System and method for specified pool trading

Abstract

A computer system and related computer-implemented methods are designed and configured to store and deliver, upon request, information related to a plurality of asset-backed security pools, and to execute transactions between one or more parties relating to at least one of the plurality of asset backed security pools. The computer system generally comprises a computer including a computer usable medium storing a computer readable program and a network interface that includes software modules and a data storage system in communication with the computer via the network interface, the data storage system storing information relating to the plurality of asset backed securities, and account information related to at least the one or more parties. The computer is operative with the computer readable program to provide information related to a plurality of asset-backed security pools to at least one of the parties, enable the at least one party to select one or more asset-backed security pools for inclusion in a specified pool, provide aggregate pool data related to the selected specified pool, provide information related to the selected specified pool to at least one other party, receive pricing information from the at least one other party, and execute a trade for the asset-backed security pools in the specified pool.

1 . A computer-implemented method for creating specified pool lists of asset-backed security pools using a computer system capable of communication with an buyer computer and a plurality of seller computers, the method comprising:
 providing information from the computer system relating to a plurality of asset-backed security pools to the buyer computer;   receiving from the buyer computer a first signal indication, a selection of one or more asset-backed security pools;   creating a specified pool list of asset-backed security pools based on the selection of one or more asset-backed security pools received from the buyer computer;   causing the specified pool list to be displayed on at least one of the plurality of seller computers;   receiving a second signal indicative of pricing for at least one asset-backed security pool in the specified pool list from at least one of the plurality of seller computers; and   executing a transaction for at least one asset-backed security pool in the specified pool lists for which pricing was received from the at least one of the plurality of seller computers.   
     
     
         2 . The method of  claim 1 , wherein the step of providing information relating to a plurality of asset-backed security pools to an investor using the buyer computer comprises:
 retrieving information for each of the asset-backed security pools from a source; and   causing the display of the information on the buyer computer.   
     
     
         3 . The method of  claim 2 , wherein the source is a database. 
     
     
         4 . The method of  claim 2 , wherein the source is an external information provider. 
     
     
         5 . The method of  claim 2 , further comprising receiving a third signal indicating a criteria for the asset-backed security pools from the buyer computer and wherein the retrieving step comprises retrieving information for each of the asset-backed security pools from the source based on the criteria. 
     
     
         6 . The method of  claim 1 , wherein the asset-backed security is a mortgage-backed security. 
     
     
         7 . The method of  claim 6 , wherein the information includes a CUSIP number. 
     
     
         8 . The method of  claim 6 , wherein the information includes a pool number. 
     
     
         9 . The method of  claim 6 , wherein the information includes a weighted average maturity. 
     
     
         10 . The method of  claim 6 , wherein the information includes a weighted average coupon. 
     
     
         11 . The method of  claim 6 , wherein the information includes a constant prepayment rate. 
     
     
         12 . The method of  claim 6 , wherein the information includes an originator identifier. 
     
     
         13 . The method of  claim 6 , wherein the information includes an average loan size. 
     
     
         14 . The method of  claim 6 , wherein the information includes a maximum loan size. 
     
     
         15 . The method of  claim 6 , wherein the information includes one or more geographic loan locations. 
     
     
         16 . The method of  claim 6 , wherein the information includes an average FICO score. 
     
     
         17 . The method of  claim 1 , wherein the creating step further comprises:
 generating a matrix of asset-backed security pools based on the selection of one or more asset-backed security pools; and   calculating aggregate information related to the matrix of one or more asset-backed security pools.   
     
     
         18 . The method of  claim 17 , wherein the aggregate information includes an aggregate original face value. 
     
     
         19 . The method of  claim 17 , wherein the aggregate information includes an aggregate call value. 
     
     
         20 . The method of  claim 17 , wherein the aggregate information includes an aggregate market value. 
     
     
         21 . The method of  claim 17 , wherein the aggregate information includes aggregated data related to at least one indicator for the one or more asset-backed security pools. 
     
     
         22 . The method of  claim 21 , wherein the at least one indicator is selected from the group consisting of a CUSIP number, a pool number, a weighted average maturity, a weighted average coupon, a constant prepayment rate, an originator identifier, an average loan size, a maximum loan size, one or more geographic loan locations, and an average FICO score. 
     
     
         23 . The method of  claim 17 , wherein the step of causing the specified pool list to be displayed on at least one of the plurality of seller computers comprises causing the matrix of asset-backed security pools to be displayed on one or more seller computers. 
     
