US5038284A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method and apparatus relating to conducting trading transactions with portable trading stations
Assignee: Individual
•
Filing: 1988-02-17
•
Granted: 1991-08-06
•
Expires: 2008-02-17
Abstract
Abstract A central computer equipped with communications hardware and specially designed software receives transaction data from personal transaction stations operated by traders, sends back verification information to the traders, reconciles all trades, informs traders when an error occurs, generates complete records of all transactions, reports price and volume data to quote vendors, provides numerous reports which analyze trading activity to detect potential regulatory violations, creates a complete real-time backup copy of all data, and provides intraday profit, loss, risk, and margin information to exchange and Futures Commission Merchant personnel.
Inventors
- 👤 Robert M. Kramer
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-02 13:28
CPC Classifications
H; H04; H04L; H04L12/00; H04L12/02; H04L12/16; H04L12/18; H04L12/1804; G; G06; G06Q; G06Q40/00; G06Q40/03; G06Q40/04
Claims Analysis
Total Claims: 33
Claim 1
Independent Claim
221 words
A system for processing open outcry transactions between opposing traders, said system comprising a plurality of portable transaction station means for converting manually entered data relating to said open outcry transactions into first transmissible signals and transmitting said first signals, and for receiving second signals and converting the said second signals into visually perceptible displays, utilization means for producing information relating to said transactions, and host means for receiving and processing said first signals and for transmitting said second signals, said host means including processing means for reconciling first signals representing agreed buy and sell transaction data entered by traders with first signals representing agreed buy and sell transaction data entered by opposing traders and for determining correspondence between the agreed buy and sell transaction data entered by traders with agreed buy and sell transaction data entered by opposing traders, said host means including means for transmitting second signals relating to said correspondence to said portable transaction station means, said host means further including means for transmitting data relating to said transactions to said utilization means in at least substantially real time, said first signals respectively including portions identifying traders and opposing traders in agreed transactions, said second signals including portions identifying traders and opposing traders to whom the second signals are transmitted to indicate reconciliation or lack of the same.
Claim 2
Independent Claim
221 words
A system for processing open outcry transactions between opposing traders, said system comprising a plurality of portable transaction station means for converting manually entered data relating to said open outcry transactions into first transmissible signals and transmitting said first signals, and for receiving second signals and converting the said second signals into visually perceptible displays, utilization means for producing information relating to said transactions, and host means for receiving and processing said first signals and for transmitting said second signals, said host means including processing means for reconciling first signals representing agreed buy and sell transaction data entered by traders with first signals representing agreed buy and sell transaction data entered by opposing traders and for determining correspondence between the agreed buy and sell transaction data entered by traders with agreed buy and sell transaction data entered by opposing traders, said host means including means for transmitting second signals relating to said correspondence to said portable transaction station means, said host means further including means for transmitting data relating to said transactions to said utilization means in at least substantially real time, said first signals respectively including portions identifying traders and opposing traders in agreed transactions, said second signals including portions identifying traders and opposing traders to whom the second signals are transmitted to indicate reconciliation or lack of the same.
Claim 3
Dependent Claim
43 words
A system as claimed in claim 1, wherein said utilization means comprises futures commission merchant means and quote vendor means, said host means including means for transmitting data relating to said transactions to said futures commission merchant means and said quote vendor means.
Claim 4
Dependent Claim
28 words
A system as claimed in claim 1 wherein said portable transaction station means and host means include radio transmission and reception means to transmit and receive said signals.
Claim 5
Dependent Claim
21 words
A system as claimed in claim 1 wherein said portable transaction station means include means for detachable connection to the traders.
Claim 6
Dependent Claim
24 words
A system as claimed in claim 4 wherein the means for detachable connections includes a wrist strap on each said portable transaction station means.
Claim 7
Dependent Claim
25 words
A system as claimed in claim 4 wherein said portable transaction station means include programmable means for the updating of the portable transaction station means.
Claim 8
Dependent Claim
44 words
A system as claimed in claim 1 wherein said portable transaction station means include portable casings, key means on said casings for the manual entry of data relating to transactions, and activating means for selectively activating and deactivating the related portable transaction stations means.
Claim 9
Dependent Claim
25 words
A system as claimed in claim 7 wherein the activity means is recessed to prevent accidental activating and deactivating of the portable transaction station means.
