Abstract: The present invention relates to method for revaluing a phone card by way of an electronic commerce terminal system. The method comprise the steps of: communicating transaction data from the phone card to a universal server, with the universal server retrieving further user identification from a database based on a dynamic identification interchange within the universal server; evaluating the validity of the transaction data at the universal server; processing the transaction data and the first form and/or the further form of the user identification information; identifying the at least one user account; requesting and transferring funds either between a first one of the at least one user account and a second one of the at least one user account or between the at least one user account and the phone card to increase the value of the phone card, based on the dynamic identification interchange within the universal server.

Abstract: A method for insuring a stock option issued by an individual company from among a population of companies, to a beneficiary from among a population of beneficiaries, against loss of working ability of the beneficiary and consequent loss of the stock option, the stock option being vestable on at least one vesting date, the method including computing an economic risk factor characterizing the behavior of stock options in the population of companies and an actuarial risk factor characterizing the likelihood of loss of working ability in the population of beneficiaries and, on at least one vesting date, computing a premium based on the economic and actuarial risk factors and on the value of the shares on the vesting date.

Abstract: Using observable market factors which reflect a current share price, a given share price, volatility in given share price, expected debt recovery fraction, and percentage standard deviation in the expected debt recovery fraction, the instant invention provides probability estimates for no default by a company within a given future time horizon. The invention has applications in the field of bond and company rating and calculation of credit spreads. The invention also provides a relationship between credit spreads, equity prices and volatility, useful as a price discovery tool in determining fair market price of the credit risk, on a name basis for credits that have public equity.

Abstract: A computerized mortgage loan system and process to enable borrowers to design mortgage loans that meet their particular individual needs and financial goals, and that can be adapted to fit changing needs and goals is provided. The loan requirements of the borrower are obtained and applied to a set of rules for combining loan product features. One or more loan recommendations are determined and presented to the borrower. The loan recommendations include customized combinations of loan features based on the loan requirements of the borrower and the rules.

Abstract: The present invention is a method and system for closing a real estate sale over a computerized network. More particularly, the present invention enables the parties to a pending real estate sale to enter closing instructions into the system via the Internet and provides for electronic processing of the closing of such sale in accordance with such closing instructions without the need for a human closing agent.

Abstract: The present invention is a method and system for electronic factoring. An electronic platform is provided for guaranteeing payment of receivables. Information from users is input into a profile database upon the electronic platform and is accessible by all users. The buyers are assigned a credit limit and are able to purchase from vendors within that credit limit. The payments for these purchases are guaranteed by a guaranteeing financial institution with is aligned with the platform.

Abstract: A method of valuation of large groups of assets by partial full underwriting, partial sample underwriting and inferred values of the remainder using an iterative and adaptive statistical evaluation of all assets and statistical inferences drawn from the evaluation and applied to generate inferred values. Individual asset values are developed and listed in tables so that individual asset values can be taken and quickly grouped in any desired or prescribed manner for bidding purposes. The assets are collected into a database, divided by credit variable, subdivided by ratings as to those variables and then rated individually. The assets are then regrouped according to a bidding grouping and a collective valuation established by cumulating the individual valuations.

Abstract: An interactive remote auction bidding system for conducting an auction utilizes a data input device for communication over a network to the auction site. The system includes a data processor located at the auction site for generating bid information for communication over the network to the remote locations. A processor located at the auction side monitors the participants' data input devices for sensing participant bids generated by the participants' data input devices. The system further displays visual bid information at the auction site for transmission over the network to the participants and generates audible bid information in support of that visual bid information.

Abstract: A system and method for the correction of credit information and for submitting loan documents. A borrower and/or loan facilitator completes loan documents in an electronic fashion and submits the information over the internet to the systems server of the present invention. The server then acquires credit information and parses the information into a database for subsequent manipulation by the user in any desired fashion. The system also allows for electronic versions of supporting documentation to be assembled electronically with the loan documents so that the loan pack can be a complete electronic version with supporting documents, for presentations to a plurality of lenders. The lenders then respond to the server with their offers and the server presents the offers to the borrower. Thus by bidding on the borrower's loan requirements the lenders provide the most cost effective package to the borrower.

Abstract: An interactive remote auction bidding system for conducting an auction utilizes a data input device for communication over a network to the auction site. The system includes a data processor located at the auction site for generating bid information for communication over the network to the remote locations. A processor located at the auction side monitors the participants' data input devices for sensing participant bids generated by the participants' data input devices. The system further displays visual bid information at the auction site for transmission over the network to the participants and generates audible bid information in support of that visual bid information.

