Apparatuses, methods and systems for a periodic auction reset securities optimization engine
View Patent ↗Dynamic management of one or more portfolios of securities, in particular, portfolios of Periodic Auction Reset Securities (PARS) is disclosed. The dynamic management for the specification of rules for investor accounts by which optimization of this type of portfolio may occur and allows financial institutions or other wealth management entities to easily maintain and invest in PARS holdings for multiple accounts. For example, the dynamic management systems and methods can provide for the maintenance of a large number of separate accounts that contain PARS, centralize the maintenance of PARS positions, allow management of central PARS accounts in line with guidelines specified in one or more account profiles, allow sales traders to specify additional guidelines, and/or automate account analysis, trade generation and/or participation in the auction process.
1. An optimization processor-implemented method for enabling Periodic Auction Reset Securities (PARS) position maintenance, comprising:
receiving, at an optimization processor, an account maintenance request for an at least one PARS account;
querying at least one account profile database based on the received account maintenance request to identify at least one account profile associated with the at least one PARS account;
retrieving the identified at least one account profile from the at least one account profile database;
analyzing, on the optimization processor, the retrieved account profile to identify at least one account optimization rule that is applicable to the at least one PARS account;
determining, on the optimization processor, whether a violation of the at least one account optimization rule exists in the account profile;
creating an exception in the account profile if the optimization processor determines a violation of the at least one account optimization rule exists in the account profile;
determining at least one action type that can resolve the exception;
executing at least one action corresponding to the at least one action type to resolve the exception; and
updating the account profile.
2. The optimization processor-implemented method of claim 1 , wherein the account profile includes an indication of products allowed in the account.
3. The optimization processor-implemented method of claim 1 , wherein the account profile includes an indication of products excluded from the account.
4. The optimization processor-implemented method of claim 1 , wherein the account profile includes an indication of allocation requirements for the account.
5. The optimization processor-implemented method of claim 1 , wherein the at least one applicable account optimization rule is an account validation rule.
6. The optimization processor-implemented method of claim 1 , wherein the at least one applicable account optimization rule is an action validation rule.
7. The optimization processor-implemented method of claim 1 , wherein the at least one action type is a settlement type and the corresponding at least one action is settlement.
8. The optimization processor-implemented method of claim 1 , wherein the at least one applicable account optimization rule includes an associated score.
9. The optimization processor-implemented method of claim 8 , wherein a created exception has an associated severity and the severity of the exception corresponds to the score associated with the at least one optimization rule violated.
10. The optimization processor-implemented method of claim 8 wherein the determination and identification of the at least one action type is based on minimizing a total score of exceptions in the account profile.
11. The optimization processor-implemented method of claim 1 , wherein the at least one action is an inventory buy action.
12. The optimization processor-implemented method of claim 1 , wherein the at least one action is an inventory swap action.
13. The optimization processor-implemented method of claim 1 , wherein the at least one action is a cross action.
14. The optimization processor-implemented method of claim 1 , wherein the at least one action is a client swap action.
15. The optimization processor-implemented method of claim 1 , wherein the at least one action is an auction action.
16. The optimization processor-implemented method of claim 15 , wherein the auction action is a bid potential order.
17. The optimization processor-implemented method of claim 15 , wherein the auction action is a sell auction order.
18. A Periodic Auction Reset Securities (PARS) position maintenance apparatus, comprising:
a processor;
a memory in communication with the processor and containing program modules executable by the processor, wherein the program modules, when executed by the processor, cause the processor to:
receive an account maintenance request over a network for an at least one PARS account;
query at least one account profile database based on the received account maintenance request to identify at least one account profile associated with the at least one PARS account;
retrieve the identified at least one account profile from the at least one account profile database,
analyze the retrieved account profile to identify at least one account optimization rule that is applicable to the at least one PARS account;
determine whether a violation of the at least one account optimization rule exists in the account profile;
create an exception in the account profile if a violation of the at least one account optimization rule exists in the account profile,
determine an at least one action type that can resolve the exception;
execute at least one action corresponding to the at least one action type to resolve the exception; and
update the account profile.
19. A Periodic Auction Reset Securities (PARS) position maintenance system, comprising:
means for receiving an account maintenance request over a network for an at least one PARS account;
means for querying at least one account profile database based on the received account maintenance request to identify at least one account profile associated with the at least one PARS account;
means for retrieving the identified at least one account profile from the at least one account profile database,
means for analyzing the retrieved account profile to identify an at least one account optimization rule that is applicable to the at least one PARS account;
means for determining whether a violation of the at least one account optimization rule exists in the account profile;
means for creating an exception in the account profile if a violation of the at least one account optimization rule exists in the account profile;
means for determining an at least one action type that can resolve the exception;
means for executing at least one action corresponding to the at least one action type to resolve the exception; and
means for updating the account profile.