System and method for specified pool trading

Abstract

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

We claim: 
     
         1 . A non-transitory computer program product, comprising a computer usable medium having a computer readable program code embodied therein, said computer readable program code comprising:
 a database;   a pool selection module in communication with the database;   an order creation module in communication with the pool selection module   a trade negotiation module in communication with the order creation module; and   an execution module in communication with the trade negotiation module;   said computer readable program code performing the steps of:   (i) retrieving by the pool selection module information relating to a plurality of mortgage backed securities from the database,   (ii) transmitting by the pool selection module the information through a network to a buyer computer,   (iii) receiving by the pool selection module a selection signal from the buyer computer, the selection signal including an indication of at least one or more mortgage backed security pools;   (iv) creating on a processor by the order creation module a specified list of mortgage backed security pools based on the selection signal received from the buyer computer wherein each of the mortgage-backed security pools that are part of the specified list is associated with a unique CUSIP number and contains a pool factor that is reflective of the principal left to be distributed in each of the mortgage-backed security pools;   (v) transmitting by the trade negotiation module the specified list to at least one dealer computer and receiving a price signal from the dealer computer representing a dollar amount for the mortgage backed securities in the specified list;   (vi) transmitting by the execution module the price signal to the buyer computer,   (vii) receiving by the execution module an authorization signal from the buyer computer in response to the price signal, and   (viii) executing a transaction by the execution module based on the specified list and the price signal wherein each of the mortgage backed security pools in the specified list has been guaranteed by a government sponsored enterprise (GSE).   
     
     
         2 . A non-transitory 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 perform the method comprising the steps of:
 operating a system, wherein the system comprises distinct software modules, and wherein the distinct software modules comprise an order creation module, a trade negotiation module, a list response manager, and an execution module; 
 retrieving information relating to a plurality of mortgage-backed securities from a database in communication with the system through a network to a buyer computer, and displaying 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 an inquiry signal from the remote computer, the signal including criteria related to one or more mortgage-backed security pools; 
 obtaining securitization of the mortgage-backed security pools from a government sponsored enterprise; 
 displaying of an inquiry message on a selected seller computer, the inquiry message including the criteria; 
 receiving from the selected seller computer, information relating to the one or more mortgage-backed security pools based upon at least a portion of the criteria; 
 displaying of the received information on the remote computer; 
 receiving a selection signal from the remote computer, wherein the selection signal includes an indication of at least one of the one or more mortgage-backed security pools, each of which is associated with a CUSIP number and a pool factor that is reflective of the principal left to be distributed in each of the mortgage-backed security pools, being selected from the plurality of the one or more mortgage-backed security pools, and wherein when the selection signal is received, the order creation module creates on a processor a specified list based on the selection signal received from the remote computer, and wherein the order creation module then calls the trade negotiation module; 
 displaying of the specified list that is displayed on at least one seller computer, along with an interface prompting input of a price for at least one of the mortgage-backed security pools represented in the specified list, and receiving from the seller computer a price signal representing the inputted price for the mortgage-backed security pools represented in the specified list, wherein the generating and receiving is performed by the trade negotiation module in conjunction with the list response manager; and 
   displaying of the price signal that is 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 list and the price signal in response to receipt of an authorization signal received at the system from the remote computer.   
     
     
         3 . A computer system designed and configured to store and deliver, upon request, information related to a plurality of mortgage backed security pools, and to execute transactions between one or more parties relating to at least one of the plurality of mortgage backed security pools, the computer system in communication with one or more remote computers accessed by the one or more parties, the computer system comprising:
 a computer having a processor 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 mortgage backed security pools, each of which is associated with a CUSIP number a pool factor that is reflective of the principal left to be distributed in each of the mortgage-backed security pools, 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 the plurality of mortgage backed security pools to at least one of the parties; obtains securitization of the mortgage-backed security pools from a government sponsored enterprise; receives from the at least one party an inquiry including criteria related to one or more mortgage backed security pools; transmits an inquiry message to a selected party, the inquiry message including the criteria, receives from the selected party information relating to the one or more mortgage backed security pools based upon at least a portion of the criteria, transmits the received information to the at least one party, 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 mortgage backed security pools in the specified pool.