WO2010021599A1 - Method of transmitting financial instrument alerts through sms - Google Patents

Method of transmitting financial instrument alerts through sms Download PDF

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Publication number
WO2010021599A1
WO2010021599A1 PCT/SG2009/000290 SG2009000290W WO2010021599A1 WO 2010021599 A1 WO2010021599 A1 WO 2010021599A1 SG 2009000290 W SG2009000290 W SG 2009000290W WO 2010021599 A1 WO2010021599 A1 WO 2010021599A1
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WO
WIPO (PCT)
Prior art keywords
financial instrument
price
alert
push module
change
Prior art date
Application number
PCT/SG2009/000290
Other languages
French (fr)
Inventor
Hock Aik Ng
Original Assignee
Mobile Global Markets Pte Ltd (Sg)
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Mobile Global Markets Pte Ltd (Sg) filed Critical Mobile Global Markets Pte Ltd (Sg)
Publication of WO2010021599A1 publication Critical patent/WO2010021599A1/en

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/06—Asset management; Financial planning or analysis

Definitions

  • This invention relates to a method of transmitting alerts based on changes in the financial instrument parameters to mobile subscribers through SMS.
  • SMS standing for Short Messaging Service, have been beneficially exploited the world over as a popular means of communication between people. SMS is also being widely used as a means for sending commercial information.
  • the objective of the present invention is to solve the above problem by transmitting the changes in the parameters of financial instruments to the subscribers without any time delay.
  • One aspect of the invention is a method of transmitting alerts to a subscriber based on at least one change in at least one financial instrument parameter, by means of a system comprising at least one aggregator, at least one database, at least one alert engine and at least one push module, comprising extracting the relevant financial instrument parameter from at least one source provider using the aggregator, modifying a format of the financial instrument parameter by the aggregator suitable to be stored in the database, feeding the format modified financial instrument parameter into the database using the aggregator, enabling access to the modified format financial instrument parameter in the database by the alert engine, storing at least one threshold value in the alert engine that the subscriber is interested in basing the alert on, preparing the alert by the alert engine by way of including at least one financial instrument parameter which has changed by the threshold value, transferring the alert by the alert engine to the push module, and transmitting the alert to the subscriber by the push module.
  • a second aspect of the invention is a system for transmitting alerts to a subscriber based on at least one change in at least one financial instrument parameter, the system comprising at least one source provider, at least one aggregator linked to the source provider for extracting the information having a format from the source provider and for modifying the format of the information, at least one database linked to the aggregator for storing the modified format information, at least one alert engine linked to the database for storing at least one threshold value that the subscriber is interested in basing the alert on, wherein the alert engine prepares the alert by including at least one financial instrument parameter which has changed by the threshold value, and at least one push module linked to the alert engine for transmitting the alert to the subscriber.
  • Fig 1 is a schematic illustrating the overall architecture of the invention in the form of a data transmission flow chart
  • the invention in the form of a system 1 comprises at least one aggregator 6.
  • the aggregator extracts financial instrument parameters from at least one source provider 2, the source provider not being part of the invention.
  • the source provider is the primary source of information to many information channels universally.
  • the source provider may be Thomson Reuters 2a, Singapore Exchange 2b, Bursa Malaysia 2c or a similar entity.
  • the aggregator communicates to the source provider through link 4, which can be a wireless or a wired link.
  • the aggregator modifies the format of the financial instrument parameters to be suitable to be stored in database 10.
  • the aggregator is connected to the database by link 8, which can be a wired or a wireless link.
  • the format-modified parameters are fed into the database by the aggregator through link 8.
  • the parameters are stored in the database.
  • a financial instrument may comprise a warrant or a commodity or a derivative or a bond or index or a combination of any of the above.
  • a financial instrument parameter may comprise a percentage change in terms of price, or absolute change in daily volume, or absolute change of price from previous day closing, or percentage change of price from previous day closing, or absolute change of price from the current week opening until today, or percentage change of price from current week opening until today, or absolute change of price from current month opening until today, or percentage change of price from current month opening until today, or suspension or resumption, or a combination thereof.
  • the database is connected to an alert engine 14 through link 12, which may be a wired or a wireless link.
  • the alert engine allows access to the financial instrument parameters in the database to be transmitted to the subscriber as will be more fully described hereinafter.
  • the alert engine stores the subscription details of the subscriber, along with at least one threshold value based on which the alerts are calculated.
  • the threshold value may be 0.5%, 1%, 2% or a similar value or may be 0.5$, 1$ or a similar value.
  • the threshold value can be a YES or NO. Subscribers can select different financial instruments or financial instrument parameters or threshold values depending on subscription plans.
  • the alert engine prepares the alert to the subscriber by way of determining at least one financial instrument parameter whose change is beyond the threshold value selected by the subscriber and including all the determined financial instrument parameters in a list.
  • the alert is then transferred to a push module 18 through a link 16.
  • the push module further transmits the alert to a subscriber's communication network 20, which ultimately reaches the subscriber.
  • the subscriber is now able to immediately see the alert and act on the same, thereby overcoming any delay factor that would put the subscriber in a disadvantageous position.
  • the push module may be a BlackBerry push module 18a, or an SMS push module 18b, or an email push module 18c or a combination thereof.
  • the subscriber's communication network may be a BlackBerry enterprise server 20a, or a mobile network 20b, or an email server 20c.

