Methods, Software, and Systems for Over-the-Counter Trading

Abstract

Methods, software, and hardware are disclosed for providing verified real time price quotes in an over-the-counter financial market. Systems are described that can comprise methods, software, and/or hardware to provide verified real time price information for securities traded over-the-counter. Verification methods of the invention include identifying suspect source data, wherein the suspect source data includes information about the price of a security, verifying the suspect source data, and displaying to a user a verified price quote of a security traded in an over-the-counter market to a user. The verification methods of the invention include using hash functions and hash tables to process suspect source data, wherein the hashing allows for confidential processing while at the same time maintaining the ability to match a price quote to the source of the price quote.

1 . A method for providing a price quote on a security traded in an over-the-counter financial market, comprising:
 (a) receiving source data comprising price information of the security;   (b) storing the source data on a computer readable medium;   (c) processing the source data using a computer processor, wherein the processing comprises extracting a price quote from the source data, comparing the price quote to at least one pre-selected criterion, and storing the compared price quote on a computer readable medium; and   (d) designating source data that meets the at least one pre-selected criterion as suspect data.   
     
     
         2 . The method of  claim 1 , wherein the source data is received from multiple sources and comprises more than one price quote for the security. 
     
     
         3 . The method of  claim 2 , wherein the source data is received from at least a first source and a second source, wherein the source data received from the first source is in a different format than the source data received from the second source. 
     
     
         4 . The method of  claim 2 , wherein the format of the source data comprises an email, html, text, xml, or combinations thereof. 
     
     
         5 . The method of  claim 1 , wherein the step of processing the source data comprises parsing the source data before comparing the source data to the at least one pre-selected criterion. 
     
     
         6 . The method of  claim 5 , wherein the parsing comprises categorizing words, patterns, and/or numbers in the data source to identify market data in the source data. 
     
     
         7 . The method of  claim 1 , further comprising:
 (e) displaying the compared price quote, wherein the compared price quote comprises a price quote for a security traded in an over-the-counter financial market.   
     
     
         8 . The method of  claim 7 , wherein (e) comprises displaying the compared price quote in ranking of price quotes. 
     
     
         9 . The method of  claim 1 , wherein the security comprises a credit default swap. 
     
     
         10 . The method of  claim 1 , wherein the security comprises a corporate bond. 
     
     
         11 . The method of  claim 1 , wherein the security comprises a convertible bond. 
     
     
         12 . The method of  claim 1 , wherein the security comprises a credit index security. 
     
     
         13 . The method of  claim 1 , wherein the security comprises an index tranche security. 
     
     
         14 . The method of  claim 1 , wherein the at least one pre-selected criterion comprises a market price outside of an expected range of values. 
     
     
         15 . A computer-readable medium containing instructions for causing a computer device to perform the steps comprising:
 (a) receiving source data comprising price information of a security traded in an over-the-counter financial market;   (b) storing the source data on a computer readable medium;   (c) processing the source data to extract a price quote from the source data and compare the price quote to at least one pre-selected criterion; and   (d) designating source data that meets the at least one pre-selected criterion as suspect data.   
     
     
         16 . The computer-readable medium of  claim 15 , wherein the source data is received from multiple sources and comprises more than one price quote for the security. 
     
     
         17 . The computer-readable medium of  claim 16 , wherein the source data is received from at least a first source and a second source, wherein the source data received from the first source is in a different format than the source data received from the second source. 
     
     
         18 . The computer-readable medium of  claim 15 , wherein the format of the source data comprises an email, html, text, xml, or combinations thereof. 
     
     
         19 . The computer-readable medium of  claim 15 , wherein the at least one pre-selected criterion comprises a market price outside of an expected range of values. 
     
     
         20 . The computer-readable medium of  claim 15 , further containing instructions for causing a computer device to perform the step comprising:
 (e) displaying the compared price quote, wherein the compared price quote comprises a price quote for a security traded in an over-the-counter financial market.