Financial market classification system

Abstract

A system for classifying investment products into a set of hierarchical buckets based on existing CUSIP numbers and other prospectus information is disclosed herein. A bucket is an investment product classification that uniquely and consistently identifies an investment product type. In the preferred embodiment, there are buckets to classify individual securities and mutual funds into product, asset and fund types. Each bucket is a unique combination of product, asset or fund codes. Unique combinations of the actual codes define a particular bucket. Thus, the present invention provides a standard classification system into which all investment products can be categorized and grouped. Three sets of hierarchical investment buckets are created to provide a standard set of both general and detailed investment buckets. Each set of buckets is directed to a specific classification purpose: a set of product buckets, a set of asset buckets, and a set of fund buckets. The present invention uses CUSIP numbers as the keys for aggregating securities into a standard set of product buckets, asset buckets and fund buckets. The present invention uses the standard product buckets, asset buckets and fund buckets to classify investment positions.

Claims

What is claimed is:

1. A method of classifying investment related data comprising the steps of:

generating a CUSIP classification file from a CUSIP data file comprising a plurality of CUSIP numbers, by assigning each of said CUSIP numbers to one of a plurality of security classifications; and

generating a recoded position database by mapping a position database to said CUSIP classification file, based on CUSIP number, wherein said position database includes a plurality of investment positions, wherein each of said investment positions comprises position information comprising a CUSIP number, information describing the holder of said investment position and investment related data.

2. The method of claim 1, further comprising the step of preprocessing said position database to identify the unique combinations of said position information.

3. The method of claim 1, wherein said CUSIP data file is an external file provided by a third-party vendor.

4. The method of claim 1, further comprising the step of summarizing said recoded position database by identifying non-unique combinations of said position information.

5. The method of claim 1, wherein said recoded position database comprises a plurality of records and further comprising the step of compressing said recoded position database by summarizing said plurality of records within said recoded position database into single records based on unique combinations of position information.

6. The method of claim 1, further comprising the step of aggregating a plurality of said recoded position databases to generate an aggregate position database, wherein said recoded position databases are associated with a plurality of different financial institutions.

7. The method of claim 6, further comprising the step of analyzing each of said recoded position databases with respect to said aggregate position database.

8. A method for analyzing data from a plurality of financial institutions comprising the steps of:

generating a plurality of recoded position databases, wherein each of said recoded position databases is generated by mapping a position database based on CUSIP number to a CUSIP classification file, wherein said position database includes a plurality of investment positions, wherein each of said of investment positions comprises position information comprising a CUSIP number, information describing the holder of said investment position and investment related data, wherein said recoded position databases are associated with a plurality of financial institutions;

aggregating said plurality of recoded position databases to generate an aggregate position database; and

analyzing each of said recoded position databases with respect to said aggregate position database.

9. The method of claim 8, further comprising the step of generating said CUSIP classification file from a CUSIP data file comprising a plurality of CUSIP numbers by assigning each of said CUSIP numbers to one of a plurality of security classifications.

Description

BACKGROUND OF THE INVENTION

1. Field of the Invention

This invention relates generally to financial information systems and, more specifically, to a system and method for classifying financial investments according to detailed information characterizing investment securities.

2. Related Art

Each time a security is offered, whether it is a new security or an additional new offering of an existing security, it is referred to as an "issue" in financial parlance. The issue may be in the form of a stock, bond, mutual fund or any other investment product. An investment position represents the number of shares or amount of assets invested in a specific issue. An investment account represents one or more investment positions owned by a single account.

As a method for tracking security issues, Standard & Poor's (S&P) provides a series of unique 8-digit alphanumeric values, one of which values may be acquired by the issuer of a security as a unique permanent identifier. This value is referred to as a Committee on Uniform Securities Identification Procedures number (CUSIP number). Publicly traded issues are identified by CUSIP numbers, and financial institutions maintain the CUSIP number on all applicable investment position records to identify the security owned.

The CUSIP number, by itself, does not provide sufficient information to identify the type of an issue. However, additional information pertaining to the issue can be researched and determined from its offering prospectus. Using this additional information, a security can be classified or grouped.

For example, contemporary financial institutions such as Merrill Lynch use categories to track the types of securities they sell. Each financial institution assigns securities to internally generated categories based on prospectus review. These internal categories are unique to each institution, and assignments are not necessarily consistently made, nor are the categories regularly updated. As a result, coding errors and errors of omission occur. Moreover, certain securities may have to be force-fit into inappropriate categories. A maintainable, verifiable, consistent method for making category assignments would overcome the above-stated problems and would permit cross-industry comparative analysis.

As another example, Lipper Analytical Services has developed a scheme, called Lipper Investment Objectives, which classifies a subset of securities, namely mutual funds (funds), according to each fund's portfolio mix, as specified in its prospectus. The Lipper Investment Objectives permit fund marketers to compare their proprietary funds with others that have similar portfolio mixes. The Wall Street Journal publishes the changes in performance of various categories of Lipper Investment Objectives in the Money and Investing section of its daily newspaper. Because this scheme is not based on CUSIP numbers, but rather issuer name and fund title, it does not permit financial institutions to classify investment positions.

There is a need, therefore, for a process that systematically classifies financial securities based on CUSIP number. Such a process should group investment products into both detailed and general categories such that users can identify narrowly-defined security types, as needed, but also re-combine standard detailed categories into custom product categories suitable to their specific purposes.

SUMMARY OF THE INVENTION

The present invention solves the above-stated problems by providing a systematic process for classifying investment positions based on CUSIP number. The present invention classifies investment securities using sets of hierarchical bucket codes based on the investment securities' CUSIP numbers and prospectus information.

A bucket is an investment product classification that uniquely and consistently identifies an investment product type. In the preferred embodiment, there are buckets to classify individual securities and mutual funds into security product types, asset classes and mutual fund types, herein referred to as product, asset and fund types. Thus, the present invention provides a standard classification system into which all investment securities can be categorized and grouped.

The present invention provides three sets of hierarchical investment product bucket codes that define a standard set of both general and detailed investment product buckets: a set of product buckets, a set of asset buckets, and a set of fund buckets. Each set of buckets is directed to a specific classification purpose. The present invention uses CUSIP numbers as the keys for classifying and aggregating investment products into these standard sets of product buckets, asset buckets and fund buckets.

