公开(公告)号：US10430878B2

公开(公告)日：2019-10-01

申请号：US13617845

申请日：2012-09-14

Applicant: Richard Co ,  John Nyhoff ,  Xing Su ,  Tuen Tuen Wang ,  John Labuszewski

Inventor： Richard Co ,  John Nyhoff ,  Xing Su ,  Tuen Tuen Wang ,  John Labuszewski

IPC: G06Q40/00 ,  G06Q40/04

Abstract: A method for matching compound orders from a group of market participants includes receiving, via a communication network, compound order data, the compound order data specifying a maximum amount of a financial instrument of a plurality of financial instruments to be bought or sold by each market participant, accessing a memory in which price data is stored, the price data indicating a current price of each financial instrument, implementing, with a processor, a linear solver to maximize fulfillment of the compound orders via order matching for execution at the current prices in accordance with the maximum amounts specified in the compound order data and in accordance with a maximum net risk exposure level for each market participant arising from the fulfillment of the compound orders, and transmitting trade data indicative of the order matching for execution of trades among the market participants at the current prices.

公开(公告)号：US09076183B2

公开(公告)日：2015-07-07

申请号：US13285525

申请日：2011-10-31

Applicant: John Nyhoff ,  Lori Aldinger ,  John Labuszewski ,  Steven Youngren

Inventor： John Nyhoff ,  Lori Aldinger ,  John Labuszewski ,  Steven Youngren

IPC: G06Q40/04

CPC classification number: G06Q40/04

Abstract: Stored data may define a multilaterally-traded contract type and specify final settlement of contracts conforming to the contract type by delivery of a defined quantity of a commodity. Additional data may be received, which additional data may indicate potential invocation of an alternate cash settlement mode for a plurality of contracts. Each contract of the plurality may be a contract conforming to the contract type. Further data may be received, with the further data indicating the alternate cash settlement mode is invoked for a group of contracts. The group may be all of the contracts of the plurality or a sub-portion of the plurality. Data may be transmitted to indicate cash final settlement of each contract of the group by payment of a cash settlement value instead of by delivery of the defined quantity of the commodity.

Abstract translation: 存储的数据可以定义多边交易的合同类型，并通过交付定义数量的商品来指定符合合同类型的合同的最终结算。 可以接收附加数据，哪些附加数据可以指示针对多个合同的替代现金结算模式的潜在调用。 多个合同可以是符合合同类型的合同。 可以接收进一步的数据，其中指示为一组合同调用替代现金结算模式的其他数据。 组可以是多个的所有合同或多个的子部分中的所有合同。 可以通过支付现金结算价值而不是通过交付定义的商品数量来传送数据以指示该组的每个合同的最终结算。

公开(公告)号：US08473402B2

公开(公告)日：2013-06-25

申请号：US13086874

申请日：2011-04-14

Applicant: Steven A. Youngren ,  Lori Aldinger ,  John Nyhoff ,  John Labuszewski

Inventor： Steven A. Youngren ,  Lori Aldinger ,  John Nyhoff ,  John Labuszewski

IPC: G06Q40/00

CPC classification number: G06Q40/04

Abstract: Systems and methods that provide for a perpetual futures/derivatives contract with periodic reckoning are disclosed. An embodiment may include a method of receiving a new perpetual contract and managing that contract through to its termination. The perpetual futures contract may comprise an option to terminate the contract at recurring predetermined intervals. The exchange may allow or prohibit exercise of the option based on particular parameters.

Abstract translation: 披露了提供定期推算的永久期货/衍生工具合约的制度和方法。 一个实施方案可以包括接收新的永久合同并通过其终止来管理该合同的方法。 永久期货合约可包括以预定间隔重复终止合约的选择权。 交易所可以允许或禁止基于特定参数行使该期权。

公开(公告)号：US08447679B2

公开(公告)日：2013-05-21

申请号：US13572828

申请日：2012-08-13

Applicant: Richard Co ,  John Labuszewski ,  Paul Peterson ,  John Nyhoff ,  Sayee Srinivasan

Inventor： Richard Co ,  John Labuszewski ,  Paul Peterson ,  John Nyhoff ,  Sayee Srinivasan

IPC: G06Q40/00

CPC classification number: G06Q40/04

Abstract: Systems and methods are described for processing and clearing derivatives products with a binary outcome and having a final settlement based on a triggering event. A computer system configured to process and clear derivative products can accept initial and adjusted performance bonds from buyers and sellers, and adjust the market price of the derivative product at intervals. The market price may be adjusted on a mark-to-market basis and through analysis of other information, e.g., the credit rating of a reference entity. As a result of price adjustments, cash flow may be generated between buyers and sellers. The derivative product may pay a predetermined final settlement amount or percentage upon the triggering of a predetermined event. However, upon expiration of the derivative product, the derivative's market price is settled to zero and the agreement is terminated.

