Ulllted States Patent [19]
`Fuhrer
`
`[54] SYSTEM FOR ENHANCED FINANCIAL
`TRADING SUPPORT
`
`[75] Inventor: Evelyn Fuhrer, Brooklyn, N_Y_
`
`[73] Assignee: Merrill Lynch & Co., Inc., New York,
`NY
`
`[21] Appl. No.: 08/993,382
`[22]
`Filed:
`Dec. 18, 1997
`
`Related US. Application Data
`
`[63] Continuation of application No. 08/306,382, Sep. 15, 1997,
`abandoned
`[51] Int. c1.7 ........................... .. G06F 15/30- G06F 17/60
`[52] Us Cl
`765/35 705/37
`I.
`.
`. ............................................... ..
`~,
`'
`[58] Fleld of
`’
`11131’
`’
`
`’
`
`'
`
`[56]
`
`'
`’
`’
`References Cited
`
`U.S. PATENT DOCUMENTS
`364 900
`4403 303 9 1983 H
`1
`4’872’ 10 6 102989 513:5 et a ' """"""""""""" " 364200
`512971032
`3/1994 Trojan etal.
`364/408
`5,504,861
`4/1996 Crockett et a1. .
`.. 395/182.11
`
`US006105005A
`[11] Patent Number:
`[45] Date 0f Patent:
`
`6,105,005
`Aug. 15, 2000
`
`5,544,347
`5,596,706
`
`8/1996 Yanai et al. ........................... .. 395/489
`1/1997 ShimaZaki et al. .
`395/182.04
`
`5,627,886
`
`5/1997 Bowman . . . . . . . . . . . .
`
`. . . .. 379/111
`
`5,802,499
`5,982,900
`
`395/235
`9/1998 Sampson et al.
`4/1999 Ginter et al. .......................... .. 395/186
`
`Primary Examiner—Tod R. SWann
`Assistant Examiner—Pedro R. Kanof
`Attorney, Agent, or Firm—Hopgood, Calimafde, Kalil &
`J d1
`u Owe
`[57]
`
`ABSTRACT
`
`A multi-purpose data processing system that is capable of
`going on-line to provide an operative link With established
`?nancial markets in support of subscriber trading. The
`System has ‘W0 modes ofoperation- A?rst mode is directed
`to support for ?nancial transactions or services that are
`necessary, but not Critical‘ The Second mode addresses a 10st
`trading link from a primary trading system pursuant to a
`catastrophic event, and provides a remote trading platform
`to a plurality of pre-select traders. The second mode is
`accessible via disaster declaration, and the system permits
`custom terminal con?guration in accordance With desig
`nated traders. Operation alloWs quick assess to markets
`When the primary market link outlet is doWn.
`
`16 Claims, 7 Drawing Sheets
`
`10% WS
`
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`ETHERNET
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`ATS BRIDGE
`
`Page 1
`
`Amazon Ex. 1019
`Amazon v. PMC
`IPR2014-01530
`
`

`
`U.S. Patent
`
`Aug. 15,2000
`
`Sheet 1 of7
`
`6,105,005
`
`FIG. 1
`
`10% W5
`
`10¢
`
`W5
`
`W5
`
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`3270
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`RING
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`60
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`70
`
`Page 2
`
`

`
`U.S. Patent
`
`Aug. 15,2000
`
`Sheet 2 0f7
`
`6,105,005
`
`FIG. 2
`
`MONITOR ¢~1OO
`
`CPU
`
`I
`
`MEMORY ;
`
`1/0
`
`COM SYS
`
`110
`
`120
`
`130
`
`140
`
`150
`
`DDS
`
`Page 3
`
`

`
`U.S. Patent
`
`Aug. 15,2000
`
`Sheet 3 of7
`
`6,105,005
`
`FIG. 3
`
`ATS DISASTER DECLARATION
`
`200
`I START )
`
`210
`
`'
`CHANGE TRADER
`PROFILE DATABASE
`SETUP T0 DISASTER
`
`220
`
`ENTER
`SecretCode SEQUENCE
`AND CONFIRM
`
`250
`
`EXECUTE AIS
`CONTEXT SWITCH
`
`IT
`
`260
`
`REQUEST ALL USERS
`T0 LOGOFF
`
`PRESENT LOGIN
`SCREEN
`
`280
`
`L00 USER OFF
`
`Page 4
`
`

`
`U.S. Patent
`
`Aug. 15,2000
`
`Sheet 4 0f 7
`
`6,105,005
`
`FIG. 4
`
`DYNAMIC WORKSTATION CONFIGURATION VIA LOGIN (SIGNON)
`
`BOO
`
`31D
`
`USER
`AUTHORIZED
`IN TRADER
`PROFILE
`DATABASE
`'2
`
`34D
`
`ENTER LOGIN IN
`TRADER PROFILE
`DATABASE USERLOG
`
`PROFILE DATABASE
`
`360
`
`I
`
`DISPLAY DESK TOPS
`FIRST TO LAST
`
`370
`
`"
`
`GIVE FOCUS TO
`FIRST DESK TOP
`
`Page 5
`
`

`