In operation, the present invention receives a financial institution's client investment database in an internal format specific to the financial institution. The present invention parses the individual investment positions within each investment account and then reclassifies the individual investment positions, based on the CUSIP number, into product buckets, asset buckets, and fund buckets. In the preferred embodiment, the hierarchical bucket codes that make up each bucket provide both a general level and a detailed level of classification, thereby affording the financial institution flexible and vital information on its clients' investments.

The classifications generated by the present invention are extremely accurate for three reasons. First, they are derived from the financial institution's raw client data at the position level (i.e., the financial institution's data have not been pre-summarized). Since the financial institution does not pre-summarize the client data, there is no opportunity for the financial institution to introduce additional errors. Second, the classification of the position information is based upon the CUSIP number, resulting in consistent classification across multiple financial institutions. Third, the present invention performs error checking during the generation of the reclassification by verifying each bucket into which an investment position is assigned, as well as by verifying all combined investment positions in terms of buckets and amount of assets within each bucket.

The present invention also provides a financial institution with the ability to generate a custom security classification system based on the product, asset, and fund bucket codes. Once its investment positions have been reclassified, a financial institution may combine a plurality of bucket codes to generate a unique classification level specific to the internal needs of the financial institution.

The present invention also provides the ability to combine the reclassified investment positions of multiple financial institutions into an aggregate file. Using the aggregate file, a financial institution can determine the market of investment products at both general and detailed levels. The aggregated investment positions are also partitioned according to ZIP code, account type, account size, and account year. Therefore, each financial institution participating in the aggregate file can review its relative market share for selected investment products within a specific geographical area or classification of accounts.

Additional features of this invention will become apparent from the following detailed description of the best mode for carrying out the invention and from appended claims.

BRIEF DESCRIPTION OF THE FIGURES

The present invention is described with reference to the accompanying drawings. In the drawings, like reference numbers indicate identical or functionally similar elements. Additionally, the left-most digit(s) of a reference number identifies the drawing in which the reference number first appears.

FIG. 1 illustrates the flow of Lipper Investment Objectives to the CUSIP classification file;

FIG. 2 illustrates the flow of product, fund and asset bucket codes from a bucket database to the CUSIP classification file;

FIG. 3 illustrates the summarization process for position database data verification;

FIG. 4 illustrates the flow of fund, product and asset bucket codes from the CUSIP classification file to a position database;

FIG. 5 is a control flow diagram representing an overview of the operation of the investment product reclassification and aggregation process;

FIG. 6 is a control flow diagram representing the creation of a position database from a raw position text file;

FIG. 7 is a control flow diagram representing the process of summarizing the position database;

FIG. 8 is a control flow diagram representing the process of verifying the position database information;

FIG. 9 is a control flow diagram further illustrating the process of verifying the position database information;

FIG. 10 is a control flow diagram representing the process of recoding the CUSIP classification file with product, asset and fund bucket codes;

FIG. 11 is a control flow diagram representing the operation of recoding the CUSIP classification file with fund bucket codes;

FIG. 12 is a control flow diagram representing the operation of recoding the CUSIP classification file with product bucket codes;

FIG. 13 is a control flow diagram representing the operation of recoding the CUSIP classification file with asset bucket codes;

FIG. 14 is a control flow diagram representing the operation of recoding the position database with fund, product and asset bucket codes from the CUSIP classification file;

FIG. 15 is a control flow diagram representing the process of summarizing the recoded position database;

FIG. 16 is a control flow diagram representing the process of aggregating the recoded position databases into an aggregate file;

FIG. 17 is a block diagram illustrating an exemplary computer system used for implementing the present invention;

FIG. 18 illustrates how the present invention can be used for geographical analysis of the product of the present invention;

FIG. 19 illustrates how the present invention can be used for bar graph analysis of the product of the present invention;

FIGS. 20-24 illustrates how the present invention can be used for table analysis of the product of the present invention;

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS

1. High Level Description of the System Implementation

The present invention is directed to the reclassification, based on CUSIP number, of investment products in an investment position file. It should be understood, however, that the present invention is equally applicable to CUSIP-identified financial information other than investment position data. Examples of other CUSIP-identified financial information are: mutual fund sales transactions, investment transactions, commission or revenue credits, etc.

An investment position represents the number of shares or amount of money invested in a specific security held in a specific account, owned by a specific entity. An investment product is a type of security such as a stock, bond, mutual fund, etc. An investment account represents one or more investment positions owned by a single entity.

Investment position information is collected from various financial institutions and is standardized by reclassifying the investment positions into standard buckets. The reclassification of investment positions into standard buckets allows the data of one financial institution to be analyzed with respect to the data of other financial institutions.

As an aid for tracking security issues, Standard & Poor's (S&P) provides a series of unique 8-digit alphanumeric values, one of which values may be acquired by the issuer of a security as a unique permanent identifier. This value is referred to as a Committee on Uniform Securities Identification Procedures number (CUSIP number). Interactive Data Corporation (IDC) compiles CUSIP numbers and their associated prospectus information into a CUSIP data file. The present invention uses IDC prospectus information to classify each CUSIP number into a bucket.

Additional prospectus information for an investment product can be added based on CUSIP number. For example, the IDC CUSIP data file does not provide detailed prospectus information for mutual fund investment products. Lipper Analytical Services provides a categorization of mutual funds called Lipper Investment Objectives. In the present invention a database is used to associate a Lipper Investment Objective to each mutual fund based on CUSIP number. By using both the IDC CUSIP data file and Lipper Investment Objectives, related by CUSIP, a more complete and detailed reclassification of investment products and of a financial institution's position database is attained. Although the preferred embodiment uses Lipper Analytical Service's categorization of mutual funds, in alternative implementations of the present invention other mutual fund categorizations could be used in addition to, or in place of, Lipper Investment Objectives, such as those provided by other firms, such as Strategic Insights and Morningstar.

The present invention uses the CUSIP number as the key to reclassifying the investment position data into buckets. A bucket is an investment product classification that uniquely and consistently identifies an investment product type. A bucket comprises bucket codes that collectively identify the bucket. Appendix pages B1-B16 illustrate the preferred embodiment of the buckets and associated bucket codes. In the preferred embodiment, there are buckets to classify individual securities and mutual funds into security product types, asset classes and mutual fund types, hereinafter referred to as product, asset and fund types. In an alternative embodiment, securities could be classified into other buckets, such as market capitalization levels. Once a security issue associated with a CUSIP number has been recoded with bucket codes, any occurrence of that CUSIP number (and the associated security issue) can be recoded with bucket codes.

