U.S. patent application number 14/874202 was filed with the patent office on 2017-02-09 for systems and methods for automatically generating order data based on social media messaging.
This patent application is currently assigned to The Toronto-Dominion Bank. The applicant listed for this patent is The Toronto-Dominion Bank. Invention is credited to Jonathan K. BARNETI, Paul Mon-Wah CHAN, Orin DEL VECCHIO, Matthew HAMILTON, John Jong Suk LEE, Bruno SANDRE.
Application Number | 20170039645 14/874202 |
Document ID | / |
Family ID | 57966249 |
Filed Date | 2017-02-09 |
United States Patent
Application |
20170039645 |
Kind Code |
A1 |
SANDRE; Bruno ; et
al. |
February 9, 2017 |
SYSTEMS AND METHODS FOR AUTOMATICALLY GENERATING ORDER DATA BASED
ON SOCIAL MEDIA MESSAGING
Abstract
The disclosed embodiments include computerized methods and
systems that facilitate automate trade-order entry and execution
based on social media messaging. In an embodiment, an apparatus
identifies a first social media message associated with a social
networking account of a user and including at least one parameter
of a transaction to purchase or sell one or more securities. The
apparatus may generate proposed transaction parameters that include
the at least one transaction parameter included in the first social
media message, and may obtain information confirming the proposed
transaction parameters from the user. In response to the
confirmation, the apparatus may generate one or more electronic
commands to initiate the transaction to purchase or sell the one or
more securities in accordance with the confirmed transaction
parameters.
Inventors: |
SANDRE; Bruno; (Mississauga,
CA) ; HAMILTON; Matthew; (Toronto, CA) ;
BARNETI; Jonathan K.; (Oakville, CA) ; CHAN; Paul
Mon-Wah; (Markham, CA) ; LEE; John Jong Suk;
(Waterloo, CA) ; DEL VECCHIO; Orin; (Richmond
Hill, CA) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
The Toronto-Dominion Bank |
Mississauga |
|
CA |
|
|
Assignee: |
The Toronto-Dominion Bank
|
Family ID: |
57966249 |
Appl. No.: |
14/874202 |
Filed: |
October 2, 2015 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
|
|
62201392 |
Aug 5, 2015 |
|
|
|
Current U.S.
Class: |
1/1 |
Current CPC
Class: |
H04L 63/101 20130101;
H04L 63/126 20130101; G06Q 40/04 20130101; H04L 41/22 20130101;
G06Q 40/06 20130101; H04L 67/12 20130101; H04L 63/083 20130101;
H04L 51/32 20130101; H04L 67/306 20130101; H04L 63/102 20130101;
G06Q 50/01 20130101 |
International
Class: |
G06Q 40/04 20060101
G06Q040/04; G06Q 50/00 20060101 G06Q050/00; H04L 12/24 20060101
H04L012/24; H04L 29/08 20060101 H04L029/08; H04L 12/58 20060101
H04L012/58 |
Claims
1. An apparatus, comprising: at least one processor; and a memory
storing executable instructions that, when executed by the at least
one processor, causes the at least one processor to perform the
steps of: obtaining a first social-media message comprising a
retweet of a second social-media message, the first social-media
message being associated with a social-networking account of a user
and being generated by a device of the user; extracting, from the
first social media message, data identifying at least one parameter
of an action involving one or more securities; generating proposed
parameters for the action, the proposed parameters comprising the
at least one parameter extracted from the first social-media
message; receiving, from the user device, information confirming
the proposed parameters; and generating one or more electronic
commands to initiate the action involving the one or more
securities in accordance with the confirmed parameters.
2. The apparatus of claim 1, wherein: the first social media
message comprises at least one predetermined hashtag; and the
executed instructions further cause the at least one processor to
perform the steps of: receiving social-media data from at least one
social-networking server, the social-media data comprising a
plurality of candidate social media messages; detecting an
occurrence of the at least one predetermined hashtag within a
corresponding one of the candidate social-media messages; and
establishing the corresponding candidate social-media message as
the first social-media message.
3. The apparatus of claim 1, wherein: the action comprises a
transaction to at least one of purchase or sell the one or more
securities; and the at least one parameter comprises one or more
trade parameters; the proposed parameters comprise one or more
proposed trade parameters; and at least one of the trade parameters
or the proposed trade parameters comprises at least one of an
identifier of the one or more securities, a type of transaction, a
quantity of the one or more securities, a price type, a triggering
event initiating a transfer of a trade order to a market, a period
validity of the trade order, instructions associated with the
market, or an account associated with the trade order.
4. The apparatus of claim 3, wherein the executed instructions
further cause the at least one processor to perform the step of
transmitting, to the user device, information confirming an
execution of the transaction to purchase or sell the one or more
securities, the information causing the user device to present an
alert to the user that confirm the execution.
5. The apparatus of claim 1, wherein: the action comprises an
addition of the one or more securities to at least one of a virtual
portfolio held by the user or a watchlist associated with the user;
and the executed instructions further cause the at least one
processor to perform the steps of: accessing stored data associated
with the at least one of the virtual portfolio or the watchlist;
and modifying at least a portion of the stored data to include
information identifying the one or more securities.
6. The apparatus of claim 1, wherein: the first social media
message includes textual data, the textual data comprising the at
least one parameter; and the executed instructions further cause
the at least one processor to perform the step of parsing the
textual data to extract the at least one parameter from the first
social media message.
7. The apparatus of claim 1, wherein: the first social media
message includes graphical data; and the executed instructions
further cause the at least one processor to perform the step of
processing the graphical data to extract the at least one
transaction parameter from the first social media message.
8. The apparatus of claim 1, wherein the executed instructions
further cause the at least one processor to perform the steps of:
transmitting, to the user device, a first message comprising the
proposed parameters, the first message causing the user device to
present information identifying the proposed parameters to the user
through a corresponding interface; and in response to the
transmitted first message, receiving, from the user device, a
second message comprising the information confirming the proposed
parameters.
9. The apparatus of claim 1, wherein the executed instructions
further cause the at least one processor to perform the steps of:
determining that the at least one parameter includes at least a
predetermined set of parameters, the predetermined parameters
comprising at least one of names of the one or more securities,
symbols of the one or more securities, a transaction type, or
quantities of units of the one or more securities; and in response
to the determination, generating the proposed parameters based on
the social media message.
10. The apparatus of claim 9, wherein the executed instructions
further cause the at least one processor to perform the steps of:
determining that the at least one parameter fails to include the
predetermined set of parameters; in response to the determination,
identifying one or more of the predetermined parameters that are
absent from the at least one parameter; and transmitting, to the
user device, information requesting that the user provide the
absent ones of the predetermined parameters, the Information
causing the user device to present, to the user, an alert
identifying the absent ones of the predetermined parameters.
11. The apparatus of claim 1, wherein the second social media
message is generated by a device of an additional user, the
additional user being different from the user associated with the
social networking account.
12. A computer-implemented method, comprising: obtaining, by at
least one processor, a first social-media message comprising a
retweet of a second social-media message, the first social-media
message being associated with a social-networking account of a user
and being generated by a device of the user; extracting, by the at
least one processor, and from the first social media message, data
identifying at least one parameter of an action involving one or
more securities; generating, by the at least one processor,
proposed parameters for the action, the proposed parameters
comprising the at least one parameter extracted from the first
social-media message; receiving, by the at least one processor, and
from the user device, information confirming the proposed
parameters; and generating, by the at least one processor, one or
more electronic commands to initiate the action involving the one
or more securities in accordance with the confirmed parameters.
13. The method of claim 12, wherein: the first social media message
comprises at least one predetermined hashtag; and the obtaining
comprises: receiving social-media data from at least one
social-networking server, the social-media data comprising a
plurality of candidate social media messages; detecting an
occurrence of the at least one predetermined hashtag within a
corresponding one of the candidate social-media messages; and
establishing the corresponding candidate social-media message as
the first social-media message.
14. The method of claim 12, wherein: the action comprises a
transaction to at least one of purchase or sell the one or more
securities; and the at least one parameter comprises one or more
trade parameters; the proposed parameters comprise one or more
proposed trade parameters; and at least one of the trade parameters
comprises at least one of an identifier of the one or more
securities, a type of transaction, a quantity of the one or more
securities, a price type, a triggering event initiating a transfer
of a trade order to a market, a period validity of the trade order,
instructions associated with the market, or an account associated
with the trade order.
15. The method of claim 14, further comprising transmitting, to the
user device, information confirming an execution of the transaction
to purchase or sell the one or more securities, the information
causing the user device to present an alert to the user that
confirm the execution.
16. The method of claim 12, wherein: the action comprises an
addition of the one or more securities to at least one of a virtual
portfolio held by the user or a watchlist associated with the user;
and the method further comprises: accessing stored data associated
with the at least one of the virtual portfolio or the watchlist;
and modifying at least a portion of the stored data to include
information identifying the one or more securities.
17. The method of claim 12, wherein: the first social media message
includes textual data, the textual data comprising the at least one
parameter; and the extracting comprises parsing the textual data to
extract the at least one parameter from the first social media
message.
18. The method of claim 12, wherein: the first social media message
includes graphical data; and the extracting comprises processing
the graphical data to extract the at least one transaction
parameter from the first social media message.
19. The method of claim 12, further comprising: transmitting, to
the user device, a first message comprising the proposed
parameters, the first message causing the user device to present
information identifying the proposed parameters to the user through
a corresponding interface; and in response to the transmitted first
message, receiving, from the user device, a second message
comprising the information confirming the proposed parameters.
20. The method of claim 12, wherein generating the proposed
parameters comprises: determining that the at least one parameter
includes at least a predetermined set of parameters, the
predetermined parameters comprising at least one of names of the
one or more securities, symbols of the one or more securities, a
transaction type, or quantities of units of the one or more
securities; and in response to the determination, generating the
proposed parameters based on the social media message.
