Patent ID: 6173270
Filing Date: 2001-01-09
Classification: G06Q

Abstract:
A system for the management of a plurality of distinct accounts each corresponding to a set of privately issued option contract rights granted to a group of individuals in accordance with pre-established plan criteria, comprising:addressable data storage means for storing in relation to said accounts (i) options holding information including demographic and employment-related information on each participant and information on the options granted, vested, and exercised by each participant, and (ii) an axiomatic rule system at least in part defining said plan criteria for the exercise of said options;communication means for entry of option transaction requests and confirmation of stored information;processing means for accessing said storage means, receiving said transaction requests, and validating whether and how to process the options exercise requests;brokerage means for accessing market price data on the security underlying said option and implementing said option transaction in accordance with said option holdings information and said axiomatic rule system when said transaction request is validated; andfurther comprising at least one processor system selected from the following: for(a) converting and disbursing currency received from implementing said option transaction into a different currency,(b) operating said brokerage means in real time, and/or(c) providing a participant and/or broker accessible simulation of one or more options transactions and the expected results from the transactions prior to the actual implementation of the option transaction requested.