Abstract: A method of settling trades includes the steps of obtaining an authenticated delivery instrument, wherein the authenticated delivery instrument is authenticated by a first exchange and may be used to settle a trade undertaken on the first exchange. An electronic proxy is issued for the delivery instrument, wherein the electronic proxy may be exchanged for the authenticated delivery instrument and where the electronic proxy is used to settle a trade undertaken on a second exchange.
Type:
Grant
Filed:
April 7, 2010
Date of Patent:
December 27, 2011
Assignee:
Board of Trade of the City of Chicago, Inc.
Abstract: A method of allocating a quantity of an incoming order for a product develops a value that indicates a portion of the incoming order this is to be allocated using a FIFO algorithm and allocates a first portion of the incoming order to standing orders using the FIFO algorithm. The method further allocates a second portion of the incoming order to standing orders using a pro-rata algorithm, wherein the step of allocating the second portion leaves a remaining quantity of the incoming order. In addition, the method allocates the remaining portion to the standing orders using a FIFO algorithm.
Type:
Grant
Filed:
March 29, 2007
Date of Patent:
December 14, 2010
Assignee:
Board of Trade of the City of Chicago
Inventors:
Andrew Czupek, Bryan T. Durkin, Thomas G. McCabe, Brian M. Wolf, Donald M. Cuba, Jonathan Kronstein, Troy C. Mathe
Abstract: A method of settling trades includes the steps of obtaining an authenticated delivery instrument, wherein the authenticated delivery instrument is authenticated by a first exchange and may be used to settle a trade undertaken on the first exchange. An electronic proxy is issued for the delivery instrument, wherein the electronic proxy may be exchanged for the authenticated delivery instrument and where the electronic proxy is used to settle a trade undertaken on a second exchange.
Type:
Grant
Filed:
July 16, 2007
Date of Patent:
May 25, 2010
Assignee:
Board of Trade of the City of Chicago, Inc.
Abstract: Positions held by a trader are made fungible by selecting a first position in a first futures contract that is deliverable and selecting a second position in a second futures contract, wherein the first and second futures contracts are traded in a first and second market, respectively. Offsetting the first and the second positions eliminates a delivery obligation of the trader.
Abstract: A capital markets index and related futures contracts are provided. The index of the present invention indexes marginal returns available on capital markets free of default risk. The index of the present invention uses chain-linked futures contracts both as measuring instruments and as building blocks. The futures contract of the present invention is based on the index of the present invention.
Abstract: A futures contract in accordance with the principals of the present invention comprises a way to hedge exposure in when issued securities as well as in the auction bidding process. The trading unit is the notional value of a yet-to-be issued Treasury note. The futures contract is quoted in yield terms, in basis points and fractions of basis points. The last trading day of the futures contract is the day a Treasury note is auctioned, at the same time as the auction takes place. The delivery standard is the auction yield result announced by the Federal Reserve Bank. The futures contract settles for cash.
Type:
Application
Filed:
May 2, 2003
Publication date:
November 4, 2004
Applicant:
The Board of Trade of the City of Chicago