21. The method of claim 20, wherein generating the proposed
parameters further comprises: determining that the at least one
parameter fails to include the predetermined set of parameters; in
response to the determination, identifying one or more of the
predetermined parameters that are absent from the at least one
parameter; and transmitting, to the user device, information
requesting that the user provide the absent ones of the
predetermined parameters, the information causing the user device
to present, to the user, an alert identifying the absent ones of
the predetermined parameters.
22. The method of claim 12, wherein the second social media message
is generated by a device of an additional user, the additional user
being different from the user associated with the social networking
account.
23. A system, comprising: a first computing device that receives
social-media data from at least one social-networking server across
a communications network, the social-media data comprising a
plurality of social media messages; a second computing device in
communications with the first computing device, wherein the second
computing device comprises: at least one processor; and a memory
storing executable instructions that, when executed by the at least
one processor, cause the at least one processor to perform the
steps of: detecting an occurrence of at least one predetermined
hashtag within a first one of the social-media messages received by
the first apparatus, the first social-media message being
associated with a social-networking account of a user; and
extracting, from the first social media message, data identifying
at least one parameter of an action involving one or more
securities; generating proposed parameters for the action, the
proposed parameters comprising the at least one parameter extracted
from the first social-media message; receiving, from a device of
the user, information confirming the proposed parameters; and
generating one or more electronic commands to initiate the action
involving the one or more securities in accordance with the
confirmed parameters.
Description
CROSS-REFERENCE TO RELATED APPLICATIONS
[0001] This application claims the benefit of U.S. Provisional
Patent Application No. 62/201,392, filed Aug. 5, 2015, which is
expressly incorporated by reference herein in its entirety.
DESCRIPTION
[0002] Technical Field
[0003] The disclosed embodiments generally relate to computerized
systems and methods that generate trade orders for electronic
trading platforms, and more particularly, and without limitation,
computerized systems and methods that facilitate automated
trade-order entry and execution based on social media
messaging.
[0004] Background
[0005] Today, timely and accurate execution of trade orders is
essential not only for financial institutions, but also for clients
of these financial institutions and for individual investors,
Further, many investors adopt social media technologies as
real-time sources of information and news, which may inform the
investors' decisions related to investment portfolio management. As
the speed of these social-media-based sources of information and
news increases in parallel with the speed of electronic trading
platforms, inefficiencies related to manual trade-order entry and
execution may place individual investors at a competitive
disadvantage within the marketplace.
SUMMARY
[0006] The disclosed embodiments relate to computerized systems and
methods that facilitate automated trade-order entry and execution
based on social media messaging.
[0007] In an embodiment, an apparatus includes at least one
processor and a memory storing executable instructions that, when
executed by the at least one processor, causes the at least one
processor to perform the step of obtaining a first social-media
message comprising a retweet of a second social-media message. In
some aspects, the first social-media message may be associated with
a social-networking account of a user and may be generated by a
device of the user. The executed instructions may further cause the
at least one processor to perform the steps of extracting, from the
first social media message, data identifying at least one parameter
of an action involving one or more securities, and generating
proposed parameters for the action. In certain aspects, the
proposed parameters may include the at least one parameter
extracted from the first social-media message. The executed
instructions may further cause the at least one processor to
perform the steps of receiving, from the user device, information
confirming the proposed parameters, and generating one or more
electronic commands to initiate the action involving the one or
more securities in accordance with the confirmed parameters.
[0008] In other embodiments, computer-implemented method includes
obtaining, by at least one processor, a first social-media message
comprising a retweet of a second social-media message. In some
aspects, the first social-media message may be associated with a
social networking account of a user and may be generated by a
device of the user. The method may also include extracting, by the
at least one processor, and from the first social media message,
data identifying at least one parameter of an action involving one
or more securities, and generating, by the at least one processor,
proposed parameters for the action. In certain aspects, the
proposed parameters ma include the at least one parameter extracted
from the first social-media message. Additionally, the method may
include receiving, by the at least one processor, and from the user
device, information confirming the proposed parameters, and
generating, by the at least one processor, one or more electronic
commands to initiate the action involving the one or more
securities in accordance with the confirmed parameters.
[0009] In further embodiments, a system includes a first computing
device and a second computing device. The first computing device
may receive social-media data from at least one social-networking
server across a communications network, and in some aspects, the
social-media data may include a plurality of social media messages.
In further aspects, the second computing device may be in
communication with the first computing device. The second computing
device may include at least one processor and a memory storing
executable instructions that, when executed by the at least one
processor, cause the at least one processor to perform the step of
detecting an occurrence of at least one predetermined hashtag
within a first one of the social-media messages received by the
first apparatus. In certain aspects, the first social-media message
may be associated with a social-networking account of a user. The
executed instructions may further cause the at least one processor
to perform the steps of extracting, from the first social media
message, data identifying at least one parameter of an action
involving one or more securities, and generating proposed
parameters for the action. The proposed parameters may, in one
aspect, include the at least one parameter extracted from the first
social-media message. The executed instructions may further cause
the at least one processor to perform the steps of receiving, from
a device of the user, information confirming the proposed
parameters, and generating one or more electronic commands to
initiate the action involving the one or more securities in
accordance with the confirmed parameters.
BRIEF DESCRIPTION OF THE DRAWINGS
[0010] FIG. 1 is a diagram of an exemplary computing environment,
consistent with disclosed embodiments.
[0011] FIGS. 2A, 2B, and 2C are diagrams of exemplary social media
messages, consistent with disclosed embodiments.
[0012] FIG. 3 is a flowchart of an exemplary process for generating
trade orders based on social-media data, consistent with disclosed
embodiments.
[0013] FIGS. 4A and 4B are diagrams of exemplary notifications,
consistent with disclosed embodiments.
DESCRIPTION OF THE DRAWINGS
[0014] Reference will now be made in detail to the disclosed
embodiments, examples of which are illustrated in the accompanying
drawings. The same reference numbers in the drawings and this
disclosure are intended to refer to the same or like elements,
components, and/or parts.
[0015] In this application, the use of the singular includes the
plural unless specifically stated otherwise. In this application,
the use of "or" means "and/or" unless stated otherwise.
Furthermore, the use of the term "including," as well as other
forms such as "includes" and "included," is not limiting. In
addition, terms such as "element" or "component" encompass both
elements and components comprising one unit, and elements and
components that comprise more than one subunit, unless specifically
stated otherwise. Additionally, the section headings used herein
are for organizational purposes only, and are not to be construed
as limiting the subject matter described.
I. Exemplary Computing Environments, Networks, Systems, and
Devices
[0016] FIG. 1 illustrates an exemplary computing environment 100
consistent with certain disclosed embodiments. In one aspect,
computing environment 100 may include client device 104, system
140, social networking system 160, and a communications network 120
connecting one or more of the components of environment 100.
[0017] a. Exemplary Client Devices
[0018] In one embodiment, client device 104 may be a computing
device, such as, but not limited to, a personal computer, a laptop
computer, a tablet computer, a notebook computer, a hand-held
computer, a personal digital assistant, a portable navigation
device, a mobile phone, a smart phone, a wearable computing device
(e.g., a smart watch, a wearable activity monitor, wearable smart
jewelry, and glasses and other optical devices that include optical
head-mounted displays (OHMDs), an embedded computing device (e.g.,
in communication with a smart textile or electronic fabric), and
any other type of computing device that may be configured to store
data and software instructions, execute software instructions to
perform operations, and/or display information on a display
device(s), consistent with disclosed embodiments. In certain
embodiments, client device 104 may be associated with one or more
users, such as user 110. For instance, user 110 may operate client
device 104 and may do so to cause client device 104 to perform one
or more operations consistent with the disclosed embodiments.
[0019] Client device 104 may include one or more tangible,
non-transitory memories that store data and/or software
instructions, and one or more processors configured to execute
software instructions. Client device 104 may include one or more
display devices that display information to a user and one or more
input device(s) to allow the user to input information to client
device 104 (e.g., keypad, keyboard, touchscreen, voice activated
control technologies, or any other type of known input device).
[0020] In one aspect, client device 104 may store in memory one or
more software applications that run on client device 104 and are
executed by the one or more processors. In some aspects, client
device 104 may store software applications that, when executed by
one or more processors, perform operations that allow user 110
(through client device 104) to interact with business entity 150
through, for example, a computing device, such as server 142 or
other computing component(s) of system 140. In certain aspects,
additional software applications may, when executed by client
device 104, cause client device 104 to send information to be
stored in a memory remote to client device 104 and/or receive
information stored in a memory remote to client device 104 (e.g.,
memory associated with server 142, such as data repository 144). In
other aspects, additional software applications may, when executed
by client device 104, cause client device 104 to establish
communications with social networking system 160 (e.g., through a
corresponding application programming interface (API)) and
facilitate user 110's interaction with an electronic social network
through data exchanged with social networking system 160. The
disclosed embodiments are, however, not limited to such exemplary
configurations, and in further embodiments, client device 104 may
be configured in any additional or alternate manner to enable
communication and data exchange with system 140 across network
120.
[0021] b. Exemplary Computer Systems
[0022] System 140 may be a computing system configured to execute
software instructions to perform one or more operations consistent
with disclosed embodiments. In one aspect, system 140 may be
associated with a business entity 150 (e.g., a financial
institution) that provides financial accounts, financial services
transactions, and investment services one or more users (e.g.,
customers of business entity 150). In some aspects, system 140 may
be a distributed system that may include computing components
distributed across one or more networks, such as network 120, or
other networks.
[0023] In one aspect, system 140 may include computing components
configured to store, maintain, and generate data and software
instructions. For example, system 140 may include one or more
servers (e.g., server 142) and tangible, non-transitory memory
devices (e.g., data repository 144). Server 142 may include one or
more computing devices that may be configured to execute software
instructions to perform one or more processes consistent with the
disclosed embodiments. In one example, server 142 may be a
computing device that executes software instructions that perform
operations that provides information to one or more other
components of computing environment 100.
