公开(公告)号：US20120323764A1

公开(公告)日：2012-12-20

申请号：US13162821

申请日：2011-06-17

申请人： David Boberski ,  Edward Gogol ,  John Wiley ,  Richard Co ,  Steve Youngren ,  John Labuszewski

发明人： David Boberski ,  Edward Gogol ,  John Wiley ,  Richard Co ,  Steve Youngren ,  John Labuszewski

IPC分类号： G06Q40/00

CPC分类号： G06Q40/00 ,  G06Q20/28 ,  G06Q20/381 ,  G06Q20/387 ,  G06Q40/025 ,  G06Q40/04 ,  G06Q40/06

摘要： A system for moving money between accounts of traders by a central counterparty to facilitate payments, i.e. the movement of funds, there between is disclosed which provides a flexible mechanism which supports simpler accounting, new types of derivatives contracts as well new types fees. The disclosed futures contract, referred to as a “payer” contract, comprises a “no-uncertainty” futures contract, i.e. the initial value and settlement value parameters are defined, that leverages the mechanisms of the clearing system to, for example, accommodate related payments. Accordingly, a 1-to-many relationship between contracts and prices is provided whereby each price component may be assigned its own payer contract. The function of the payer contract may be to guarantee the movement of money from related positions. In one embodiment, payer contracts are dynamically created whenever a payment is needed.

摘要翻译： 公开了一种由中央交易对手在交易商账户之间移动资金以促进支付的系统，即在其间进行资金流动的系统，其提供了支持更简单会计，新型衍生工具合同以及新类型费用的灵活机制。 被披露的期货合约（被称为付款人合约）包括不确定性期货合约，即定义初始价值和结算价值参数，利用结算系统的机制例如适应相关的支付。 因此，提供了合同和价格之间的一对多关系，其中每个价格部分可以被分配自己的付款人合同。 付款人合同的功能可能是保证相关职位的流动。 在一个实施例中，每当需要支付时动态创建付款人合同。

公开(公告)号：US09460468B2

公开(公告)日：2016-10-04

申请号：US13162821

申请日：2011-06-17

申请人： David Boberski ,  Edward Gogol ,  John Wiley ,  Richard Co ,  Steve Youngren ,  John Labuszewski

发明人： David Boberski ,  Edward Gogol ,  John Wiley ,  Richard Co ,  Steve Youngren ,  John Labuszewski

IPC分类号： G06Q40/00

CPC分类号： G06Q40/00 ,  G06Q20/28 ,  G06Q20/381 ,  G06Q20/387 ,  G06Q40/025 ,  G06Q40/04 ,  G06Q40/06

摘要： A system for moving money between accounts of traders by a central counterparty to facilitate payments, i.e. the movement of funds, there between is disclosed which provides a flexible mechanism which supports simpler accounting, new types of derivatives contracts as well new types fees. The disclosed futures contract, referred to as a “payer” contract, comprises a “no-uncertainty” futures contract, i.e. the initial value and settlement value parameters are defined, that leverages the mechanisms of the clearing system to, for example, accommodate related payments. Accordingly, a 1-to-many relationship between contracts and prices is provided whereby each price component may be assigned its own payer contract. The function of the payer contract may be to guarantee the movement of money from related positions. In one embodiment, payer contracts are dynamically created whenever a payment is needed.

公开(公告)号：US20070118455A1

公开(公告)日：2007-05-24

申请号：US11452653

申请日：2006-06-14

申请人： William Albert ,  Lori Flemm ,  Paul Bauerschmidt ,  Paul Callaway ,  Dmitriy Glinberg ,  Edward Gogol ,  Stephen Goldman ,  Andrew Greta ,  Bryan Hunter ,  Matthew Kelly ,  John Labuszewski ,  Paul Lichter ,  Jeffrey Mitchell ,  Ari Studnitzer ,  Shanthi Thiruthuvadoss ,  Tae Seok Yoo

发明人： William Albert ,  Lori Flemm ,  Paul Bauerschmidt ,  Paul Callaway ,  Dmitriy Glinberg ,  Edward Gogol ,  Stephen Goldman ,  Andrew Greta ,  Bryan Hunter ,  Matthew Kelly ,  John Labuszewski ,  Paul Lichter ,  Jeffrey Mitchell ,  Ari Studnitzer ,  Shanthi Thiruthuvadoss ,  Tae Seok Yoo

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04

摘要： The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.

