METHODS AND SYSTEMS FOR RETRIEVING DATA STORED IN A DATABASE
A computer-implemented, transaction-making, municipal bond trading system having a capability to conduct a private electronic auction of bid wanteds between a central brokers' broker and multiple prospective remote bidders and to maintain a reference database of accurate individual bond lot descriptions and identifications, including CUSIP (trademark) numbers.
1 . A method for trading bonds electronically, the method comprising:
receiving a bid wanted for at least one bond lot from a selling user computer;
transmitting the bid wanted to a plurality of bidding users;
receiving a plurality of bids responding to the bid wanted from the plurality of bidding users, wherein each of the plurality of bids are not disclosed to the other bidding users;
transmitting to the selling user computer an ordered list of the bids received from the plurality of bidding users; and
executing a sale of the at least one bond lot in response to the selling user accepting one of the bids.
2 . The method of claim 1 , comprising identifying a high bid from the plurality of bids, the list of the bids comprising the identified high bid.
3 . The method of claim 1 , wherein the ordered list of the plurality of bids received is transmitted to the selling user sorted by at least one of yield and price.
4 . The method of claim 1 , comprising transmitting a list of bonds to the selling user and receiving from the selling user a selection of at least one bond from the list of bonds to be included in the bid wanted.
5 . The method of claim 4 , wherein the bonds are sorted by maturity date.
6 . The method of claim 4 , wherein the list of bonds comprises at least one item of bond data for each of a plurality of bonds on the list.
7 . The method of claim 6 , wherein the at least one item of bond data comprises at least one of coupon, maturity, issuer, and yield data.
8 . The method of claim 4 , wherein the at least one item of bond data comprises at least one item of market data for each of a plurality of bonds on the list.
9 . The method of claim 4 , wherein the list of bonds comprises a plurality of bond offerings.
10 . The method of claim 4 , comprising receiving a query from the selling user, wherein the list of bonds comprises a plurality of bonds retrieved in response to the query.
11 . The method of claim 4 , comprising receiving a selection of a bond from the list of bonds and incorporating at least one item of bond data associated with the selected bond into the bid wanted.
12 . The method of claim 1 , wherein the bid wanted comprises at least one item of bond lot data system incorporated into the bid wanted.
13 . The method of claim 12 , wherein the at least one item of bond lot data system incorporated into the bid wanted comprises at least one of a unique issue identifier, a description, a maturity date, a par value, a coupon value, a yield, and a settlement date.
14 . The method of claim 12 , wherein the at least one item of bond lot data is incorporated into the bid wanted based at least on another item of bond lot data provided by the selling user.
15 . The method of claim 12 , comprising receiving a bond lot description from the selling user and wherein the at least one item of bond lot data system-incorporated into the bid wanted comprises a unique issue identifier.
16 . The method of claim 15 , comprising transmitting a list of bonds to the selling user, the bond lot description received with the selling user selecting a bond from the list of bonds.
17 . The method of claim 1 , wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a list of bidding users.
18 . The method of claim 1 , wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a predetermined destination list of brokerage firms.
19 . The method of claim 1 , wherein the selling user is able to accept at least one of the bids transmitted to the selling user, the method comprising receiving an acceptance of at least one of the bids, and executing a trade of the at least one bond lot between the selling user and at least one of the plurality of bidding user that submitted the accepted at least one bids.
20 . A system for trading bonds electronically, the system comprising at least one computer connected over a computer network to at least one selling user computer and a plurality of bidding user computers, the at least one computer configured to:
receive a bid wanted for at least one bond lot from a selling user computer;
transmit the bid wanted to a plurality of bidding users;
receiving a plurality of bids responding to the bid wanted from the plurality of bidding users, wherein each of the plurality of bids are not disclosed to the other bidding users;
transmit to the selling user computer an ordered list of the bids received from the plurality of bidding users; and
execute a sale of the at least one bond lot in response to the selling user accepting one of the bids.
21 . The system of claim 20 , the at least one computer configured to identify a high bid from the plurality of bids, the list of the bids comprising the identified high bid.
22 . The system of claim 20 , wherein the ordered list of the plurality of bids received is transmitted to the selling user sorted by at least one of yield and price.
23 . The system of claim 20 , the at least one computer configured transmit a list of bonds to the selling user and receiving from the selling user a selection of at least one bond from the list of bonds to be included in the bid wanted.
24 . The system of claim 23 , wherein the bonds are sorted by maturity date.
25 . The system of claim 23 , wherein the list of bonds comprises at least one item of bond data for each of a plurality of bonds on the list.
26 . The system of claim 25 , wherein the at least one item of bond data comprises at least one of coupon, maturity, issuer, and yield data.
27 . The system of claim 23 , wherein the at least one item of bond data comprises at least one item of market data for each of a plurality of bonds on the list.
28 . The system of claim 23 , wherein the list of bonds comprises a plurality of bond offerings.
29 . The system of claim 23 , the at least one computer configured receive a query from the selling user, wherein the list of bonds comprises a plurality of bonds retrieved in response to the query.
30 . The system of claim 23 , the at least one computer configured receive a selection of a bond from the list of bonds and incorporating at least one item of bond data associated with the selected bond into the bid wanted.
31 . The system of claim 20 , wherein the bid wanted comprises at least one item of bond lot data system incorporated into the bid wanted.
32 . The system of claim 31 , wherein the at least one item of bond lot data system incorporated into the bid wanted comprises at least one of a unique issue identifier, a description, a maturity date, a par value, a coupon value, a yield, and a settlement date.
33 . The system of claim 31 , wherein the at least one item of bond lot data is incorporated into the bid wanted based at least on another item of bond lot data provided by the selling user.
34 . The system of claim 31 , the at least one computer configured receive a bond lot description from the selling user and wherein the at least one item of bond lot data system-incorporated into the bid wanted comprises a unique issue identifier.
35 . The system of claim 34 , the at least one computer configured transmit a list of bonds to the selling user, the bond lot description received with the selling user selecting a bond from the list of bonds.
36 . The system of claim 20 , wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a list of bidding users.
37 . The system of claim 20 , wherein the bid wanted is transmitted to a plurality of specified bidding users selected from a predetermined destination list of brokerage firms.
38 . The system of claim 20 , wherein the selling user is able to accept at least one of the bids transmitted to the selling user, the at least one computer configured receive an acceptance of at least one of the bids, and executing a trade of the at least one bond lot between the selling user and at least one of the plurality of bidding user that submitted the accepted at least one bids.
39 . A method for trading bonds electronically, the method comprising:
transmitting a list of bonds to a selling user;
receiving from the selling user a selection of at least one bond from the list of bonds to be included in the bid wanted;
receiving a bid wanted for the selected at least one bond lot from a selling user computer;
transmitting the bid wanted to a plurality of bidding users selected from a list of bidding users;
receiving a plurality of bids responding to the bid wanted, wherein each of the plurality of bids are not disclosed to other bidding users; and
transmitting to the selling user computer a list of the bids received from the plurality of bidding users, wherein the selling user is able to accept at least one of the bids transmitted to the selling user.