US6721715B2
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method and apparatus for localizing currency valuation independent of the original and objective currencies
Assignee: Individual
•
Filing: 1998-12-21
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Granted: 2004-04-13
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Expires: 2018-12-21
Abstract
Abstract The present invention is a currency translation system that provides for the dynamic translation of a first currency value into a target currency value for the purpose of aiding localization and globalization of financial transactions. The system may be used as a standalone translation system or it may be embedded in a larger application such as a financial analysis program, a spreadsheet, a compound or object-loaded document, dynamic Web pages and other dynamically-generated content, databases or stored procedures, or a Web commerce program. The system takes as input the starting currency, a target currency, and transaction rules. The system maintains a database of currency rates, currency histories, conversion rules and currency representation data. Optimization and backtracking techniques are used to deal with partial rate information and in order to find optimal valuations involving a chain of currency translations. The system can produce a single result or a matrix of results from which the user can choose an optimal valuation. The system also provides for the formatting of a numerical currency value into a presentation specific to the locale of the translation request.
Inventors
- 👤 Martin A. Nemzow
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-03 04:13
CPC Classifications
G; G06; G06Q; G06Q40/00; G06Q40/02; G06Q20/00; G06Q20/08; G06Q20/10; G06Q20/105
Claims Analysis
Total Claims: 21
Claim 1
Independent Claim
184 words
A system for translating a first currency value to a second currency value, comprising: at least one input component capable of providing a first currency value, a target currency value, and transaction rules; at least one database capable of storing conversion rules; at least one processor; at least one computer usable medium having computer readable code embodied therein, the computer readable code being capable of causing the at least one processor to: apply optimization methods to maximize a yield of a conversion, said optimization producing customized conversion rules between any two currency values for application at each successive conversion; and, apply said customized conversion rules at each said successive conversion step in a series of translation transactions until an optimized value of said target currency is obtained; the application of optimization methods being capable of causing the at least one processor to resolve conversion issues including differences between bid and ask prices, historical spreads, delayed spreads, future spreads, interest laden spreads, spot quotes, swaps, future contracts, and remittances during the conversion process; the optimized value being a largest numerical amount obtained from currency translation.
Claim 2
Independent Claim
184 words
A system for translating a first currency value to a second currency value, comprising: at least one input component capable of providing a first currency value, a target currency value, and transaction rules; at least one database capable of storing conversion rules; at least one processor; at least one computer usable medium having computer readable code embodied therein, the computer readable code being capable of causing the at least one processor to: apply optimization methods to maximize a yield of a conversion, said optimization producing customized conversion rules between any two currency values for application at each successive conversion; and, apply said customized conversion rules at each said successive conversion step in a series of translation transactions until an optimized value of said target currency is obtained; the application of optimization methods being capable of causing the at least one processor to resolve conversion issues including differences between bid and ask prices, historical spreads, delayed spreads, future spreads, interest laden spreads, spot quotes, swaps, future contracts, and remittances during the conversion process; the optimized value being a largest numerical amount obtained from currency translation.
Claim 3
Dependent Claim
96 words
The system of claim 1 wherein the computer readable code is further capable of causing the at least one processor to: provide intermediate objective currency values; and, apply the optimization methods to estimate information in order to resolve partial information; the estimation of information being capable of causing the at least one processor to resolve partial information, the partial information including missing a bid valuation between an original currency and a target currency, an ask valuation between an original currency and a target currency, and a close valuation between an original currency and a target currency.
Claim 4
Dependent Claim
16 words
The system of claim 1 wherein said database is also capable of storing historical rate data.
Claim 5
Dependent Claim
35 words
The system of claim 3 wherein the computer readable code is further capable of causing the at least one processor to: apply backtracking techniques to use historical rate data when up-to-date data is not available.
