Data processing system for pricing, costing and billing of financial transactions
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United States of America Patent
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May 22, 2012
Grant Date -
Oct 7, 2010
app pub date -
Jun 16, 2010
filing date -
Aug 1, 1997
priority date (Note) -
Expired
status (Latency Note)
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Abstract
The present invention provides methods and systems for pricing financial transactions by defining product rules, providing links to appropriate price tables, and calculating a price for a financial transaction. A data processing system in accordance with one embodiment of the present invention, creates a product rule corresponding to a financial transaction. The product rule contains mandatory attributes and optional attributes. Optional attributes may be looked up using identifiers constructed from said mandatory attributes. Optional attributes include a link to a price table which contains further attributes, including a pricing method. A price is then calculated in accordance with the pricing method. Billing is completed according to the billing method for the particular financial transaction.
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