The preferred embodiment comprises three sets of buckets, one set each for product, asset and fund types. Each bucket comprises bucket codes which provide multiple levels of detail categorizing a particular investment product type. For example, fund buckets comprise three levels of detail. The first level is the most general level, and the second and third levels are successively more detailed. In the preferred embodiment, the first level fund bucket code specifies whether the investment product is a money market fund, municipal bond fund, domestic taxable bond fund, a blended debt/equity fund, domestic equity fund or an international fund. The second level fund bucket code specifies greater detail about the mutual fund. Second level fund bucket codes may specify, for example, whether a particular money market fund invests in taxable or tax-exempt securities. The third level bucket code for a fund bucket is even more detailed than the first two levels, yielding more information about the investment product. Third level fund bucket codes may specify, for example, whether a tax-exempt money market fund invests a single state's municipal bonds, or many states' municipal bonds. These varying levels of detail enable the classification of individual investment products at both a general level and a detailed level.

FIGS. 1-4 provide an overview of the flow of data through the present invention. These figures illustrate how the bucket codes and data are manipulated to yield a position database file with the standard buckets assigned to each position.

FIG. 1 illustrates how the Lipper Investment Objectives are assigned to investment products in the CUSIP classification file 104. The database derived from Lipper Analytical Services mutual fund information (Lipper database 102) comprises multiple records, each of which represents an individual mutual fund. Each unique mutual fund investment product has a corresponding CUSIP number. The Lipper database 102 comprises records and CUSIP numbers representing mutual fund investment products. The CUSIP classification file 104, on the other hand, comprises all known CUSIP numbers. The Lipper database 102, therefore, is a subset of the investment products represented by the records of the CUSIP classification file 104. The Lipper database 102, however, comprises more detailed prospectus information on mutual fund investment products than the CUSIP classification file 104. The more detailed prospectus information is in the form of Lipper Investment Objectives. To include the detailed prospectus information of the Lipper database 102 in the reclassification of investment products, the Lipper Investment Objectives are copied into the CUSIP classification file 104.

To copy the Lipper Investment Objectives into the CUSIP classification file 104, the Lipper database 102 is related into (mapped into) the CUSIP classification file 104 based on matching CUSIP numbers. Since CUSIP numbers uniquely identify an investment product, the mutual fund investment products of the Lipper database 102 map directly into the CUSIP classification file 104. The Lipper Investment Objectives are then copied into the corresponding mutual fund investment product records of the CUSIP database.

FIG. 2 illustrates the flow of data used to assign product, asset and fund buckets to the investment products of the CUSIP classification file 104 after the Lipper prospectus information has been added to the CUSIP classification file 104. The bucket database 202 comprises all of the buckets to be assigned to investment products, as well as every unique combination of IDC prospectus information & Lipper Investment Objectives that occur in the CUSIP classification file 104. The bucket database 202 is a look up table used to cross reference bucket codes with IDC & Lipper prospectus codes, and can be generated either manually or algorithmically. Each particular combination of IDC & Lipper prospectus codes is associated with a individual bucket. The bucket database 202 is mapped into the CUSIP classification file 104 based on IDC prospectus information & Lipper Investment Objective combinations. The product, asset, and fund bucket codes are then copied into the CUSIP classification file 104. After the bucket codes have been copied into the CUSIP classification file 104, each unique investment product, identified by CUSIP number, has been assigned uniquely to one product bucket, one asset bucket and one fund bucket. The CUSIP classification file 104 can now be used to assign buckets to investment products which are identified by CUSIP number. The method of assigning product, asset and fund bucket codes to the CUSIP classification file 104 is implementation specific. Although the process of FIG. 2 illustrates the use of a look-up table, the bucket codes could also be assigned using an algorithm or applied manually.

FIG. 3 illustrates the process for verifying and auditing the information in the position database 302 for the purposes of quality control. Since the position database 302 is supplied by an external financial institution, the information in the position database is subject to errors. The summarization process identifies unique combinations of position information and creates summary databases 304, 306 whose records each represent a unique combination of position information values. In the preferred embodiment, the position information is in the form of field values in position database 302. The position database 302 can be summarized multiple times based on different fields or combinations of fields. The summarization process is most easily understood with a simple example.

The summary process is readily described in terms of an example database that contains the name of the owner, ZIP code and dialing prefix of every phone number in the United States. This hypothetical database would contain approximately 275 million records. If the number of individuals in each ZIP code is to be calculated, the database can be verified by "summarizing" on ZIP code. The summarization process would result in a ZIP code summary database with each record containing a unique ZIP code and a number representing the number of phone numbers in the particular ZIP code. Since the U.S. has approximately 35 thousand unique ZIP codes, the ZIP code summary database would have approximately 35 thousand records. The ZIP code summary database could then be checked for validity against a list of known valid ZIP codes to identify the invalid ZIP codes in the example database. This summary process, therefore, provides a method for data verification.

More reliable data verification can be performed by summarizing on combinations of fields. Since valid ZIP codes could be assigned to phones residing in another ZIP code, more reliable data verification can be performed by applying the summary process to ZIP code combined with telephone dialing prefix. A new summary database is created by creating a record for each occurrence of a unique ZIP code and telephone dialing prefix combination. This would result in a database that contains every unique combination of ZIP code and telephone dialing prefix. The resultant summary database could then be cross-referenced against a list of known valid combinations of ZIP code and dialing prefix, providing an additional level of data verification.

FIG. 3 illustrates the summarization process as applied to the financial institution's position database 302. The summarization process is used as a quality control step to ensure the validity of the data provided by the financial institution. The position database 302 is summarized on unique combinations of fields, for example, ZIP code, state, account type, CUSIP number, etc. The summarization process results in summary position databases 304, 306. Summary position databases 304, 306 are then cross-reference checked for validity against known valid combinations of information in cross-reference databases 308, 310. Any errant data or new unidentified combinations of data are identified, flagged and removed from the position database 302 or added to the cross-reference databases 308, 310, respectively. This step ensures the integrity and validity of the position database 302 information.

