초록 ▼

A system is provided for continuous intraday final settlement of payment orders among a plurality of financial-institution participants. The system includes a central controlling agent, including a central computer operable to communicate electronically with satellite computer stations of the plural

A system is provided for continuous intraday final settlement of payment orders among a plurality of financial-institution participants. The system includes a central controlling agent, including a central computer operable to communicate electronically with satellite computer stations of the plurality of participants to receive payment orders therefrom, and to control release of payments among the plurality of participants; and means for storing a plurality of prefunded balances in a prefunded balance account, each balance representing the right of one of the participants to payment from the prefunded balance account and containing an initial prefunded balance for each participant at the start of each business day.

대표청구항 ▼

[ What is claimed is:] [1.] A system for continuous intraday final settlement of payment orders among a plurality of financial-institution participants, each having an associated satellite computer station operable to transmit payment orders electronically and each being operable to function as a pa

[ What is claimed is:] [1.] A system for continuous intraday final settlement of payment orders among a plurality of financial-institution participants, each having an associated satellite computer station operable to transmit payment orders electronically and each being operable to function as a payment receiving participant and a payment sending participant; said system comprising:(a) a central controlling agent, including a central computer operable to communicate electronically with the satellite computer stations of the plurality of participants to receive payment orders therefrom, and to control release of payment orders among the plurality of participants; and(b) means for storing a plurality of prefunded balances in a prefunded balance account, each balance representing the right of one of the participants to payment from the prefunded balance account and containing an initial prefunded balance for each participant at a start of each business day,wherein said central computer is operable on a continuous basis:(1) upon receipt of a payment order by said central controlling agent from one of said participants, operating as a sending participant, for payment to another of said participants, operating as a receiving participant, to categorize each received payment order as small if it is less than a predetermined percentage of one of the initial prefunded balance for the associated sending participant and the initial prefunded balance for the associated receiving participant, and as large otherwise;(2) to store the received payment order in a queue maintained by said central computer;(3) to monitor the queue for previously stored small payment orders as candidates for immediate release for payment;(4) to determine if release of a candidate small payment order for payment will cause available balances for both the sending participant and the receiving participant associated with the candidate small payment order to fall within respective predetermined limits;(5) if the determination in step (4) is positive, to release the candidate small payment order by debiting the available balance of the sending participant and crediting the available balance of the receiving participant by the amount of the associated candidate small payment order;(6) to monitor the queue for previously stored target large payment orders for payment from a sending participant to a receiving participant;(7) to release a target large payment order stored in the queue by performing multilateral batching (i) by forming a first tree comprised of the target payment order and, if necessary, helper payment orders in a direction towards the sending participant of the target payment order, from at least one sending participant other than the sending participant of the target large payment order; (ii) by forming a second tree comprised of the target payment order and, if necessary, helper payment orders in a direction away from the receiving participant of the large target payment order, to at least one receiving participant other than the receiving participant of the target payment order; (iii) debiting the available balances of the sending participant of the target large payment order and of the sending participants of the helper payment orders in a multilateral batch comprising the target and helper payment orders of the first and second trees by the amounts of each respective payment order; and (iv) crediting the balances of the receiving participant of the target large payment and of the receiving participants of the helper payment orders in the multilateral batch by the amounts of the respective payment orders; the multilateral batch having been chosen so that after the payment orders comprising the first and second trees are released, the resulting position in the available balance of each participant involved in the multilateral batching falls within predetermined limits.