information. The business data requests are independent of the one or more data source formats of the business data repository. A data layer descriptor repository stores customizable data source descriptions for generating the data layer. The data layer is generated from the customizable descriptors in the data layer descriptor repository. The data layer module receives the data source independent business data requests and based on the request, the data layer implements a data source specific method for fulfilling the request by accessing data in the business data repository.

Abstract: A system and method for calculating and applying insurance costs. For vehicle insurance under one embodiment of the present invention, insurance costs are calculated on a per-mile basis in a nonlinear fashion, assigning different levels of risk based upon the distance driven by a customer. In one embodiment of the present invention, the first miles or kilometers driven by a customer are assigned a greater level of risk than later-driven miles or kilometers. The present invention provides an actuarial method that more closely conforms the cost of insurance for a particular vehicle to its annual mileage by creating a Rate Per Mile Factor (RMF), where the RMF is expressed as a function of annual mileage.

Abstract: A method of estimating credit risk associated with a financial asset includes receiving data regarding the asset and corresponding to a first date; determining a parameter using received data and the amount of time between the first date and a second date, the parameter being based on a predetermined estimate of the predictive value of received data with regard to a possible adverse event associated with the asset on the second date; and determining a probability of the adverse event as a function of the parameter. A system for estimating credit risk associated with a financial asset includes memory configured to store received data regarding the asset and a processor coupled to the memory and operable to execute programmed instructions, wherein the programmed instructions are configured to determine the parameter and the probability of the adverse event as a function of the parameter.

Abstract: As market conditions descend or ascend an axis of prices, the display of market information is repositioned, at a pre-determined rate if desired, around an item of interest. An item of interest may include the best bid price, the best ask price, the inside market, a moving average, a last traded price, a theoretical value, the result of an equation, or some other item of interest to the trader. According to the present embodiments, market information may be displayed in a region relative to an axis of prices, and when an event occurs, a repositioning signal is initialized causing the axis to be repositioned such that the item of interest is positioned at a pre-determined location in the region. The price axis can be repositioned at a fixed rate or at a dynamically variable rate.

Abstract: A financial product is created by receiving funds from investors to purchase collateral, such as stock or bonds, in companies to populate an insurance portfolio and a risk portfolio. Notes backed by the collateral are issued to the investors and pay a coupon amount based on the performance of the collateral. The collateral is monitored over time to determine whether distressed equity events occur which coincide with the collateral value falling below a predetermined amount of its original share price. The number of distressed equity events between companies in the insurance portfolio and risk portfolio offset each other to give a total number of net hits. Subsequently, the total number of net hits is used to calculate an impact on the amount of the coupon pay-out to the investors.