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Electronic multiparty accounts receivable and accounts payable system

The invention concerns a multiparty accounts receivable and accounts payable system that allows business trading partners to use a single, shared system for both accounts receivable and accounts payable management. The system of the invention forms an electronic “bridge” between a plurality of business trading partners for purposes of invoicing, dispute resolution, financing, and settlement of single and multiple currency debts. As the invoicing and settlement activities of the participants are funneled through a common system, the system allows a participant to aggregate all debts owed to other participants, aggregate all debts owed by the other participants, and net debts owed to other participants with debts owed by these participants. After aggregation and netting, the participant issues a single payment to settle numerous accounts payable items, and receives a single payment that settles numerous accounts receivable items. The system allows participants to use the substantial amount of financial and cash flow information captured by the system to borrow more efficiently by permitting lenders to view this information. Furthermore, the system provides a confirmation process to convert existing debt obligations into a new, independent payment obligation due on a date certain and free of any defenses to the underlying contract. The confirmed debt obligations provide a better source of working capital for the participants, or can be converted into electronic promissory notes. The system provides an electronic exchange for electronic promissory notes, allowing participants to raise working capital in various ways, for example, by selling them.
Owner:JPMORGAN CHASE BANK NA

Solid catalyst component for polymerization of olefins, catalyst comprising the same and use thereof

The present invention provides a solid catalyst component for the polymerization of olefins, comprising magnesium, titanium, a halogen and an electron donor, wherein said electron donor comprises at least one selected from the group consisting of ester of polyol of the formula (I):R1CO—O—CR3R4—A—CR5R6—O—CO—R2  (I)wherein, R1 and R2 groups, which may be identical or different, can be substituted or unsubstituted hydrocarbyl having 1 to 20 carbon atoms, R3-R6 groups, which may be identical or different, can be selected from the group consisting of hydrogen, halogen or substituted or unsubstituted hydrocarbyl having 1 to 20 carbon atoms, R1-R6 groups optionally contain one or more hetero-atoms replacing carbon, hydrogen atom or the both, said hetero-atom is selected from the group consisting of nitrogen, oxygen, sulfur, silicon, phosphorus and halogen atom, two or more of R3-R6 groups can be linked to form saturated or unsaturated monocyclic or polycyclic ring A is a single bond or bivalent linking group with chain length between two free radicals being 1-10 atoms, wherein said bivalent linking group is selected from the group consisting of aliphatic, alicyclic and aromatic bivalent radicals, and can carry C1-C20 linear or branched substituents one or more of carbon atom and / or hydrogen atom on above-mentioned bivalent linking group and substituents can be replaced by a hetero-atom selected from the group consisting of nitrogen, oxygen, sulfur, silicon, phosphorus, and halogen atom, and two or more said substituents on the linking group as well as above-mentioned R3-R6 groups can be linked to form saturated or unsaturated monocyclic or polycyclic ring.
Owner:CHINA PETROCHEMICAL CORP +1

Centralized electronic currency trading exchange

The invention is a system, method and computer software application for electronic currency trading exchange. It creates a centralized electronic marketplace for currency trading in which a central processing server automatically matches buy and sell orders for a plurality of currency pairs, and where trades registration, clearing and settlement are centrally performed. The invention further provides a method of presentation of foreign exchange currency buy/sell orders and executed trades data displayed by means of graphical user interfaces for showing buy/sell orders prices for all price levels and executed trades prices and volumes. Government central banks, commercial banks and selected brokers-dealers worldwide will participate in trading as Exchange Members of the trading exchange thus enabling them to trade with each other on one centralized currency trading marketplace. Other brokers-dealers and individual traders will trade on the exchange by establishing business relations and signing special agreements with Exchange Members. Exchange Members and other exchange traders will receive a computer software application with an Orders graphic user interface for sending buy and sell orders to the disclosed system. Trades will be created by matching the orders, they will be registered on the on the system's central processing server and then will be transferred for clearing and settlement. Trades details will be disseminated to Exchange Members and then further to their clients and correspondents.
Owner:MAKOR ISSUES & RIGHTS

Solid catalyst component for polymerization of olefins, catalyst comprising the same and use thereof

The present invention provides a solid catalyst component for the polymerization of olefins, comprising magnesium, titanium, a halogen and an electron donor, wherein said electron donor comprises at least one selected from the group consisting of polyol ester compounds of the formula (I): R1CO—O—CR3R4-A-CR5R6—O—CO—R2 (I) wherein, R1 and R2 groups, which may be identical or different, can be substituted or unsubstituted hydrocarbyl having 1 to 20 carbon atoms, R3-R6 groups, which may be identical or different, can be selected from the group consisting of hydrogen, halogen or substituted or unsubstituted hydrocarbyl having 1 to 20 carbon atoms, R1-R6 groups optionally contain one or more hetero-atoms replacing carbon, hydrogen atom or the both, said hetero-atom is selected from the group consisting of nitrogen, oxygen, sulfur, silicon, phosphorus and halogen atom, two or more of R3-R6 groups can be linked to form saturated or unsaturated monocyclic or polycyclic ring; A is a single bond or bivalent linking group with chain length between two free radicals being 1-10 atoms, wherein said bivalent linking group is selected from the group consisting of aliphatic, alicyclic and aromatic bivalent radicals, and can carry C1-C20 linear or branched substituents; one or more of carbon atom and/or hydrogen atom on above-mentioned bivalent linking group and substituents can be replaced by a hetero-atom selected from the group consisting of nitrogen, oxygen, sulfur, silicon, phosphorus, and halogen atom, and two or more said substituents on the linking group as well as above-mentioned R3-R6 groups can be linked to form saturated or unsaturated monocyclic or polycyclic ring.
Owner:CHINA PETROCHEMICAL CORP +1
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