[0024] In one embodiment, server 142 may include a computer (e.g.,
a server, personal computer, network computer, or mainframe
computer) having one or more processors that may be selectively
activated or reconfigured by a computer program. In one aspect,
server 142 (or other computing components of system 140) may be
configured to provide one or more websites, digital portals, etc.,
that provide services consistent with business entity 150, such as
a digital banking or investment portal, and services consistent
with disclosed embodiments. For instance, server 142 may be
configured to provide information associated with a requested web
page over communications network 120 to client device 104, which
may render the received information and present content from the
web page on a display device, e.g., a touchscreen display unit.
[0025] In other aspects, server 142 (or other computing components
of system 140) may be configured to provide information to one or
more application programs executed by client device 104 (e.g.,
through a corresponding application programming interface (API)).
For example, client device 104 may execute an application program
associated with and provided by business entity 150, such a mobile
banking and/or investment application, to provide services to user
110 consistent with the disclosed embodiments. In some instances,
server 142 may provide information to client device 104 (e.g.,
through the API associated with the executed application program),
and client device 104 may be configured by the executed application
program to present portions of the information to user 110 through
a corresponding graphical user interface (GUI).
[0026] In further aspects, server 142 (or other computing
components of system 140) may be configured to provide to client
device 104 (and/or receive from client device 104) information
associated with services provided by business entity 150. For
example, client device 104 may receive the transmitted information,
and store portions of the information in locally accessible storage
device and/or network-accessible storage devices and data
repositories (e.g., cloud-based storage). In one instance, client
device 104 may execute stored instructions (e.g., an application
program, a web browser, and/or a mobile banking application) to
process portions of the stored data and render portions of the
stored data for presentation to user 110. Additionally, server 142
may be incorporated as a corresponding node in a distributed
network, and additionally or alternatively, as a corresponding
networked server in a cloud-computing environment. Furthermore,
server 142 may communicate via network 120 with one or more
additional servers (not shown), which may facilitate the
distribution of processes for parallel execution by the additional
servers.
[0027] c. Exemplary Data Repositories and Stored Data
[0028] Data repository 144 may include one or more memories that
are configured to store and provide access to data and/or software
instructions. Such memories may include tangible non-transitory
computer-readable media that store software instructions that, when
executed by one or more processors (e.g., of server 132), perform
one or more operations consistent with disclosed embodiments. Data
repository 144 may also be configured to store information relating
to business entity 150, e.g., a financial institution. For example,
data repository 144 may be configured to store data identifying
customers of the financial institution, financial account data
associated with the customers, investment portfolio data associated
with the customers, and data indicative of social-networking
activity of the customers.
[0029] In one aspect, data repository 144 may store customer data
that uniquely identify customers of a financial institution
associated with system 140. By way of example, a customer of the
financial institution (e.g., user 110) may access a web page
associated with system 140 (e.g., through a web server executed by
a corresponding front end), and may register for digital banking
services and provide data, which may be linked to user 110 and
stored as customer data within data repository 144. The stored
customer data may, for example, include personal information,
government-issued identifiers, employment information, and contact
information. Customer data 144A may also include authentication
credentials associated with registered users of the financial
institution (e.g., a user name, a user-specified password, a
system-generated password, an alphanumeric identification number
(e.g., a PIN number) specified by user 110 or assigned by financial
system 140, and information facilitating enhanced authentication
techniques).
[0030] Data repository 144 may also store account data identifying
one or more accounts of users of the financial institution
associated with system 140. In one embodiment, account
identification information may include information associated with
a financial service account, such as, for example, a checking
account, a savings account, a revolving credit line, an account
linked to a credit or debit card, an investment account, a
brokerage account, and any additional or alternate account provided
or supported by the financial institution.
[0031] In additional aspects, data repository 144 may store
portfolio data that identifies investment portfolios held by
customers of the financial institution. In one aspect, the stored
portfolio data may include information identifying a real or
"actual" investment portfolio composed of actual financial
positions held by a user in various securities. In further aspects,
the portfolio data may include information identifying one or more
"virtual" investment portfolios composed of "simulated" positions
held by user 110 in various securities. In some aspects, data
repository 144 may also store portfolio data identifying one or
more "watch lists" that specify various securities monitored by
user 110 and corresponding simulated positions held by user 110 in
these various securities.
[0032] In certain embodiments, the securities associated with user
110's actual investment portfolio, virtual investment portfolio,
and watch list may represent various equity and debt securities. In
some aspects, equity and debt securities consistent with the
disclosed embodiments may include, but are not limited to, shares
of common stock, corporate or governmental bonds, mutual funds,
bond funds, preferred stock, debentures, warrants, options,
exchange traded funds (ETFs), and any additional or alternate
equity or debt security associated with a recognized and/or
registered security identifier,
[0033] Further, portfolio data 144C may include information
identifying the simulated or actual positions held by user 110 in
these securities, as well as information identifying a schedule for
providing electronic updates to user 110 regarding a performance of
these securities. By way of example, the electronic updates may be
provided by system 140 to client device 104 in real-time or in
near-real time. For instance, one or more of the near-real-time
updates provide by system 140 may include frequent and/or cached
updates of real-time prices of the securities, which may be stale
by a predefined time (every second, every 30 seconds, every minute,
etc.). In other instances, system 140 may be configured to provide
one or more of the electronic updates to client device 104 at
predetermined intervals (e.g., daily, weekly, monthly, quarterly,
etc.) and/or in response to customer-specific events. Further, in
some instances, system 140 may delay the provision of one or more
of the electronic updates to client device 104 by a predetermined
time period (e.g., by fifteen or twenty minutes), and additionally
or alternatively, system 140 may provide one or more of the
electronic updates to client device 104 at an end of a trading day
on a corresponding market.
[0034] Data repository 144 may also store social networking data
indicative of an interaction of customers of the financial
institution with one or more social networks (e.g., Twitter.TM.,
Facebook.TM., FourSquare.TM., Instagram.TM., Tumblr.TM.,
LinkedIn.TM., etc.). For example, user 110 may be a regular user of
Twitter.TM., and upon registration for digital banking services,
user 110 may provide system 140 with a corresponding Twitter.TM.
handle. Further, through a web page or other interface presented by
client 104, user 110 may grant system 140 access to information
associated with user 110's Facebook.TM. and Twitter.TM. accounts,
which includes, but is not limited to the individuals and entities
followed by user 110 (e.g., by providing system 140 with
corresponding authentication credentials, which include, but are
not limited to user names and/or handles and passwords).
[0035] In certain aspects, system 140 may establish customer
profile data for one of more of the customers of business entity
150 (e.g., a financial institution), which system 140 may be stored
in data repository 144 and additionally or alternatively, in an
external data repository accessible to system 140 across network
120 (e.g., cloud-based storage). For example, system 140 may
establish a customer profile data for user 110 that includes all or
a portion of user 110's stored customer data, account data,
portfolio data, and/or social networking data. In some aspects,
user 110 may access, update, and/or modify portions of the stored
customer profile data through a web page or other graphical user
interface (GUI) provided by system 140 and rendered for
presentation by client device 104. In other aspects, system 140 may
execute software instruction that dynamically modify and/or update
user 110's customer profile data based financial services
transactions and other financial services initiated and/or executed
by system 140 on user 110's behalf.
[0036] In further aspects, user 110's customer profile data may
include information identifying one or more digital banking and
investment services and programs associated with user 110 and/or
user 110's accounts (e.g., as held by the financial institution
associated with business entity 150). For example, user 110 may
elect to participate in the exemplary processes for automated,
social-media-based entry and execution of trade orders described
below (e.g., as input provided to a web page or other GUI presented
by client device 104). In certain instances, and in response to
user 110's election, system 140 may update user 110's customer
profile to include information indicative of user 110's decision to
participate in the exemplary automated, social-media-based trade
order entry and execution processes.
[0037] In some embodiments, user 110's customer profile may also
include information identifying one or more preferences and/or
settings specified by user 110 for the digital banking and
investment services and programs in which user 110 participates. By
way of example, system 140 may provide, to client device 104 for
presentation for user 110, one or more selectable preferences and
settings associated with the exemplary automated,
social-media-based trade order entry and execution processes. For
example, system 140 may enable user 110 to select (e.g., through a
web page or GUI provided by system 140 and presented by client
device 104) one or more social-media accounts that may be
accessible to the automated, social-media-based trade order entry
and execution processes described below.
[0038] Further, through a web page or GUI provided by system 140
and presented by client device 104, user 110 may specify that
system 140 should initiate execution of automatically entered
trades having trade parameters that fall within user-specified
threshold values and/or that involved predetermined securities
(e.g., user-specified stocks, etc.). In other aspects, through the
web page or GUI, user 110 may specify default values for one or
more trade parameters associated with a proposed trade order. For
example, user 110 may provide, as input to the web page or GUI
presented by client device 104, information identifying one or more
favorite accounts that fund and/or receive proceeds from executed
trade orders, and further, information mapping one or more accounts
held by user 110 to corresponding hashtags or predetermined
elements of content, which may be included in social media messages
requesting proposed trade orders. In certain aspects, system 140
may store the user-established default values, favorites, and
mappings as preference data within data repository 144.
[0039] d. Exemplary Social Networking Systems
[0040] Referring back to FIG. 1, social networking system 160 may
be a computing system configured to execute software instructions
to perform one or more operations consistent with disclosed
embodiments. In one aspect, social networking system 160 may be
associated with one or more providers 170 of social media and
social networks (e.g., Twitter.TM., Facebook.TM., FourSquare.TM.,
Instagram.TM., Tumblr.TM., LinkedIn.TM., etc.). In some aspects,
system 140 may be a distributed system that may include computing
components distributed across one or more networks, such as network
120, or other networks.