Abstract: A computer-implemented rules based decision management system which is cross-platform, cross-industry and cross-function. The decision management system has a software architecture which includes a common code layer, a processing platform layer and a data architecture layer. The common code layer includes a common code kernel simultaneously operable on first and second hardware platforms which are different from each other, and provides software processing to interpret and apply the strategies. The processing platform layer includes a first software module supporting a processing mode for the first hardware platform, and a second software module supporting a processing mode for the second hardware platform. The data architecture layer includes a first data module supporting data storage and access by the first software module, and a second data module supporting data storage and access by the second software module.

Abstract: A method of providing a user with education financing information, includes the acts of: maintaining an electronic site on a computer network to which the user may connect; sending data to the user over the network for presenting at least one electronic screen which contains financial award information concerning a potential student of an educational institution, the financial award information including a monetary award which may be used for the student to attend the educational institution; and sending data to the user over the network when requested for presenting at least one electronic screen which contains cost projection information, the cost projection information being a function of the award and including an amount of money required for the student to attend the educational institution.

Abstract: A method and system for an automated trading network that continuously collects invisible, anonymous, binding orders and indications of interest to buy and sell specific equity securities at variable, passively determined prices and, then, executes trades based on these collected orders and indications. In general, the binding orders are collected from retail broker-dealers and the binding indications are collected from institutions. The variable, passively determined, non-discrete prices can be linked to the National Best Bid or Offer (NBBO) for each security, or some other prevailing market indicator, at the time a trade is executed. In an embodiment of the method and system, marketable retail orders which match with one or more collected institutional indications, are routed from a Dynamic Order Router (DOR) at each broker-dealer to a Central Order-Match Box (COMB) to be executed against the one or more matched collected institutional indications.

Abstract: Methods and systems are provided for issuing a new type of security, referred to herein as a “Guarantee Certificate,” which offers payments to a holder contingent upon the occurrence of specified risk-related events that would typically trigger an insurance or guaranty payment. Guarantee Certificates offer a mechanism for separating certain payment rights associated with a pool of assets (which may or may not be securitized) from the remaining payment rights associated with the pool, such that the payment rights form separate, transferable financial instruments. These instruments evidence an obligation of a mortgage insurer or a securities guarantor to make payments triggered by certain default-related events involving a corresponding (in the case of a mortgage insurer) or an underlying (in the case of a securities guarantor) mortgage loan or loans. A data processing system creates and maintains information corresponding to the Guarantee Certificates. A Guarantee Certificate may be tradable by the holder.

Abstract: A system and method for monitoring unauthorized changes to a database and providing a notification to a user according to preferences set by the user. The user can select one or more data entries within a database to be monitored. When these data entries are changed, a notification is sent to the user.

Abstract: A method of valuation of large groups of assets by a partial full underwriting, partial sample underwriting and inferred valuation of the remainder using an iterative and adaptive statistical evaluation of all assets and statistical inferences drawn from the evaluation and applied to generate inferred asset values. Individual asset values are developed and listed so that individual asset values can be rapidly taken and quickly grouped in any manner for bidding purposes. The assets are collected into a database, divided into categories, subdivided by ratings and then rated individually. Asset value is continuously recalculated based on progressively improving asset valuation data. The assets are then regrouped for bidding and a collective valuation is established by cumulating individual valuations.

Abstract: The invention provides a method and apparatus for combining two or more risk models to create a risk model with wider scope than its constituent parts. The method insures that the newly formed risk model is consistent with the component models from which it is formed.

Abstract: The present invention relates to a system and method for using an e-duction card as a payment instrument, whereby a purchase price of articles purchased on-line or off-line is deducted from an employee's paycheck. The e-duction card is similar to a credit card but is not bound by the same terms and conditions of a credit card. An employer authorizes the inventive system to accept payroll deduction as a payment option for the employer's employees. The employer and/or the system establish guidelines for utilizing the payroll deduction option during commerce and the system stores the guidelines and identifying information for the employer and corresponding employees in a database. Merchants also sign up with the inventive system and agree to accept the e-duction card is a payment instrument. Thereafter, when an employee selects articles from the merchant's web site or store, the employee may use the e-duction card to pay for the selected articles.

