Lender anonymity securities lending using lender trade criteria

US8050999B2 · kind B2 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Keith Peckholdt · West Islip, US
• Thomas Veneziano · Staten Island, US
• Steven Winter · Arlington, US

Key dates

• Filing date: Jul 25, 2007
• Grant date: Nov 1, 2011
• Expiry date: Aug 7, 2028

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Lender anonymity securities lending where trade criteria associated with a security owned by a client are determined. Bids for the security are monitored by a first entity. A trade related to the security is executed by accepting a best bid from the monitored bids based on the trade criteria. An identical trade related to the security is automatically executed with a second entity. A second identical trade as the trade related to the security is automatically executed with inter-dealer brokers without any knowledge of the first entity. The first entity may be a banking division of a financial institution and the second entity may be a broker/dealer division of a financial institution. Complete anonymity is provided to the client from the inter-dealer brokers since the trade executed automatically with the second entity is put into a separate trading book maintaining a firewall between the client and the inter-dealer brokers.