FIG. 4 illustrates the process of recoding the financial institution's position database 302 with the bucket codes from the recoded CUSIP classification file 104 and summarizing position database 302. Position database 302 is related (mapped) to CUSIP classification file 104 based on CUSIP number. The bucket codes are then copied from the CUSIP classification file 104 into position database 302 for each matching CUSIP number. This process results in position database 302 that contains each investment position placed in product, asset and fund buckets identifying the investment product type. After position database 302 has been recoded with the bucket codes, position database 302 is then summarized. The summary process in the preferred embodiment is performed on the basis of unique bucket and ZIP codes. The number of positions and values of assets are totaled for each unique combination of bucket and ZIP code. This results in a database whose records contain a list of each possible bucket (that occurs in the ZIP code) for every ZIP code which has investment positions, with its associated assets and number of positions.

2. Sample Data

Tables A through F contain the input data specifications for the financial institution submitted position data information, which varies according to the type of financial institution. Tables A, C, and F provide an overview of the data to be submitted by the financial institution for three types of financial institutions. The position information of the preferred embodiment comprises ZIP code, customer type, customer gender, branch, customer age, customer date, account type, fund or product identifier, CUSIP, account date, shares owned, price of security, account balance, distributor identifier, distributor type and omnibus account indicator. Each record of the data provided by the financial institution should represent one position. Tables B, D, and E describe the cross-reference tables to be provided by the financial institution.

                                      TABLE A
    __________________________________________________________________________
    INPUT DATA SPECIFICATIONS SUMMARY
    Data as of 6/28/96 -- Direct-Marketed Fund Companies
    __________________________________________________________________________
    Data Selection:
                Select all investment positions of retail accounts
                administered in the U.S.
                (This is to include all accounts of Private Investors, Small
                Businesses, and
                small Group Plans that your firm considers part of the
                "retail" market.)
    Level of Detail:
                Provide one record for each shareholder account.
    Data Security:
                Strip out all personal identifiers (e.g., name, address,
                tel/fax#, taxpayer ID)
    Record Content:
    ZIP+4 Code (required)
                Account owner's ZIP+4
    Distributor Code (required)
                Your code for any independent broker/dealer or financial
                advisor who is responsible for the account.
    Branch Code (optional)
                Your code for any of your field offices linked to the
                account.
    Customer Type (required)
                Type of account owner (see Code Definition Tables).
    Customer Gender (optional)
                Wbere applicable.
    Customer Age (optional)
                Date or year of birth, where applicable.
    Customer Date (optional)
                Date or year relationship established with the Customer.
    Unique Acct. # (optional)
                Unique identifier for each account (to facilitate error
                checks).
    Account Type (required)
                Type of account (see Code Definition Tables).
    Account Date (required)
                Date or year account established.
    Fund Code (required)
                Your internal code for the Fund.
    Shares/Units Owned (req'd)
                Number shares/units owned, as of 6/28/96, to 3 decimals.
    Market Price/NAV (req'd)
                Price or NAV, as of 6/28/96, reported to 3 decimals.
    Balance (required)
                Asset amount, as of 6/28/96, reported to 2 decimals.
    Code Conventions:
                Please use the same codes you use internally for all data
                fields. Please do
                not recode, convert, or roll-up any of your internal codes
                before submission.
    File Characteristics:
                Please provide field-length records in a single file (maximum
                block size =
                32K). Record separators may be used for ASCII files. Do not
                convert any
                EBCDIC binary fields.
    File Documentation:
                Please provide documentation; including: record layout, block
                size, blocking
                factor, total number of records and dollars of assets
                submitted.
    Preferred Medium:
                3480/3490 cartridges or Windows NT DAT tape back-up
    __________________________________________________________________________
                versions.


                                  TABLE B
    __________________________________________________________________________
    CODE DEFINITION TABLES
    Instructions for Direct-Marketed Fund Companies
    __________________________________________________________________________
    Please provide a table of possible code values and their associated
    definitions in a common PC
    format such as Excel, DBF, or ASCII text file format for all of the
    following codes:
      Codes used to define Customer Types, for example:
           Customer Type Code
                          Customer Type Definition
           IN             Individual
           JT             Joint Tenants
           CO             Corporation
      Codes used to define Account Types, for example:
           Account Type Code
                          Account Type Definition
           REG            Regular
           WRA            Wrap
           401            401(k) Individually Directed
           IRR            IRA Regular
      Codes used to identify your company's individual funds, for example:
    Fund Code     Fund Name       CUSIP
    TMM           Taxable Money Market Fund
                                  123456701
    CMS-B         Common Stock Fund-B Shares
                                  123456802
      Codes used to identify your company's field branch offices. Please
      include all branch address
      information as well as any management hierarchy that applies, for
      example:
    Branch  Region
                 Name Address  City State
                                        Zip
    AZ      SW   Phoenix
                      16 West Pasadena
                               Phoenix
                                    AZ  80712
    CH      MW   Chicago
                      20 West Wacker
                               Chicago
                                    IL  60602
      Codes used to identify your company's independent distributors. Please
      include all distributor
      name and address information, for example:
    Dealer
          Name        Address City State
                                      Zip
    AZ    Arizona Financial Planners
                      16 West Pasadena
                              Phoenix
                                   AZ 80712-1003
    CH    CHH Group   20 West Wacker
                              Chicago
                                   IL 60602-8973
    __________________________________________________________________________


                                  TABLE C
    __________________________________________________________________________
    INPUT DATA SPECIFICATIONS SUMMARY
    Data as of 6/28/96 -- Wholesale-Marketed Fund Companies
    __________________________________________________________________________
    Data Selection:
                Select all investment positions of retail accounts
                administered in the U.S.
                (This is to include all accounts of Private Investors, Small
                Businesses, and
                small Group Plans that your firm considers part of the retail
                market.)
    Level of Detail:
                Provide one record for each shareholder account.
    Data Security:
                Strip out all personal identifiers (e.g., name, address,
                tel/fax#, taxpayer ID)
    Record Content:
    ZIP+4 Code (required)
                Account owner's ZIP+4
    Distributor Code (required)
                Your code for any independent broker/dealer or financial
                advisor who is responsible for the account.
    Distributor Type (required):
                Your code for the type of broker/dealer or financial
                advisor.
    Omnibus Acct. Indicator
                Your code indicating omnibus accounts
    (required)
    Customer Type (required)
                Type of account owner (see Code Definition Tables).
    Customer Gender (optional)
                Where applicable.
    Customer Age (optional)
                Date or year of birth, where applicable.
    Customer Date (optional)
                Date or year relationship establisbed with the Customer.
    Unique Acct. # (optional)
                Unique identifier for each account (to facilitate error
                checks).
    Account Type (required)
                Type of account (see Code Definition Tables).
    Account Date (required)
                Date or year account established.
    Fund Code (required)
                Your internal code for the Fund.
    Shares/Units Owned (req'd)
                Number shares/units owned, as of 6/28/96, to 3 decimals.
    Market Price/NAV (req.'d)
                Price or NAV, as of 6/28/96, reported to 3 decimals.
    Balance (required)
                Asset amount, as of 6/28/96, reported to 2 decimals.
    Code Conventions:
                Please use the same codes you use internally for all data
                fields. Please do
                not recode, convert, or roll-up any of your internal codes
                before submission.
    File Characteristics:
                Please provide field-length records in a single file (maximum
                block size
                32K). Record separators may be used for ASCII files. Do not
                convert any
                EBCDIC binary fields.
    File Documentation:
                Please provide documentation, including: record layout, block
                size, blocking
                factor, total number of records and dollars of assets
                submitted.
    Preferred Medium:
                3480/3490 cartridges or Windows NT DAT tape back-up
    __________________________________________________________________________
                versions.