     
         24 . The method of  claim 1 , wherein pricing for the specified pool list is received in the form of a spread from the at least one seller. 
     
     
         25 . The method of  claim 24 , wherein a plurality of sellers submit pricing for the specified pool list. 
     
     
         26 . The method of  claim 25 , wherein the investor selects pricing from one of the plurality of sellers for all of the asset-backed security polls in the specified pool list. 
     
     
         27 . The method of  claim 25 , wherein the investor selects pricing from at least two of the plurality of sellers for a portion of the asset-backed security polls in the specified pool list. 
     
     
         28 . A computer-implemented method for a creating specified pool of assets using a system capable of communication with an buyer computer and a plurality of seller computers, the method comprising:
 receiving from the buyer computer criteria related to the specified pool of assets;   transmitting the criteria to one or more seller computers;   receiving from at least one of the seller computers, information relating to a pool of assets; and   transmitting the information relating to the pool of assets to the buyer computer.   
     
     
         29 . The method of  claim 28 , wherein the pool of assets is in inventory. 
     
     
         30 . The method of  claim 28 , wherein the pool of assets is a pool of assets to be created. 
     
     
         31 . The method of  claim 28 , wherein the pool of assets is a mortgage-backed security. 
     
     
         32 . A computer program product, comprising a computer usable medium having a computer readable program code embodied therein, said computer readable program code comprising:
 (i) a pool selection module comprising programming to cause a computer to: retrieve information relating to a plurality of asset backed securities from a database in communication with the database, transmit the information through a network to a buyer computer, and receive a selection signal from the buyer computer, the selection signal including an indication of at least one or more asset backed security pools;   (ii) a order creation module comprising programming to cause the computer to: create a specified pool list based on the selection signal received from the buyer computer;   (iii) a trade negotiation module comprising programming to cause the computer to: transmit the specified pool list to at least one dealer computer and receive a price signal from the dealer computer representing a dollar amount for the asset backed securities in the specified pool list identified; and   (iv) an execution module comprising programming to cause the computer to: transmit the price signal to the buyer computer, receive an authorization signal from the buyer computer in response to the price signal, and execute a transaction based on the specified pool list and the price signal.   
     
     
         33 . A computer program product, comprising a computer usable medium having a computer readable program code embodied therein, said computer readable program code adapted to be executed to implement a method for a creating specified pool of assets, said method comprising:
 providing a system, wherein the system comprises distinct software modules, and wherein the distinct software modules comprise a order creation module, a trade negotiation module, a list response manager, and an execution module;   retrieving information relating to a plurality of asset backed securities from a database in communication with the system through a network to a buyer computer, and causing the display of the information on a remote computer, and wherein the retrieving is performed by the order creation module in response to a pool selection initiation signal received from the remote computer;   receiving a selection signal from the remote computer, the selection signal including an indication of at least one or more asset backed security pools selected from the plurality of asset backed securities, and wherein when the selection signal is received, the order creation module creates a specified pool list based on the selection signal received from the remote computer, and wherein the order creation module then calls the trade negotiation module;   causing the display of the specified pool list on at least one seller computer, along with an interface prompting input of a price for the asset backed securities represented in the specified pool list, and receiving from the seller computer a price signal representing the inputted price for the asset backed securities represented in the specified pool list, wherein the causing and receiving is performed by the trade negotiation module in conjunction with the list response manager; and   causing the price signal to be displayed on the remote computer, along with an interface for reviewing and accepting or rejecting the price signal at the remote computer, and executing a transaction based on the specified pool list and the price signal in response to receipt of an authorization signal received at the system from the remote computer.   
     
     
         34 . A computer system designed and configured to store and deliver, upon request, information related to a plurality of asset-backed security pools, and to execute transactions between one or more parties relating to at least one of the plurality of asset backed security pools, the computer system being capable of communication with one or more remote computers accessed by the one or more parties, the computer system comprising:
 a computer including a computer usable medium storing a computer readable program and a network interface, wherein the computer readable program comprises software modules including a pool selection module, an order creation module, a trade negotiation module, and an execution module;   a data storage system in communication with the computer via the network interface, the data storage system storing information relating to the plurality of asset backed securities, and account information related to at least the one or more parties; and   wherein the computer, operative with the computer readable program, provides information related to a plurality of asset-backed security pools to at least one of the parties, enables the at least one party to select one or more asset-backed security pools for inclusion in a specified pool, provide aggregate pool data related to the selected specified pool, provide information related to the selected specified pool to at least one other party, receive pricing information from the at least one other party, and execute a trade for the asset-backed security pools in the specified pool.