Patent ID: 8732049

Claim:
A computer system for processing financial instruments, the system comprising: at least one storage device storing a plurality of financial event templates, 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; at least one processing object comprising procedures adapted to access a representation of said financial instrument through said processor interfaces and specified independently from a static representation of the financial instrument; and at least one computer processor programmed for accessing the storage device and constructing a representation of said instruments including at least the static representation, the programmed computer processor executing instructions for performing steps including, providing a set of parameters for said instrument, said parameters comprising state information for said instrument; constructing an instrument specification for said instrument by selecting financial event components from said plurality of financial event templates and incorporating said financial event components into said static representation; and executing said procedures of said at least one processing object upon said financial event components through said processing interfaces.