摘要翻译： 所披露的系统和方法涉及允许在集中式配对清算机制（例如芝加哥商品交易所（CME））期货交易柜台（“OTC”）外汇交易（“外汇”）合约 交换系统（“交换”）。 所披露的系统和方法允许匿名交易，集中清算，有效结算和提供风险管理/信用审查机制，降低风险，降低交易成本，提高外汇市场的流动性。 特别地，所公开的实施例增加执行速度，促进对算法交易的日益增长的需求，增加的价格透明度，降低交易成本，客户到客户交易以及自动资产分配，经常性交易以及结算和结算效率。

公开(公告)号：US20120317055A1

公开(公告)日：2012-12-13

申请号：US13590505

申请日：2012-08-21

申请人： Dmitriy Glinberg ,  Tae S. Yoo ,  Dale A. Michaels ,  Edward Gogol

发明人： Dmitriy Glinberg ,  Tae S. Yoo ,  Dale A. Michaels ,  Edward Gogol

IPC分类号： G06Q40/06

CPC分类号： G06Q40/04 ,  G06Q40/00 ,  G06Q40/06

摘要： A system and method for risk analysis of a portfolio of derivative products is disclosed which is conducted based on a set of flexible rules. The system and method allow creating predefined sets of products for the purpose of future risk offsets. If a futures trade as a subset of that set of products that met a threshold level, then the subset is assigned the offset value (or a pro rata or other portion of the offset value) of the predefined set. For example, assume that the predefined set consists of one S&P 500 futures, one NASDAQ futures, one S&P Midcap 400 futures and one Russell 1000 futures and the threshold is three. If the futures trader holds any three of those four futures, the three futures can be grouped, assigned an offset value, and this group can be used as one asset for purpose of further risk offsets.

公开(公告)号：US08224742B2

公开(公告)日：2012-07-17

申请号：US12403193

申请日：2009-03-12

申请人： Edward Gogol ,  Dmitriy Glinberg ,  Dale Michaels

发明人： Edward Gogol ,  Dmitriy Glinberg ,  Dale Michaels

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q20/042 ,  G06Q20/10 ,  G06Q20/102 ,  G06Q20/108 ,  G06Q20/1085 ,  G06Q20/40 ,  G06Q40/00 ,  G06Q40/02 ,  G06Q40/025 ,  G06Q40/06

摘要： Systems and methods are disclosed for processing binary options (also referred to as digital options) in existing clearing systems, such as futures clearing systems. The binary option is treated, or processed, similar to standard options on a non-tradeable cash-settled underlying futures contract. A hypothetical instrument, referred to as a book instrument is created to facilitate clearing of the binary option. The book instrument has an expiration date after the expiration of the binary option, such as the day after the expiration of the binary option. For each binary option that expires in the money, a transaction is created for the book instrument future. The underlying book future has an assigned price that is a fixed amount less that the final price for the underlying statistical or actual value of the binary option at expiration. Transactions are loaded in the clearing system and processed and all positions are liquidated. Options exercise and assignment processing is performed in the clearing system as well as an associated clearing firm bookkeeping system.

摘要翻译： 公开了用于处理现有结算系统（例如期货结算系统）中的二元期权（也称为数字期权）的系统和方法。 二元期权在不可交易的现金结算的基础期货合约上处理或处理与标准期权相似。 创建一种称为书本工具的假设工具，以便于清除二进制选项。 书籍工具在二进制选项到期后有到期日，例如二进制选项到期之日。 对于在货币中到期的每个二进制选项，将为书工具未来创建一个交易。 基础图书未来的分配价格是一个固定的金额，少于二值期权到期的基本统计或实际值的最终价格。 交易在清算系统中加载并处理，所有仓位都被清算。 期权执行和转让处理在结算系统以及相关的结算公司簿记系统中执行。

公开(公告)号：US08073764B2

公开(公告)日：2011-12-06

申请号：US12188601

申请日：2008-08-08

申请人： Dmitriy Glinberg ,  Tae S. Yoo ,  Dale A. Michaels ,  Edward Gogol

发明人： Dmitriy Glinberg ,  Tae S. Yoo ,  Dale A. Michaels ,  Edward Gogol

IPC分类号： G06Q40/00

CPC分类号： G06Q40/08 ,  G06Q40/00 ,  G06Q40/04 ,  G06Q40/06

摘要： A risk management system and method is disclosed which utilizes a flexible and configurable set of spreading techniques which may be incorporated into existing risk management software to enhance functionality, flexibility and accuracy. In the disclosed embodiments, multiple different types of spreading are combined to allow for a more accurate assessment of risk. In one exemplary embodiment, a subset of the derivative products held by a futures trader are first analyzed by the scanning based spreading methodology. Typically, futures products in the same class of products (e.g. equity futures or agricultural futures) would be analyzed together by the scanning based spreading methodology. Then an average delta would be calculated for that subset. Using that delta, that subset would then be analyzed in relation to the remaining derivative products (not in the subset) using a delta based spreading methodology. The delta for the subset could be computed in a variety of ways including scaling the deltas for each product, tying the delta to a fixed time period or other methods.