[0041] In some aspects, social networking system 160 may include
computing components configured to store, maintain, and generate
data and software instructions. For example, system 140 may include
one or more computing devices (e.g., a server, network computer, or
mainframe computer) having one or more processors that may be
selectively activated or reconfigured by executable instructions
(e.g., computer programs) stored in one or more tangible,
non-transitory computer-readable storage devices.
[0042] In one aspect, social networking system 160 may be
configured to maintain one or more social networks having members
(e.g., individuals and entities) linked together through one or
more member-established relationships. By way of example, user 110
may be a user of a social media network (e.g., Twitter.TM.), and
social networking system 160 may be configured to establish an
application programming interface (API) through which social
networking system 160 may receive social media data and messages
(e.g., tweets, retweets, direct messages, member profile
information, query results, etc.) from member devices (e.g., client
device 104), and through which social networking system 160 may
broadcast social media data and messages (e.g., social media feeds)
to member devices at regular intervals or in response to polling
requests received from the member devices (e.g., as generated by a
mobile Twitter.TM. app executed by client device 104). In certain
instances, client device 104 may be connected to social networking
system 160 across network 120, may be configured to transmit and
receive social data and messages in formats consistent with the
social and/or microblogging network maintained by social networking
system 160, and further, to present the received social media data
through a web page or graphical user Interface (GUI) associated
with the social network (e.g., the mobile Twitter.TM. app).
[0043] In other aspects, computing devices associated with various
business entities may access the API, and may monitor or "listen"
to the social media feeds broadcasted by social networking system
160 in order to identify specific elements of the broadcasted
social media feeds (e.g., specific tweets, retweets, etc. of a
Twitter.TM. feed broadcast by social networking system 160) for
subsequent processing and/or presentation to users. By way of
example, the financial institution associated with system 140 may
request access to a Twitter.TM. feed broadcast at regular intervals
by social networking system 160 in order to implement the one or
more of the exemplary automated, social-media-based trade order
entry and execution processes outlined below.
[0044] Upon authentication of system 140 and/or the financial
institution (e.g., business entity 150), social networking system
160 may provide system 140 with information necessary to establish
a connection with the social-media-feed API, and system 140 may be
configured to receive the Twitter.TM. feed regularly broadcasted by
social networking system 160 to member devices. The broadcasted
feed may, in some instances, include social media data and messages
associated with all members having publicly available Twitter.TM.
accounts, and as described below, system 140 may be configured to
filter the received data feed to identify messages conforming to
one or more criteria established by the financial institution,
which include, but are not limited to, message type (e.g., tweet or
retweet), message content (e.g., inclusion of specific Twitter.TM.
hashtags and other keywords), and message format.
[0045] Although computing environment 100 is illustrated in FIG. 1
with client device 104 in communication with systems 140 and 160,
persons of ordinary skill in the art will recognize that
environment 100 may include any number of number of mobile or
stationary client devices 104, and any additional number of
computers, systems, or servers without departing from the spirit or
scope of the disclosed embodiments. Further, although computing
environment 100 is illustrated in FIG. 1 with a single business
entity 150 and/or system 140, and a single social-networking
provider 170 and/or social networking system 160, persons of
ordinary skill in the art will recognize that environment 100 may
include any number of additional number of business entities,
social-networking providers, and corresponding systems, any number
of additional servers and data repositories e.g., cloud-based data
repositories), and any additional number of computers, systems,
servers, or server farms without departing from the spirit or scope
of the disclosed embodiments.
[0046] e. Exemplary Communications Networks
[0047] Communications network 120 may include one or more
communication networks or medium of digital data communication.
Examples of communication network 120 include a local area network
("LAN"), a wireless LAN, a RF network, a Near Field Communication
(NFC) network, (e.g., a "WiFi" network), a wireless Metropolitan
Area Network (MAN) connecting multiple wireless LANs, NFC
communication link(s), and a wide area network ("WAN"), e.g., the
Internet. Consistent with embodiments of the present disclosure,
communications network 120 may include the Internet and any
publicly accessible network or networks interconnected via one or
more communication protocols, including, but not limited to,
hypertext transfer protocol (HTTP) and transmission control
protocol/internet protocol (TCP/IP). Communications protocols
consistent with the disclosed embodiments also include protocols
facilitating data transfer using radio frequency identification
(RFID) communications and/or NFC. Moreover, communications network
120 may also include one or more mobile device networks, such as a
GSM network or a PCS network, allowing client device 104 to send
and receive data via applicable communications protocols, including
those described herein.
II. Exemplary Processes for Generating and Populating Trade Orders
Based on Social Network Data
[0048] In some aspects, as described above, client device 104 may
execute one or more stored applications that enable user 110 to
interact with one or more social networks. For example, user 110
may establish Twitter.TM. account to follow not only friends and
family, but also news providers (e.g., the Wall Street Journal.TM.)
and various business entities of interest to user 110. In some
instances, user 110 may also hold an investment portfolio composed
of stocks, bonds, and other securities (e.g., derivatives, etc.)
associated with or issued by one or more of the followed business
entities. By way of example, user 110's investment portfolio may
include common stock issued by Microsoft.TM., and user 110 may also
follow one or more Twitter.TM. accounts established by
Microsoft.TM. (e.g., Microsoft.TM. (@Microsoft.TM.) and Microsoft
News.TM. (@MSFTNews.TM.) in order to obtain real-time information
that impacts the performance of Microsoft.TM. common stock.
[0049] As illustrated in FIG. 2A, while browsing through tweets
presented by client device 104 through an social-media interface
200 (e.g., a GUI associated with the mobile Twitter.TM. app), user
110 may notice a tweet 202 from the Wall Street Journal.TM.
(@WSJ.TM.) related to a presentation of Microsoft.TM.'s latest
updates to their gaming platform. User 110 may select tweet 202
(e.g., by touching, tapping, or otherwise selecting the presented
tweet within the GUI), and may view additional information 212
indicating that Microsoft.TM.'s new entries into the gaming market
seek to boost sales and overcome rivals. Based on this information
user 110 may decide to purchase additional shares of Microsoft.TM.
common stock in anticipation of a potential bump in share price due
to Microsoft.TM.'s updated gaming system.
[0050] a. Conventional Trade-Order Entry and Generation
Processes
[0051] To purchase the additional shares of Microsoft.TM. using
conventional and existing trade-order entry and generation
processes, user 110 must close the GUI associated with the mobile
Twitter.TM. app, and must access a web page or other GUI associated
with user 110's financial institution (e.g., business entity 150).
Upon accessing the web page of other GUI, user 110 provides
authentication information into client device 104, and in response
to verification from system 140, client device 104 may present a
trade-order interface that enables user 110 to specify parameters
required to complete the purchase of the shares of Microsoft.TM.
common stock. System 140 may receive the specified trade parameters
from client device 104, and may transmit a trade order based on the
specified trade parameters to an electronic trading system of the
financial institution, which executes the purchase of the
Microsoft.TM. common stock in accordance with the specified trade
parameters and rules and regulations of the financial institution
and a corresponding exchange.
[0052] Thus, to purchase the desired shares of Microsoft.TM. common
stock via conventional and/or existing trade-order entry and
generation processes, user 110 exits the mobile Twitter.TM. app on
client device 104, and accesses a digital trading portal provided
by user 110's financial institution (e.g., through a web page or
GUI presented by client device 104), and further, manually inputs
the trade parameters into the digital banking portal to initiate
the purchase of the desired shares of Microsoft.TM. common stock.
This process is cumbersome and time-consuming, especially when
performed on mobile devices with touchscreen displays of limited
size and variable connectivity to network 120. Furthermore, due to
rapidly changing market conditions, the time required to switch
applications and manually input the desired trade parameters may
impact user 110's ability to purchase the Microsoft.TM. common
stock at the desired share price. Thus, there is a need for
improved systems and methods that not only speed the entry of trade
parameters into corresponding trade-order interfaces, but that also
closely integrate the entry process with sources of market
information, such as social media.
[0053] b. Exemplary Processes that Automate Trade-Order Entry Based
on Social-Network Interaction
[0054] The disclosed embodiments address these and other problems
associated with conventional trade-order entry and generation
processes in a technical manner, by providing computer-implemented
systems and methods that automate an entry of a trade order on
behalf of a customer, and additionally or alternatively, that
automate an execution of the entered trade order, based on the
customer's interaction with one or more social networks (e.g.,
Twitter.TM., Facebook.TM., FourSquare.TM., LinkedIn.TM., etc.). For
example, a customer (e.g., user 110) may access an account on a
social network (e.g., a Twitter.TM. account) through a web page or
a graphical user interface (GUI) presented by client device 104.
User 110 may identify a social media message (e.g., a "tweet")
involving a particular company or business entity of interest, and
user 110 may desire to execute a transaction to purchase or sell
securities associated with the particular company or business
entity.
[0055] User 110 may, for example, provide input to client device
104 that forwards the identified social media message to system 140
through the social network (e.g., by "retweeting" the identified
tweet) along with trade parameters and predetermined content
indicative of user 110's interest in a purchase of or sale of the
securities (e.g., a hashtag or other specific content parseable by
system 140). In certain aspects, described below in reference to
FIG. 3, system 140 may monitor a data feed associated with the
social network (e.g., data broadcast by social networking system
160 through a corresponding API) to identify the forwarded message,
and may process the forwarded message to automatically populate a
trade order for the desired purchase or sale of securities, which
may be executed automatically or upon receipt of confirmation from
user 110.
[0056] In one aspect, and as described above in reference to FIG.
2A, user 110 may be associated with a corresponding Twitter.TM.
account, and may view tweet 202 (e.g., as presented by client
device 104 within social-media interface 200) indicating that
Microsoft.TM.'s new entries into the gaming market seek to boost
sales and overcome rivals. User 110's investment portfolio may
already include Microsoft.TM. common stock, and based on the
information in tweet 202, user 110 may decide to purchase an
additional 100 shares of Microsoft.TM. common stock. In some
aspects, and consistent with the disclosed embodiments, user 110
may elect to "retweet" tweet 202 to the financial institution with
comments indicating user 110's desire to purchase the Microsoft.TM.
common stock in accordance with one or more specified trade
parameters.
