Patent ID: 7680730

Claim:
A computer-implemented method of processing a foreign exchange (FX) transaction, comprising: receiving an FX transaction request, wherein the FX transaction request is received at a non-FX transaction-equipped downstream financial entity; employing a domestic funds transfer system to generate an FX request message, wherein the FX request message is formatted in a standard domestic format consistent with the domestic funds transfer system and wherein the domestic funds transfer system is located at the non-FX transaction-equipped downstream financial entity; transmitting the FX request message to an FX transaction-equipped partner financial entity; and receiving a rate file at the non-FX transaction equipped downstream financial entity from the FX transaction-equipped partner financial entity based upon the FX request message, wherein the rate file comprises rate information in response to the FX transaction request; and establishing, via a processor, a ‘dummy’ transaction at the FX transaction-equipped partner financial entity that reflects information included in the FX request message, wherein the ‘dummy’ transaction is pending based upon a determination from the non-FX transaction-equipped downstream financial entity that information in the rate file is accepted; receiving acknowledgement or acceptance of the rate file from the downstream financial entity; converting the ‘dummy’ transaction to a ‘real’ transaction; and injecting the ‘real’ transaction into a partner-managed FX portfolio.