                                  TABLE D
    __________________________________________________________________________
    CODE DEFINITION TABLES
    Instructions for Wholesale-Marketed Fund Companies
    __________________________________________________________________________
    Please provide a table of possible code values and their associated
    definitions in a common PC
    format such as Excel, DBF, or ASCII text file format for all of the
    following codes:
      Code(s) used to define Customer Types, for example:
           Customer Type Code
                          Customer Type Definition
           IN             Individual
           JT             Joint Tenants
           CO             Corporation
      Code(s) used to define Account Types, for example:
           Account Type Code
                          Account Type Definition
           REG            Regular
           WRA            Wrap
           401            401(k) Individually Directed
           IRR            IRA Regular
      Codes used to identify your company's individual funds, for example:
    Fund Code     Fund Name       CUSIP
    TMM           Taxable Money Market Fund
                                  123456701
    CMS           Common Stock Fund
                                  123456802
      Codes used to identify your company's independent distributors. Please
      include all distributor
      name and address information, for example:
    Dealer
          Name        Address  City State
                                       Zip
    AZ    Arizona Financial Planners
                      16 West Pasadena
                               Phoenix
                                    AZ 80712-1003
    CH    CHH Group   20 West Wacker
                               Chicago
                                    IL 60602-8973
    ML    Merrill Lynch
                      800 Scudders Mill
                               Plainsboro
                                    NJ 08536
                      Rd.
      Code(s) used to define your company's types of distributors, for
      example:
            Distributor Type Code
                            Distributor Type Name
            NWH             National Brokerage House
            FP              Financial Planner
            INS             Insurance Company
    __________________________________________________________________________


                                  TABLE E
    __________________________________________________________________________
    INPUT DATA SPECIFICATIONS SUMMARY
    Data as of 6/28/96 -- Securities Brokers
    __________________________________________________________________________
    Data Selection:
                Select all investment positions of retail accounts
                administered in the U.S.
                (This is to include all accounts of Private Investors, Small
                Businesses, and
                small Group Plans that your firm considers part of the
                "wholesale" market.)
    Level of Detail:
                Provide one record for each investment position.
    Data Security:
                Strip out all personal identifiers (e.g., name, address,
                tel/fax#, taxpayer ID)
    Record Content:
    ZIP+4 Code (required)
                Account owner's ZIP+4
    Branch Code (required)
                Your code for the originating branch, as applicable.
    Non-Branch Dist. Code
                Your internal code for any advisor account relationships or
    (required)  fully disclosed clearing branches.
    Customer Type (required)
                Type of account owner (see Code Definition Tables).
    Customer Gender (optional)
                Where applicable.
    Customer Age (optional)
                Date or year of birth, where applicable.
    Unique Acct. # (optional)
                A unique identifier for each account.
    Account Type (required)
                Type of account (see Code Definition Tables).
    Account Date (required)
                Date or year account established.
    Record Type (required)
                1 = Cash Record; 2 = Position Record.
    Product Code (required)
                Finest level code in your internal product code system.
    CUSIP .RTM. (required)
                Leave blank for Cash or Margin (or if CUSIP .RTM. is not
                available).
    Shares/Units Owned (req'd)
                Number shares/units owned, as of 6/28/96, to 3 decimals.
    Market Price/NAV (req'd)
                Price or NAV, as of 6/28/96, reported to 3 decimals.
    Balance (required)
                Asset Amount, as of 6/28/96, reported to 2 decimals. Please
                report all positions, regardless of sign.
    Code Conventions:
                Please use the same codes you use internally for all data
                fields. Please do
                not recode, convert, or roll-up any of your internal codes
                before submission.
    File Characteristics:
                Please provide field-length records in a single file (maximum
                block size =
                32K). Record separators may be used for ASCII files. Do not
                convert any
                EBCDIC binary fields.
    File Documentation:
                Please provide documentation, including: record layout, block
                size, blocking
                factor, total number of records and dollars of assets
                submitted.
    Preferred Medium:
                3480/3490 cartridges or Windows NT DAT tape back-up
    __________________________________________________________________________
                versions.


                                  TABLE F
    __________________________________________________________________________
    CODE DEFINITION TABLES
    Instructions for Securities Brokers
    __________________________________________________________________________
    Please provide a table of possible code values and their associated
    definitions in a common PC
    format such as Excel, DBF, or ASCII text file format for all of the
    following codes:
      Codes used to define Customer Types, for example:
           Customer Type Code
                          Customer Type Definition
           IN             Individual
           JT             Joint Tenants
           CO             Corporation
      Codes used to define Accdunt Types, for example:
           Account Type Code
                          Account Type Definition
           REG            Regular
           WRA            Wrap
           401            401(k) Individually Directed
           IRR            IRA Regular
      Codes used to identify products in your company's product code system,
      for example:
             Product Code  Product Name
             TMM           Taxable Money Market Funds
             CMS           Common Stock
      Codes used to identify your company's field branch offices. Please
      include all branch address
      information as well as any management hierarchy that applies, for
      example:
    Branch  Region
                 Name Address  City State
                                        Zip
    AZ      SW   Phoenix
                      16 West Pasadena
                               Phoenix
                                    AZ  80712
    CH      MW   Chicago
                      20 West Wacker
                               Chicago
                                    IL  60602
      Codes used to identify your company's non-branch distributors, if any.
      Please include all
      distributor name and address information, for example:
    Dealer
          Name        Address City State
                                      Zip
    AZ    Arizona Financial Planners
                      16 West Pasadena
                              Phoenix
                                   AZ 80712-1003
    CH    CHH Group   20 West Wacker
                              Chicago
                                   IL 60602-8973
    __________________________________________________________________________

