Prior art — US Patent 11620701

To identify the most relevant prior art for US patent 11620701, I will examine the "Patent Citations" section of the patent itself. This section lists the prior art considered by the patent examiner during prosecution.

Here are the prior art references cited in US Patent 11620701, along with their details and potential anticipation:

Patent Citations for US11620701B1:

US6772131B1
- Full Citation: US6772131B1 - Distributed, object oriented global trade finance system with imbedded imaging and work flow and reference data
- Publication Date: August 3, 2004
- Filing Date: February 1, 1999
- Brief Description: This patent describes a distributed, object-oriented global trade finance system. It focuses on managing trade finance, including embedded imaging and workflow, and reference data.
- Potential Anticipation (35 U.S.C. § 102): This patent appears to address aspects of a global trading system and may anticipate general concepts of a platform for financial transactions. Its relevance to the specific dynamic currency conversion and transactional-level settlement of US11620701B1 would need a detailed claim-by-claim analysis, but it could potentially anticipate the broader idea of a networked system for international finance.
US20040210512A1
- Full Citation: US20040210512A1 - Systems and methods for trading
- Publication Date: October 21, 2004
- Filing Date: April 30, 1999
- Brief Description: This publication details systems and methods for trading, which likely includes electronic trading platforms.
- Potential Anticipation (35 U.S.C. § 102): Given its broad title, this reference could potentially anticipate elements of a general electronic trading system as described in US11620701B1's independent claims (e.g., a trading server, client machine, order placement). However, the specific features of dynamic, real-time currency conversion for display and transactional settlement would require closer examination to determine if they are present.
US20020161692A1
- Full Citation: US20020161692A1 - Method and system for facilitating foreign currency exchange transactions over a network
- Publication Date: October 31, 2002
- Filing Date: February 26, 2001
- Brief Description: This patent describes a method and system for facilitating foreign currency exchange transactions over a network.
- Potential Anticipation (35 U.S.C. § 102): This reference is highly relevant as it explicitly deals with foreign currency exchange over a network. It could potentially anticipate aspects of US11620701B1 relating to coupling with a currency exchange server and receiving exchange rates. A detailed comparison would be needed to see if it teaches the dynamic display of costs in a preferred currency that change even when the asset value is constant, and the transactional-level settlement using a new prevailing rate at the exact moment of execution, as claimed in claims 1 and 8 of US11620701B1.
US20040215539A1
- Full Citation: US20040215539A1 - Foreign exchange covered warrant system and structure
- Publication Date: October 28, 2004
- Filing Date: June 19, 2001
- Brief Description: This publication concerns a foreign exchange covered warrant system and its structure.
- Potential Anticipation (35 U.S.C. § 102): This reference relates to foreign exchange instruments. While it involves currency, its focus on "covered warrants" might differentiate it from the broader asset trading and dynamic pricing aspects of US11620701B1. However, any system for managing foreign exchange exposure could potentially overlap with the currency conversion mechanisms.
US20070174181A1
- Full Citation: US20070174181A1 - Method and system for providing foreign exchange price information and hedge
- Publication Date: July 26, 2007
- Filing Date: February 21, 2002
- Brief Description: This patent describes a method and system for providing foreign exchange price information and hedging.
- Potential Anticipation (35 U.S.C. § 102): This reference is also highly relevant due to its focus on foreign exchange price information. It could potentially anticipate the "receiving a prevailing currency exchange rate" and "converting the price" steps in claims 1 and 8. The key distinguishing features of US11620701B1 regarding dynamic display and real-time transactional settlement would need to be carefully compared to the teachings of this reference.
US20040098334A1
- Full Citation: US20040098334A1 - Foreign currency index
- Publication Date: May 20, 2004
- Filing Date: October 31, 2002
- Brief Description: This publication discusses a foreign currency index.
- Potential Anticipation (35 U.S.C. § 102): While related to foreign currency, this patent's focus on an "index" might be distinct from the transactional trading platform of US11620701B1. However, if the index is used in determining exchange rates for actual transactions, it could have some indirect relevance to the broader context of currency information.
US20040143536A1
- Full Citation: US20040143536A1 - Method and system for trading a foreign exchange swap certificate
- Publication Date: July 22, 2004
- Filing Date: January 17, 2003
- Brief Description: This patent describes a method and system for trading foreign exchange swap certificates.
- Potential Anticipation (35 U.S.C. § 102): This reference is relevant as it describes trading specific foreign exchange instruments. It could potentially anticipate aspects of asset trading in different currencies. A detailed analysis would be required to see if it teaches the dynamic display and real-time transactional settlement features of US11620701B1.
US20040236664A1
- Full Citation: US20040236664A1 - Automatic generation of an order in an instrument in a specified currency
- Publication Date: November 25, 2004
- Filing Date: May 23, 2003
- Brief Description: This publication describes the automatic generation of an order in an instrument in a specified currency.
- Potential Anticipation (35 U.S.C. § 102): This reference is highly relevant as it describes order generation in a specified currency. This could potentially anticipate the step of determining a preferred currency and initiating an order in that currency as described in claims 1 and 8 of US11620701B1. The novelty of US11620701B1 may lie in its specific combination of dynamic display and real-time transactional settlement with a new exchange rate at the moment of execution.
US20060095361A1
- Full Citation: US20060095361A1 - Methods and apparatus for automatic settlement of foreign securities trades in trader's operating currency
- Publication Date: May 4, 2006
- Filing Date: October 29, 2004
- Brief Description: This patent describes methods and apparatus for automatic settlement of foreign securities trades in a trader's operating currency.
- Potential Anticipation (35 U.S.C. § 102): This is a very strong prior art candidate. It directly addresses automatic settlement of foreign securities trades in a trader's operating currency, which closely aligns with the preferred currency concept in US11620701B1. This reference could potentially anticipate the "conversion of the proceeds of the transaction into the preferred currency on the currency exchange" recited in both independent claims. The key for US11620701B1's novelty would be to demonstrate that its dynamic display of costs and fees before the transaction, which changes even if the market value of the asset is unchanged, and the settlement based on a second prevailing exchange rate calculated right before the transaction, are not taught or rendered obvious by this reference.
US20090271325A1
- Full Citation: US20090271325A1 - Trading system and method
- Publication Date: October 29, 2009
- Filing Date: October 29, 2004
- Brief Description: This publication describes a trading system and method.
- Potential Anticipation (35 U.S.C. § 102): Similar to US20040210512A1, this broadly covers trading systems. Its relevance would depend on whether it teaches the specific currency conversion and display features of US11620701B1's independent claims. Given its later publication date than some other relevant references, its filing date in 2004 would be important for prior art determination against the 2007 priority date of US11620701B1.
US20060173771A1
- Full Citation: US20060173771A1 - Foreign currency exchange
- Publication Date: August 3, 2006
- Filing Date: February 2, 2005
- Brief Description: This patent application describes foreign currency exchange.
- Potential Anticipation (35 U.S.C. § 102): This reference's broad title suggests it deals with foreign currency exchange. It would require a close reading to determine if it discloses the dynamic display of costs in a preferred currency, the use of a real-time exchange rate for settlement, and the non-identity of displayed vs. executed costs due to this real-time capture, as claimed in US11620701B1.
US20070043648A1
- Full Citation: US20070043648A1 - Foreign exchange trading platform
- Publication Date: February 22, 2007
- Filing Date: June 10, 2005
- Brief Description: This patent describes a foreign exchange trading platform.
- Potential Anticipation (35 U.S.C. § 102): This reference is highly relevant as it describes a "foreign exchange trading platform." This could potentially anticipate many aspects of the system described in US11620701B1. The distinguishing features of US11620701B1, particularly the dynamic display of asset trading costs in a preferred currency that fluctuate with exchange rates even if the asset price is stable, and the real-time settlement rate, would need to be carefully compared to this reference.
US20070118459A1
- Full Citation: US20070118459A1 - System and method for centralized clearing of over the counter foreign exchange instruments
- Publication Date: May 24, 2007
- Filing Date: November 18, 2005
- Brief Description: This patent describes a system and method for centralized clearing of over-the-counter (OTC) foreign exchange instruments.
- Potential Anticipation (35 U.S.C. § 102): This reference focuses on clearing foreign exchange instruments. While it involves foreign exchange, its emphasis on "centralized clearing" for OTC instruments might distinguish it from the broader "platform for trading assets" of US11620701B1, especially regarding the direct interaction of a trader with displayed, dynamically updated costs for assets that are not necessarily OTC FX instruments.
US20070198331A1
- Full Citation: US20070198331A1 - System and method for monitoring trading manager performance
- Publication Date: August 23, 2007
- Filing Date: January 31, 2006
- Brief Description: This publication describes a system and method for monitoring trading manager performance.
- Potential Anticipation (35 U.S.C. § 102): This reference appears less directly relevant to the core claims of US11620701B1, which focus on the mechanics of trading assets in different currencies and displaying costs. Its focus on "monitoring trading manager performance" is a different aspect of financial systems.
US20080140547A1
- Full Citation: US20080140547A1 - Methodologies and systems for trade execution and recordkeeping in a fund of hedge funds environment
- Publication Date: June 12, 2008
- Filing Date: December 6, 2006
- Brief Description: This publication describes methodologies and systems for trade execution and recordkeeping within a fund of hedge funds environment.
- Potential Anticipation (35 U.S.C. § 102): Similar to US20070198331A1, this reference seems less directly relevant. Its focus on "fund of hedge funds environment" and "recordkeeping" distinguishes it from the fundamental process of presenting dynamically priced assets in a preferred currency and executing trades with real-time currency conversion as claimed in US11620701B1. Its publication and filing dates are also later than the priority date of US11620701B1, making it less likely to be anticipatory unless it claims an earlier priority date itself.

