Patent Number: 7,827,064

Title: Data processing system for pricing, costing and billing of financial transactions

Abstract: The present invention provides methods and systems for pricing financial transactions by defining product rules, providing links to appropriate price tables, and calculating a price for a financial transaction. A data processing system in accordance with one embodiment of the present invention, creates a product rule corresponding to a financial transaction. The product rule contains mandatory attributes and optional attributes. Optional attributes may be looked up using identifiers constructed from said mandatory attributes. Optional attributes include a link to a price table which contains further attributes, including a pricing method. A price is then calculated in accordance with the pricing method. Billing is completed according to the billing method for the particular financial transaction.

Inventors: Foster; Robert A. (Jersey City, NJ)

Assignee: Financial Systems Technology (Intellectual Property) Pty. Ltd.

International Classification: G06Q 20/00 (20060101); G06Q 40/00 (20060101)

Expiration Date: 2019-11-02 0:00:00