Method and a system for settlement of trading accounts

US7515697B2 · kind B2 · utility

Assignee

• Arbinet-thexchange, Inc. · US

Inventors

• Chi Eng · Wayne, US
• Michael Lemberg · New York, US
• Alexander Mashinsky · New York, US
• Guillermo Bodnar · Chantilly, US
• David Sumka · Bedminster, US

Key dates

• Filing date: Apr 1, 2004
• Grant date: Apr 7, 2009
• Expiry date: Jan 14, 2027

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method of settling accounts of buyers and sellers of telecommunication 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 offers 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 computed fees.