Patent ID: 8473401

Claim:
A system to facilitate settlement of payments relating to transactions involving financial instruments among multiple participants, comprising: an interface configured to: receive at least one derivative instruction associated with a derivative transaction; and receive from participants a first instruction associated with a financial instrument of a first form and a second instruction associated with the financial instrument of the first form, the financial instrument of the first form comprising a non-derivative instrument; a first processor configured to: establish an association between the first and second instructions associated with the financial instrument of the first form; and apply a set of pre-settlement rules to the first and second instructions associated with the financial instrument of the first form; and a second processor, different from the first processor, the second processor configured to: receive the at least one derivative instruction associated with a derivative transaction from the interface; accept the at least one derivative instruction; and submit the at least one accepted derivative instruction to the first processor; wherein the first processor is further configured to: validate the at least one derivative instruction received from the second processor; for each validated derivative instruction: generate a first additional instruction based on the validated derivative instruction, the first additional instruction specifying (i) an amount of a specified currency to be settled, and (ii) zero units of a fictitious currency to be settled; generate a second additional instruction based on the validated derivative instruction, the second additional instruction specifying (i) an amount of a specified currency to be settled, and (ii) zero units of a fictitious currency to be settled; establish an association between the first and second additional instructions; designate the associated first and second additional instructions as settlement eligible; and submit the associated first and second additional instructions for settlement.