摘要翻译： 公开了一种风险管理系统和方法，该风险管理系统和方法利用可以并入现有风险管理软件的灵活且可配置的一组扩展技术，以增强功能性，灵活性和准确性。 在所公开的实施例中，组合多种不同类型的扩展以允许更准确地评估风险。 在一个示例性实施例中，由期货交易者持有的衍生产品的子集首先通过基于扫描的扩展方法进行分析。 通常，同一类产品（例如股票期货或农业期货）中的期货产品将通过基于扫描的扩展方法进行一起分析。 然后计算该子集的平均增量。 使用该增量，然后将使用基于增量的扩展方法来分析该子集相对于剩余的衍生产品（而不是子集）。 可以以各种方式计算子集的增量，包括缩放每个产品的增量，将增量绑定到固定时间段或其他方法。

公开(公告)号：US20110191235A1

公开(公告)日：2011-08-04

申请号：US13085094

申请日：2011-04-12

申请人： Dmitriy Glinberg ,  Edward Gogol ,  Tae Seok C. Yoo

发明人： Dmitriy Glinberg ,  Edward Gogol ,  Tae Seok C. Yoo

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/00 ,  G06Q40/025 ,  G06Q40/06

摘要： A hybrid cross-margining system is disclosed. The disclosed provides for both joint accounts, maintained by multiple exchanges, as well as non-joint accounts, whereby the system recognizes both intra-account offsets within the joint account and inter-exchange offsets between the joint account and accounts maintained by another exchange to minimize the margin requirement of the associated market participant with respect to the positions reflected in these accounts.

摘要翻译： 公开了一种混合交叉边缘系统。 所披露的条款规定了由多个交易所维持的联合账户以及非联合账户，系统确认联合账户内的账户内部抵消以及其他交易所维持的账户与账户之间的互换抵消 最小化相关市场参与者对这些帐户中反映的职位的保证金要求。

公开(公告)号：US07930245B2

公开(公告)日：2011-04-19

申请号：US12858911

申请日：2010-08-18

申请人： Dmitriy Glinberg ,  Edward Gogol ,  Tae Seok C. Yoo

发明人： Dmitriy Glinberg ,  Edward Gogol ,  Tae Seok C. Yoo

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/00 ,  G06Q40/025 ,  G06Q40/06

摘要： A hybrid cross-margining system is disclosed. The disclosed provides for both joint accounts, maintained by multiple exchanges, as well as non-joint accounts, whereby the system recognizes both intra-account offsets within the joint account and inter-exchange offsets between the joint account and accounts maintained by another exchange to minimize the margin requirement of the associated market participant with respect to the positions reflected in these accounts.

摘要翻译： 公开了一种混合交叉边缘系统。 所披露的条款规定了由多个交易所维持的联合账户以及非联合账户，系统确认联合账户内的账户内部抵消以及其他交易所维持的账户与账户之间的互换抵消 最小化相关市场参与者对这些帐户中反映的职位的保证金要求。

公开(公告)号：US20100312720A1

公开(公告)日：2010-12-09

申请号：US12858911

申请日：2010-08-18

申请人： Dmitriy Glinberg ,  Edward Gogol ,  Tae Seok C. Yoo

发明人： Dmitriy Glinberg ,  Edward Gogol ,  Tae Seok C. Yoo

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/00 ,  G06Q40/025 ,  G06Q40/06

摘要： A hybrid cross-margining system is disclosed. The disclosed provides for both joint accounts, maintained by multiple exchanges, as well as non-joint accounts, whereby the system recognizes both intra-account offsets within the joint account and inter-exchange offsets between the joint account and accounts maintained by another exchange to minimize the margin requirement of the associated market participant with respect to the positions reflected in these accounts.

摘要翻译： 公开了一种混合交叉边缘系统。 所披露的条款规定了由多个交易所维持的联合账户以及非联合账户，系统确认联合账户内的账户内部抵消以及其他交易所维持的账户与账户之间的互换抵消 最小化相关市场参与者对这些帐户中反映的职位的保证金要求。

公开(公告)号：US20090177592A1

公开(公告)日：2009-07-09

申请号：US12403743

申请日：2009-03-13

申请人： Dmitriy Glinberg ,  Tae S. Yoo ,  Dale A. Michaels ,  Edward Gogol

发明人： Dmitriy Glinberg ,  Tae S. Yoo ,  Dale A. Michaels ,  Edward Gogol

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/00 ,  G06Q40/06

摘要： A system and method for risk analysis of a portfolio of derivative products is disclosed which is conducted based on a set of flexible rules. The system and method allow creating predefined sets of products for the purpose of future risk offsets. If a futures trade as a subset of that set of products that met a threshold level, then the subset is assigned the offset value (or a pro rata or other portion of the offset value) of the predefined set. For example, assume that the predefined set consists of one S&P 500 futures, one NASDAQ futures, one S&P Midcap 400 futures and one Russell 1000 futures and the threshold is three. If the futures trader holds any three of those four futures, the three futures can be grouped, assigned an offset value, and this group can be used as one asset for purpose of further risk offsets.

摘要翻译： 披露了基于一套灵活规则进行衍生产品组合风险分析的系统和方法。 系统和方法允许创建预定义的产品集，以期将来的风险抵消。 如果期货交易作为满足阈值水平的该组产品的子集，则该子集被分配预定义集合的偏移值（或偏移值的比例或其他部分）。 例如，假设预定义的集合包含一个标准普尔500期货，一个纳斯达克期货，一个标普中盘400期货和一个罗素1000期货，阈值为三。 如果期货交易员持有这四个期货中的三个期货，则可以对三个期货进行分组，分配一个抵消价值，该组可作为一个资产用于进一步的风险抵消。