[0057] For example, user 110 may select icon 222 in FIG. 2A (e.g.,
by touching or tapping a portion of a touchscreen display
corresponding to icon 222) in order to access a retweet interface
240, which client device 104 may present to user 110. In some
aspects, user 110's financial institution may establish specific
content to be included within forwarded social media messages to
indicate, to system 140, that the forwarded social media message
includes a request to generate a proposed trade order. For example,
within Twitter.TM., the financial institution may require that user
110 include "#Trade" within a tweet, retweet, or direct message to
the financial institution that represents a request to generate a
proposed trade order.
[0058] The disclosed embodiments are, however, not limited to any
particular hashtag, and in other embodiments, the financial
institution may specify the inclusion of any additional or
alternate alpha-numeric hashtag apparent to one of skill in the art
that enables system 140 to identify the corresponding tweet,
retweet, or direct message within the broadcast Twitter.TM. feed.
Furthermore, the disclosed embodiments are not limited to social
media messages generated and forwarded within the Twitter.TM.
network, and in other aspects, the financial institution and/or
system 140 may assign additional content that identifies requests
to generate proposed trading orders included within social media
messages forwarded to the financial institution other social
networks (e.g., Facebook.TM., FourSquare.TM., LinkedIn.TM.,
etc.).
[0059] By way of example, and as noted above, user 110 may desire
to purchase 100 shares of Microsoft.TM. common stock after viewing
the tweet 202. Referring to FIG. 2B, user 110 may provide input to
client device 104 (e.g., through a virtual keypad, spoken commands,
etc.) that includes "#Trade" within comment region 242 of retweet
interface 240, and further, that specifies an instruction to "Buy
100 shares of Microsoft." In some aspects, user 110 may select icon
244 (e.g., by touching or tapping a portion of a touchscreen
display corresponding to icon 244) to retweet the tweet 202 to the
financial institution (e.g., via "#Trade") with the user-specified
instructions to purchase 100 shares of Microsoft.TM. common stock.
In response to user 110's selection of icon 244, client device 104
may generate retweet data that includes the specified hashtag
(i.e., "#Trade"), the instructions to purchase the 100 shares of
Microsoft.TM. common stock (i.e., "Buy 100 shares of Microsoft"),
which may be transmitted to social networking system 160 across
network 120 using any of the communications protocols outlined
above. Social networking system 160 may, in some aspects, be
configured to receive the retweet data transmitted by client device
104 and include the retweet data in a corresponding Twitter.TM.
data stream, which may be broadcast to member devices and other
subscribing systems at regular intervals through the corresponding
Twitter.TM. API.
[0060] c. Flow Diagrams and Further Examples of Exemplary Processes
for Generating Trade Orders Based on Social Media Data
[0061] FIG. 3 is a flowchart of an exemplary process 300 for
automatically generating trade orders based on social media data,
in accordance with disclosed embodiments. In an embodiment, a user
(e.g., user 110) may access a social network though a device (e.g.,
client device 104), and may provide input to client device 104 that
forwards a social media message related to a particular company or
business entity to financial institution through the social
network, along with information identifying one or more trade
parameters and content indicating the user 110's desire to initiate
a transaction to purchase or sell securities associated with the
particular company or business entity. A system associated with the
financial institution (e.g., system 140) may monitor social-media
data broadcasted by a system associated with the social network
(e.g., social networking system 160), and may identify the
forwarded social media message based on the included content (e.g.,
a hashtag or other pre-established identifier). System 140 may be
configured to parse the forwarded social media message to create a
proposed trade order for the purchase or sale of the securities,
and may be configured to forward a confirmation request to user 110
that includes the proposed trade order over the social network.
Upon receipt of the confirmation from user 110 (e.g., through an
additional social media message forwarded to the financial
institution through the social network), system 140 may be
configured to execute a transaction to purchase or sell the
securities based on the proposed trade order, or alternatively, to
generate a trade order based on the proposed trade order for
subsequent review, approval, and execution by user 110.
[0062] Referring to FIG. 3, system 140 may be configured to receive
social-media data feeds (e.g., Twitter.TM. data feeds) broadcast by
social networking system 160 (e.g., in step 302), and further,
identify one or more social media messages (e.g., Twitter.TM.
retweets, tweets, and/or direct messages) that include the specific
content tags indicative of requests to generate proposed trade
orders (e.g., in step 304). For example, and as described above,
system 140 may subscribe to Twitter.TM. data feeds broadcast to
member devices and other subscribing systems at regular intervals
through the corresponding Twitter.TM. API. The Twitter.TM. data
feeds, which may be received by system 140 in step 302, may include
tweets, retweets, and/or direct messages generated by and directed
to various Twitter.TM. accounts holders, such as individuals and
business entities.
[0063] In certain aspects, system 140 may, in step 304, process the
received Twitter.TM. data to identify social media messages (e.g.,
tweets, retweets, etc.) that include the "#Trade" hashtag
indicative of requests for generate proposed trading orders, and
the identified messages may be stored for future analysis (e.g., in
a portion of data repository 144). Each of the identified social
media messages may, for example, be associated with a corresponding
timestamp indicative of a time and date at which corresponding
Twitter.TM. account holders transmitted the social media messages
to the financial institution. In some aspects, system 140 may be
configured to parse the social media messages to determine the
corresponding timestamp, and system 140 may queue the social media
messages for subsequent analysis in accordance with the determined
timestamps.
[0064] The disclosed embodiments are, however, not limited to
techniques that identify social media messages within the
Twitter.TM. data based on a presence of one or more hashtags
associated with requests for generate proposed trading orders by
the financial institution. In further embodiments, system 140 may
identify social media messages representative of requests to
generate proposed trading orders based on a format of the social
media messages (e.g., the financial institution may specify that a
social media message requesting a proposed trade order be formatted
in a particular manner). In other aspects, system 140 may access a
list of customers of the financial institution (e.g., customers who
elected to participate in automated, social-media-based trade order
entry and execution processes), and may identify social media
messages originating from accessed customer list for subsequent
analysis in step 304.
[0065] System 140 may be configured to select one of the identified
social media messages for analysis (e.g., in step 306). For
example, system 140 may select the social media message disposed at
an initial position within the queue and thus, associated with the
earliest timestamp. The disclosed embodiments are not limited to
these exemplary selection criteria, and in other embodiments,
system 140 may select one of the stored social media messages for
analysis based on any additional or alternate criterion apparent to
one of skill in the art and appropriate to the social media
messages, such as a user associated with the message.
[0066] In some aspects, system 140 may be configured to parse the
selected social media message to identify a user associated with
the message (e.g., a Twitter.TM. handle associated with user 110
and included within the selected social media message) and further,
to identify one or more trade parameters specified within the body
of the selected social media message (e.g., in step 308). In
certain aspects, trade parameters consistent with the disclosed
embodiments may include, but are not limited to: an identifier of a
security (e.g., a name or a symbol); a type of transaction
involving the security (e.g., a transaction to purchase and/or sell
units of the security, adding the security to or removing the
security from a virtual investment portfolio, and/or adding the
security to or removing the security from a watchlist); a quantity
of the security involved in the transaction, a price type for the
transaction (e.g., a best price available on a market, a specified
price to buy or sell the security, and/or an instruction to system
140 to transmit a corresponding trade order to the market (e.g., at
the best or specified price) only after the security has traded
through a user-specified threshold (e.g., stop orders, trailing
stop orders. etc.); information specifying whether a corresponding
trade order should be sent to a market for execution after an
occurrence of a triggering event (e.g., conditional and/or
contingent orders); a period of validity for a corresponding trade
order; and other special instructions that are used by certain
exchanges or marketplaces that dictate either the treatment of a
corresponding trade order (e.g., all-or-none orders, etc.) and/or a
relationship between user 110 and the security (e.g., insider
status).
[0067] Further, in additional aspects, the selected social media
message may include information specifying one or more accounts
and/or account types that provide funds facilitate an execution of
proposed trade order (e.g. to purchase securities) and/or that
receive funds from an executed trade order (e.g., to sell
securities). For example, and using any of the exemplary techniques
described above, user 110 may provide input to client device 104
that specifies an account and/or account type within comment region
242 (e.g., an account name, or a specific hashtag (such as
#AcctUSMargin or #AcctCADRRSP) mapped by user 110 to a
corresponding account during a registration process), which system
140 may store in a portion of data repository 144.
[0068] For example, as described above in reference to FIG. 2B,
user 110 may have retweeted a prior tweet that included comments
(e.g., within region 242) requesting a purchase of 100 shares of
Microsoft common stock (e.g., as depicted in FIG. 2B). System 140
may, in certain aspects, process the retweet in step 308 to
identify a Twitter.TM. handle associated with user 110 (e.g.,
"@user110") and to determine that user 110 requested a proposed
trade order for a purchase of 100 shares of Microsoft.TM. common
stock at a current market price.
[0069] The disclosed embodiments are, however, not limited to
processes that parse user-specified comments associated with a
retweet or other social media message. In other embodiments, system
140 may be configured to parse not only comment data entered by
user 110, but also other textual and/or graphical portions of the
retweet or other social media message to extract trade parameters
(and additionally or alternatively, parameters of other
transactions or actions involving one or more securities).
[0070] For instance, as illustrated in FIG. 2C, user 110 may view
(e.g., through a web page or GUI presented by client device 104)
tweet 202) from the Wall Street Journal.TM. (@WSJ.TM.) related to a
presentation of Microsoft.TM.'s latest updates to their gaming
platform. In some aspects. As described above, user 110 may elect
to purchase additional shares of Microsoft.TM. common stock, and
may thus "retweet" tweet 202 to system 140 through the social
network along with trade parameters and predetermined content
indicative of user 110's interest in a purchase of or sale of the
securities (e.g., a hashtag or other specific content parseable by
system 140). By way of example, as depicted in FIG. 2C, user 110
may provide input to client device 104 that includes "#Trade"
within comment region 242 of retweet interface 240, and further,
that specifies an instruction to "Buy 100."