Abstract: A computer-implemented method for providing risk management for online transactions. An exchange price for a foreign currency relative to a base currency is entered into a host computer. The host computer will also receive data descriptive of one or more transactions involving the foreign currency that occurred within a predetermined time period. The data will include a transaction amount. Currency is exchanged according to the entered price and the transaction amounts contained in the data. A risk exposure for the predetermined time period can be calculated based upon an aggregate amount of currency involved in transactions during the predetermined time period. The risk exposure can be based upon market data relating to the price of the foreign currency. The present invention can be implemented to capture each transaction amount that relates to a sale occurring on an e-commerce site. Currency is automatically exchanged at the price entered for the local currency.

Abstract: In an anonymous trading system, credit between counterparties is effectively increased by netting buy and sell trades to reflect the true risk to which each party is exposed. Credit limits are adjusted by calculating the exposure in each currency at the relevant time and then converted into the credit limit currency equivalent. The credit limits are adjusted accordingly. The resulting credit limits may be different for bids and offers by or from a given counterparty.

Abstract: A customer making a credit card transaction inserts their smart card into a card reader attached to the merchant's system. The card reader activates the customer's card and passes certain merchant information. The merchant's system then requests a “billing digest” from the customer's card. The billing digest is returned to the merchant's card reader that forwards it (and the transaction information which includes customer information and merchant information) to the corresponding credit card issuer, which maintains the customer's credit card account. In one embodiment, the customer information and the merchant information are encrypted. Upon receiving the billing digest, transaction information is decrypted if necessary and the credit card issuer looks up the customer's master key using the customer's account number.

Abstract: A method and system for automatically conducting a business transaction between a user and a trader, including the functions of ordering, financial transaction, delivery initiation and data management. A trader terminal (170) includes billing information (200) representative of the trader and a user terminal (100) or user card (800) is used to receive and process the billing information (200) over a local communications link (300). The user terminal (100) or user card (800) includes user information representative of the user. The user information and billing information is transmitted by the user terminal (100) to a service provider (500) over a communications network (400) whereupon the service provider (500) automatically transfers funds of the user, which may be reserved funds, to the trader upon entry of a PIN by the user on the user terminal (100).

Abstract: A method for mortgage and closed end loan portfolio management in the form of an analytic tool designed to improve analysis of past and future performance of loan portfolios. In accordance with one aspect thereof, the invention aggregates loan units into loan vintages, wherein the loans in each vintage originate within a predetermined time interval of one another. The invention compares different vintages to one another in a manner such that the ages of the loans in the different vintages are comparable to one another. An early warning component of the system predicts delinquency rates expected for a portfolio of loans during a forward looking time window.

Abstract: A payment validation network having network of payment validation cells, each of which includes: one or more local qualifier systems for assessing the risk of loss in accepting a check; a service finder for identifying the scope of coverage provided by each of the local qualifier systems and for identifying the scope of coverage provided by other cells; and one or more input/output (I/O) sources for obtaining transaction data associated with a check at a point of presentment.

Abstract: A surrogate system for the transparent control of electronic commerce transactions is provided through which an individual without a credit card is enabled to shop at online merchant sites. Upon opening an account within the surrogate system, the account can be funded using numerous fund sources, for example credit cards, checking accounts, money orders, gift certificates, incentive codes, online currency, coupons, and stored value cards. A user with a funded account can shop at numerous merchant web sites through the surrogate system. When merchandise is selected for purchase, a purchase transaction is executed in which a credit card belonging to the surrogate system is temporarily or permanently assigned to the user. The credit card, once loaded with funds from the user's corresponding funded account, is used to complete the purchase transaction.

Abstract: A method of analyzing and presenting a series of risk factors associated with the operation of a business, such as a bank. Quantifiable risk factors are identified. Ranges of acceptable and unacceptable values for the factors are selected and arranged to each factor. Each risk factor has an immediacy value, or risk tolerance, assigned to it. A business is evaluated by measuring the actual values for each factor found in the business, comparing the actual values to the user-defined acceptable value ranges for each factor and creating a report identifying unacceptable valued risk factors and their immediacy value to the business. The measuring, evaluating and reporting may be automated using a computer, or portions can be done manually.

Abstract: An electronic exchange creates and distributes value among trading partners in a trade. Trading agents for the trading partners use a value manager to store true values for a trading element in the trade. The true values are the values perceived by the trading partner, but are not shown to other trading partners. These true values vary with attributes of the trading element. The attributes modify the trading element and are valued differently by different trading partners. A trade manager receives offers from trading agents. The offers are sent with the true values and the attribute values. The trade manager compares true values of buyers and sellers across a range of attribute values. Net values are computed as the difference of a buyers' sum and a sellers' sum. The buyers' sum is the sum of all true values from buyer trading agents, while the sellers' sum is the sum of the true values of all seller trading agents. The trade manager finds a set of attribute values that has a maximum net value.