`U.S. Patent
`
`Aug. 15,2000
`
`Sheet 5 of7
`
`6,105,005
`
`FIG. 5
`DATABASE QUERY AND MAINTENANCE USING INSIGHT
`
`400
`
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`EVENT
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`NO
`
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`
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`
`480
`\
`
`EXIT FROM INSIGHT
`
`460
`
`COMPILE
`SELECTION
`AND EXECUTE
`REQUESTS
`
`:
`
`Page 6
`
`

`
`U.S. Patent
`
`Aug. 15,2000
`
`Sheet 6 of7
`
`6,105,005
`
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`Page 7
`
`

`
`U.S. Patent
`
`Aug. 15, 2000
`
`Sheet 7 of 7
`
`6,105,005
`
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`Page 8
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`Page 8
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`

`
`1
`SYSTEM FOR ENHANCED FINANCIAL
`TRADING SUPPORT
`
`This application is a continuation of application Ser. No.
`306,382, ?led Sep. 15, 1997, noW abandoned.
`The present invention generally relates to a system for
`supporting rapid and ?exible trading on ?nancial markets. In
`particular, the present invention relates to a data processing
`system for providing a seamless trading capability on-line
`after a catastrophic interruption of normal trading services.
`
`BACKGROUND OF THE INVENTION
`Current ?nancial markets are characteriZed by enormous
`computer systems centrally operated in select ?nancial cen
`ters. These elaborate data processing systems govern market
`transactions for the exchange of large sums of capital via
`interactive participation of many buyers and sellers and thus
`form discrete trading markets or “exchanges”. Speci?cally,
`traders are in continuous communication via the computer
`netWorks With other traders, forming transactions at select
`price and volume for particular securities. Access to these
`markets are via established trading applications such as TSS,
`NASD, and other custom design applications. Operation of
`a representative trading application is described in detail in
`US. Pat. No. 4,674,044 to Kalmus, et al., the contents of
`Which are incorporated by reference as if restated in full.
`To support their efforts on behalf of their clients, the
`traders have access to a plethora of information services,
`e.g., Reuters, Telerate, Quotron and Bridge, Which provide
`a cross section of important data to the trader (often in real
`time) to permit more successful and knoWledgeable trading.
`To participate in this activity, the traders are often
`equipped With poWerful multipurpose Work stations inter
`connected to that selection of information services and
`market participants important to that trader. For example,
`US. Pat. No. 5,297,032 to Trojan, et al. provides a speci?c
`form of Work station environment for participation in a
`select market; the teachings of this patent are incorporated
`by reference as if restated in full. The traders’ overall
`performance is signi?cantly enhanced by their ability to
`keep abreast of market de?ning events, via on-line data
`acquisition.
`The importance of trading in a timely manner simply
`cannot be overstated. The rapid movement from one security
`to another based on the changing ?nancial environment is
`critical to the overall pro?tability of the transactions and the
`ultimate success of the trader. Interruptions to the markets of
`interest simply cannot be tolerated for long, and therefore,
`must be avoided. HoWever, the centraliZed level of activity
`by major brokerage houses to effect the trading patterns on
`behalf of their clients has created a separate and only
`recently recogniZed danger of interruption.
