Systems and methods for providing financial data to financial instruments in a distributed ledger system

Patent metadata

Field	Value
Publication number	US-11526938-B2
Application number	US-201715473127-A
Country	US
Kind code	B2
Filing date	Mar 29, 2017
Priority date	Mar 31, 2016
Publication date	Dec 13, 2022
Grant date	Dec 13, 2022

Abstract

An embodiment of a method of providing financial data to a financial instrument smart contract in a distributed ledger system includes: receiving, by an oracle smart contract in the distributed ledger system, a transaction from the financial instrument smart contract, the transaction including registration data having an identification of financial data to be delivered and an identification of a schedule on which to deliver the financial data; generating a transaction including the financial data; and transmitting the generated transaction to at least one distributed node of the distributed ledger system according to the requested schedule.

First claim

What is claimed is:

1. A method of providing financial data from outside of a distributed ledger system to a financial instrument smart contract executing in a distributed ledger system, the distributed ledger system not providing any direct communication between smart contracts executing in the distributed ledger system and data sources external to the distributed ledger system, the distributed ledger system including a plurality of distributed nodes, each distributed node including at least one processor and at least one non-transitory storage medium, the financial instrument smart contract including program instructions configured to perform a financial transaction, the financial transaction requiring specific financial data to close, the at least one non-transitory storage medium of at least one of the distributed nodes storing the financial instrument smart contract, the at least one processor of the at least one distributed node configured to execute the program instructions of the financial instrument smart contract, the method comprising:
receiving, by an oracle smart contract, a first transaction from the financial instrument smart contract, the first transaction including a request for delivery of the specific financial data to the financial instrument smart contract, the request including registration data having an identification of the specific financial data to be delivered and an identification of a schedule on which to deliver the specific financial data, wherein the financial instrument contract represents at least one of: a foreign exchange market binary option contract, a contract for overnight financing fee difference, a group of assets including a plurality of stocks, or an index future contract;
storing, by the oracle smart contract during execution of the oracle smart contract by the distributed ledger system, the received registration data, including the identification of the specific financial data and the identification of the schedule, in a registration data structure of the oracle smart contract in a new ledger structure of the distributed ledger system in the non-transitory storage medium of the at least one distributed node;
wherein the oracle smart contract includes program instructions, the at least one non-transitory storage medium of the at least one distributed node storing the oracle smart contract, the at least one processor of the at least one distributed node configured to execute the program instructions of the oracle smart contract;
monitoring, by an oracle server system outside of the distributed ledger system, creation of ledger structures by the distributed ledger system to detect the new ledger structure;
in response to detecting the new ledger structure of the distributed ledger system being created, retrieving, by the oracle server system, the registration data from the new ledger structure, the retrieving including invoking a read function of the oracle smart contract to read the registration data from the registration data structure of the oracle smart contract;
in response to a trigger condition based on the requested schedule occurring, performing, by the oracle server system, at least one of: retrieving the requested financial data from a financial data system, or calculating the requested financial data;
generating, by the oracle server system, a second transaction including the financial data, the second transaction including the financial data being addressed to the oracle smart contract;
transmitting, by the oracle server system, the generated second transaction to at least one distributed node of the distributed ledger system at a time according to the requested schedule, wherein the transmitting the second transaction to the at least one distributed node causes the oracle smart contract to execute;
wherein the oracle server system includes at least one processor configured to control the retrieving, performing, generating and transmitting by the oracle server system; and
the executing of the oracle smart contract in response to the second transaction includes at least one of: invoking by the oracle smart contract a financial data function of the financial instrument smart contract to deliver the financial data to the financial instrument smart contract, or generating and transmitting by the oracle smart contract a third transaction addressed to the financial instrument smart contract to deliver the financial data to the financial instrument smart contract;
wherein the invoking by the oracle smart contract the financial instrument smart contract or the transmitting by the oracle smart contract the third transaction to the financial instrument smart contract causes the financial instrument smart contract to execute and triggers a function of the financial instrument smart contract to close the financial transaction based on the financial data, wherein closing the financial instrument contract based on the financial data includes at least one of: closing the foreign exchange market binary option contract based on a currency pair price included in the financial data, closing the contract for overnight financing fee difference based on a difference in a financing fee included in the financial data, closing a transaction for the group of assets including the plurality of stocks based on prices for the plurality of stocks included in the financial data, or closing some or all of one or more positions of the index future contract based on an index value included in the financial data.

2. The method of claim 1 , wherein the distributed ledger system is a blockchain system, and the ledger structure is a block of the blockchain system.

3. The method of claim 1 , further comprising:
decrypting, by the oracle server system, the retrieved registration data;
storing the decrypted registration data in a database of the oracle server system; and
configuring the oracle server system to deliver the requested financial data on the requested schedule.

4. The method of claim 1 , further comprising:
monitoring, by the oracle server system, for occurrence of the trigger condition based on the requested schedule.

5. The method of claim 4 , further comprising encrypting the requested financial data.

6. The method of claim 5 , wherein the encrypting is performed using at least one of: public-key encryption, zero-knowledge proofs, homomorphic encryption, or ring signatures.

7. The method of claim 1 , wherein the identification of the financial data includes a code identifying at least one specific type of financial data.

8. The method of claim 1 , wherein the identification of the financial data includes at least one instrument code.

9. The method of claim 1 , wherein the identification of the financial data includes an identification of at least one of: an equity, a financial index, a commodity future, or interest rate.

10. The method of claim 1 , wherein the identification of the financial data further includes an identification of a calculation to be performed based on at least one specific type of financial data.

11. The method of claim 1 , wherein the identification of the schedule on which the financial data is to be delivered includes a time at which the financial data is to be delivered.

12. The method of claim 1 , wherein the identification of the schedule on which the financial data is to be delivered includes at least one of: a minute at which the financial data is to be delivered, an hour at which the financial data is to be delivered, a day at which the financial data is to be delivered, or a month at which the financial data is to be delivered.

13. The method of claim 1 , wherein the identification of the schedu

Assignees

• Refinitiv Us Organization Llc

Inventors

• Nugent Tim

Classifications

• H04L2209/56

  Financial cryptography, e.g. electronic payment or e-cash · CPC title

• G06Q20/223

  based on the use of peer-to-peer networks · CPC title

• G06Q2220/00

  Business processing using cryptography · CPC title

• G06Q20/08

  Payment architectures · CPC title

• H04L9/3239

  involving non-keyed hash functions, e.g. modification detection codes [MDCs], MD5, SHA or RIPEMD · CPC title