The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
May. 08, 2012
Filed:
Mar. 28, 2008
Heeren H Pathak, Woburn, MA (US);
John Artz, Woburn, MA (US);
Jay Goldman, Wellesley, MA (US);
Yashodhan Sathaye, Acton, MA (US);
Scott Souliotis, Amesbury, MA (US);
Annmarie Rogers, Haverhill, MA (US);
Dennis Sheckler, Cambridge, MA (US);
Ladislav Kis, North Andover, MA (US);
Heeren H Pathak, Woburn, MA (US);
John Artz, Woburn, MA (US);
Jay Goldman, Wellesley, MA (US);
Yashodhan Sathaye, Acton, MA (US);
Scott Souliotis, Amesbury, MA (US);
Annmarie Rogers, Haverhill, MA (US);
Dennis Sheckler, Cambridge, MA (US);
Ladislav Kis, North Andover, MA (US);
Vestmark, Inc., Wakefield, MA (US);
Abstract
A system and method for reconciling financial records is provided. Breaks are screened by user defined rules to categorize breaks into categories of relatively higher and relatively lower importance so that relatively higher importance breaks can be presented to the user. Values from a custodian system can be automatically accepted. Certain types of transaction differences may be selected to be automatically corrected. The types of corrections to be applied are selected. The financial account reconciliation system is updated with the values. For investments that are not reported as trades once the order to purchase has been placed, outstanding trade orders may be matched to unmatched transactions. For updates sent for an older transaction, back-dated transactions may be compared by automatically loading historical transactions and comparing historical transactions to a back-dated transaction as if it were not backdated. For investments that have information that will not be known until the investments are settled, proper matching of positions and transactions that have not yet settled may be enabled by identifying and ignoring the position and transaction breaks this unknown information causes.