[0071] In some aspects, system 140 may identify and select the
retweet as a social media message requesting a proposed trade order
(e.g., in steps 304 and 306), and may parse the retweet to extract
one or more parameters of the proposed trade order (e.g., in step
308). For example, in step 308, system 140 may parse the retweet to
identify a Twitter.TM. handle associated with user 110 (e.g.,
"@user110") and to determine a type of transaction (e.g., a
purchase) and a share quantity (e.g., 100 shares) associated with
the proposed trade order. As described above, user 110 may specify
these determined trade parameters by providing input to client
device 104 for inclusion within comment region 242 (e.g., as
illustrated in FIG. 2C).
[0072] In further aspects, in step 308, system 140 may parse
additional portions of the retweet to identify additional
parameters of the proposed trade order. For example, system 140 may
parse textual content within the retweet to identify a name and/or
symbol of a security (e.g., textual content 260 identifying
Microsoft.TM.) for the proposed trade order. In other instances, in
step 308, system 140 may be configured to apply one or more optical
character recognition (OCR) processes to graphical and/or video
content within the retweet (or other selected social media message)
to identify additional or alternate parameters of the proposed
trade order. In further aspects, user 110 may provide input causing
client device 104 to capture an image of a UPC code, QR code,
and/or other two-dimensional code, which may be included within the
retweet or other social media message, and further, which may be
parsed by system 140 to identify a corresponding identifier of one
or more securities for inclusion within the proposed trade order.
Further, and by way of example, system 140 may process audio
content within the retweet (or other selected social media message)
in step 308 to identify additional or alternate parameters of the
proposed trade order.
[0073] In further aspects, system 140 may parse the selected social
media message (e.g., the retweet of prior tweet 202) to identify
common words that may be representative of values of one or more
trade parameters. For instance, system 140 may parse the selected
social media message to identify a presence of "long" or "short,"
and may further associate the presence of "long" or "short" with a
transaction to purchase or sell securities. In other instances, and
as described above, system 140 may parse a retweet to identify a
company name (e.g., Apple.TM.) and/or a name of a popular product
or service (e.g., iPhone.TM.), and based on the identified company,
product, and/or service name, device a corresponding symbol for a
security associated with the proposed trade order (e.g., AAPL for
shares of Apple.TM. common stock).
[0074] In further aspects, system 140 may parse the selected social
media message to identify specific words or combination of words
(e.g., $20 for a limit price, a day-for-a-day order, 100 for the
quantity, buy/sell, etc.) to populate the transaction fields of the
proposed trade order. Additionally or alternatively, system 140 may
parse the selected social media message to identify one or more
hashtags (e.g., #Trade, #Watch, #Virtual, etc.), which system 140
may associated with corresponding actions and/or transactions
involving one or more securities (e.g., transactions to purchase
and/or sell securities, adding securities to a watchlist, adding
securities to a virtual investment portfolio, etc.).
[0075] Additionally, and as described herein, system 140 may
substitute default values for one or more trade parameters (e.g.,
as established by user 110, system 140, a financial institution,
and/or business entity 150), and incorporate the substitute default
values into the proposed trade order. For example, if upon parsing
the selected social media message or retweet, system 140 were
unable to identify a price type for the transaction, system 140 may
establish the price type as the best market price. Additionally or
alternatively, if system 140 were unable to identify an expiration
of the proposed trade order and/or account data, system 140 may
substitute corresponding default values (e.g., a "good 'til day"
order for the expiration, a favorite account for the account data,
etc.) within the proposed trade order.
[0076] Upon parsing the selected social media message, system 140
may verify that user 110 is a customer of the financial institution
and further, that user 110 elected to participate in automated,
social-media-based trade order entry and execution processes (e.g.,
in step 310). In some aspects, system 140 may access profile data
associated with one or more customers of the financial institution
(e.g., as stored in data repository 144, above), and may compare
the identified Twitter.TM. handle against the accessed customer
profile data to verify that user 110 is a customer of the financial
institution. System 140 may also determine, based on accessed
profile data, whether user 110 elected to participate in automated,
social-media-based trade order entry and execution processes
[0077] For example, system 140 may determine that "@user110"
corresponds to a Twitter.TM. handle registered by a customer of the
financial institution and further, that the customer of the
financial institution elected to participate in automated,
social-media-based trade order entry and execution processes.
Accordingly, as the mobile Twitter.TM. application executed by
client device 104 previously authenticated user 110, system 140 may
determine that user 110 is verified in step 310.
[0078] Further, in other instances, system 140 may determine, based
on the accessed customer profile data, that the Twitter.TM. handle
"@user110" is not registered by any customers of the financial
institution. Alternatively, system 140 may determine that
"@user110" corresponds to a Twitter.TM. handle registered by a
customer of the financial institution, but the customer did not
elect participate in automated, social-media-based trade order
entry and execution processes. Accordingly, system 140 may not
verify user 110 in step 310.
[0079] If system 140 were to verify that user 110 is a customer of
the financial institution and that user 110 elected to participate
in the automated, social-media-based trade order entry and
execution processes (e.g., step 310; YES), system 140 may determine
whether the specified trade parameters are sufficient to populate a
proposed trade order (e.g., in step 312). By way of example, in
step 312, system 140 may deem the specified trade parameters as
sufficient to populate the proposed trade order when the specified
trade parameters include values of an "essential" number of trade
parameters, and additionally or alternatively, when system 140 may
assign default and/or previously specified values to at least the
essential trade parameters.
[0080] In one aspect, system 140 may populate a proposed trade
order with values of a number of trade parameters extracted from
the selected social media message (e.g., a retweet, etc,). In some
instances, and as described above, trade parameters consistent with
the disclosed embodiments may include, but are not limited to, an
identifier of a security (e.g., a name or a symbol), a quantity of
units of the security, a type of transaction associated with the
proposed trade order (e.g., a purchase or a sale of the security),
a price type associated with the transaction, an execution time for
the transaction, a floor and/or ceiling price for individual units
of the security or for the transaction, information specifying
whether a trade order should be sent to a market for execution
after an occurrence of a triggering event, a period of validity for
a trade order, and/or other special instructions that are used by
certain exchanges or marketplaces that dictate either the treatment
of a corresponding trade order and/or a relationship between user
110 and the security. Additionally or alternatively, and as
outlined above, the extracted trade parameters may also include
information specifying one or more accounts and/or account types
that provide funds facilitate an execution of proposed trade order
(e.g. that purchases securities) and/or that receive funds from an
executed trade order (e.g., that sells securities).
[0081] In some aspects, as described above, however, the financial
institution may establish that a subset of these trade parameters
are essential to generating the proposed trade order, and that the
non-essential trade parameters may be establish based on default
values and/or values specified within a corresponding customer
profile. By way of example, the financial institution and/or system
140 may establish that the name or symbol of the security, the
quantity of the security, and the type of transaction (e.g., a
purchase or a sale), and the price type associated with the
transaction represent essential parameters that must be present
within any request to populate a proposed trade order.
[0082] Further, in some instances, the financial institution may
establish default values for non-essential trade parameters (e.g.,
the execution time (e.g., as soon as possible) and the
floor/ceiling prices (e.g., none)). In other instances, the
non-essential trade parameters may include, but are not limited to,
an account and/or account types associated with the transaction,
information specifying whether a corresponding trade order should
be sent to a market for execution after an occurrence of a
triggering event, a period of validity for a corresponding trade
order, and/or other special instructions that are used by certain
exchanges or marketplaces that dictate the treatment of a
corresponding trade order and/or a relationship between user 110
and the security, for which system 140 may be configured to
establish default values using any of the exemplary techniques
described above. In some aspects, system 140 may be configured to
populate the proposed trade order with the default values assigned
to these non-essential terms unless the access customer profile
data indicates an alternate value.
[0083] For instance, system 140 may determine that the selected
social media message includes a request from user 110 to purchase
100 shares of Microsoft.TM. common stock. Further, based on stored
data (e.g., in data repository 144) and/or data accessible to
system 140 across network 120, system 140 may also be configured to
determine that the NASDAQ.TM. symbol for Microsoft.TM. common stock
is MSFT.TM.. In some aspects, system 140 may establish that user
110's request for a proposed trade order specified the name or
symbol of the security (e.g., MSFT.TM.), the number of units of the
security (e.g., 100 shares), and the type of transaction (e.g., a
purchase). Accordingly, system 140 may establish that the trade
parameters specified by user 110's request are sufficient to
populate a proposed trade order.
[0084] If system 140 were to determine that the specified trade
parameters include the essential trade parameters (e.g., step 312;
YES), system 140 may be configured to generate the proposed trade
order in accordance with the specified trade parameters (e.g., in
step 314). For example, as described above, user 110's social media
message requested a purchase of 100 shares of Microsoft.TM. common
stock. In certain aspects, system 140 may populate the proposed
trade order with the symbol of the requested security (e.g.,
MSFT.TM.), the number of units of the security (e.g., 100 shares),
and the type of transaction (e.g., a purchase). System 140 may also
access user 110's customer profile data to determine whether user
110 previously specified (e.g., within the preferences described
above) a desired price type (and additionally or alternatively, an
execution time and a desired floor/ceiling) price that would
override the default values previously established by the financial
institution and/or system 140.
[0085] By way of example, system 140 may determine that user 110's
customer profile data failed to specify a desired price type that
would override an established default value (e.g., a best price
available on a market). System 140 may, in certain aspects, further
populate the proposed trade order for the purchase of Microsoft.TM.
common stock with the default price type (e.g., the best price
available). Further, for example, system 140 may determine that
user 110's customer profile data specified neither a desired
execution time nor a desired floor/ceiling price that would
override the established default values. System 140 may, in certain
aspects, further populate the proposed trade order for the purchase
of Microsoft.TM. common stock with the default execution time
(e.g., as soon as possible) and the default floor/ceiling prices
(e.g., none).
