Persistent Secure Channel Setup for Trading Desks
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Solution Overview
Problem
Financial institutions face high costs and inefficiencies in setting up direct, secure communication connections between trading desks over traditional networks, which are time-consuming and expensive to maintain.
Innovation Solution
A system that enables the creation of persistent, secure communication channels between groups of users over a packet-switched network by identifying and inviting matching groups, using customer premises equipment and a server to establish encrypted voice, video, and text connections.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If direct connections over PSTN or legacy TDM networks are used, then secure access between trading desks is achieved, but setup time and cost increase significantly
Solution Approach 1:
The patent introduces a server as an intermediary that automatically sets up and manages communication channels between customer premises equipment. This server mediates the connection process, eliminating the need for manual setup while maintaining security through controlled channel establishment. The server acts as a mediator that coordinates between multiple trading desks, enabling rapid connection setup without compromising secure access.
Solution Approach 2:
The patent replaces the manual mechanical process of setting up direct connections with an automated software-based system. Instead of physically configuring network connections or manually establishing TDM circuits, the system uses computer-executable instructions to automatically provision communication channels. This substitution of manual operations with automated software processes dramatically reduces setup time while maintaining security requirements.
2Reliability
If direct connections over PSTN or legacy TDM networks are used, then secure access between trading desks is achieved, but maintenance cost increases significantly
Solution Approach 1:
The server intermediary centralizes the management of communication channels, eliminating the need for individual maintenance of each direct connection. By consolidating control and management functions in a single server, the system reduces the overall maintenance burden and associated costs while continuing to provide secure access between trading desks.
Solution Approach 2:
The server provides multiple functions including connection setup, channel management, and security control in a single system. This multi-functionality consolidates what would otherwise require multiple separate systems or manual processes, reducing overall maintenance requirements and costs while maintaining secure access capabilities.
3Reliability
If manual setup of direct connections is performed, then secure communication channels are established, but operational complexity increases
Solution Approach 1:
The patent replaces complex manual configuration procedures with automated software execution. The server system automatically handles connection provisioning, channel establishment, and management tasks that would otherwise require complex manual operations. This automation maintains secure communication channels while dramatically simplifying operational complexity.
Solution Approach 2:
The system enables self-service connection establishment where the server automatically provisions and manages communication channels without requiring manual intervention. The automated system performs setup and management tasks independently, reducing operational complexity while ensuring secure channel establishment through controlled automated processes.
Data Source
AI summary
Systems and methods are provided for setting up persistent, secure communication channels between remote groups of individuals over an unreliable network such as a packet switched or frame relay network. A group, which could be an individual, searches for another group, which could be an individual, through a hierarchical search structure. When the search results in a group that the searching group wants to communicate with, the searching group sends an invitation to the identified group and when the invitation is accepted a persistent communication channel is configured between the two groups.