Abstract: The present invention, in one aspect, relates to tools for forecasting cash flow and income from a collateral based loan portfolio that are particularly useful in volatile markets. In one specific embodiment, consumer payment behavior is modeled, and account movement is simulated. For each month, actual payment amounts can be compared to delinquency, and frequency of payment can be compared to delinquency. Actual performance is then applied to current contractual payments for forecasting. In addition, the models facilitate determination of where payments are coming from, i.e., who is paying.

Abstract: Methods and apparatus for submitting reports to an automated lending system are described. At a lowest level interface, a user manually submits information via a browser, and at a highest level interface, information is submitted via a print driver. Although the broadest spectrum of client base is addressed by having the loosest coupling to the accounting system, i.e., the lowest level interface, the loosest coupling requires the most user interaction. As the interface level increases, the accounting system has a tighter coupling with the system, which provides increased functionality at the expense of restricting the variety of client types that may be supported (e.g., platform and operating system specific).

Abstract: The present invention is a method of allowing inclusion of more than one variable in a Classification and Regression Tree (CART) analysis. The method includes predicting y using p exploratory variables, where y is a multivariate, continuous response vector, describing a probability density function at “parent” and “child” nodes using a multivariate normal distribution, which is a function of y, and defining a split function where “child” node distributions are individualized, compared to the parent node. In one embodiment a system is configured to implement the multivariate CART analysis for predicting behavior in a non-performing loan portfolio.

Abstract: A computer-implemented cash flow decomposition and repackaging system comprises processing logic and a graphical user interface which is coupled to the processing logic. The processing logic decomposes each of a plurality of home mortgage loans into a plurality of sub-loan level cash flows and repackages the plurality of sub-loan level cash flows to form a plurality of financial assets backed by the plurality of sub-loan level cash flows in accordance with operator inputs. The user interface displays indicia representative of the sub-loan level cash flows, the financial assets, and a relationship between the plurality of sub-loan level cash flows and the plurality of financial assets, including a manner in which at least some cash flows are traceable back to one or more of the plurality of home mortgage loans.

Abstract: Customers often have access to multiple payment methods for any given transaction. In one embodiment of the invention, a merchant obtains information regarding multiple payment methods from a customer, and sends said information to a transaction evaluator. Via computer networks, the transaction evaluator sends information about the transaction to the issuers of one or more of the payment methods. The issuers perform a cost/benefit analysis of the transactions and respond with a description of the terms under which they are willing to process the transaction. Based on the issuer response, the transaction evaluator selects one of the payment methods. By enabling participating issuers to select favorable transactions and avoid unprofitable ones, the invention can thus improve issuer profitability by directing profitable transactions to participating issuers while directing unprofitable transactions away from participating issuers or to alternate transaction methods that are more profitable or less costly.

Abstract: A switch engine module receive interest rate risk portfolios from a plurality of traders, and for each prospective trader, provides available switches based on positions in other counterparty portfolios that offset the viewing traders' positions. The offsetting positions are encoded with credit preference information in order to identify eligible trades based on both counterparties credit preferences. In particular, an embodiment provides for a switch auction whereby users can use an auction process to trade for forward rate agreement switches with other counterparties. In the switch auction, the price is predetermined by the system prior to the auction so that parties can opt out of the transaction if desired. The credit preferences of the participating traders are taken in consideration in making matches.

Abstract: The present invention discloses a method and system for collecting, standardizing, and analyzing lending data from all the offices of a financial institution, including information on small business, home equity, motor vehicle, credit card, mortgage, other secured and unsecured consumer products for commercial, community development, not-for-profit, and consortium customers. The invention enables data collection and analysis in a timely fashion such that interim reports may be prepared so that changes in lending practices can be implemented to assist with assuring compliance with the fair lending acts. A central repository is linked to all of the offices of the financial institution, and data mapping features are used to provide standardized reporting so that all data will be reported in a standardized form. The system processes, collects and standardizes information on new loans, renewals, credit line increases and application decisions for all of the business units within a financial institution.

