Deborah M Howard

US Patent:

62693468, Jul 31, 2001

Filed:

Aug 31, 1999

Appl. No.:

9/386987

Inventors:

John Cristofich - Bridgewater NJ
Susan Warner - Hamilton NJ
Deborah Howard - Jackson NJ
Karen Berkley - Franklin Park NJ

Assignee:

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

International Classification:

G06F 1760

US Classification:

705 37

Abstract:

A system and method for managing a plurality of stock option accounts each for a plurality of participants. The system invokes a particular option plan defined in the system that governs the transaction choices available to each participant. The governing option plans are defined by the sponsoring company in terms of grant, vest and expiration date for the option contracts, and are defined in the system via a database of option holding information for each participant and an axiomatic rule system defining the criteria under which a given participant can exercise given options under the particular plan. The system implements the plans for multiple client companies providing several distinct modes for option exercise by the participant. The system preferably also allows for disbursement of proceeds in a currency different than that in which the underlying security for the option is traded, real time execution of the option transaction, and/or simulating the outcomes of different manners in which the participant may exercise vested options and the resulting economic outcome (disbursement, taxes, transaction fees).

US Patent:

61732702, Jan 9, 2001

Filed:

Sep 23, 1997

Appl. No.:

8/935709

Inventors:

John Cristofich - Bridgewater NJ
Susan Warner - Hamilton NJ
Deborah Howard - Jackson NJ
Karen Berkley - Franklin Park NJ
Eric Radcliffe - Kendall Park NJ

Assignee:

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

International Classification:

G06F 1760

US Classification:

705 37

Abstract:

A system and method for managing a plurality of stock option accounts each for a plurality of participants. The system invokes a particular option plan defined in the system that governs the transaction choices available to each participants The governing option plans are defined by the sponsoring company in terms of grant, vest and expiration date for the option contracts, and are defined in the system via a database of option holding information for each participant and an axiomatic rule system defining the criteria under which a given participant can exercise given options under the particular plan. The system implements the plans for multiple client companies providing several distinct modes for option exercise by the participant. The system preferably also allows for disbursement of proceeds in a currency different than that in which the underlying security for the option is traded, real time execution of the option transaction, and/or simulating the outcomes of different manners in which the participant may exercise vested options and the resulting economic outcome (disbursement, taxes, transaction fees).