Method and a system for settlement of trading accounts
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United States of America Patent
Stats
-
May 4, 2004
Issued Date -
N/A
app pub date -
Nov 29, 2001
filing date -
Aug 29, 1997
priority date (Note) -
Expired
status (Latency Note)
Importance
Abstract
A method settling accounts of buyers and sellers of telecommunications services by an online exchange system includes storing data representing a financial account of at least one seller and at least one buyer, wherein the financial account includes at least one of accounts receivable and cash receipts. A service node receives an offer to sell the services from the at least one seller and requests to buy the services from the at least one buyer. The service node then matches the offer and requests in accordance with one or more parameters specified in the offers and requests. A route table is generated based on the routes specified in the matched offers and requests and a switch node is configured based on the route table. Fees are computed based on the usage of the matched routes and the financial accounts of the at least one seller and at least one buyer based on the computer fees.
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