Ticker Symbol Lookup System for Investment List Accuracy
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Solution Overview
Problem
Investors face difficulties in accurately completing investment lists for financial services, particularly when they know company names but not the corresponding ticker symbols, leading to inefficiencies and inaccuracies, especially with mutual funds and pink sheet securities.
Innovation Solution
A system and method for robust ticker symbol lookup that allows users to input either ticker symbols or company names, with a computer system searching databases to match inputs and efficiently add the matching ticker symbols or names to a linked investment list, providing multiple candidate investments when exact matches are not found.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If investors manually enter ticker symbols for each company or mutual fund, then investment lists can be completed, but the process becomes time-consuming and error-prone when investors know company names but not ticker symbols
Solution Approach 1:
The patent introduces an intermediary lookup tool that mediates between the investor's knowledge (company names) and the required data format (ticker symbols). The tool accepts company names as input, searches a database to match them with corresponding ticker symbols, and returns the accurate symbols for list population, thereby eliminating manual entry errors and saving time.
Solution Approach 2:
The system enables self-service by automatically performing the lookup function that would otherwise require manual effort from the investor. The automated lookup tool searches databases and populates ticker symbols without investor intervention, making the process both faster and more accurate.
2Adaptability or versatility
If a traditional ticker symbol lookup tool is provided, then investors can find ticker symbols, but the tool requires exact ticker symbol input and does not support searches by company name or mutual fund name
Solution Approach 1:
The patent makes the lookup tool universal by enabling it to accept multiple types of input (ticker symbols, company names, mutual fund names) and perform different search operations accordingly. The system determines the investment type based on the input format and executes the appropriate search, making the tool adaptable to various investor needs without requiring separate tools for different search methods.
Solution Approach 2:
The system dynamically adjusts its behavior based on the input received. It determines whether the input is a ticker symbol or a name, selects the appropriate search method, and adapts the lookup process accordingly. This dynamic response makes the tool easier to operate as investors don't need to know the exact input format required.
3Reliability
If the lookup tool returns multiple candidate securities, then comprehensive results are provided, but investors must manually review and select the correct security
Solution Approach 1:
The system provides feedback to investors by returning multiple candidate securities with their details (ticker symbols, names, exchange information). This feedback allows investors to verify the correct security and select it confidently. The structured presentation of candidates with relevant information helps investors make accurate selections while minimizing the time required for review.
4Measurement precision
If investors enter ticker symbols for pink sheet securities, then the data can be recorded, but many investors do not know the ticker symbols for these less common securities
Solution Approach 1:
The lookup tool serves as an intermediary that bridges the gap between investors' limited knowledge of pink sheet ticker symbols and the requirement for accurate symbol entry. By accepting company names as input and automatically retrieving the corresponding ticker symbols from the database, the tool eliminates the difficulty of remembering or finding obscure pink sheet symbols while ensuring accurate data entry.
Data Source
AI summary
System and method for populating a list with at least one investment vehicle ticker descriptor. A system and method are presented for robustly looking up a ticker symbol for investment vehicle and efficiently adding the ticker symbol to a linked investment list.