Patent ID: 6236972
Filing Date: 2001-05-22
Classification: G06Q

Abstract:
A computer based method for facilitating a secondary market transaction of shares of investment companies between at least one buyer, an intermediate, and a seller, comprising:receiving at the intermediate a sell order to sell in the secondary market shares of an investment company from the seller, binding the seller to said intermediate, said intermediate having a central controller including database storage;assigning a sell tracking identification, corresponding to said sell order and said seller;storing said sell order and sell tracking identification in said database;receiving a buy order from the buyer,assigning a buy tracking identification company to said buy order and said buyer;storing said buy order and buy tracking identification to said database;scanning the database for matching sell and buy orders;binding the buyer to the intermediate;executing trade upon a match;forwarding trade confirmation to a transfer agent; andforwarding confirmations of transaction to the buyer and the seller.