Abstract translation: 描述了用于处理和清除具有二进制结果并且基于触发事件的最终结算的衍生产品的系统和方法。 配置为处理和清除衍生产品的计算机系统可以接受来自买方和卖方的初始和调整后的履约保证金，并间隔调整衍生产品的市场价格。 市场价格可能会以市场价格为基础，并通过分析其他信息（例如参考实体的信用评级）进行调整。 由于价格调整，买家和卖家之间可能会产生现金流。 衍生产品可以在触发预定事件时支付预定的最终结算量或百分比。 但衍生产品到期后，衍生品市场价格为零，协议终止。

公开(公告)号：US20130041799A1

公开(公告)日：2013-02-14

申请号：US13209076

申请日：2011-08-12

Applicant: John Nyhoff ,  Frederick Sturm ,  John Labuszewski

Inventor： John Nyhoff ,  Frederick Sturm ,  John Labuszewski

IPC: G06Q40/00

CPC classification number: G06Q40/04

Abstract: Computer readable media, methods, and apparatuses may be configured for processing a yield of a first financial instrument, determining a single floating rate payment based on the yield, determining a single fixed rate payment based on a fixed interest rate, determining a present value of the single floating rate payment, determining a present value of the single fixed rate payment, and generating a quote for a forward rate agreement index financial product as a function of the present value of the single floating rate payment and the present value of the single fixed rate payment.

公开(公告)号：US08374953B2

公开(公告)日：2013-02-12

申请号：US12911516

申请日：2010-10-25

Applicant: Richard Co ,  Tuen Tuen Wang ,  Xing Su ,  John Labuszewski

Inventor： Richard Co ,  Tuen Tuen Wang ,  Xing Su ,  John Labuszewski

IPC: G06Q40/00

CPC classification number: G06Q40/04

Abstract: A system and method of providing a collateralized loan utilizing a clearing counterparty is disclosed. The method includes receiving an order at a match engine module, the order related to a futures contract based on an options box spread as the deliverable asset such that the futures contract represents a collateralized loan and such that the order includes an interest rate associated with the collateralized loan, analyzing, at the match engine, the order to determine a strike interval, scanning an order book module in communication with the match engine module, such that the scan is based on the determined strike interval, and automatically defining a first pair of options at a first strike price and a second pair of options at a second strike price, such that the determined strike interval defines the first and second strike prices, such that the first and second pair of options cooperate to define the option box spread.

Abstract translation: 披露了利用清算交易对手提供抵押贷款的制度和方法。 该方法包括：在匹配引擎模块处接收与期货合约有关的订单，该期货合约基于作为可交付资产分散的期权箱，使得期货合约代表抵押贷款，并且使得该订单包括与该期权合约相关联的利率 抵押贷款，在匹配引擎处分析确定打击间隔的顺序，扫描与匹配引擎模块通信的订单簿模块，使得扫描基于确定的打击间隔，并且自动定义第一对 第一行使价的期权和第二行使价的第二对期权，使得所确定的敲击间隔定义第一和第二行使价格，使得第一和第二对选项合作以定义期权票据价差。

公开(公告)号：US20080010221A1

公开(公告)日：2008-01-10

申请号：US11611433

申请日：2006-12-15

Applicant: Richard Co ,  John Labuszewski ,  John Nyhoff

Inventor： Richard Co ,  John Labuszewski ,  John Nyhoff

IPC: G06Q40/00

CPC classification number: G06Q40/06 ,  G06Q40/04

Abstract: Methods, systems and apparatuses are described for processing and clearing derivatives products with a digital outcome and a plurality of constituents. A computer system configured to process and clear derivative products can accept initial and adjusted performance bonds from buyers and sellers, and adjust the market price of the derivative product at intervals. The market price may be adjusted on a mark-to-market basis and through analysis of other information, e.g., a change in credit rating of reference entities of the derivative product. As a result of price adjustments, cash flow may be generated between buyers and sellers (e.g., credit and debit to accounts). The derivative product may pay a percentage of a predetermined final settlement amount upon the triggering of a predetermined event in each of the constituents of the derivative product. However, upon expiration of the derivative product, the derivative's market price is settled to zero and the agreement is terminated.