Claim 6
Dependent Claim
158 words
In a computer, a method for translating a first currency value to a second currency value along an optimized translation path, comprising the steps of: providing a first currency value; providing a target currency value; providing transaction rules; providing conversion rules to be applied to the first currency value and subsequent intermediate currency values; applying optimization methods to maximize a yield of a conversion, said optimization producing customized conversion rules between any two currency values for application at each successive conversion; and, applying said customized conversion rules at each said successive conversion step in a series of translation transactions until an optimized value of said target currency is obtained; the application of optimization methods enabling resolution of conversion issues including differences between bid and ask prices, historical spreads, delayed spreads, future spreads, interest laden spreads, spot quotes, swaps, future contracts, and remittances during the conversion process; the optimized value being a largest numerical amount obtained from currency translation.
Claim 7
Dependent Claim
158 words
In a computer, a method for translating a first currency value to a second currency value along an optimized translation path, comprising the steps of: providing a first currency value; providing a target currency value; providing transaction rules; providing conversion rules to be applied to the first currency value and subsequent intermediate currency values; applying optimization methods to maximize a yield of a conversion, said optimization producing customized conversion rules between any two currency values for application at each successive conversion; and, applying said customized conversion rules at each said successive conversion step in a series of translation transactions until an optimized value of said target currency is obtained; the application of optimization methods enabling resolution of conversion issues including differences between bid and ask prices, historical spreads, delayed spreads, future spreads, interest laden spreads, spot quotes, swaps, future contracts, and remittances during the conversion process; the optimized value being a largest numerical amount obtained from currency translation.
Claim 8
Dependent Claim
13 words
The method of claim 5 wherein the conversion rules include currency rate information.
Claim 9
Dependent Claim
29 words
The method of claim 5 wherein the conversion rules comprise historical currency exchange rate information, whereby a past first currency value is converted to a past target currency value.
Claim 10
Dependent Claim
35 words
The method of claim 5 wherein the conversion rules comprise projected currency exchange rate information, whereby the projected currency exchange rate information enables converting a projected first currency value to a projected target currency value.
Claim 11
Dependent Claim
12 words
The method of claim 5 wherein the conversion rules include user-specified rules.
Claim 12
Dependent Claim
16 words
The method of claim 5 wherein customizing the conversion rules further includes reconciling currency price differences.
Claim 13
Dependent Claim
18 words
The method of claim 5 wherein customizing the conversion rules further includes reconciling triangulation discrepancies and rounding differences.
Claim 14
Dependent Claim
84 words
The method of claim 5 further comprising the step of: providing intermediate objective currency values; and, wherein the step of applying optimization methods further includes the step of: estimating information in order to resolve partial information; the estimation of information enabling resolution of partial information, the partial information including missing a bid valuation between an original currency and a target currency, an ask valuation between an original currency and a target currency, and a close valuation between an original currency and a target currency.
Claim 15
Dependent Claim
18 words
The method of claim 12 further comprising the step of: applying backtracking techniques in obtaining said optimized value.
Claim 16
Dependent Claim
21 words
The method of claim 5 further comprising: backtracking currency histories to use historical rate data when up-to-date data is not available.
Claim 17
Dependent Claim
20 words
The method of claim 5 wherein said transaction rules further comprise a currency description associated with said first currency value.
Claim 18
Dependent Claim
20 words
The method of claim 15 wherein said currency description further comprises a code, a code number and a currency symbol.
Claim 19
Dependent Claim
20 words
The method of claim 5 wherein said transaction rules further comprise a currency description associated with said target currency value.
Claim 20
Dependent Claim
20 words
The method of claim 17 wherein said currency description further comprises a code a code number and a currency symbol.
Claim 21
Dependent Claim
21 words
The method of claim 5 wherein the step of providing conversion rules further comprises providing exchange rates via a data feed.
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2007-04-13 | 2007-10-13 | 2008-04-13 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2011-04-13 | 2011-10-13 | 2012-04-13 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2015-04-13 | 2015-10-13 | 2016-04-13 | $7700.00 | Window Closed / Lapsed |