Patent ID: 8630943

Claim:
A cash sweep brokerage system, comprising: an asset management account platform to manage a cash sweep account on behalf of a client of a broker-dealer, the asset management account platform communicatively coupled to a broker-dealer brokerage processing system and multiple investment vehicle providers, the asset management account platform operative to enable multiple brokerage investment accounts to act as vehicles for a cash sweep account and to interact with the broker-dealer brokerage processing system and the multiple investment vehicle providers to process brokerage transactions between the client, the broker-dealer, and one or more of the multiple investment vehicle providers, the asset management account platform comprising: an integrated banking transaction services processor operative to provide banking transaction services, wherein the integrated banking transaction services processor provides banking transaction services independent of the broker-dealer relationships with the multiple investment vehicle providers, wherein the integrated banking transaction services processor is configured to manage the cash sweep brokerage account; and a sub-accounting engine communicatively coupled to the integrated banking transaction services processor operative to provide comprehensive recordkeeping and to provide multiple investment vehicle options to the client from the multiple investment vehicle providers independent of the banking transaction services provided to the client by the banking transaction services processor in order to minimize expenses to the broker-dealer by allowing the client to swap out investment vehicles between the multiple investment vehicle providers without requiring a corresponding change in the banking transaction services; the integrated banking services transactions processor operative to receive an instrument from the client, initiate a brokerage transaction between the broker-dealer and the investment vehicle provider, transmit a notification message to the broker-dealer that the instrument was presented, receive a confirmation message as to whether to honor the instrument, and transmit information associated with the brokerage transaction to the sub-accounting engine.