Derivative currency-exchange transactions
US7783539B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Nov 18, 2005 |
| Grant date | Aug 24, 2010 |
| Priority date | — |
| Expiry date | Apr 25, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods are provided for executing a money transfer from a first party to a second party. Customer instructions are received at a host system to stage the money transfer. The instructions include specification of an amount of money to be transferred, specification of a first currency in which the funds are to be provided by the first party, specification of a second currency different from the first currency in which the funds are to be received by the second party, and specification of a trigger currency exchange rate. Confirmation is received that the funds have been collected from the first party. A currency exchange rate between the first currency and the second currency is monitored. It is determined whether the monitored currency exchange rate is at least as favorable for the first party as the trigger currency exchange rate.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.