Patent Publication Number: US-2023153911-A1

Title: Method of processing investment data and associated system

Description:
BACKGROUND OF THE INVENTION 
     1. Field of the Invention 
     The present invention relates to an improved method and associated computerized system for providing efficient processing of investment data including transactional data and holdings and more specifically, it relates to such a method and a related system which will facilitate determination of credit assignment for compensation and other purposes and will provide detailed information regarding investment transactions, customers and clients. 
     2. Description of the Prior Art 
     It has long been known to employ computers to receive data, process the same within a computer and store the same for retrieval from a database. 
     In the field of investments, the very high volume of investment transactions and wide range of determinations that need to be made and records provided have led to the recognition that a computerized system for receipt, processing, storing and outputting various types of investment data in various formats would be advantageous. See, for example, U.S. Pat. Nos. 5,749,077 and 5,393,079. 
     One of the problems that exists in connection with the processing of large volumes of investment transactions and holdings is the monitoring of customer activities and assets and accurate computation of the various segments of the investment community interacting on behalf of a given customer directly or indirectly in a given transaction thereby making the computation of the financial credit or compensation due difficult. 
     There remains, therefore, a real arid substantial need for an effective automated system which can accurately and rapidly process large volumes of investment data received from multiple external sources and apply rules to the same so as to permit determination of credit assignment resulting therefrom. 
     SUMMARY OF THE INVENTION 
     The present invention has met the hereinbefore described need. 
     In a preferred method of the present invention, a server which supports a database is structured to receive, process and store investment data. For simplicity of disclosure herein, the term “server” will be employed to refer to and include a database and/or rules engine supported by the server regardless of whether the database or rules engine is physically a portion of the server or is operatively associated therewith through suitable interaction. 
     Rules engines are provided in order to facilitate determination of credit assignment from investment data including rules data. Investment data from a plurality of external services is introduced into the server through a suitable interface with user access preferably through the internet being permitted so as to respond to user queries and to deliver the information to a plurality of users in predetermined report form or any other desired logical form or other form. The user interface also permits a data steward to provide input to revise information which will be provided on the host server. 
     A corresponding computerized system is also provided. 
     It is an object of the present invention to provide a computerized method and associated system for receiving investment data from a plurality of external sources and receiving, processing and storing the same in a desired format. 
     It is another object of the present invention to provide such a method wherein investment data for making an accurate credit assignment resulting from investment transactions or asset valuations can be made rapidly and accurately. 
     It is another object of the present invention which facilitates application of appropriate rules so as to process investment transactions and make accurate credit assignments. 
     It is a further object of the present invention to provide such automated systems which facilitate simultaneous introduction of data from external nonuser sources into the system and simultaneous access to the system by a plurality of users as well as a data steward, while storing the investment data in the server in desired location and format to facilitate ready review and retrieval as well as credit assignments. 
     These and other objects of the invention will be more fully understood from the following description of the invention on reference to the illustrations appended hereto. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         FIG.  1    is a schematic illustration showing a form of system of the present invention structured to facilitate practice of the methods of the present invention. 
         FIG.  2    is an expanded schematic illustration of the system of the present invention which is suitable for use ire practicing the method of the present invention. 
     
    
    
