Patent ID: 8099347

Claim:
A method for processing financial instruments on a system of digital computers and related storage devices, networks and peripherals, said method comprising (a) providing a plurality of financial event templates recorded in at least one storage device read by at least one said computer, each financial event template comprising at least one financial event component, and defining, for each variable within said at least one financial event component that points to another financial event component, a processor-independent interface to said other financial event component, and further providing a processing interface as part of each said financial event component; (b) for at least one such financial instrument, constructing a representation of said instrument comprising at least a static representation of said instrument, by steps comprising (i) providing a set of parameters for said instrument, said parameters comprising state information for said instrument; (ii) constructing an instrument specification for said instrument by performing on said at least one computer steps comprising selecting financial event components from said plurality of financial event templates and incorporating said financial event components into said static representation; (c) providing at least one processing object recorded in at least one storage device read by at least one said computer, said processing object (A) comprising procedures adapted to access said representation of said instrument through said processor interfaces, and (B) specified independently from said static representation; and (d) executing said procedures of said processing object upon said financial event components through said processing interfaces.