`This risk Was brought into prime focus by the 1993
`bombing of the World Trade Building complex in loWer
`Manhattan—the “tWin toWers” located Within blocks of Wall
`Street and the NeW York Stock Exchange (NYSE) trading
`?oor. This event brought the major market traders “off-line”
`for a signi?cant length of time and represented a far greater
`level of service interruption to market activity on the NYSE
`and other markets than ever previously imagined. Even so,
`participants recogniZed that it could have been far Worse in
`extent interference With capital market activity. The reper
`cussions of being off-line for a major brokerage house are
`enormous, especially if World events are fast moving and
`create signi?cant sWings in asset value.
`Indeed, although the bombing of the World Trade Build
`ing Was a high pro?le event, it Was not unique. Such events
`
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`2
`have occurred over the course of the last feW years and
`include the ?ooding of the Chicago river—shutting doWn
`the Future Exchange in Chicago for a protracted period.
`Other interruptions in service Were precipitated by trading
`?oor ?res in NeW York, Hurricane AndreW, a ?ood in NeW
`York associated With a Water main break, and certain man
`made interruptions (e.g., Audits). During the course of these
`interruptions, persons utiliZing certain brokerage services
`Were precluded from assessing market conditions and trad
`ing in response to these conditions.
`The problem and vulnerability of the current trading
`systems reside, to some degree, in their centraliZed location
`coupled With the inability to reroute traders from the net
`Work of dedicated computer terminals for on-line trading. A
`catastrophic event can therefore take capital transactions
`off-line in a key market, causing short term losses and long
`term negative perceptions of the market performance. The
`present invention has been developed to address this prob
`lem.
`
`SUMMARY AND OBJECTS OF THE PRESENT
`INVENTION
`It is an object of the present invention to provide a data
`processing system for managing ?nancial trading activities
`in a comprehensive fashion in response to a system inter
`ruption.
`It is another object of the present invention to provide an
`apparatus capable of going on-line to trade in ?nancial
`markets in response to a interruption in current system
`operations, Wherein said apparatus is a programmed con
`trolled digital computer interconnected With a communica
`tion system permitting direct trading access to one or more
`?nancial markets.
`It is still another object of the present invention to provide
`a method of data processing that enables continuous trading
`of securities on established markets on behalf of clients in
`response to a market interrupting event.
`It is yet another object of the present invention to provide
`a data processing system capable of operating in tWo modes.
`The ?rst mode involves a day-to-day support activity for a
`particular aspect of the ?nancial services business, such as
`dividend maintenance, and a second mode relating to active
`real time trading of securities.
`The above and other objects of the present invention are
`realiZed in a digital computer system netWorked With mul
`tiple nodes of Work stations and interconnected to one or
`more markets for electronic trading of securities. The data
`processing system includes separately programmed Work
`stations each linked to the markets and services necessary to
`effect trading of securities on behalf of the clients. In
`addition, each Work station includes a second mode of
`operation, directed to some day-to-day activity that is rela
`tively less critical to overall operations in comparison to
`security trading. These Work stations are located at a remote
`site from the trading ?oor and the primary trading Work
`stations. The remotely located Work stations are fully
`capable of ?nancial trading transactions, but include security
`buffers to preclude unauthoriZed access.
`In accordance With the varying aspects of the present
`invention, the Work stations and the system coordinator
`provide custom access codes for each Work station so that a
`pre-selected codeWord is employed to con?gure the Work
`station to a particular trader. In this Way, the trader logs onto
`the system With the access codeWord and the interconnects
`speci?c to that trader are loaded into the Work station to
`permit select access to the markets and services required by
`that trader.
`
`Page 9
`
`

`
`3
`The foregoing features of the present invention may be
`more fully understood by reference to the following detailed
`description of a speci?c illustrative embodiment thereof,
`presented hereinbeloW in conjunction With the accompany
`ing draWings, in Which:
`
`BRIEF DESCRIPTION OF THE DRAWINGS
`
`FIG. 1 is a system diagram of the data processing Work
`stations used in permitting active on-line trading in accor
`dance With the present invention;
`FIG. 2 is a diagram of the operative elements associated
`With a single Work station used in the present invention;
`FIG. 3 is a logic ?oW chart presented in block form to
`depict the logic ?oW for disaster declaration in the inventive
`system during operation;
`FIG. 4 is a logic ?oW chart presented in block diagram
`form to depict dynamic con?guration of each Work station;
`FIG. 5 is a logic ?oW chart presented in block diagram
`form to depict database query and maintenance; and
`FIG. 6 is a logic ?oW chart presented in block diagram
`form to depict the virtual WindoW manager as applied in the
`present inventive system.
