Restricted securities processing

Details Restricted securities processing Restricted securities processing

2008-05-20

2008-05-20

Patel, Jagdish N (Department: 3693)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S035000

Reexamination Certificate

active

07376615

ABSTRACT:
A method and system is provided to automate many of the steps involved in processing restricted securities. Data can be received relating to restrictions associated with the trade of a security. Typically the data includes notification by a seller of their desire to transact a trade involving a restricted security as well as answers to a checklist of questions related to the restricted trade. In addition, the system can receive an electronic verification that the data is correct. The system can respond by automatically generating documentation supportive of the trade and receiving an electronic signature to execute the generated documents. Trade information can also be automatically forwarded to a clearing house. In addition, an instruction can be transmitted to a transfer agent to convert physical restricted securities into an electronic format. Notification that the securities have been converted can subsequently be received.

REFERENCES:
patent: 6269346 (2001-07-01), Cristofich et al.
patent: 2002/0007335 (2002-01-01), Millard et al.
patent: 2002/0042771 (2002-04-01), Shields et al.
patent: 2002/0059107 (2002-05-01), Reich et al.
Michaels, Jenna; Compliance Under Control; Wall Street and Technology; May 1997, vol. 9, Issue 9; p. 17.
Study outlines need to automate market, USA Today, Dec. 15, 1991.

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