System and method for use in auditing financial transactions
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United States of America Patent
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Jan 24, 2012
Grant Date -
N/A
app pub date -
Mar 27, 2006
filing date -
Mar 27, 2006
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A data processing system that records detailed market information for one or more financial markets to facilitate the audit of executed trades for time, quantity, and price as being reasonable. The system receives and records data from financial markets, including the date and time trades are executed and the prices at which the financial instruments traded. The system provides users the ability to compare a particular transaction for a financial instrument to transaction data for the same and/or related financial instruments at around the same time, to determine whether the price paid for the financial instrument is reasonable for the time the trade was executed. A trade confirmation service is also provided to permit traders to verify the parameters of executed transactions.
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