`
`DETAILED DESCRIPTION OF THE
`PREFERRED EMBODIMENTS
`First brie?y in overvieW, the present invention is directed
`to emulating a trading ?oor capability at a remote location
`employing hardWare that is overWise in use—but for a
`service that can be periodically interrupted. The system
`includes hardWare con?guration and tools implemented With
`a plurality of select stored programs controlling the com
`puter system in accordance With system directives. In
`particular, the system is designed to be recon?gured from its
`less critical functions to operate as an array of trading Work
`stations, each of Which is con?gured to a particular trader
`and thereby connected to that trader’s select information
`services, trading partners and exchanges. The fundamental
`objective is to recreate a trading ?oor environment that
`emulates actual trading performance for the administrator,
`so that the traders can insure liquidity and protect clients’
`and ?rm assets on the markets after conventional (primary)
`trading has been interrupted. Secondary objectives include
`the utiliZation of the Work stations during periods of off-line
`operation in a productive manner thus diluting the capital
`commitment to the exigent circumstances. Moreover, a
`coordinated security system is interposed to preclude unau
`thoriZed access to the Work station trading capabilities
`during doWn times, thus preventing improper or illegal
`trading.
`With the foregoing overvieW in mind, attention is directed
`to FIG. 1 Which depicts an overall system diagram in
`functional block form. In particular, a plurality of Work
`stations are arranged in a location remote from the primary
`trading ?oor for the system proprietor, preferably in one or
`more clusters 15 With individual stations 10. These Work
`stations are stand alone computers interconnected to a
`netWork 20 via conventional netWork infrastructure, but
`individually programmed in accordance With overall system
`dictates. These Work stations each are equipped With
`monitor, advanced CPU and at least 32 Mbytes of internal
`memory. It has been found that SPARC Stations sold by Sun
`Computer are suitable for these purposes and are con?gured
`With one or more operating systems including UNIX With
`variations of XWINDOWS support.
`The UNIX based Workstation is designed to provide
`access to multiple applications resident on a diverse set of
`
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`4
`hardWare platform as may be required by the user. This
`requires that the applications operate concurrently Without
`con?ict—and thus must be compatible. The plural Worksta
`tions are netWorked via Ethernet to address three servers.
`Referring to FIG. 1, these servers include the Trader Pro?le
`(Sybase database) server 40, the 3270 GateWay to the
`mainframe 30 and the Market Data (real time) server 50.
`Continuing, mainframe application access is via Token Ring
`Backbone 60 to the Bridge 70 and various off-site main
`frame netWorks and Sybase access is routed through a
`Ethernet Backbone 80 to one or more subnetWorks. Access
`is controlled via one or more user identi?cation numbers
`USERID(I), Wherein (I) is the indexed value for the user ?le,
`stored in the trader pro?le database.
`The individual Workstations are structured, in general
`terms as depicted in FIG. 2. In particular, system CPU 110
`is linked to a terminal monitor 100 and input system
`(keyboard and mouse) 130 via standard address and data
`bus. Memory 120 includes active RAM for storage of
`applications and data as con?gured for that terminal. A
`communication port 140 is set for compatible linkage to the
`above noted netWorks, represented in this Figure as data
`distribution system 150. In addition to the applications
`available via the netWork, each Workstation is uniquely
`programmed With an interface application to insure opera
`tion in a manner that supports broad application compat
`ibility and interaction. This interface is presented in more
`detail hereinbeloW.
`Recalling that the system is capable of operation in tWo
`modes, attention is noW directed to FIG. 3 and the initiation
`of the second mode of system operation. Entry into this
`mode is predicated on a declaration of a disaster of suf?cient
`impetus as to remove or substantially interrupt primary
`trading facilities. This is delineated in the logic ?oW chart,
`starting at block 200 (start) With logic continuing to block
`210 Where the trader pro?le database is changed to “disas
`ter” status. In response to status change, user enters the
`secret code sequence and con?rms the status, block 220.