Abstract: A computer-implemented process prepares bank service charge reports for banking activity of a client. An electronic translator is provided for converting service charge items of a plurality of individual banks, expressed in terminology of the respective individual banks, to a service description expressed in a standardized terminology. Bank service charge items and bank account data are inputted into a computer. The bank service charge items and bank account data are for a specified period of time for one or more banks being used by a client. The bank service charge items and bank account data are obtained from one or more bank statements of a client and are expressed in the one or more statements in terminology used by the one or more banks. In the computer, one or more bank service charge reports are automatically created for the client from the inputted bank service charge items by using the electronic translator.

Abstract: A system and method for providing electronic inquiry, delivery, and reporting of personal credit information to and from credit bureaus, preferably via the Internet. In the preferred embodiment, the system includes a web site that, by using a web browser, allows clients to request credit information from, or provide credit reports to, credit bureaus by entering certain data on pre-built forms in HTML format. The data is encrypted using means for secure transmission, such as a web browser with 128-bit secure socket layer (SSL) technology, then sent to a common gateway interface (CGI) application located on a web server. The CGI application decrypts and reformats the data to a standard format specified by the credit bureau. The CGI application initiates a query. Using a dedicated connection circuit to the credit bureau's computer, the CGI application reformats the response from the credit bureau to an HTML format and encrypts the data using the means for secure transmission.

Abstract: The automated system of the present invention uses the Federal, State, local and professional regulations and requirements and implementing instructions to generate a plurality of tasks which can be used to control and drive the process of handling a mortgage loan application to completion and settlement in accordance with these regulations. Loan requestors may specify that the system will generate the plurality of required tasks, including tasks required by applicable federal and/or state law, provide the plurality of required tasks to the requester for his execution, and monitor the completion of all required tasks so as to provide a completion certificate to the requestor.

Abstract: A method of valuation of large groups of assets using an iterative and adaptive statistical evaluation to generate asset values is described. Individual asset values are developed and listed so that individual asset values can be rapidly taken and quickly grouped in any desired or prescribed manner for bidding purposes. One method of automated underwriting includes defining clusters of financial instruments by common attributes, receiving an expert opinion of value from selected samples of the clusters, checking values for combinations of attributes and reconciling the values. A collective valuation of the assets is established by cumulating the individual valuations.

Abstract: An anonymous trading system (FIG. 1) identifies the best bids and offers (QuoteSubmit, FIG. 3) from those counterparties (WS A1a1) with which each party (WS A1fb1, WS A1b2, ... WS A2a2) is currently eligible to deal, while maintaining the anonymity of the potential counterparty and the confidentiality of any specific credit limitations imposed by the anonymous potential counterparty. To that end, each bid or offer (QuoteSubmit, FIG. 3) for a particular type of financial instrument is prescreened by the system for compatibility with limited credit information (for example, a one bit flag indicating whether a predetermined limit has already been exceeded) and an anonymous “Dealable” price (24,26) is calculated for each of the traders (WS A1b, . . . WS A2a) dealing with that particular financial instrument.

Abstract: The system described herein allows a user to apply for a credit card on-line. If an electronic application is approved, a temporary credit card number is issued on-line for immediate use. The temporary credit card number may be used to purchase goods and/or services on-line until at least one of a plurality of deactivation conditions is detected. Deactivation conditions may include time limits expiring, the reception of certain messages from a client device, and/or purchasing limits being exceeded. If a deactivation condition is found, the temporary credit card number is deactivated. Purchase requests associated with a particular temporary credit card number are approved or denied based on the current activation status of the temporary credit card number and/or the purchasing history associated with the temporary credit card number.

Abstract: A method and system for approval by a verification computer of an online transaction between a user computer and a merchant computer over the Internet. The user computer transmits a transaction request to the merchant computer, which may include a product to be purchased and the payment amount. The merchant computer transmits to the verification computer a verification request including a first data string associated with the payment card (such as a debit card account number or a portion thereof) and the payment amount. The verification request is stored at the verification computer with a transaction identifier and a verification data string, which are also transmitted to the merchant computer. The merchant computer stores the verification data string as an expected verification data string and the transaction identifier, transmits the transaction identifier to the user computer, and the user computer transmits the transaction identifier to the verification computer.

Abstract: A central controller receives from a POS terminal a purchase price and a financial account identifier. The financial account identifier specifies a financial account, such as a credit card account. The central controller, in turn, generates one or more installment plan identifiers defining installment plans for payment of the purchase price. The installment plan identifiers are based on the purchase price and/or the financial account identifier. For example, certain accounts or certain high purchase prices may merit preferred installment plans. The installment plan identifiers are transmitted to the POS terminal. A purchaser at the POS terminal selects whether he would like to pay for his purchase in installments and, if so, using which installment plan. The POS terminal generates a selection signal indicative of whether to accept any of the installment plans, and transmits the selection signal to the central controller. The central controller receives the selection signal.

