Invention Grant
- Patent Title: Deploying and implementing centralized trading and tracking computing platforms to support tri-party trading
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Application No.: US16573085Application Date: 2019-09-17
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Publication No.: US10692146B2Publication Date: 2020-06-23
- Inventor: Valerie J. Redmond
- Applicant: Bank of America Corporation
- Applicant Address: US NC Charlotte
- Assignee: Bank of America Corporation
- Current Assignee: Bank of America Corporation
- Current Assignee Address: US NC Charlotte
- Agency: Banner & Witcoff, Ltd.
- Agent Michael A. Springs
- Main IPC: G06Q40/00
- IPC: G06Q40/00 ; G06Q40/04 ; G06Q10/10

Abstract:
Methods, systems, and computer-readable media for deploying and implementing centralized trading and tracking computing platforms to support tri-party trading are presented. In some embodiments, a central trading computing platform may receive, from a retirement group accounts administration computer system associated with a financial institution, trade information defining one or more trades in one or more mutual funds for one or more accounts administrated by the financial institution. Subsequently, the central trading computing platform may validate the trade information and create order information based on the trade information. Then, the central trading computing platform may send the order information to a clearing entity computer system. The order information may be configured to cause the clearing entity computer system to settle the one or more trades in the one or more mutual funds for the one or more accounts administrated by the financial institution with a custodian different from the financial institution.
Public/Granted literature
Information query