`The above entered code is then examined and the disaster
`con?rmed by test 230; if no disaster, block 240 provides for
`system exit. A con?rmed disaster passes logic to block 250
`and system execution of the mode (context) sWitch, i.e.,
`shifting from routine operation to a trading operation. This
`requires all current users in the routine run mode to log off,
`block 260. Any remaining on-line users are thereafter auto
`matically logged off via test 270 and block 280. Completion
`of routine user log off is folloWed by the log-in screen
`providing system support to trading operations.
`Turning noW to FIG. 4, the initial function of the system
`is to recon?gure the terminal to correspond to the particular
`trader as logged into that terminal. The logic command for
`this begins With start block 300 and then branches to test
`310, Wherein the USERID(I) is compared to the library of
`traders in the trader pro?le database. If no match exists, the
`system terminates processing block 320, and returns to the
`initial logon screen block 330.
`HoWever, a match in USERID(I) passes logic to block
`340, With the log-on entered into the trader pro?le
`database—user log. In response to the user log entry, the
`system retrieves one or more “desktops” from the trader
`pro?le database, block 350. Each desktop represents a
`custom collection of applications, services and market
`linkages—conforming to the particular needs of the trader as
`identi?ed by the USERID(I). For example, if the trader is
`active in the currency market(s), linkage to the currency
`market(s) is provided in accordance With a stored “desktop”
`
`Page 10
`
`

`
`6,105,005
`
`5
`con?guration speci?c to that trader. The system then scrolls
`through the available and retrieved desktops, ?rst to last,
`block 360 and presents the complete desktop —?rst entry on
`screen, block 370.
`In addition to traditional applications, the system provides
`for specialiZed services, accessed on a trader’s Workstation
`as needed. In particular, as delineated in FIG. 5, the system
`permits database query and maintenance using database
`query tools (“Insight”), triggered by a pre-determined event,
`test 410 such as noti?cation of a disaster—Wherein system
`access to the trader pro?le database is immediate and
`critical. Other database system events include remote access
`and local request via icon entry. A positive event branches
`logic to test 420 and the presentation of multiple menu and
`display options. Selection of a different menu structure by
`the user at test 420 provides for neW menu options, block
`430. At test 440, the user enters the menu choice for
`querying the database in accordance With the particulars of
`the request and the database system structure. At block 450
`and 460, the choice(s) are processed and the responsive
`entries compiled for presentation to the user. A negative
`response to test 440 leads logic to an eXit choice, test 470
`and eXit from the subsystem, block 480.
`The foregoing discussion has utiliZed a hierarchal recita
`tion of system logic ?oW. This methodology is utiliZed as a
`vehicle to best illustrate system programming logic, recog
`niZing that much of the actual tasks are implemented in
`non-sequential fashion—including menu drive, icon or com
`mand line implementation of system commands. Persons
`skilled in the art Will undoubtably recogniZe those aspects of
`system logic and structure best con?gured for hierarchal v.
`non-sequential arrangement.
`Turning noW to FIG. 6, an ATS virtual WindoW manager
`providing enhanced trader access to multiple disparate appli
`cations is delineated. This system is linked to the trader
`pro?le database and thus implements custom control regi
`mens speci?c to the trader as identi?ed during logon.
`WindoW control of an application is tied to the logon
`USERID(I) as channeled through the ATS WindoW manager.
`In operation, the virtual WindoW manager is the desktop
`director, controlling all functions and access links available
`from that Workstation.
`In operative terms, logic begins With start block 500
`Wherein the manager is loaded into active memory. At this
`point, hoWever, the manager is transparent to the initial login
`screen and desktop—but available by entry of a launchpad
`event. This is triggered by function key, keystroke combi
`nation or mouse actuation, Which is detected at test 510.
`When launched, the WindoWs manager presents ?ve separate
`modules to the user on screen, respectively indicated in FIG.
`6 by tests 520, 540, 570, 590, and 670. The ?rst module, test
`520 is the path to the help system. This system contains
`conteXt sensitive collection of operation instructions, avail
`able in display or voice format to the user, block 530.