Abstract: In a method for facilitating financing of new technology, a host computer is connected to a global computer network for receiving, over the network from remote computers, information describing purported advances in technology. The host computer is accessed, for example, by a user, to obtain the information downloaded from the global computer network. An evaluation of the advances in technology so obtained is then performed to determine, for each of the advances, a fixed monetary amount to be contributed in exchange for a unit of equity in a prospective technology development venture to develop the respective advance. Identifications of the advances together with respective values of the determined fixed monetary amounts are transmitted over the global computer network to preselected computers.

Abstract: An exemplary embodiment of a project docket management apparatus includes a processor configured to execute a control program and communicate with a user. In a typical aspect, the processor is located in a server computer. The user is one of the personnel assigned to a given project and has authorization to log into the server and access a database of records. The user communicates with the processor to selectively add, edit, modify and delete project records depending on his access level. If the user is an administrator, he has full control over the database records. If the user has a lower access level, he may only be able to view records, for example. The apparatus further includes a notification structure that periodically distributes information to project personnel based on predefined dates or activities. For example, the project personnel may be notified by e-mail when a date deadline is approaching, or when an action has been authorized or completed.

Abstract: A financial scenario modeling and analysis tool, including a graphical user interface which enables a user of the tool to create a graphical model of a financial scenario, generally including at least one financial transaction, on a display screen, and an engine operable, in response to creation of the graphical model, to automatically generate information, such as financial or mathematical information, which at least partially models at leat a part of the financial scenario using information collected by the engine during creation of the graphical model. The graphical user interface enables the user to create party graphics respectively representing parties to the financial deal, and to generate financial instrument graphics representing financial instruments, wherein each financial instrument graphic connects two of the party graphics.

Abstract: A trigger card and system for preventing credit and debit card fraud is disclosed. The trigger card is adapted to be indistinguishable from typical credit cards and other cards issued by financial institutions. The system is adapted to receive signals when a standard card reader reads the trigger card. The system is further adapted to initiate an automated procedure to reduce fraud upon receipt of the signal indicating that the trigger card has been read by the card reader.

Abstract: When a plurality of cards are produced successively, a risk value is calculated in regard to either data deletion or change on the card issue data of each card caused by cancellation of issue or a change of address. The cards are produced in ascending order of the risk value, so that the production of a card having higher occurrence probability of data deletion or change is postponed to the maximum extent. With this, it becomes possible to reduce such work as discarding the card due to the issue cancellation or replacing a pasteboard due to the address change required after the card is produced. Thus, efficient card issue processing can be obtained.

Abstract: The invention includes a method of financing eCommerce purchases including: receiving over the Internet buyer registration information. Then evaluating a credit rating for the buyer and passing over the Internet the credit rating to a seller, and then receiving over the Internet from the seller seller's credit options for the buyer. The next steps are determining other credit provider's credit options for the buyer, creating a database of the credit options for the buyer. After receiving over the Internet an order for the buyer, then querying the database with query criteria specific to the order, thereby resulting in a report of credit options for the buyer for the order. Passing over the Internet the report to the buyer; receiving over the Internet the buyer's selection of a credit option; passing over the Internet a payment schedule for the buyer to an intermediary; and receiving payment remitted from the buyer.

Abstract: A method of providing financing is provided. The method provides financing for allowing a customer to purchase a product selected from an inventory of products maintained by a dealer. The method includes the steps of maintaining a database of the dealer's inventory, gathering information from the customer, calculating a credit score for the customer based at least in part on the information gathered from the customer, determining an advance amount to be paid to the dealer for each individual product in the dealer inventory in the event that that particular product is sold to the customer, calculating a front-end profit to be realized by the dealer for each individual product in the dealer inventory, and presenting a financing package to the dealer for each individual product in the dealer's inventory.

Abstract: A system for determining an intra-day net asset value proxy of an actively managed exchanged traded fund and the like includes a trusted computer system that has a physical hardware and operating system configuration in which domain configuration and trust relationships are established to determine access to information in the trusted system. The system also decrypts a file having adjusted portfolio information to provide security positions and calculates the intra-day net asset value proxy for the fund by applying prices received from a quote feed to security positions in the fund portfolio.