Abstract

An automated trade processing system comprising at least one record keeping system which receives participant mutual fund transactions. The record keeping system aggregates the participant mutual fund transactions into omnibus plan trades which it transmits to a host processor. The host processor also receives pricing and other trade information from at least one transfer agent system. Based on the pricing and other trade information, the host processor evaluates the omnibus plan trades and produces a trade-acknowledgment confirmation file which it transmits along with omnibus plan account information to the at least one record keeping systems. The host processor then transmits the omnibus plan trades to the proper transfer agent. The transfer agent executes the omnibus plan trades and trade-execution confirms them to the host processor. The host processor compares the trade-acknowledgement confirmation and the trade-execution confirmation and generates a mismatch file which is then transmitted to the at least one record keeping systems. This cycle occurs in less than a day and enables the record keeping system to perform daily valuation of all participant accounts in its various plans.

Other References

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