Patent ID: 8615461
Filing Date: 2013-12-24
Classification: G06Q

Abstract:
1. A computer implemented method for processing traditional open-end mutual fund order messages including purchase and redemption orders of shares of an open-end mutual fund, the open-end mutual fund being continuously listed or hosted by a securities Exchange for processing the purchase and redemption orders, and the open-end mutual fund having a total number of currently issued shares which is variable as a function of periodic adjustments for newly purchased shares and redeemed shares, the method comprising the steps of: receiving, at one or more first servers associated with the securities Exchange, order messages associated with purchase and/or redemption orders for shares of the open-end mutual fund, the mutual fund being continuously listed or hosted at the Exchange, the order messages being sent from one or more Member Firms of the securities Exchange, and the securities Exchange being a financial market that includes listed securities with a finite number of shares and lists the open-end mutual fund having a total number of currently issued shares which is variable as a function of periodic adjustments for newly purchased shares and redeemed shares; processing at the one or more first servers, per Member Firm, the received purchase and redemption order messages for the open-end mutual fund shares as individual orders or as an aggregation of multiple orders, wherein said processing includes storing the received order messages in a first format, applying predetermined business rules to underlying orders associated with the order messages, and formatting the order messages to a second format; and transmitting the processed orders from the one or more first servers 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, wherein the total number of currently issued shares of the open-end mutual fund is variable as a function of the periodic adjustments for the newly purchased shares and redeemed shares upon clearance and settlement of the processed orders.