Arthur T Thomas

US Patent:

59787791, Nov 2, 1999

Filed:

Nov 14, 1997

Appl. No.:

8/970483

Inventors:

Derek N. Stein - Larchmont NY
Arthur L. Thomas - Saddle River NJ
Mark Alexander - Montvale NJ

Assignee:

Merrill Lynch, Pierce, Fenner & Smith - New York NY

International Classification:

G06F 1760

US Classification:

705 37

Abstract:

The invention provides a system and device for integrating and structuring the relationships of a financial services provider (FSP) with its clients and with third parties (counterparties) with which the FSP transacts business. Preferably, each entity with which the FSP transacts business, preferably also including entities internal to the FSP, is assigned a unique, non-intelligent identifier (CCID), and a relationship is established between each identifier and at least on other entity likewise identified. The system allows the FSP's users to seamlessly access information and transact business with all entities regardless of whether such entities are clients or third party providers (such as money managers). The system can be implemented on a network system. The system preferably also includes a library by which documents required for a particular transaction or account are associated with the entity(ies) engaging in such transaction or for which the account is generated, and also preferably a tracking system for assuring that required documents are forwarded when necessary and executed and returned as required.