WO2002007039A8 - System for trading fixed income financial instruments: u.s. treasury securities, liquid agencies and zero coupon strips - Google Patents

System for trading fixed income financial instruments: u.s. treasury securities, liquid agencies and zero coupon strips

Info

Publication number
WO2002007039A8
WO2002007039A8 PCT/US2001/021806 US0121806W WO0207039A8 WO 2002007039 A8 WO2002007039 A8 WO 2002007039A8 US 0121806 W US0121806 W US 0121806W WO 0207039 A8 WO0207039 A8 WO 0207039A8
Authority
WO
WIPO (PCT)
Prior art keywords
price
inventory
agencies
liquid
financial instruments
Prior art date
Application number
PCT/US2001/021806
Other languages
French (fr)
Other versions
WO2002007039A2 (en
Inventor
Thomas C Naratil
Original Assignee
Ubs Painewebber Inc
Thomas C Naratil
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Ubs Painewebber Inc, Thomas C Naratil filed Critical Ubs Painewebber Inc
Priority to EP01957124A priority Critical patent/EP1312015A2/en
Priority to AU2001278897A priority patent/AU2001278897A1/en
Publication of WO2002007039A2 publication Critical patent/WO2002007039A2/en
Publication of WO2002007039A8 publication Critical patent/WO2002007039A8/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/06—Asset management; Financial planning or analysis

Abstract

La présente invention concerne un système permettant d'échanger automatiquement des instruments financiers tels que des bons du trésor, des titres liquides émis par des organismes fédéraux et des titres vendus sans coupon, qui comprend une base de données de système à jour, une base de données d'inventaire d'offres qu'on peut mettre à jour, laquelle reçoit des informations relatives aux quantités et aux cours en temps réel concernant chaque instrument financier en provenance d'une source de données de marché. Ce système comprend aussi un système propriétaire opérationnel permettant de déterminer un meilleur cours d'offre et de demande national et un cours calculé pour chaque instrument financier figurant dans l'inventaire des offres. Ce système propriétaire applique un processus d'amélioration de cours à un échange pour le cas où un échange symétrique surviendrait, et il met à jour la base de données du système et l'inventaire des offres de façon qu'ils reflètent les transactions exécutées par le système. Ce système permet à des utilisateurs d'obtenir le meilleur cours au moment de l'exécution grâce à un mécanisme. On utilise des données d'historique pour (i) donner des cours de titres qui sont diffusés par un étalon lorsqu'une cote active n'est pas disponible pour un titre particulier, et pour (ii) retrouver des cours en vue d'analyse ultérieure. On obtient ainsi le marché mondial des revenus fixes avec un système qui peut répondre aux besoins des industries dans le long terme et s'adapter immédiatement à un environnement en mutation.The present invention relates to a system for automatically exchanging financial instruments such as treasury bills, liquid securities issued by federal agencies and securities sold without coupon, which includes an up-to-date system database, a Updatable inventory data, which receives real-time quantity and price information for each financial instrument from a market data source. This system also includes an operational proprietary system making it possible to determine a better national supply and demand price and a price calculated for each financial instrument appearing in the supply inventory. This proprietary system applies a price improvement process to an exchange in case a symmetrical exchange occurs, and it updates the system database and offer inventory to reflect the transactions executed by the system. This system allows users to get the best price at runtime through a mechanism. Historical data are used to (i) give stock quotes which are disseminated by a stallion when an active quote is not available for a particular stock, and to (ii) retrieve quotes for analysis higher. We thus obtain the world market of fixed incomes with a system which can meet the needs of industries in the long term and adapt immediately to a changing environment.

PCT/US2001/021806 2000-07-17 2001-07-09 System for trading fixed income financial instruments: u.s. treasury securities, liquid agencies and zero coupon strips WO2002007039A2 (en)

Priority Applications (2)

Application Number Priority Date Filing Date Title
EP01957124A EP1312015A2 (en) 2000-07-17 2001-07-09 System for trading fixed income financial instruments: u.s. treasury securities, liquid agencies and zero coupon strips
AU2001278897A AU2001278897A1 (en) 2000-07-17 2001-07-09 System for trading fixed income financial instruments: u.s. treasury securities,liquid agencies and zero coupon strips

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US09/617,853 US7925566B1 (en) 2000-07-17 2000-07-17 System and method for trading fixed income financial instruments
US09/617,853 2000-07-17

Publications (2)

Publication Number Publication Date
WO2002007039A2 WO2002007039A2 (en) 2002-01-24
WO2002007039A8 true WO2002007039A8 (en) 2002-02-21

Family

ID=24475316

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2001/021806 WO2002007039A2 (en) 2000-07-17 2001-07-09 System for trading fixed income financial instruments: u.s. treasury securities, liquid agencies and zero coupon strips

Country Status (4)

Country Link
US (1) US7925566B1 (en)
EP (1) EP1312015A2 (en)
AU (1) AU2001278897A1 (en)
WO (1) WO2002007039A2 (en)

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Also Published As

Publication number Publication date
AU2001278897A1 (en) 2002-01-30
WO2002007039A2 (en) 2002-01-24
EP1312015A2 (en) 2003-05-21
US7925566B1 (en) 2011-04-12

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