Message-Based Interface for Financial Instrument Data
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Solution Overview
Problem
Current interfaces for exchanging business information across different business entities are inconsistent and require human interaction due to semantic differences and varying formatting standards, making it difficult for heterogeneous systems to communicate effectively.
Innovation Solution
A message-based interface system that utilizes a business object model to generate consistent interfaces, allowing for the creation and transmission of analytical results for financial instruments, which are logically centralized and semantically disjointed, enabling communication between heterogeneous applications.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If heterogeneous business entities use their own programs with different semantics and formatting standards, then each business entity can handle its specific business logic independently, but information exchange between different business entities becomes complex and requires human interaction
Solution Approach 1:
The patent introduces a message-based interface as an intermediary layer between heterogeneous business entities. This interface acts as a mediator that translates between different business entity semantics and formatting standards, enabling automated information exchange without requiring human intervention while preserving each entity's independence in handling its own business logic
Solution Approach 2:
The patent transforms the information exchange parameters by establishing a standardized message format with consistent semantics. By changing the parameter space from entity-specific formats to a universal message interface, the system reduces information exchange complexity while maintaining adaptability to different business entities
2Extent of automation
If standardized interfaces are implemented for information exchange, then automated communication between business entities is enabled, but the interfaces may not accommodate all specific business logic requirements of different entities
Solution Approach 1:
The patent segments the business object model into distinct components that can be independently configured. This segmentation allows the standardized message interface to accommodate different business logic requirements by selectively configuring which components are included in the message, thus maintaining both automation and adaptability
Solution Approach 2:
The message-based interface is designed to be dynamic rather than static. It can adapt its structure and content based on the specific business entities communicating, allowing automated communication while accommodating varying business logic requirements through flexible message configuration
3Reliability
If human interaction is used to facilitate transactions between heterogeneous programs, then semantic differences and formatting issues can be manually resolved, but transaction processing time and operational cost increase
Solution Approach 1:
The standardized message-based interface enables systems to perform self-service by automatically resolving semantic differences and formatting issues through built-in translation and mapping mechanisms. This eliminates the need for human intervention in transaction processing, maintaining high accuracy while significantly reducing processing time
Data Source
AI summary
A business object model, which reflects data that is used during a given business transaction, is utilized to generate interfaces. This business object model facilitates commercial transactions by providing consistent interfaces that are suitable for use across industries, across businesses, and across different departments within a business during a business transaction. In some operations, software creates, updates, or otherwise processes information related to a financial instrument position accounting period total analytical result, a financial instrument position accounting valuation analytical result, a financial instrument position accrual analytical result, a financial instrument position fair value analytical result, and/or a financial instrument position period average volume analytical result business object.