Abstract: A method, system, computer program product, and data structure for trading in which a standardized contract is traded. The contract obligates a buyer and a seller to settle the contract based on a price of the contract at a first effective date. The contract is traded through an exchange that guarantees payment to the buyer of any amount owed to the buyer from the seller as a result of the contract and that guarantees payment to the seller of any amount owed to the seller from the buyer as a result of the contract. The price of the contract is determined based on preselected notional cash flows discounted by an interest rate swap curve obtained from a preselected swap rate source.
Type:
Grant
Filed:
December 11, 1998
Date of Patent:
October 16, 2001
Assignee:
Adams, Viner and Mosler, Ltd.
Inventors:
Warren B. Mosler, William P. McCauley, James M. Sherman