                                      TABLE 1
    __________________________________________________________________________
    Product Codes
    Bucket Codes
    Prod 1
        Prod 2
            Prod 3
                ProdName 1
                        ProdName 2
                                  ProdName 3
    __________________________________________________________________________
    1   0   0   Cash
    1   1   0   Cash    Cash Balances
    1   1   1   Cash    Cash Balances
                                  Cash Balances
    1   2   0   Cash    Money Market Funds
    1   2   1   Cash    Money Market Funds
                                  Taxable
    1   2   2   Cash    Money Market Funds
                                  Tax-Exempt
    2   0   0   Munis
    2   1   0   Munis   Tax-Exempt
    2   2   0   Munis   Taxable
    2   3   0   Munis   Zero-Coupon
    3   0   0   Dom. FI
    3   1   0   Dom. FI US Savings Bonds
    3   2   0   Dom. FI Treasuries
    3   2   1   Dom. FI Treasuries
                                  Bills
    3   2   2   Dom. FI Treasuries
                                  Notes
    3   2   3   Dom. FI Treasuries
                                  Bonds
    3   3   0   Dom. FI US Gov't Zero
                        Coupon Bonds
    3   3   1   Dom. FI US Gov't Zero
                                  Treasury Strips
                        Coupon Bonds
    3   3   2   Dom. FI US Gov't Zero
                                  Other Zero Coupons
                        Coupon Bonds
    3   4   0   Dom. FI Federal Agency Debt
    3   5   0   Dom. FI Mortgage-Backed
                        Securities
    3   5   1   Dom. FI Mortgage-Backed
                                  GNMA
                        Securities
    3   5   2   Dom. FI Mortgage-Backed
                                  FNMA
                        Securities
    3   5   3   Dom. FI Mortgage-Backed
                                  FHLMC
                        Securities
    3   5   4   Dom. FI Mortgage-Backed
                                  Other Issuers
                        Securities
    3   6   0   Dom. FI CMOs
    3   7   0   Dom. FI Asset-Backed
                        Securities
    3   8   0   Dom. FI CDs
    3   9   0   Dom. FI Corporates
    3   9   1   Dom. FI Corporates
                                  Commercial Paper
    3   9   2   Dom. FI Corporates
                                  Notes & Bonds
    3   9   3   Dom. FI Corporates
                                  Zero Coupons
    3   9   4   Dom. FI Corporates
                                  Convertibles
    3   9   5   Dom. FI Corporates
                                  Type Not Specified
    4   0   0   Dom. Equity
    4   1   0   Dom. Equity
                        Preferred Stock
    4   1   1   Dom. Equity
                        Preferred Stock
                                  Regular
    4   1   2   Dom. Equity
                        Preferred Stock
                                  Convertible
    4   2   0   Dom. Equity
                        Common Stock
    4   2   1   Dom. Equity
                        Common Stock
                                  NYSE/AMEX
                                  Exchanges
    4   2   2   Dom. Equity
                        Common Stock
                                  NASDAQ-Listed
    4   2   3   Dom. Equity
                        Common Stock
                                  Regional Exchanges
    4   2   4   Dom. Equity
                        Common Stock
                                  OTC & NQB
    4   2   5   Dom. Equity
                        Common Stock
                                  Canadian Exchanges
    4   2   6   Dom. Equity
                        Common Stock
                                  Exchange Not
                                  Specified
    4   3   0   Dom. Equity
                        Other Equities
    4   3   1   Dom. Equity
                        Other Equities
                                  Warrants
    4   3   2   Dom. Equity
                        Other Equities
                                  Units
    4   3   3   Dom. Equity
                        Otber Equities
                                  Rights
    4   3   4   Dom. Equity
                        Other Equities
                                  Scrip
    4   3   5   Dom. Equity
                        Other Equities
                                  Other
    5   0   0   O/E Funds
    5   1   0   O/E Funds
                        Debt-Oriented
    5   2   0   O/E Funds
                        Equity-Oriented
    6   0   0   C/E Funds &
                Trusts
    6   1   0   C/E Funds &
                        Closed-End Mutual
                Trusts  Funds
    6   1   1   C/E Funds &
                        Closed-End Mutual
                                  Debt-Oriented
                Trusts  Funds
    6   1   2   C/E Funds &
                        Closed-End Mutual
                                  Equity-Oriented
                Trusts  Funds
    6   2   0   C/E Funds &
                        UITs      B11
                Trusts
    6   2   1   C/E Funds &
                        UITs      Debt
                Trusts
    6   2   2   C/E Funds &
                        UITs      Equity
                Trusts
    6   3   0   C/E Funds &
                        REITs
                Trusts
    6   4   0   C/E Funds &
                        Other
                Trusts  Funds/Trusts/MLPs
    7   0   0   Foreign
    7   1   0   Foreign Foreign Debt Issues
    7   1   1   Foreign Foreign Debt Issues
                                  US Exchanges
    7   1   2   Foreign Foreign Debt Issues
                                  Canadian Exchanges
    7   1   3   Foreign Foreign Debt Issues
                                  Exchange Not
                                  Specified
    7   2   0   Foreign Foreign Equity Issues
    7   2   1   Foreign Foreign Equity Issues
                                  ADRs
    7   2   2   Foreign Foreign Equity Issues
                                  US Exchanges (Non-
                                  ADRs)
    7   2   3   Foreign Foreign Equity Issues
                                  Canadian Exchanges
    7   2   4   Foreign Foreign Equity Issues
                                  Exchange Not
                                  Specified
    7   3   0   Foreign Off-Shore
                        Funds/Trusts
    7   4   0   Foreign Other Foreign
                        Securities
    7   4   1   Foreign Other Foreign
                                  Private Placements
                        Securities
    7   4   2   Foreign Other Foreign
                                  Options/Futures
                        Securities
    7   4   3   Foreign Other Foreign
                                  Other
                        Securities
    8   0   0   Other
    8   1   0   Other   Private Limited
                        Partnership
    8   2   0   Other   Private Placements
    8   3   0   Other   Options (on)
    8   3   1   Other   Options (on)
                                  Equity Issues
    8   3   2   Other   Options (on)
                                  Debt Issues
    8   3   3   Other   Options (on)
                                  Interest Rates
    8   3   4   Other   Options (on)
                                  Indices
    8   3   5   Other   Options (on)
                                  Commodities
    8   3   6   Other   Options (on)
                                  Currencies
    8   4   0   Other   Futures
    8   4   1   Other   Futures   Regular
    8   4   2   Other   Futures   Managed Funds
    8   5   0   Other   Precious Metals
    8   6   0   Other   Physical
                        Commodities
    8   7   0   Other   Other
    8   8   0   Other   Unclassified Assets
    M   M   M   Margin Balances
    __________________________________________________________________________