Claim 10
Dependent Claim
24 words
A system as claimed in claim 7 wherein said key means include bid and asked key means for reporting quotes in addition to transactions.
Claim 11
Dependent Claim
66 words
A system as claimed in claim 7 wherein said key means include means for entering data relating to identification of the identity of the enterer of the data, identity of the item which is the subject of the transaction, and whether the transaction is buy or sell, volume, price, time, date, FCM identity, contra, transaction number and whether the transaction was done as principal or agent.
Claim 12
Dependent Claim
43 words
A system as claimed in claim 7 wherein said portable transaction station means include detachable printing means for selectively printing data entered into and received by the related portable transaction station means, and activating means for selectively activating and deactivating the printing means.
Claim 13
Dependent Claim
26 words
A system as claimed in claim 7 wherein said portable transaction station means include respective transaction display screens for displaying visually perceptible data relating to transactions.
Claim 14
Dependent Claim
26 words
A system as claimed in claim 12 wherein said portable transaction station means include respective position display screens for displaying visually perceptible data relating to positions.
Claim 15
Dependent Claim
43 words
A system as claimed in claim 12 wherein the portable transaction stations means are adapted to work according to selected plurality of means, said portable transaction station means including menu storage means and means for selectively calling up menus from said storage means.
Claim 16
Dependent Claim
26 words
A system as claimed in claim 7 wherein said portable transaction station means include respective position display screens for displaying visually perceptible data relating to positions.
Claim 17
Dependent Claim
17 words
A system as claimed in claim 7 wherein the key means include means to control scrolling speed.
Claim 18
Dependent Claim
23 words
A system as claimed in claim 7 wherein the key means include clear-last-digit keys, handle-up and handle-down keys, and tick-up and tick-down keys.
Claim 19
Dependent Claim
22 words
A system as claimed in claim 7 wherein said portable transaction station means include means for the automatic entry of transaction numbers.
Claim 20
Dependent Claim
24 words
A system as claimed in claim 7 wherein the key means includes means for automatically negating a transaction and for automatically voiding a transaction.
Claim 21
Dependent Claim
29 words
A system as claimed in claim 7 wherein said portable transaction station means include means for the printing out of data relating to transactions, positions, average cost and profit/loss.
Claim 22
Dependent Claim
21 words
A system as claimed in claim 7 wherein said portable transaction station means include means for the dating of the transactions.
Claim 23
Dependent Claim
21 words
A system as claimed in claim 21 wherein said host means includes means for the automatic time stamping of the transaction.
Claim 24
Dependent Claim
33 words
A system as claimed in claim 7 wherein said portable transaction station means include means for the computation of net position, average cost, realized profit/loss, unrealized profit/loss, and total profit/loss for all positions.
Claim 25
Dependent Claim
32 words
A system as claimed in claim 1 wherein said portable transaction station means include opposite sides and data entry control means on the fronts and sides of the portable transaction station means.
Claim 26
Dependent Claim
21 words
A system as claimed in claim 1 wherein said host means includes means for the automatic time stamping of the transaction.
Claim 27
Dependent Claim
27 words
A system as claimed in claim 1 wherein said host means includes security means for preventing the unauthorized use of any of said portable transaction station means.
Claim 28
Dependent Claim
38 words
A system as claimed in claim 1 wherein said host means includes communication control means for identifying which portable transaction station means is sending data and to which portable transaction station means the host means should transmit responses.
Claim 29
Dependent Claim
23 words
A system as claimed in claim 1 wherein said host means includes storage means for storing all trades, reconciled trades and unreconciled trades.
Claim 30
Dependent Claim
22 words
A system as claimed in claim 1 wherein said host means includes means for the storage and continual monitoring of trader accounts.
Claim 31
Dependent Claim
20 words
A system as claimed in claim 1 wherein said host means includes means for the analysis of unusual trading patterns.
Claim 32
Dependent Claim
20 words
A system as claimed in claim 1 wherein said host means includes means for generating graphical analysis of stored data.
Claim 33
Dependent Claim
17 words
A system as claimed in claim 1 wherein said host means includes means for broadcasting news items.
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1994-08-05 | 1995-02-04 | 1995-08-06 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 1998-08-05 | 1999-02-04 | 1999-08-06 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2002-08-05 | 2003-02-04 | 2003-08-06 | $7700.00 | Window Closed / Lapsed |