`The second module, test 540, provides user selection of a
`neW desktop arrangement. Upon positive response, the cur
`rent desktop, including active and passive WindoW applica
`tion icons, are cleared, block 550 and replaced With the
`neWly selected desktop, block 560—including the neWly
`opened and activated applications. The third module, test
`570 refers to the system ability via the manager to orient the
`keyboard focus betWeen the various opened WindoW appli
`cations. For eXample, the user may Wish to enter trade orders
`in the TSS application. (See above identi?ed patent to
`Kalmus, et al.). The TSS WindoW is activated for keyboard
`entry via block 580, enabling key-stroke input of commands
`and trade descriptors for this application.
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`The fourth module is directed to application launch exter
`nal to the presently accessed desktop. Many applications are
`expensive to access or take signi?cant system resources, and
`thus unless in use, they should be “off-line”. To bring online,
`block 600, the launch script opens an active WindoW Within
`the manager, “yes” to test 610, Which leads to the display of
`the application and use of secondary WindoWs if needed,
`blocks 620—630. A negative response to test 610—no neW
`WindoW—redirects the neWly opened application to a cur
`rent WindoW in the eXtent desktop, test 640 and block 650.
`If no WindoWs are available for the neWly opened
`application, block 660 re?ects system WindoW saturation
`and returns logic to the menu start.
`The ?nal module focuses on the logout routine, test 670,
`Which terminates all active application processing, block
`680 and presents the initial login screen to the neXt user,
`block 690.
`
`EXAMPLE
`
`The foregoing features can be better appreciated in the
`conteXt of an illustrative eXample of their implementation. A
`system conforming to the dictates of the foregoing descrip
`tion is initially con?gured to operate in a ?rst mode—
`dedicated to managing dividend payment processing for a
`collection of mutual funds. This operation is located in the
`suburbs to a major ?nancial center, such as NeW York City.
`Separately, the system proprietor maintains a trading depart
`ment located in the ?nancial center. The trading ?oor is
`equipped With 1200 Workstations of the type utiliZed in
`securities trading each With a skilled trader in attendance.
`Amajor disruption creates a poWer failure in the ?nancial
`center of such scope that all 1200 Workstations are
`incapacitated, With eXpected doWn time of tWo to three
`Weeks. In response, a disaster is declared and authoriZed
`disaster codes are entered via ethernet LAN 20 (FIG. 1), thus
`activating the trader operation at each remote Workstation as
`depicted in FIG. 1. For each station, the user con?rms
`disaster status on-line and logs off upon con?rmation (FIG.
`2).
`Traders access the system, entering the appropriate login
`information, including the unique USERID(I) via the com
`mands of FIG. 4, and the trader-speci?c desktop is presented
`on screen. For USERID(23), a currency trader, the desktop
`con?guration includes four separate WindoWs With the vir
`tual WindoWs manager running in the background—the
`“virtual” aspect of the WindoWs manager indicates that one
`or more WindoW applications are off-screen. The ?rst tWo
`WindoWs are for Telerate and Reuters information
`services—both applications are via remote link and are
`displayed in separate on-screen WindoWs under the direction
`of the WindoW manager. The third WindoW is a trading
`screen for the currency market—futures contracts
`included—With details on breaking trades. The ?nal WindoW
`is that trader’s “BACKOFFICE”—a clearing and settlement
`application directed to the trader’s interaction With the
`market.
`Interaction With each of these WindoWs is via keystroke
`and transducer—With trading continuing as if emanating
`from the primary trading ?oor. At the termination of the
`disaster declaration, the Workstations are recon?gure to
`operate in their initial mode—dividend management.
`The above-described arrangement is merely illustrative of
`the principles of the present invention. Numerous modi?
`cations and adaptations thereof Will be readily apparent to
`those skilled in the art Without departing from the spirit and
`scope of the present invention.