                                  TABLE 2
    __________________________________________________________________________
    Asset Codes
    Bucket Codes
    Asst 1
        Asst 2
            Asst 3
                AsstName 1
                        AsstName 2
                                  AsstName 3
    __________________________________________________________________________
    1   1   0   Cash    Cash Balances
    1   2   0   Cash    Tax-Ex Money Mkt
                        Funds
    1   3   1   Cash    Taxable Money Mkt
                                  US Treasury
                        Funds
    1   3   2   Cash    Taxable Money Mkt
                                  US Gov't
                        Funds
    1   3   3   Cash    Taxable Money Mkt
                                  Other
                        Funds
    2   1   1   Debt    US Treasury
                                  0-90 Days
    2   1   2   Debt    US Treasury
                                  91-364 Days
    2   1   3   Debt    US Treasury
                                  1 Yr. +
    2   2   1   Debt    Other US Gov't
                                  0-90 Days
    2   2   2   Debt    Other US Gov't
                                  91-364 Days
    2   2   3   Debt    Other US Gov't
                                  1 Yr. +
    2   3   1   Debt    Other Dom. Taxable
                                  0-90 Days
                        Debt
    2   3   2   Debt    Other Dom. Taxable
                                  91-364 Days
                        Debt
    2   3   3   Debt    Other Dom. Taxable
                                  1 Yr. +
                        Debt
    2   4   1   Debt    Foreign Issuer Debt
                                  0-90 Days
    2   4   2   Debt    Foreign Issuer Debt
                                  91-364 Days
    2   4   3   Debt    Foreign Issuer Debt
                                  1 Yr. +
    2   5   1   Debt    Tax-Exempt Munis
                                  0-90 Days
    2   5   2   Debt    Tax-Exempt Munis
                                  91-364 Days
    2   5   3   Debt    Tax-Exempt Munis
                                  1 Yr. +
    2   6   1   Debt    Debt Funds & Trusts
                                  US Treasury
    2   6   2   Debt    Debt Funds & Trusts
                                  US Gov't
    2   6   3   Debt    Debt Funds & Trusts
                                  Ultra-Short
                                  Obligations
    2   6   4   Debt    Debt Funds & Trusts
                                  Other Dom. Taxable
    2   6   5   Debt    Debt Funds & Trusts
                                  Muni Bond
    2   6   6   Debt    Debt Funds & Trusts
                                  International
    2   7   0   Debt    Expired Maturities
    3   1   0   Equity  Domestic Equities
    3   2   1   Equity  Equity Funds &
                                  Domestic
                        Trusts
    3   2   2   Equity  Equity Funds &
                                  International
                        Trusts
    3   3   0   Equity  Foreign Issuer
                        Equities
    3   4   0   Equity  Foreign Off-Shore
                        Funds
    4   1   0   Non-Classifled
                        Foreign Other
    4   2   0   Non-Classified
                        Other Securities
    4   3   0   Non-Classified
                        Non-Classified Funds
    M   M   M   Margin Balances
    __________________________________________________________________________


