System and method for reconciling financial records by matching outstanding trade orders to unmatched transactions

A system and method for financial account reconciliation of a portfolio account system includes, for investments that are not reported as trades once an order to purchase has been placed, using a computer to electrically match investments that are not reported as trades to unmatched transactions of...

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Main Authors PATHAK HEEREN H, SATHAYE YASHODHAN, GOLDMAN JAY, SHECKLER DENNIS, SOULIOTIS SCOTT, ROGERS ANNMARIE, ARTZ JOHN, KIS LADISLAV
Format Patent
LanguageEnglish
Published 27.08.2013
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:A system and method for financial account reconciliation of a portfolio account system includes, for investments that are not reported as trades once an order to purchase has been placed, using a computer to electrically match investments that are not reported as trades to unmatched transactions of the portfolio account system. In this manner investments that are not reported as trades once an order to purchase has been placed do not create breaks of the portfolio account system.
Bibliography:Application Number: US201213457676