Patent ID: 7636682
Filing Date: 2009-12-22
Classification: G06Q

Abstract:
1. A computer implemented method for processing open-end mutual fund order messages at a designated centralized securities Exchange, including purchase and redemption transactions of shares of an open-end mutual fund, the method comprising the steps of: receiving order messages associated with purchase or redemption of open-end mutual fund shares in Exchange Equity Order Entry Format at at least one of a plurality of first servers at the designated centralized Exchange, said open-end mutual fund being listed on the Securities Exchange as an Exchange listed open-end mutual fund (ELF), and having a total number of currently issued shares which is variable as a function of periodic adjustments for newly purchased shares and redeemed shares; aggregating the purchase and redemption orders of the open-end mutual fund by Member Firm; reformatting the order messages to Fund Order Entry Format at the at least one first server; and transmitting the reformatted order messages from the at least one first server to at least one of a plurality of second servers at Fund/Securities Clearing Agents for confirmation, clearing and settlement including issuance and redemption of the open-end mutual fund shares by the open-end mutual fund.