Abstract

A method and a system of transmitting alerts to a subscriber through SMS based on changes to at least one parameter of at least one financial instrument, the system comprising at least one source provider, at least one aggregator, at least one database, at least one alert engine and at least one push module and the method primarily involving preparing the alert by way of including the parameter which has changed by at least one threshold value selected by the subscriber in the subscription plan.

Description

METHOD OF TRANSMITTING FINANCIAL INSTRUMENT
ALERTS THROUGH SMS
FIELD OF THE INVENTION
This invention relates to a method of transmitting alerts based on changes in the financial instrument parameters to mobile subscribers through SMS.
BACKGROUND OF THE INVENTION
SMS, standing for Short Messaging Service, have been beneficially exploited the world over as a popular means of communication between people. SMS is also being widely used as a means for sending commercial information.
Receiving information on the changes in the parameters of financial instruments like stocks, warrants, commodities, derivatives, bonds and indexes has been of substantial importance to investors and brokers alike. It is especially important to receive the information as soon as it occurs without any delay, in order to enable investors to act quickly. Currently, this information can be accessed only through specific web sites. People who are always on the move do not have the luxury of accessing the information through the internet as and when needed. The problem is that a delay factor is introduced in this situation and that they cannot have the advantage of enjoying real time information.
The objective of the present invention is to solve the above problem by transmitting the changes in the parameters of financial instruments to the subscribers without any time delay. SUMMARY
One aspect of the invention is a method of transmitting alerts to a subscriber based on at least one change in at least one financial instrument parameter, by means of a system comprising at least one aggregator, at least one database, at least one alert engine and at least one push module, comprising extracting the relevant financial instrument parameter from at least one source provider using the aggregator, modifying a format of the financial instrument parameter by the aggregator suitable to be stored in the database, feeding the format modified financial instrument parameter into the database using the aggregator, enabling access to the modified format financial instrument parameter in the database by the alert engine, storing at least one threshold value in the alert engine that the subscriber is interested in basing the alert on, preparing the alert by the alert engine by way of including at least one financial instrument parameter which has changed by the threshold value, transferring the alert by the alert engine to the push module, and transmitting the alert to the subscriber by the push module.
A second aspect of the invention is a system for transmitting alerts to a subscriber based on at least one change in at least one financial instrument parameter, the system comprising at least one source provider, at least one aggregator linked to the source provider for extracting the information having a format from the source provider and for modifying the format of the information, at least one database linked to the aggregator for storing the modified format information, at least one alert engine linked to the database for storing at least one threshold value that the subscriber is interested in basing the alert on, wherein the alert engine prepares the alert by including at least one financial instrument parameter which has changed by the threshold value, and at least one push module linked to the alert engine for transmitting the alert to the subscriber. BRIEF DESCRIPTION OF DRAWINGS
Fig 1 is a schematic illustrating the overall architecture of the invention in the form of a data transmission flow chart