[0086] Similarly, and as described above, user 110's social media
message (e.g., the retweet of tweet 202 of FIG. 2A) may include
predetermined content (e.g., a hash tag, such as #AcctUSMargin or
#AcctCADRRSP) linked to corresponding account within stored user
preference data (e.g., within data repository 144). In some
aspects, system 140 may identify the predetermined content, access
portions of the stored preference data mapping the predetermined
content to a corresponding account (or accounts) of user 110, and
populate the proposed trade order with the information identifying
the corresponding account. In other instances, when user 110's
social media message fails to include any account information,
system 140 may populate the proposed trade order with a "favorite"
account of user 110 (e.g., as specified by user 110 during a
registration process and stored by system 140 within data
repository 144), where proceeds of an executed trade order may be
placed in an appropriate currency and/or that includes appropriate
and sufficient funds to facilitate an execution of a trade order.
The disclosed embodiments are, however, not limited to the
exemplary essential trade parameters, exemplary non-essential trade
parameters, and exemplary default values specified above. In
further embodiments, the financial institution and/or system 140
may establish any additional or alternate essential trade
parameters, non-essential trade parameters, and default values
appropriate to the requested security and one or more back-end
trading systems associated with the financial institution and
accessible to system 140.
[0087] In certain aspects, system 140 may be configured to transmit
a notification of the populated proposed trade order to client
device 104 for presentation to user 110 (e.g., in step 316). The
notification may, for example, identify the populated parameters of
the proposed trade order, and system 140 may be configured to
provide the generated notification to social networking system 160
as a social media message directed to user 110 (e.g., as a tweet to
Twitter.TM. handle "@user110"). For example, as illustrated in FIG.
4A, system 140 may generate a notification 400 that specifies the
populated parameters of user 110's proposed trade order (e.g., "a
purchase of 100 shares of MSFT at a current market price"), and
further, prompts user 110 to confirm the accuracy of the populated
parameters and instruct user 110 to execute the trade order by
replying to the notification with the text "CONFIRM." In some
aspects, if user 110 were satisfied with the populated parameters
of the proposed trade order (e.g., as outlined in notification 400
of FIG. 4A), user 110 may reply to notification 400 with the text
"CONFIRM," which client device 104 may transmit to social
networking system 160 using any of the communications protocols
outlined above.
[0088] System 140 may be configured to receive a response to the
transmitted notification in step 318. For example, system 140 may
receive a response to the notification (e.g., notification 300
delivered to user 110 via Twitter.TM.) as a social media message
received through social networking system 160 in a corresponding
social-media data feed, as described above. Alternatively, system
140 may receive the response to the transmitted notification
provided as input by user 110 through a corresponding web page or
other interface associated with the financial institution, provided
by system 140, and presented to user 110 by client device 104.
[0089] If user 110 were to confirm the parameters of the proposed
trade order (e.g., step 320; YES), system 140 may be configured to
perform processes that execute a trade order in accordance with the
confirmed parameters of the proposed trade order (e.g., in step
322). By way of example, system 140 may establish communications
with one or more back-end order management systems, and may provide
the confirmed parameters of the proposed trade order to the one or
more back-end order management and electronic trading systems. In
certain instances, the one or more back-end order management and
electronic trading systems may initiate the trade order and
purchase the 100 shares of Microsoft.TM. common stock on behalf of
user 110.
[0090] In certain aspects, system 140 may be configured to transmit
a notification of the executed trade order for the purchase of the
100 shares of Microsoft.TM. common stock to client device 104 for
presentation to user 110 (e.g., in step 324). As described above,
system 140 may be configured to provide the generated notification
to social networking system 160 as a social media message directed
to user 110 (e.g., as a tweet to Twitter.TM. handle
"@user110").
[0091] System 140 may also be configured to determine whether
additional ones of the identified and stored social media messages
require analysis (e.g., in step 326). If system 140 were to
determine that additional social media message require analysis
(e.g., step 326; YES), then exemplary method 300 may pass back to
step 306, and an additional one of the stored social media messages
may be selected and analyzed using any of the exemplary techniques
outlined above. If, however, system 140 were to determine that no
additional social media messages require analysis, then exemplary
method 300 is complete in step 328.
[0092] Referring back to step 320, if system 140 fails to receive a
confirmation of the parameters of the proposed trade order (e.g.,
step 320; NO), system 140 may be configured to store information
identifying the proposed trade order (e.g., in data repository
144). In certain aspects, user 110 may access a web page or other
interface associated with the financial institution (e.g., as
provided by system 140 and presented by client device 104), and may
view the stored trade order within a corresponding portion of the
web page or interface (e.g., user 110's dashboard). User 110 may,
for example, delete the stored trade order from the dashboard and
additionally or alternatively, request execution of a trade order
in accordance with the parameters of the proposed trade order using
any of the exemplary techniques outlined above. Further, in
additional aspects, system 140 may be able access the dashboard
within the web page or interface and modify one or more of the
parameters of the proposed trade order before requesting execution.
Exemplary method 300 then passes to step 328, and system 140 may be
configured to determine whether additional ones of the identified
and stored social media messages require analysis, as described
above.
[0093] Referring back to step 312, if system 140 were to determine
that the specified trade parameters do not include at least the
essential trade parameters (e.g., step 312; NO), system 140 may be
configured to identify the one or more essential trade parameters
absent from the specified trade parameters, and transmit a
notification of the deficiency to client device 104 for
presentation to user 110 (e.g., in step 332). As described above,
the deficiency notification may identify the one or more missing
essential trade parameters and further, may prompt user 110 to
provide the missing essential trade parameters to system 140 in a
response to the deficiency notification.
[0094] In some aspects, system 140 may be configured to provide the
generated deficiency notification to social networking system 160
as a social media message directed to user 110 (e.g., as a tweet to
Twitter.TM. handle "@user110"). For instance, system 140 may
determine that the specified trade parameters identify a
transaction type (e.g., a purchase transaction) and a security name
(e.g., Microsoft.TM. common stock having symbol MSFT.TM.), but fail
to identify a number of desired shares. For example, as illustrated
in FIG. 4B, system 140 may deliver a deficiency notification 440 to
user 100 as a social media message (e.g., a tweet delivered to
client device 104 by social networking system 160) that identifies
the missing essential parameter (e.g., the desired quantity of
Microsoft.TM. common stock), and requests that user 110 retweet the
desired trade parameters in conjunction with the hashtag "#TRADE."
Referring back to FIG. 3, upon transmission of the deficiency
notification requesting the missing trade parameters, exemplary
method 300 may pass back to step 302, and system 140 may access and
monitor one or more feeds of social-media data received from social
networking system 160 using any of the exemplary techniques
outlined above.
[0095] Further, and referring back to step 310, if system 140 were
to determine that user 110 is not a customer of the financial
institution or alternatively, that user 110 is a customer of the
financial institution but did not elect to participate in the
disclosed automated, social-media-based trade order entry and
execution processes (e.g., step 310; NO), system 140 may be
configured to discard the selected social media message (e.g., in
step 330). In some aspects (not depicted in FIG. 3), system 140 may
be configured to parse the selected social media message to
identify information identifying one or more securities (e.g.,
using any of the exemplary techniques outlined above), and may add
the one or more securities to a virtual portfolio of user 110
and/or add the one or more securities to a watchlist of user 110,
and may track a performance of the one or more securities within
the virtual portfolio and/or the watchlist. In further aspects (not
depicted in FIG. 3), system 140 may be configured to transmit, to
user 110 using any of the exemplary techniques outlined above, a
notification to user 110 that invites user 110 to become a customer
of the financial institution and/or to opt-in and participate in
the disclosed automated, social-media-based trade order entry and
execution processes. Exemplary method 300 may pass back to step
326, and system 140 may determine whether additional ones of the
stored social media messages require analysis, as described
above.
[0096] In the embodiments described above, system 140, in
conjunction with social network system 150 and client device 104,
enable user 110 to request population of proposed trade orders,
view deficiencies in parameters specifying proposed trade order,
confirm execution of trade orders, and/or receive notifications of
executed trade orders via social-media messaging protocols that do
not require user 110 to access a web page or other interface
associated with the financial institution (e.g., as provided by
system 140 and presented by client device 104). These embodiments
enable user 110 to rapidly generate, confirm, and execute proposed
trade orders in response to information obtained from real-time
information sources, such as social networks, without require the
burden of traditional web-based trade-order entry processes. In
additional embodiments, however, user 110 may elect to access a web
page or other interface associated with the financial institution
(e.g., as provided by system 140 and presented by client device
104) to view, confirm, and request execution of a proposed trade
order within a corresponding portion of the web page or interface,
such as user 110's dashboard (e.g., in step 316 of FIG. 3), and
additionally or alternatively, to view confirmations of executed
trade orders (e.g., in step 324 of FIG. 3) and to view deficiency
notifications (e.g., in step 332 of FIG. 3).
[0097] In the embodiments described above, system 140 may be
configured to generate and transmit various notifications to user
110 as social media messages relayed through social networking
system 160 to client device 104. Depending on one or more privacy
settings of user 110's social-media account, the transmitted
notifications may be visible to not only user 110, but also to any
individual or entity linked to user 110 through the social network.
For example, as described above in FIG. 4A, system 140 may transmit
a tweet to user 110 (e.g., to user 110's Twitter.TM. handle
"@user110") confirming the parameters of the proposed trade order.
In some instances, depending on a privacy setting associated with
user 110's Twitter.TM. account, the transmitted tweet may be
visible to each of user 110's Twitter.TM. followers.
[0098] In some aspects, system 140 may configure social networking
system 160 to establish one or more privacy permissions for
notifications generated and transmitted as social media messages.
