Application US20200342396

receiving, by a processor from an initiator participant, via a user interface coupled with the processor, first transaction data indicative of initiation of a first transaction to be completed by one or more facilitator and execution participants selected from a participant database coupled with the processor which stores data indicative of a plurality of participants, the first transaction data including a plurality of parameters which direct how the one or more facilitator and execution participants are to complete the first transaction;

creating, based on receipt of the first transaction data by the processor in a database stored in a memory coupled therewith, a first data record comprising data indictive of the first transaction and the plurality of parameters thereof;

receiving, by the processor from the initiator participant via the user interface, first authorization data specifying whether the one or more facilitator or execution participants are authorized to modify one or more of the plurality of parameters of the first transaction to alter how the one or more facilitator and execution participants are to complete the first transaction, and storing the first authorization data in the first data record;

receiving, by the processor from the initiator participant via the user interface, first designation data indicative of a first designation of a first facilitator participant, selected from the participant database, to facilitate the completion of the first transaction according to the plurality of parameters of the first transaction, and storing the first designation data in the first data record;

wherein, when, based on the first authorization data, the designated first facilitator participant is authorized to modify one or more of the plurality of parameters of the first transaction, enabling, by the processor, modification in the first data record, by the designated first facilitator participant, of the one or more of the plurality of parameters of the first transaction and receiving, by the processor from the designated first facilitator participant via the user interface, second authorization data specifying whether another of the one or more facilitator or execution participants are authorized to modify one or more of the plurality of parameters of the first transaction to alter how the other one or more facilitator or execution participants are to complete the first transaction, and storing the second authorization data in the first data record;

receiving, by the processor from the designated first facilitator participant via the user interface, second designation data indicative of a second designation of either a second facilitator participant to further facilitate completion of the first transaction or an execution participant to complete the first transaction according to the plurality of parameters of the first transaction, selected from the participant database, and storing the second designation data in the first data record;

wherein, when the second facilitator participant is designated and, based on the second authorization data, the designated second facilitator participant is authorized to modify one or more of the plurality of parameters of the first transaction, enabling, by the processor, modification in the first data record, by the designated second facilitator participant, of the one or more of the plurality of parameters of the first transaction and receiving, by the processor from the designated second facilitator participant via the user interface, third authorization data specifying whether the execution participant is authorized to modify one or more of the plurality of parameters of the first transaction to alter how the designated execution participant is to complete the first transaction, and storing the third authorization data in the first data record;

wherein, when the second facilitator participant is designated, further receiving, by the processor from the second facilitator participant via the user interface, third designation data indicative of a third designation of an execution participant, selected from the participant database, to complete the first transaction, and storing the third designation data in the first data record;

wherein, when, based on the third authorization data, the designated execution participant is authorized to modify one or more of the plurality of parameters of the first transaction, enabling, by the processor, modification in the first data record, by the designated execution participant, of the one or more of the plurality of parameters of the first transaction; and

upon receipt of a modification to the plurality of parameters of the first transaction by the processor from one of the initiator, designated first facilitator, designated second facilitator or designated execution participants, transmitting, by the processor, an electronic notification message to all of the others of the initiator, designated first facilitator, designated second facilitator and designated execution participants.

a processor and a memory coupled therewith;

first logic stored in the memory and executable by the processor to cause the processor to receive, from an initiator participant via a user interface coupled with the processor, first transaction data indicative of initiation of a first transaction to be completed by one or more facilitator and execution participants selected from a participant database coupled with the processor which stores data indicative of a plurality of participants, the first transaction data including a plurality of parameters which direct how the one or more facilitator and execution participants are to complete the first transaction;

second logic stored in the memory and coupled with the first logic and executable by the processor to cause the processor to create, based on receipt of the first transaction data by the processor in a database stored in a memory coupled therewith, a first data record comprising data indictive of the first transaction and the plurality of parameters thereof;

third logic stored in the memory and coupled with the first and second logic and executable by the processor to cause the processor to receive, by the processor from the initiator participant via the user interface, first authorization data specifying whether the one or more facilitator or execution participants are authorized to modify one or more of the plurality of parameters of the first transaction to alter how the one or more facilitator and execution participants are to complete the first transaction, and store the first authorization data in the first data record;

fourth logic stored in the memory and coupled with the first, second and third logic and executable by the processor to cause the processor to receive, from the initiator participant via the user interface, first designation data indicative of a first designation of a first facilitator participant, selected from the participant database, to facilitate the completion of the first transaction according to the plurality of parameters of the first transaction, and store the first designation data in the first data record;

wherein, when, based on the first authorization data, the designated first facilitator participant is authorized to modify one or more of the plurality of parameters of the first transaction, the fourth logic is further executable by the processor to cause the processor to enable modification in the first data record, by the designated first facilitator participant, of the one or more of the plurality of parameters of the first transaction and receive, from the designated first facilitator participant via the user interface, second authorization data specifying whether another of the one or more facilitator or execution participants are authorized to modify one or more of the plurality of parameters of the first transaction to alter how the other one or more facilitator or execution participants are to complete the first transaction, and store the second authorization data in the first data record;

fifth logic stored in the memory and coupled with the first, second, third and fourth logic and executable by the processor to cause the processor to receive, from the designated first facilitator participant via the user interface, second designation data indicative of a second designation of either a second facilitator participant to further facilitate completion of the first transaction or an execution participant to complete the first transaction according to the plurality of parameters of the first transaction, selected from the participant database, and store the second designation data in the first data record;

wherein, when the second facilitator participant is designated and, based on the second authorization data, the designated second facilitator participant is authorized to modify one or more of the plurality of parameters of the first transaction, the fifth logic being further executable by the processor to cause the processor to enable modification in the first data record, by the designated second facilitator participant, of the one or more of the plurality of parameters of the first transaction and receive, from the designated second facilitator participant via the user interface, third authorization data specifying whether the execution participant is authorized to modify one or more of the plurality of parameters of the first transaction to alter how the designated execution participant is to complete the first transaction, and store the third authorization data in the first data record;

wherein, when the second facilitator participant is designated, the fifth logic being further executable by the processor to cause the processor to receive, from the second facilitator participant via the user interface, third designation data indicative of a third designation of an execution participant, selected from the participant database, to complete the first transaction, and store the third designation data in the first data record;

wherein, when, based on the third authorization data, the designated execution participant is authorized to modify one or more of the plurality of parameters of the first transaction, the fifth logic being further executable by the processor to cause the processor to enable modification in the first data record, by the designated execution participant, of the one or more of the plurality of parameters of the first transaction; and

sixth logic stored in the memory and coupled with the first, second, third, fourth and fifth logic and executable by the processor to cause the processor to, upon receipt of a modification to the plurality of parameters of the first transaction by the processor from one of the initiator, designated first facilitator, designated second facilitator or designated execution participants, transmit an electronic notification message to all of the others of the initiator, designated first facilitator, designated second facilitator and designated execution participants.