Importance

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Abstract

Management of financial transactions involves defining the process as a series information transfers needed by parties to settle the transaction. A system measure the performance of participants in the management process, tracks information transferred between the parties and records a time the information is transferred. Information including time information is used to determine measures of performance. These measures of performance can include the amount of time between completion of any steps in the management process, e.g., from the time when transaction was initiated (e.g. a trade is executed) to the time the information to be transmitted to or received by any of the participants to the management process or the management system in any of the steps of the management process. The performance information can be compiled into predefined reports which allow a party to compare the performance of counterparties with which the party had completed transactions.

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First Claim