DETAILED DESCRIPTION OF THE INVENTION
As illustrated in Fig 1, the invention, in the form of a system 1 comprises at least one aggregator 6. The aggregator extracts financial instrument parameters from at least one source provider 2, the source provider not being part of the invention. The source provider is the primary source of information to many information channels universally. For example, the source provider may be Thomson Reuters 2a, Singapore Exchange 2b, Bursa Malaysia 2c or a similar entity. The aggregator communicates to the source provider through link 4, which can be a wireless or a wired link. The aggregator modifies the format of the financial instrument parameters to be suitable to be stored in database 10. The aggregator is connected to the database by link 8, which can be a wired or a wireless link. The format-modified parameters are fed into the database by the aggregator through link 8. The parameters are stored in the database.
Preferably, a financial instrument may comprise a warrant or a commodity or a derivative or a bond or index or a combination of any of the above.
Preferably, a financial instrument parameter may comprise a percentage change in terms of price, or absolute change in daily volume, or absolute change of price from previous day closing, or percentage change of price from previous day closing, or absolute change of price from the current week opening until today, or percentage change of price from current week opening until today, or absolute change of price from current month opening until today, or percentage change of price from current month opening until today, or suspension or resumption, or a combination thereof.
The database is connected to an alert engine 14 through link 12, which may be a wired or a wireless link. The alert engine allows access to the financial instrument parameters in the database to be transmitted to the subscriber as will be more fully described hereinafter.
The alert engine stores the subscription details of the subscriber, along with at least one threshold value based on which the alerts are calculated. For example, the threshold value may be 0.5%, 1%, 2% or a similar value or may be 0.5$, 1$ or a similar value. In case of a financial instrument parameter such as suspension or resumption, the threshold value can be a YES or NO. Subscribers can select different financial instruments or financial instrument parameters or threshold values depending on subscription plans.
The alert engine prepares the alert to the subscriber by way of determining at least one financial instrument parameter whose change is beyond the threshold value selected by the subscriber and including all the determined financial instrument parameters in a list.
The alert is then transferred to a push module 18 through a link 16. The push module further transmits the alert to a subscriber's communication network 20, which ultimately reaches the subscriber. The subscriber is now able to immediately see the alert and act on the same, thereby overcoming any delay factor that would put the subscriber in a disadvantageous position.
Preferably, the push module may be a BlackBerry push module 18a, or an SMS push module 18b, or an email push module 18c or a combination thereof. Preferably, the subscriber's communication network may be a BlackBerry enterprise server 20a, or a mobile network 20b, or an email server 20c.
In light of the foregoing, it is apparent that the delay factor associated with the prior art is eliminated, as the alerts are sent immediately and directly to the subscriber, enabling the subscriber to act quickly on the alert received.
It is to be understood that the foregoing description of several preferred embodiments is intended to be purely illustrative of the principles of the invention, rather than exhaustive thereof, and that changes and variations will be apparent to those skilled in the art, and that the present invention is not intended to be limited other than as expressly set forth in the following claims.

