Rick Fitzpatrick

Title: Innovations by Rick Fitzpatrick

Introduction

Rick Fitzpatrick is an accomplished inventor based in Rockaway, NJ, known for his contributions to the field of financial technology. With a total of two patents to his name, Fitzpatrick has developed innovative methods that enhance the efficiency and security of financial transactions.

Latest Patents

Fitzpatrick's latest patents include a "Method and system for confirmation and settlement for financial transactions matching." This invention, known as the Crossmar Matching Service (CMS), provides a comprehensive method for matching order routing of securities and other instrument types. It also addresses the post-execution phase by matching financials, delivery instructions, and confirming those deliveries. Another significant patent is the "Method and apparatus for trading securities electronically." This system, known as the Broker to Broker Matching Electronic Trading Confirmation system, automates the confirmation and settlement of trade orders between brokers globally. It efficiently matches orders with confirmations, generates settlement instructions, and allows clearing agents to monitor orders, thereby minimizing risk and improving settlement rates.

Career Highlights

Fitzpatrick is currently employed at Crossmar, Inc., where he applies his expertise in financial technology to develop innovative solutions. His work has significantly impacted the efficiency of trading and settlement processes in the financial sector.

Collaborations

Fitzpatrick collaborates with notable colleagues, including John G Hawkins and Dave M Jacobs, who contribute to the innovative environment at Crossmar, Inc.

Conclusion

Rick Fitzpatrick's contributions to financial technology through his patents demonstrate his commitment to improving transaction processes in the financial industry. His work continues to influence the way financial transactions are confirmed and settled, showcasing the importance of innovation in this field.