`
`Page 11
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`6,105,005
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`7
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`What is claimed is:
`1. An apparatus providing fault-tolerant operation to
`interrupted services associated With trading of ?nancial
`assets on at least one electronic exchange, Wherein said
`interrupted services involve a partial or complete failure of
`a primary computer system for implementing ?nancial trans
`actions on said at least one electronic exchange, said appa
`ratus comprising:
`a remote system including a plurality of Work stations at
`one or more locations remote from said primary com
`puter system; Wherein the remote system is adapted to:
`(a) operate in a disaster mode of operation upon dis
`ruption of the primary computer system so as to pro
`vide for the implementation of one or more ?nancial
`transactions over the electronic exchange, and (b) oper
`ate in a normal mode of operation Which involves
`implementation of at least one transaction in addition
`to, other than, or in lieu of, ?nancial transactions on
`said electronic exchange;
`a communications mechanism adapted to establish a link
`betWeen said remote system and said electronic
`exchange, Wherein said communications mechanism
`provides for real time access from said remote system
`to said electronic exchange;
`Wherein said remote system includes a database and
`associated programming comprising:
`(i) a security command to Which said remote system
`responds by changing the operation of said remote
`system from said normal mode of operation to said
`disaster mode of operation, and a programmed com
`mand enabling select access via said remote system
`and said communications mechanism by at least one
`individual trader to said at least one exchange,
`(ii) an access command for providing access from said
`remote system via said communications mechanism
`to said electronic exchange; and
`(iii) a retrieval mechanism for retrieving from said
`database a desktop display con?guration for each of
`a plurality of individual traders, said database includ
`ing trader speci?c information de?ning at least one
`of applications, services, and on-line electronic
`exchange desktop con?guration information.
`2. The apparatus of claim 1, Wherein said remote system
`further includes a netWorking mechanism in communication
`With said plurality of Work stations.
`3. The apparatus of claim 1 Wherein each of a plurality of
`respective said Work stations are individually con?gured to
`a corresponding speci?c trader in a manner so as to provide
`at least one of:
`(a) a link to one or more remote information services; and
`(b) trading access to one or more electronic exchanges.
`4. A system for providing a secondary platform to effect
`trading of ?nancial assets, equipped to communicate With at
`least one electronic exchange, said system comprising:
`a database for storage and retrieval of data, and modi?
`cation of data stored therein;
`an input mechanism adapted for storage of access control
`information into said system, including one or more
`code entries indicating a ?rst mode of operation and
`one or more code entries indicating a second mode of
`operation, Wherein said second mode of operation is
`implemented in response to a primary trading platform
`interruption, said secondary platform is a trading plat
`form the input mechanism also adapted to store at least
`one user access code;
`a data display for said second platform for information
`display of data associated With real time transactions
`corresponding to at least one of:
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`(i) market activity on said at least one electronic
`exchange,
`(ii) data from one or more on-line information services,
`and
`(iii) applications programs relating to said market activ
`ity or services;
`a processing mechanism for receiving data from said
`database and determining Whether access to said
`system is authoriZed and, if so, changing said system
`operating mode to said second mode of operation
`and in conformance With a pre-established set of
`select trading parameters stored in said database,
`Wherein the ?rst mode of operation is associated With
`?nancial service administration, and the second
`mode of operation effects said trading of ?nancial
`assets on said electronic exchange, Wherein said
`input mechanism, said database, and said processing
`mechanism are associated With emulating a trading
`terminal in communication With said electronic
`exchange.
`5. The system of claim 4 Wherein said processing mecha
`nism further includes programmable access to one or more
`system databases having memory locations addressable by
`said input mechanism, and programmable access for access
`ing information on any of a plurality of individual traders.
`6. The system of claim 5 Wherein said trading parameters
`include data on one or more electronic exchanges available
`for access through said Work station in response to said user
`access code.
`7. The system of claim 4 further comprising a netWork
`communication mechanism for establishing one or more
`links to remote processors for support of trading in ?nancial
`instruments and for receiving information from a remote
`on-line data service.
`8. A data processing method for operating a fault tolerant
`system that provides at least one remote terminal With
`selected access to an electronic exchange for executing
`transactions in accordance With user commands, such that,
`in response to a hardWare and/or softWare failure of suf?
`cient scope that a primary trading netWork coupled to the
`electronic exchange is closed or substantially curtailed in
`operation, the folloWing steps are performed:
`entering in a Workstation terminal a failure code and a
`user identi?cation code to effect translation of said
`Workstation to a fault-tolerant trading station;
`a processing mechanism comparing said entered failure
`code to one or more failure codes stored in a memory
`device and comparing the entered user identi?cation
`code to one or more user identi?cation codes stored in
`the memory device and, in response to ?nding a match
`betWeen (a) the entered failure code and at least one
`stored failure code, and (b) betWeen the entered user
`identi?cation code and at least one stored user identi
`?cation code, causing said Workstation to operate in a
`?rst mode so as to permit communication With one or
`more electro