Claims

1. A method of transmitting alerts to a subscriber based on at least one change in at least one financial instrument parameter, by means of a system comprising at least one aggregator, at least one database, at least one alert engine and at least one push module, the steps comprising:
(a) extracting the relevant financial instrument parameter from at least one source provider using the aggregator;
(b) modifying a format of the financial instrument parameter by the aggregator suitable to be stored in the database;
(c) feeding the format modified financial instrument parameter into the database using the aggregator;
(d) enabling access to the modified format financial instrument parameter in the database by the alert engine;
(e) storing at least one threshold value in the alert engine that the subscriber is interested in basing the alert on;
(f) preparing the alert by the alert engine by way of including at least one financial instrument parameter which has changed by the threshold value;
(g) transferring the alert by the alert engine to the push module; and (h) transmitting the alert to the subscriber by the push module.
2. A method as claimed in Claim 1 wherein the financial instrument comprises a warrant, or a commodity, or a derivative, or a bond, or an index, or a combination thereof.
3. A method as claimed in Claim 1 wherein the financial instrument parameter comprises a percentage change in terms of price, or an absolute change in daily volume, or an absolute change of price from the previous day closing, or a percentage change of price from the previous day closing, or an absolute change of price from the current week opening until today, or a percentage change of price from the current week opening until today, or an absolute change of price from the current month opening until today, or a percentage change of price from the current month opening until today, or suspension, or resumption, or a combination thereof.
4. A method as claimed in Claim 1 wherein the push module comprise a BlackBerry push module, or an SMS push module, or an email push module, or a combination thereof.
5. A system for transmitting alerts to a subscriber based on at least one change in at least one financial instrument parameter, the system comprising:
(a) at least one source provider;
(b) at least one aggregator linked to the source provider for extracting the information having a format from the source provider and for modifying the format of the information;
(c) at least one database linked to the aggregator for storing the modified format information;
(d) at least one alert engine linked to the database for storing at least one threshold value that the subscriber is interested in basing the alert on;
(e) wherein the alert engine prepares the alert by including at least one financial instrument parameter which has changed by the threshold value; and
(f) at least one push module linked to the alert engine for transmitting the alert to the subscriber.
6. A system as claimed in Claim 5 comprising:
(a) at least one financial instrument; and
(b) wherein the financial instrument comprises a warrant, or a commodity, or a derivative, or a bond, or an index, or a combination thereof.
7. A system as claimed in Claim 5 wherein the financial instrument parameter comprises a percentage change in terms of price, or an absolute change in daily volume, or an absolute change of price from the previous day closing, or a percentage change of price from the previous day closing, or an absolute change of price from the current week opening until today, or a percentage change of price from the current week opening until today, or an absolute change of price from the current month opening until today, or a percentage change of price from the current month opening until today, or suspension, or resumption, or a combination thereof.
8. A system as claimed in Claim 5 wherein the push module comprise a BlackBerry push module, or an SMS push module, or an email push module, or a combination thereof.
PCT/SG2009/000290 2008-08-22 2009-08-21 Method of transmitting financial instrument alerts through sms WO2010021599A1 (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
SG200806261-4 2008-08-22
SG200806261-4A SG159409A1 (en) 2008-08-22 2008-08-22 Method of transmitting financial instrument alerts through sms

Publications (1)

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WO2010021599A1 true WO2010021599A1 (en) 2010-02-25

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Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US10679198B2 (en) 2007-03-26 2020-06-09 Transform Sr Brands Llc System and method for handling an offer to purchase a followed item

Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
EP1146459A1 (en) * 2000-04-14 2001-10-17 Citicorp Development Center, Inc. Method and system for notifying customers of transaction opportunities
US6535855B1 (en) * 1997-12-09 2003-03-18 The Chase Manhattan Bank Push banking system and method
US20040162772A1 (en) * 1999-02-16 2004-08-19 Lewis Charles J. Financial data reporting system with alert notification feature and free-form searching capability
US20070288373A1 (en) * 2005-05-24 2007-12-13 Wilkes T Clay Transaction alert messages associated with financial transactions
US20080010203A1 (en) * 2004-09-13 2008-01-10 Grant David S Purchasing Alert Methods And Apparatus
US20080168370A1 (en) * 2007-01-08 2008-07-10 Infoexchange, Inc. Method and System for Providing Alerts to Clients Engaging in Security or Commodity Trading

Patent Citations (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6535855B1 (en) * 1997-12-09 2003-03-18 The Chase Manhattan Bank Push banking system and method
US20040162772A1 (en) * 1999-02-16 2004-08-19 Lewis Charles J. Financial data reporting system with alert notification feature and free-form searching capability
EP1146459A1 (en) * 2000-04-14 2001-10-17 Citicorp Development Center, Inc. Method and system for notifying customers of transaction opportunities
US20080010203A1 (en) * 2004-09-13 2008-01-10 Grant David S Purchasing Alert Methods And Apparatus
US20070288373A1 (en) * 2005-05-24 2007-12-13 Wilkes T Clay Transaction alert messages associated with financial transactions
US20080168370A1 (en) * 2007-01-08 2008-07-10 Infoexchange, Inc. Method and System for Providing Alerts to Clients Engaging in Security or Commodity Trading

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US10679198B2 (en) 2007-03-26 2020-06-09 Transform Sr Brands Llc System and method for handling an offer to purchase a followed item

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