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  A risk management system for securitiesRelated Patent Categories: Data Processing: Financial, Business Practice, Management, Or Cost/price Determination, Automated Electrical Financial Or Business Practice Or Management Arrangement, Finance (e.g., Banking, Investment Or Credit), Credit (risk) Processing Or Loan Processing (e.g., Mortgage)A risk management system for securities description/claimsThe Patent Description & Claims data below is from USPTO Patent Application 20060184449, A risk management system for securities. Brief Patent Description - Full Patent Description - Patent Application Claims
CONTINUATION, CONTINUATION IN PART AND CROSS REFERENCE TO RELATED APPLICATIONS [0001] This application is a continuation of application Ser. No. 10/329,172 filed Dec. 23, 2002 the disclosure of which is incorporated herein by reference and a continuation in part of application Ser. No. 09/688,983 filed Oct. 17, 2000 the disclosure of which is incorporated herein by reference. The subject matter of this application is also related to the subject matter of U.S. patent application Ser. No. 09/994,740 filed Nov. 28, 2001, U.S. patent application Ser. No. 10/012,374 filed Dec. 12, 2001, U.S. patent application Ser. No. 10/036,522 filed Jan. 7, 2002, U.S. patent application Ser. No. 10/747,471 filed Dec. 29, 2003, U.S. patent application Ser. No. 10/821,504 filed Apr. 9, 2004 and U.S. patent application Ser. No. 11/142,785 filed May 31, 2005 the disclosures of which are incorporated herein by reference. BACKGROUND OF THE INVENTION [0002] This invention relates to the identification, measurement and management of the risk associated with a portfolio of securities and the automated development and delivery of products and programs that help transfer said risk for a plurality of customers. [0003] Insurance and most financial services are generally delivered in a manner that is very cumbersome. A system that would enable financial service firms to provide financial "products" like insurance, derivatives, foreign exchange, capital and credit tailored to the specific situation on a "just-in-time" would clearly be beneficial. [0004] One of the biggest problems with achieving this goal has been that there has been no agreed upon method for analyzing risk, liquidity and foreign exchange requirements and for communicating that information to financial service firms. It is worth noting at this point that while XML is widely touted as a panacea for inter-firm communication it is only useful in establishing the language for the communication--not the substance of what is being communicated. To satisfy all the potential providers of financial services, the substance of the communication regarding risk, liquidity and foreign exchange requirements would have to overcome the limitations of traditional systems and xml. [0005] In light of the preceding discussion, it is clear that it would be desirable to have an automated, real time system that could identify the full spectrum of risk transfer (and liquidity) needs for an security portfolio in a way that that would allow financial service firms to provide "just in time" and/or real time financial products and services in a manner that is customized to the exact needs of the customers using the system. SUMMARY OF THE INVENTION [0006] It is a general object described herein to provide a novel and useful system for the identification, measurement and management of the risk associated with a portfolio of securities and the automated development and delivery of products and programs that help transfer said risk. [0007] The information regarding the risk transfer needs for each customer using the system is continuously developed and communicated to the operator of the system described herein (such as an insurance company or bank) that analyzes the information for each customer in order to: [0008] 1) Arrange swaps of risk, between customers with complementary, offsetting needs (for a fee); [0009] 2) Arrange for risk transfers for a larger fee in order to meet the needs of each customer using the system and the profit goals (and reserve requirements) of the firm operating the system; and [0010] 3) Complete the swaps and risk transfers that have been arranged in accordance with customer instructions. [0011] To provide an integrated system for transferring risk, the system described herein goes on to analyze the information provided by each enterprise and the financial status of firm operating the system (hereinafter, the system operator) to determine if standby credit lines and/or re-insurance are required. If either of these "back-up" (aka contingent) facilities for capital are required, then the appropriate amount of standby credit and/or reinsurance is determined by the system described herein. [0012] By eliminating many of the gaps in information available to personnel in the enterprise and the system, the system described herein enables the just-in-time provision of financial service products and services such as risk transfer that are tailored to the exact needs of the enterprise. The electronic linkage also eliminates the time lag that prevents many from companies from obtaining the risk reduction products they need BRIEF DESCRIPTION OF DRAWINGS [0013] These and other objects, features and advantages described herein will be more readily apparent from the following description of one embodiment of the invention in which: [0014] FIG. 1 is a block diagram showing the major processing steps described herein; [0015] FIG. 2 is a diagram showing the files or tables in the application database (50) described herein that are utilized for data storage and retrieval during the processing in the innovative risk transfer system; [0016] FIG. 3 is a block diagram of an implementation described herein; [0017] FIG. 4 is a diagram showing the data windows that are used for receiving information from and transmitting information to the customer (20) during system processing; [0018] FIG. 5, is block diagrams showing the sequence of steps in the present invention used for specifying system settings and for initializing and operating the data bots that extract, aggregate, store and manipulate information utilized in system processing from: the basic financial system, advanced financial system, customers and external databases; and [0019] FIG. 6 is a block diagram showing the sequence in steps in the present invention used in the collaborative, on-line development and delivery of customized risk transfer programs. 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