Claims Analysis
Total Claims: 10
Claim 1
Independent Claim
185 words
A system for matching orders, including bids and offers, each order being defined by specific variable parameters, the system comprising: a plurality of remote bank terminals for entering bids and offers and their respective parameters: a plurality of local bank computers, each bank computer being coupled to a communication network, each bank terminal being coupled to one of the bank computers; a central computer coupled to the communication network, the central computer including: order matching means for matching corresponding orders based on the similarity of the parameter values; and order broadcast means for communicating oder parameters to the local bank computers using the communication network; characterized by plural credit databases , each database being proximate to and associated with one of the bank computers, each database containing credit data for plural potential sources of orders; and credit filter means in each local bank computer for receiving order data and for accessing the credit database to obtain credit data relating to the source of the order. The central computer further comprising credit availability check means for determining whether the source of an order has available credit.
Claim 2
Dependent Claim
31 words
A system as claimed in Claim 1, the central computer further including trade execution means, responsively coupled to the credit availability check means, for executing a trade corresponding to matched orders.
Claim 3
Dependent Claim
33 words
A system as claimed in Claim 2, further including alert means in the central computer for communicating to the local bank computers that a trade has been executed and parameters of the trade.
Claim 4
Dependent Claim
40 words
A system as claimed in claim 2 or claim 3, further including transaction posting means responsive to execution of a trade for communicating to a local bank computer, the source of the bid for which the trade has been executed.
Claim 5
Independent Claim
68 words
A system as claimed in any one of claims 1 to 4, wherein the credit database comprises a credit rating and a credit line for each source of orders, the credit rating comprising an alphanumeric character representing the creditworthiness of the order source, the credit line comprising an integer representing the maximum amount of credit to be extended to the order source, the integer being a user-changeable default.
Claim 6
Independent Claim
67 words
A system as claimed in any one of claims 1 to 5, wherein the variable parameters for an order include an order minimum credit rating, and wherein the order matching means includes comparison means for comparing an order minimum credit rating to a credit rating in the credit database and for matching the order only if the credit rating is greater than the order minimum credit rating.
Claim 7
Independent Claim
47 words
A system as claimed in any one of claims 1 to 6, wherein the credit line further includes an overnight credit line for application to overnight orders, a term credit line for application to term orders, and a plurality of other credit lines corresponding to other markets.
Claim 8
Dependent Claim
53 words
A system as claimed in claim 7, wherein the credit line comprises a distributive factor for allowing a portion of the overall credit line to be distributed to the term credit line and for allowing a potion of the term credit line to be distributed to the overall credit line or vice versa.
Claim 9
Independent Claim
57 words
A system as claimed in any one of claims 1 to 8, wherein the local bank computers further include query means for requesting a display of outstanding bids, and wherein the central computer further includes query response means for transmitting to the bank terminals order descriptions for outstanding orders for which the bank terminals will extend credit.
Claim 10
Dependent Claim
173 words
A computer data processing method for matching currency transaction orders wherein each order is defined by specific variable parameters and wherein orders are entered at any one of a plurality of remote bank terminals each connected to one of plural local bank computers, comprising the steps of; (a) entering orders and parameter values at the bank terminals; (b) receiving the orders and the parameter values from the bank terminals at a central computer; (c) broadcasting the orders and the parameter values from the central computer to the local bank computers and matching orders at the central computer for which the parameter values are substantially similar, characterized by the further step of filtering the orders at the local bank computers and communicating a credit rating to the central computer, the order matching step including the substep of conducting a credit line availability check by accessing a credit database to determine whether an order has sufficient credit line available, and if so, executing a trade corresponding to the matched orders if the credit is sufficient.