Patent ID: 6807635
Filing Date: 2004-10-19
Classification: G06Q

Abstract:
A method for using digital signatures in performing validations to facilitate a trade, comprising:receiving a quote related to the trade at a first computer system; wherein the quote includes permission information that facilitates determining permissions that have been granted to a quote maker who is making the quote; validating that the quote maker digitally signed the quote by using a public key of the quote maker to verify that the quote was signed by a corresponding private key belonging to the quote maker; validating that the quote maker has permission to perform the trade by using a public key of a first security officer to verify that the permission information was signed by a corresponding private key belonging to the first security officer, thereby authorizing the quote maker to perform the trade; if the quote is to be accepted, accepting the quote by, signing the quote with a private key belonging to a quote receiver, and communicating a trade record including the signed quote to the quote maker; wherein the quote maker and the first security officer are separate entities; whereby requiring signatures from both the quote maker and the first security officer prevents perpetration of fraud by a single entity.