Patent ID: 7194481
Filing Date: 2007-03-20
Classification: G06Q,Y10S

Abstract:
1. A computer based system which enables a party and counterparty to be efficiently matched, comprising: a first computer terminal into which the party inputs details of a potential first financial transaction to buy an amount of a first currency using a second currency, a second computer terminal into which the counterparty inputs details of a potential second financial transaction to sell an amount of that first currency and to receive the second currency or another currency, a computer network connecting the first and second terminals; characterized in there being: (a) a computer program that allocates to each currency a unique identifier such that each possible combination of currencies to be bought and sold by parties and counterparties is uniquely identifiable by a total combination identifier that is a single binary number derived from a unique binary identifier assigned to each currency and wherein a total of combinations T(n, x) is the number of total combination identifiers and is calculated by the formula: where n is a positive integer that represents the number of currencies corresponding to a current currency trade, x is a positive integer such that x≧2 and x≦n, and wherein C(n, x) represents one of the total combinations given n and x, the system supports up to 20 currencies environment with a maximum of 6 participants to a transaction; and (b) a computer program arranged to determine, prior to the first and second transactions occurring, a net payment position if either the first and second transactions were to occur only in part and to complete each transaction on the basis of the net payment position.