Integral Development, a leading provider of FX trading solutions and services, announced today the issuance of U.S. patent No. 7,882,011, titled "Systems and Methods of Conducting Financial Transactions."
The recently issued patent, in general covers electronically sourcing prices from multiple locations, the aggregation and sorting of these prices, and a possible second sort based on even more detailed user-defined preferences.
"We are very proud to have received this patent," said Harpal Sandhu, CEO, Integral Development Corp. "This invention provides yet another validation of the technological innovation that Integral has been bringing to the market since 1993 for the benefit of its business partners."
This patent complements Integral's US Patent 6,347,307 titled "System and Method for Conducting Web-based Financial Transactions in Capital Markets", which among other innovation covers the use of tag based languages (XML) in the electronic negotiation, execution and settlement of OTC financial products over the Internet.
Added Sandhu, "OTC markets are by definition fragmented in part, yet require connectivity in order to be integrated with computing systems. Therefore, technologies that assist with the defining of complex transactions in computer-readable languages, and orchestrate the aggregation process, are at the heart of what electronic trading is all about. We look forward to partnering with others who might benefit from the use of this technology."