Abstract translation: 描述了用于处理和清除具有数字结果和多个成分的衍生产品的方法，系统和装置。 配置为处理和清除衍生产品的计算机系统可以接受来自买方和卖方的初始和调整后的履约保证金，并间隔调整衍生产品的市场价格。 可以通过市场价格调整市场价格，并通过分析其他信息，例如衍生产品参考实体的信用评级变化。 由于价格调整，买方和卖方之间可能会产生现金流量（例如信用卡和借记帐户）。 在衍生产品的每个成分中的触发预定事件之后，衍生产品可以支付预定最终结算金额的百分比。 但衍生产品到期后，衍生品市场价格为零，协议终止。

公开(公告)号：US20140081818A1

公开(公告)日：2014-03-20

申请号：US13617845

申请日：2012-09-14

Applicant: Richard Co ,  John Nyhoff ,  Xing Su ,  Tuen Tuen Wang ,  John Labuszewski

Inventor： Richard Co ,  John Nyhoff ,  Xing Su ,  Tuen Tuen Wang ,  John Labuszewski

IPC: G06Q40/04

CPC classification number: G06Q40/04

Abstract: A method for matching compound orders from a group of market participants includes receiving, via a communication network, compound order data, the compound order data specifying a maximum amount of a financial instrument of a plurality of financial instruments to be bought or sold by each market participant, accessing a memory in which price data is stored, the price data indicating a current price of each financial instrument, implementing, with a processor, a linear solver to maximize fulfillment of the compound orders via order matching for execution at the current prices in accordance with the maximum amounts specified in the compound order data and in accordance with a maximum net risk exposure level for each market participant arising from the fulfillment of the compound orders, and transmitting trade data indicative of the order matching for execution of trades among the market participants at the current prices.

Abstract translation: 一种用于匹配来自一组市场参与者的复合订单的方法包括经由通信网络接收复合订单数据，指定每个市场要购买或出售的多种金融工具的金融工具的最大金额的复合订单数据 参与者访问存储价格数据的存储器，指示每个金融工具的当前价格的价格数据，用处理器实现线性求解器，以通过以当前价格执行的订单匹配来最大限度地实现复合订单 按照复合订单数据中规定的最大金额，并根据实现复合订单的每个市场参与者的最大净风险敞口水平，以及传达指示市场执行交易顺序匹配的交易数据 参与者以目前的价格。

公开(公告)号：US20140067635A1

公开(公告)日：2014-03-06

申请号：US13605562

申请日：2012-09-06

Applicant: Peter Barker ,  Suzanne Spain ,  James Wilcox ,  Michael Kamradt ,  John Labuszewski

Inventor： Peter Barker ,  Suzanne Spain ,  James Wilcox ,  Michael Kamradt ,  John Labuszewski

IPC: G06Q40/06

CPC classification number: G06Q40/04

Abstract: The disclosed embodiments relate to systems and methods for determining a quotation price of a spread between multiple products, such as two or more futures contracts, having non-homogeneous construction, e.g. one may be specified in terms of an implied rate, such as a Eurodollar Futures contract, and the other may be specified in terms of a price, such a U.S. Treasury Futures contract. The disclosed embodiments normalize the valuation of each “leg” of the spread with respect to each other, accounting for the divergence of the underlying contract construction, so that a difference in those valuations may be computed.

Abstract translation: 所公开的实施例涉及用于确定具有非均匀构造的多个产品（例如两个或更多个期货合约）之间的差价的报价的系​​统和方法，例如。 可以以隐含利率（例如欧洲美元期货合约）来规定一个，另一个可以按照美国财政期货合约的价格来指定。 所公开的实施例将彼此的差价的每个“支”的估值归一化，考虑到基础合同结构的差异，从而可以计算这些估值的差异。

公开(公告)号：US20130282547A1

公开(公告)日：2013-10-24

申请号：US13452425

申请日：2012-04-20

Applicant: John Nyhoff ,  Frederick Sturm ,  Michael Kamradt ,  John Labuszewski

Inventor： John Nyhoff ,  Frederick Sturm ,  Michael Kamradt ,  John Labuszewski

IPC: G06Q40/04

CPC classification number: G06Q40/04

Abstract: An exchange computer system creates, trades and/or otherwise manages basis derivative contracts. At maturity, a basis derivative contract may have two components. A first component may require a party to the basis derivative contract to make or take some type of delivery related to a particular subject matter. A second component may require the basis derivative contractee to accept a further obligation under one or more derivative contracts related to the subject matter.

Abstract translation: 交换计算机系统创建，交易和/或以其他方式管理基础衍生合约。 到期时，基础衍生工具合约可能有两个组成部分。 第一个组成部分可能要求基础衍生工具合同的一方作出或采取与特定主题相关的某种类型的交付。 第二个组成部分可能要求基础衍生工具承包商根据与主题相关的一个或多个衍生合同接受进一步的义务。