System and method for facilitating securites borrowing transactions
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United States of America Patent
Stats
-
N/A
Issued Date -
Jun 26, 2003
app pub date -
Dec 20, 2001
filing date -
Dec 20, 2001
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
The present invention discloses a system and method for facilitating securities borrowing transactions. A securities borrow request is securely transmitted over a network from a first computer to a server computer. The server computer evaluates the request based upon stored criteria data, including availability data associated with the requested securities, to attempt to generate an approval determination. The status of the approval determination is transmitted to the first computer. If no approval determination can be generated based upon the evaluation, the server computer transmits the request to a second computer, where a manual approval determination is made, entered into the second computer, and transmitted to the first computer. The availability data is updated to reflect any decrease in securities availability resulting from any approved borrow request.
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