For example, system 140 may configure social networking system 160
e.g., through a corresponding API) to transmit the generated
notifications as messages visible only to user 110 (e.g., as a
"direct message" in Twitter.TM.). Additionally or alternatively,
system 140 may configure social networking system 160 to broadcast
generated notifications to group of users identified by user 110 as
being permitted to view the notifications (e.g., a trading group
established by user 110 in conjunction with social networking
system 160).
[0099] Further, as described above in reference to step 310 of FIG.
3, the disclosed embodiments enable system 140 to verify user 110's
identify based on an initial authentication of user 110 by social
networking system 160 (e.g., as system 140 requires social
networking system 160 to authenticate user 110 before forwarding
social media messages to the financial institution) and further, a
presence of user 110's social networking username or handle (e.g.,
user 110's Twitter.TM. handle "@user110") within customer profile
data maintained by system 140 within data repository 144. The
disclosed embodiments are not limited to these exemplary
verification techniques, and in further embodiments, system 140 may
rely on any additional or alternate techniques to verify an
identity of user 110 prior to populating a proposed trade
order.
[0100] By way of example, system 140 may assign a particular
alpha-numeric code to user 110 as a "hashtag" or social-media
password included in social media messages forwarded to the
financial institution in conjunction with comments requesting
purchases or sales of securities. In certain aspects, and upon user
110's registration for digital banking or investment services,
system 140 may generate and assign the social-media password to
user 110, and may provide the social-media password to user 110
through out-of-band secure transmission (e.g., by postal mail). For
instance, is user 110 were to request a purchase of securities by
retweet, system 140 may require that user 110 include, within the
comments of the retweet, the hashtag "#Trade" to indicate the
retweet represents a request to generate a proposed trade order,
the social-media or hashtag password, and the requested trade
parameters.
[0101] In some aspects, system 140 may parse the retweet upon
receipt (e.g., in step 308 of FIG. 3) to identify not only user
110's Twitter.TM. handle and the specified trade parameters, but
also to obtain a hashtag or social-media password entered by user
110 (e.g., in region 242 of FIGS. 2B and 2C). System 140 may be
configured to access an existing social-media password assigned to
user 110 (e.g., as stored within the customer profile data of data
repository 144), and to compare the assigned social-media password
against the social-media password obtained from the retweet to
verify user 110's identity (e.g., in step 310 of FIG. 3).
[0102] In further embodiments, client device 104 may be configured
to perform device-side authentication procedures before client
device 104 forwards a social media message requesting purchases or
sales of securities to system 160. For example, a social-networking
application executed by client device 104 (e.g., a mobile
Twitter.TM. app) may require a biometric authentication of user 110
upon initiating a retweet with comments requesting purchases or
sales of securities (e.g., a thumbprint validation performed by
Apple.TM. Touch ID.TM.). In some instances, client device 104 may
be configured to include information indicative of a successful
biometric authentication within a header of the retweet, which
system 140 may be configured to identify (e.g., in step 308 of FIG.
3) and use to further verify user 110's identity (e.g., in step
310). Further, in additional embodiments, system 140 may be
configured to verify user 110's identity in step 310 using any
additional or alternate authentication techniques, such as out-band
authentication techniques performed by existing systems associated
with system 140 or accessible to system 140 across network 120.
[0103] In the exemplary embodiments described above, system 140 may
be configured to execute a trade order in response to a
confirmation by user 110 of a proposed trade order populated based
on trade parameters specified by user 110 in a social media
message. In other embodiments, system 140 may not require
confirmation from user 110, and may instead immediately execute a
trade order based on a proposed trade order that include sufficient
trade parameters (e.g., step 312 of FIG. 3; YES) and further,
conforms to one or more preferences of user 110 as set forth in
customer profile data maintained by system 140. By way of example,
an in response to a successful generation of a proposed trade order
(e.g., in step 314 of FIG. 3), system 140 may access stored
customer profile data for user 110. In certain aspects, system 140
may determine whether user 110 specified that system 140 may
automatically execute populated trade orders without express
confirmation, and if so, whether user 110 limited the automatic
execution of proposed trade orders to those having trade parameters
that fall within user-specified threshold values (e.g.,
user-specified floor and/or ceiling prices, etc.) and/or that
involved predetermined securities (e.g., user-specified stocks,
etc.).
[0104] For example, based on the accessed customer profile data,
system 140 may determine that user 110 prefers automatic execution
of proposed trade orders when a total value of the transaction
(including fees), falls within a US $10,000 limit. If system 140
were to determine that a total value of the proposed trade order
(e.g., the proposed trade order for a purchase of 100 shares of
Microsoft.TM. common stock generated in step 314 of FIG. 3) falls
within the user-specific limit, system 140 may execute a trade
order based on the trade parameters set forth in the proposed trade
order without prior user confirmation (e.g., in step 322 of FIG. 3)
and transmit a notification of the executed trade order to client
device 104 (e.g., in step 324 of FIG. 3) using any of the exemplary
techniques outlined above.
[0105] In the embodiments described above, system 140 may generate
a proposed trade order based on data extracted from one or more
social media messages generated by user 110 and transmitted to
system 140 by client device 104. For example, user 110 may provide
input causing client device 104 to retweet a prior tweet with an
element of predetermined content (e.g., a hashtag "#Trade") that
identifies the retweet as a request for a proposed trade order and
causes system 140 to parse the retweet to extract trade parameters
for inclusion within the proposed trade order using any of the
exemplary techniques described above. The disclosed embodiments
are, however, not limited to transactions to purchase and/or sell
securities in accordance with parameters extracted from social
media messages, and in other embodiments, user 110 may include
predetermined content within social media messages (e.g., hashtags
within retweets) that cause system 140 to perform other actions
involving one or more securities based on parameters extracted from
the social media messages.
[0106] For example, user 110 may provide input to client device 104
that includes "#Virtual" within a retweet (e.g., within a comment
region 242 of retweet interface 200 of FIGS. 2B and 2C). In certain
aspects, and upon transmission of the retweet to a corresponding
social network, system 140 obtain the retweet using any of the
exemplary techniques described above, and based on the presence of
"#Virtual" within the retweet, determine that the retweet
represents a request from user 110 to add one or more securities to
a virtual portfolio held by user 110. Using any of the exemplary
techniques outlined above, system 140 may parse the obtained social
media message (e.g., the retweet) to identify information
identifying one or more securities for inclusion in the virtual
portfolio and one or more of the trade parameters (e.g., as
described above), and may modify portions of stored data to
establish the one or more securities within user 110's virtual
portfolio in accordance with the identified trade parameters. In
some aspects, while the virtual account of user 110 may operate in
a manner similar to one or more of user 110's actual investment
accounts, a balance associated with the virtual account is not
convertible an equivalent value in a denominated currency. Further,
virtual accounts consistent with the disclosed embodiments may
include fewer account properties designed to protect the ownership
of the value of comparable actual investment accounts, such as
ownership, tax treatment, power of attorney, trading authority,
etc.
[0107] In other aspects, user 110 may provide input to client
device 104 that includes "#Watch" within a retweet (e.g., within a
comment region 242 of retweet interface 200 of FIGS. 2B and 2C).
Upon transmission of the retweet to system 140 through a
corresponding social network, system 140 obtain the retweet using
any of the exemplary techniques described above, and based on the
presence of "#Watch" within the retweet, determine that the retweet
represents a request from user 110 to add one or more securities to
a watchlist maintained by system 140 on behalf of user 110. Using
any of the exemplary techniques outlined above, system 140 may
parse the obtained social media message (e.g., the retweet) to
identify information identifying one or more securities for
inclusion in the watchlist and one or more of the trade parameters
(e.g., as described above), and may modify portions of stored data
to establish the one or more securities within user 110's watchlist
in accordance with the identified trade parameters.
[0108] In certain instances, the stored data establishing the
watchlist (or watchlists) of user 110 may include a subset of the
data required to establish user 110's virtual investment portfolio
(e.g., a watchlist name, the list of securities being followed and
the current market price/other market data). In other aspects,
however, watchlist data consistent with the disclosed embodiments
and maintained by system 140 may include additional data that
provides functionality similar to that of user 110's practice
account (e.g., a quantity of the securities, sentiment information
(e.g., user 110's view of whether the securities will appreciate or
depreciate in value), information indicative of user 110's
intention to buy or sell one of the securities, a market price at
which one or more of the securities were added to user 110's
watchlist by system 140, and/or performance data indicative of a
performance of one or more of the securities since their addition
to the watchlist and corresponding profits/losses against user
110's prediction).
[0109] The disclosed embodiments are, however, not limited to
actions that include adding securities to virtual portfolios and
adding securities to watchlists. In further embodiments, user 110
may provide input to client device 104 that adds predetermined
content and/or hashtags to social media messages and retweets
indicative of request by user 110 to perform additional or
alternative actions involving one or more securities, such as
charting a performance of the one or more securities and/or
generating a quote for the one or more securities.
[0110] Further, although the described in terms of particular
social networks (e.g., Twitter.TM.), the disclosed exemplary
embodiments are not limited to any particular social network. In
additional embodiments, the exemplary automated, social-media-based
trade order entry and execution processes describe above may
operate in conjunction with any additional or alternate social
network apparent to one of skill in the art and accessible to
system 140 through social networking system 160, including, but not
limited to, Facebook.TM., FourSquare.TM., LinkedIn.TM., Tumblr.TM.,
and Instagram.TM..
[0111] Various embodiments have been described herein with
reference to the accompanying drawings. It will, however, be
evident that various modifications and changes may be made thereto,
and additional embodiments may be implemented, without departing
from the broader scope of the disclosed embodiments as set forth in
the claims that follow.
[0112] Further, other embodiments will be apparent to those skilled
in the art from consideration of the specification and practice of
one or more embodiments of the present disclosure. It is intended,
therefore, that this disclosure and the examples herein be
considered as exemplary only, with a true scope and spirit of the
disclosed embodiments being indicated by the following listing of
exemplary claims.
* * * * *