Most Relevant Prior Art:

Based on the brief descriptions, the most relevant prior art references that could potentially anticipate claims in US11620701B1 are:

US20060095361A1: "Methods and apparatus for automatic settlement of foreign securities trades in trader's operating currency." This reference directly addresses automatic settlement in the trader's preferred currency.
US20020161692A1: "Method and system for facilitating foreign currency exchange transactions over a network." This patent explicitly deals with networked foreign currency exchange.
US20070174181A1: "Method and system for providing foreign exchange price information and hedge." This reference focuses on providing foreign exchange price information.
US20040236664A1: "Automatic generation of an order in an instrument in a specified currency." This reference describes order generation in a specified currency.
US20070043648A1: "Foreign exchange trading platform." This reference broadly covers foreign exchange trading platforms.

These references are particularly strong as they address various aspects of foreign currency exchange and trading in different currencies. The key to patentability for US11620701B1 would lie in demonstrating that its specific combination of:

Calculating and dynamically displaying costs and fees in a preferred currency that change with the first prevailing exchange rate even if the asset's market value remains unchanged.
Executing a transaction and reaching a settlement based on a second prevailing exchange rate calculated right before the transaction takes place.
The explicit statement that the executed costs and fees in the settlement are not identical to the displayed costs and fees due to this real-time capture.

These specific features, particularly the dynamic display independent of asset price changes and the distinction between the "first prevailing exchange rate" for display and the "second prevailing exchange rate" for settlement, would need to be thoroughly distinguished from the teachings of these prior art documents.