     DESCRIPTION OF THE PREFERRED EMBODIMENTS 
     As employed herein, the term “data object” means an interchangeable software logic component usable with other data objects in a data object interface to perform essentially the same function in different ways. 
     As employed herein, “data interface object” means a functional interface for conversion of external investment data of different formats&gt;into a common format with each data object interface including at least two data objects. The data object interface may be composed of a group of data object interfaces. 
     As employed herein, the term “investments” shall expressly include, but not he limited to, mutual funds, common and preferred shares of stocks, whether listed on an exchange or not, high-yield corporate bonds and high-grade corporate bonds, municipal bonds, United States Treasury bills, notes and bonds, mortgage-related investments and short-term securities such as commercial paper, bankers acceptances, re-purchase agreements and supporting currencies. 
     As employed herein, the term “investment data” means data dealing with investments or organizations or individuals who are involved in investments and shall expressly include, but not be limited to, those occupationally involved as well as their customers and clients and shall expressly include information relating to brokers, dealers, clients, main offices, branch offices, addresses, telephone numbers, identify of individuals as well as titles and responsibilities and similar access and identifying information. 
     As employed herein, the term “credit assignment” means a determination of the individual or entity entitled to credit for a transaction or, entitled to total or partial credit for a transaction or holding involving investments with the determination being made for purposes including but not limited to financial, administrative, personnel, management, compensation, revenue sharing, or statistical purposes and shall expressly include, but not be limited to, assignment of credit for orders, settled trades and investment holdings. 
     As employed herein “rules data” means data sufficient to permit determination of credit assignment based at least in part on investment data. 
     As employed herein “rules engine” means rules receiving software that uses rules data received from external sources to determine credit assignment. 
     It will be appreciated that in making a credit assignment determination so as to make sure that accurate compensation, decisions and payments are made can involve a complex matrix of individuals, organizations and transactional evaluations. For example, one might from a business entity standpoint determine what individual firm, dealer, branch, satellite branch and representative would be entitled to participate in compensation for a transaction. Also, the state, zip code, specific mutual fund, social code, plan or account may enter into the determination, the particular line of business, sales region or territory, product distribution information, external wholesaler and internal wholesaler factors may also need to be considered. 
     The status of the transaction as to whether it is an order or a settled trade or if it relates to asset holdings may also be involved. Internal rules which govern such transactions must also be considered. 
     Referring to  FIG.  1   , a plurality of external sources  2 ,  4 ,  6  of investment data which in the form shown have been given #  1 , #  2  through # N may be a plurality of sources of nonuser financial data provided to the system. A suitable interface  10  which is preferably a data interface object of the type disclosed in U.S. patent application Ser. No. 10/878,763 entitled “A Computerized Method of Processing Investment Data and Associated System”, the disclosure of which is incorporated herein be reference, is preferably employed. 
     The investment data is introduced into database server  1   2  which is programmed to receive, process and store the investment information in desired au mat and location for suitable retrieval. In applying the standards for automated determination of credit assignments, the data which includes rules data is processed according by rules engine which may be in the form of a separate module or incorporated into the server. A data steward  40  and/or plurality of users  30 ,  32 ,  34  which have been identified as #  1 , #  2  through # N may simultaneously access the server  12  through interface  36  and rules  18  to deliver an inquiry and to receive the desired information regarding credit assignment output of the rules engine which may be disposed within the server  12  in a predetermined report form or in another manner. 
     For example, the desired information in addition to or in lieu of a predetermined report form could be provided in html.xml, pdf tiles or in other desired form. A data steward  40  also may interact with the server  12  through interface  36  and rules  18  in order to supply rules data to rules engine and review server content and make revisions thereto. The rules  18  may be resident in the database of server  12  as will the investment data which contains rules data which will be processed by the rules engine employing the rules data received in the investment data 
     An advantage of the present invention is that users may access the system through the internet or other means such as an internal network. subject to whatever desired security access restrictions are imposed. 
     In addition to the users  30 ,  32 ,  34  and steward,  40  accessing the server  12  through user interface  36 , users  30 ,  32 ,  34  and data steward  40 , other computer and external systems  42  may access the server  12  directly. Such access may be effected through the internet by other means such as internal network, for example, the users  30 ,  32 ,  34 , data steward  40  and external system  42  may access the system through user interface  16 , rules  18  or database server  12 . 
     As shown in  FIG.  1   , access by external system  42  may be respectively through paths  44 .  46 , or  47 . 
     Referring now to  FIG.  2   , an expanded schematic view of the method and associated system of the present invention will be considered. In this form for clarity of illustration, the server  12  has been shown as separated from database  48  other than being operatively associated therewith. It will be appreciated that the physical unit may be combined in one housing or be in separate housings which are functionally interconnected. For simplicity of disclosure herein, the server will be regarded as supporting the database and will collectively be referred to as the “server”. 
       FIG.  2    shows the server  12  receiving external investment data  50  through the data interface object  52  which in turn outputs the investment data with or without processing to the database server  48  with the internal database receiving the data from data interface object  52  being identified by the reference number  60 . Also shown in  FIG.  2   , the users  68  access the system through web-based user interface  70  in a bidirectional manner as does the data steward  72 . The output of the user interface  70  is received in business logic and rules module  74  for making sure that the data has the form and content desired with the business logic and rules module  74  outputting the investment data to the database  48  for receipt in database module  60 . 
     Also shown within the database  48  wherein the received investment data coming from the external nonuser sources  50 , and the user  68  and data steward  72 , communications are provided to and from database  60 . Shown as being stored for retrieval within the database  60  are customer account information  80 , customer investment holding information  82  and customer asset position information  84 . Also shown as stored in the desired format and location for ready retrieval are credit assignment information  90 , credit assignment rules information  92  and client information. Examples of the client information are the client organizational structure information  100 , the external business entity structure information  102 , client trading information  104 , address, telephone and location information  106 , settled trade information  108  and pending order information  110 . Also shown are processing exception information  112  which may, for example, consist of new or updated external business entities, client trading information, investment product information added or updated in the database schema  60  by the data interface objects  52  and investment product information  114 . 
     It will be appreciated that the present method and associated apparatus provide efficient, computerized processing of nonuser externally delivered investment data which is received, processed and stored in an organized manner in a server with a plurality of external users being able through the internet to obtain access to the information and a data steward being able to review and revise the same. All of this facilitates employing the desired transaction and asset holding information with the complex credit assignment arrangements to permit rapid accurate determination and reporting of credit due. 
     Whereas particular embodiments of the invention have been described herein for purposes of illustration, it will be evident to those skilled in the art that numerous variations of the details may be made without departing from the invention as set forth in the appended claims.