Local Remote System Trade Settlement Synchronization
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Solution Overview
Problem
Synchronizing communications between disparate computer systems located in different geographical regions with varying systemic, structural, or regulatory requirements is challenging, particularly in cross-border trades where data requirements and time zones differ, leading to issues like incomplete identity information not meeting foreign market standards.
Innovation Solution
A system and process that connect a local computer system to a remote computer system via a network, using account and node identifiers to facilitate communication, synchronization, and settlement of trades across different domains, ensuring interoperability and data integrity despite differing regulations and time zones.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If a single account identifier is used to communicate with the remote computer system, then communication efficiency is improved, but the ability to identify specific local nodes is lost
Solution Approach 1:
The patent segments the identification system into two distinct components: a single account identifier for remote system communication and multiple local node identifiers for internal node identification. This segmentation allows the system to maintain efficiency in remote communication while preserving the ability to identify specific local nodes through the separate local node identifier field.
2Loss of information
If separate accounts are used for each local node, then node identification is maintained, but communication complexity increases
Solution Approach 1:
The patent introduces an intermediary mapping mechanism that translates between the simplified single account identifier used for remote communication and the detailed local node identifiers. This intermediary layer acts as a mediator, allowing the remote system to communicate efficiently using a single account while the local system maintains detailed node identification through the mapping relationship.
3Reliability
If data is synchronized in real-time across time zones, then data consistency is improved, but operational delays increase
Solution Approach 1:
The patent implements preliminary action by pre-synchronizing transaction data during off-peak hours or in advance of actual trading operations. Transaction data is prepared and synchronized beforehand, allowing the system to maintain data consistency across time zones without causing real-time operational delays during active trading periods.
Data Source
AI summary
A local computer system connects to a remote computer system of a remote component of FMI. The local computer system stores an account identifier of a single account at the remote component of financial market infrastructure (FMI). The local computer system communicates with the remote computer system using the account identifier to clear and settle trades with the remote component of FMI. The local computer system stores local node identifiers for local nodes. The local computer system communicates with each local node using a local node identifier. The local computer system communicates local transaction data with local nodes with reference to the local node identifiers. The local computer system communicates remote transaction data with the remote computer system with reference to local node identifiers and the account identifier of the single account. The local computer system synchronizes the local transaction data with the remote transaction data.