The U.S. Patent & Trademark Office is expected to award a patent Tuesday to a financial technology firm for a cloud computing system that allows securities firms and, potentially, regulators to manage market-wide risks up to the millisecond, without adding any delay to transactions as they are executed.

Patent No. 7,778,915 for a "Financial Data Processing System" that provides real-time risk management and surveillance to FTEN, a New York technology firm whose risk software monitors 17 billion shares worth of transctions, daily.

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