                                  TABLE 3
    __________________________________________________________________________
    Fund Codes
    Bucket Codes
    Fund 1
        Fund 2
            Fund 3
                FundName 1
                        FundName 2
                                  FundName 3
    __________________________________________________________________________
    1   0   0   Money Mkts
    1   1   0   Money Mkts
                        Taxable
    1   1   1   Money Mkts
                        Taxable   US Treasury
    1   1   2   Money Mkts
                        Taxable   US Gov't
    1   1   3   Money Mkts
                        Taxable   Mony Mkt
                                  Instrument
    1   2   0   Money Mkts
                        Municipal
    1   2   1   Money Mkts
                        Municipal Multi-State
    1   2   2   Money Mkts
                        Municipal Single State
    2   0   0   Muni Bond
    2   1   0   Muni Bohd
                        Short-Term
    2   1   1   Muni Bond
                        Short-Term
                                  Multi-State
    2   1   2   Muni Bond
                        Short-Term
                                  Single State
    2   2   0   Muni Bond
                        Int. Term
    2   2   1   Muni Bond
                        Int. Term Multi-State
    2   2   2   Muni Bond
                        Int. Term Single State
    2   3   0   Muni Bond
                        Varied Mat.
    2   3   1   Muni Bond
                        Varied Mat.
                                  Multi-State
    2   3   2   Muni Bond
                        Varied Mat.
                                  Single State
    2   3   3   Muni Bond
                        Varied Mat.
                                  High Yield
    2   4   0   Muni Bond
                        Insured
    2   4   1   Muni Bond
                        Insured   Multi-State
    2   4   2   Muni Bond
                        Insured   Single State
    3   0   0   Dom. Taxable
                Bond
    3   1   0   Dom. Taxable
                        Short-Term
                Bond
    3   1   1   Dom. Taxable
                        Short-Term
                                  Ultra-Short Oblig.
                Bond
    3   1   2   Dom. Taxable
                        Short-Term
                                  US Treasury
                Bond
    3   1   3   Dom. Taxable
                        Short-Term
                                  US Gov't
                Bond
    3   1   4   Dom. Taxable
                        Short-Term
                                  Inv. Grade
                Bond
    3   2   0   Dom. Taxable
                        Int. Term
                Bond
    3   2   1   Dom. Taxable
                        Int. Term US Treasury
                Bond
    3   2   2   Dom. Taxable
                        Int. Term US Gov't
                Bond
    3   2   3   Dom. Taxable
                        Int. Term Inv. Grade
                Bond
    3   3   0   Dom. Taxable
                        Varied Mat.
                Bond
    3   3   1   Dom. Taxable
                        Varied Mat.
                                  US Treasury
                Bond
    3   3   2   Dom. Taxable
                        Varied Mat.
                                  US Gov't
                Bond
    3   3   3   Dom. Taxable
                        Varied Mat.
                                  Target Mat.
                Bond
    3   3   4   Dom. Taxable
                        Varied Mat.
                                  General Bond
                Bond
    3   3   5   Dom. Taxable
                        Varied Mat.
                                  Flex. Inc.
                Bond
    3   3   6   Dom. Taxable
                        Varied Mat.
                                  Misc. Funds
                Bond
    3   4   0   Dom. Taxable
                        Mtg-Backed
                Bond
    3   4   1   Dom. Taxable
                        Mtg-Backed
                                  GNMA
                Bond
    3   4   2   Dom. Taxable
                        Mtg-Backed
                                  Adj-Rate Mtg
                Bond
    3   4   3   Dom. Taxable
                        Mtg-Backed
                                  US Mtg
                Bond
    3   5   0   Dom. Taxable
                        Corp. Debt
                Bond
    3   5   1   Dom. Taxable
                        Corp. Debt
                                  Corp A-Rated
                Bond
    3   5   2   Dom. Taxable
                        Corp. Debt
                                  Corp BBB-Rated
                Bond
    3   5   3   Dom. Taxable
                        Corp. Debt
                                  Loan Part.
                Bond
    3   5   4   Dom. Taxable
                        Corp. Debt
                                  High Current Yield
                Bond
    4   0   0   Blended
                Debt/Equity
    4   1   0   Blended Adj. Mix
                Debt/Equity
    4   1   1   Blended Adj. Mix  Convertible Sec.
                Debt/Equity
    4   1   2   Blended Adj. Mix  Income
                Debt/Equity
    4   1   3   Blended Adj. Mix  Flex. Profolio
                Debt/Equity
    4   1   4   Blended Adj. Mix  Multi-Sector Income
                Debt/Equity
    4   2   0   Blended Balanced
                Debt/Equity
    4   2   1   Blended Balanced  General
                Debt/Equity
    4   2   2   Blended Balanced  Target Mat.
                Debt/Equity
    5   0   0   Domestic Equity
                Funds
    5   1   0   Domestic Equity
                        Income
                Funds
    5   1   1   Domestic Equity
                        Income    Dual-Purpose/Inc.
                Funds
    5   1   2   Domestic Equity
                        Income    Equity Inc.
                Funds
    5   2   0   Domestic Equity
                        Growth/Inc.
                Funds
    5   2   1   Domestic Equity
                        Growth/Inc.
                                  Growth & Inc.
                Funds
    5   2   2   Domestic Equity
                        Growth/Inc.
                                  S & P 500 Index
                Funds
    5   3   0   Domestic Equity
                        Capital Growth
                Funds
    5   3   1   Domestic Equity
                        Capital Growth
                                  Growth
                Funds
    5   3   2   Domestic Equity
                        Capital Growth
                                  Dual-Purpose Cap.
                Funds
    5   3   3   Domestic Equity
                        Capital Growth
                                  Mid-Cap
                Funds
    5   3   4   Domestic Equity
                        Capital Growth



                                  Small Co. Growth
                Funds
    5   3   5   Domestic Equity
                        Capital Growth
                                  Capital Appr.
                Funds
    5   4   0   Domestic Equity
                        Ind. Sector
                Funds
    5   4   1   Domestic Equity
                        Ind. Sector
                                  Environmental
                Funds
    5   4   2   Domestic Equity
                        Ind. Sector
                                  Financial Services
                Funds
    5   4   3   Domestic Equity
                        Ind. Sector
                                  Health/Biotech
                Funds
    5   4   4   Domestic Equity
                        Ind. Sector
                                  Nat'l Resources
                Funds
    5   4   5   Domestic Equity
                        Ind. Sector
                                  Real Estate
                Funds
    5   4   6   Domestic Equity
                        Ind. Sector
                                  Science & Tech.
                Funds
    5   4   7   Domestic Equity
                        Ind. Sector
                                  Utility
                Funds
    5   4   8   Domestic Equity
                        Ind. Sector
                                  Specialty & Misc.
                Funds
    6   0   0   International
    6   1   0   International
                        Inc. Oriented
    6   1   1   International
                        Inc. Oriented
                                  Short Multi-Mkt
                                  (World)
    6   1   2   International
                        Inc. Oriented
                                  Short Single-Mkt
                                  (Non-U.S.)
    6   1   3   International
                        Inc. Oriented
                                  General World Inc.
    6   1   4   International
                        Inc. Oriented
                                  Emerging Markets
                                  Debt
    6   2   0   International
                        Equ-Oriented Multi-
                        Nat'l
    6   2   1   International
                        Equ-Oriented Multi-
                                  Flex. Portfolio
                        Nat'l
    6   2   2   International
                        Equ-Oriented Multi-
                                  Global Equ. (Incl.
                        Nat'l     US)
    6   2   3   International
                        Equ-Oriented Multi-
                                  International (Non-
                        Nat'l     US)
    6   2   4   International
                        Equ-Oriented Multi-
                                  Gold-Oriented
                        Nat'l
    6   3   0   International
                        Small Co. Multi-
                        Nat'l
    6   3   1   International
                        Small Co. Multi-
                                  Global (Incl. US)
                        Nat'l
    6   3   2   International
                        Small Co.X Multi-
                                  International (Non-
                        Nat'l     US)
    6   4   0   International
                        Regional
    6   4   1   International
                        Regional  European
    6   4   2   International
                        Regional  Pacific
    6   4   3   International
                        Regional  Emerging Mkts
    6   4   4   International
                        Regional  Japanese
    6   4   5   International
                        Regional  Latin America
    6   4   6   International
                        Regional  Canadian
    7   0   0   Unclassified
                Funds
    X   X   X   Unclassified
                Funds
    __________________________________________________________________________

• Inventors
  Barton, III, Samuel G.; Martin, Madelyn E.; Rodbell, Arthur T.;
• Assignee
  ITX Corporation (McLean, VA)
• Published
  Feb-15-2000
• Current US Classes:
  705/35
  705/36
  707/104.1
• Application #
  741773
• International Classes
  G06F 017/30
• Field of Search
  705/35 705/36 705/37 707/1 707/2 707/10 707/3 707/102 707/104
• Examiner
  Kulik; Paul V.
• Agent
  Sterne, Kessler, Goldstein & Fox, P.L.L.C.
• US Patent References:
  5517406
  5671363
  5696961
  5701423
  5765158
  5771379
  5781896
  5794234
  5809483