Abstract: A municipal note index futures contract in accordance with the principles of the present invention includes a sufficient number of municipal bonds to maintain a broad reflection of the market as a whole. The municipal bonds represent a widely dispersed sampling. The municipal bonds are issued by an issuer who has a minimal credit rating depending on the target sector. The issue price of the bond must have a minimum value at its issuance date and each municipal bond must have a minimal principal size and be apart of a minimal offering size to be eligible for inclusion. The index is revised frequently enough to prevent the index from becoming “stale” while minimizing disruptions. Bonds that have had outsized price moves on settlement date are eliminated.
Type:
Application
Filed:
March 20, 2003
Publication date:
October 7, 2004
Applicant:
Chicago Board of Trade
Inventors:
Joseph F. Benning, Daniel W. Grombacher
Abstract: There is provided a broker workstation for managing orders in a market for trading commodities, securities, securities options, futures contracts and futures options and other items including: a device for selectively displaying order information; a computer for receiving the orders and for controlling the displaying device; and a device for entering the orders into the computer; wherein the displaying device comprises a device for displaying selected order information about each incoming order, a device for displaying a representation of an order deck and a device for displaying a total of market orders.
Type:
Grant
Filed:
March 6, 1990
Date of Patent:
March 22, 1994
Assignee:
Chicago Board of Trade
Inventors:
Burton J. Gutterman, John J. Brogan, Thomas Palenik, Dolores Panek, Shirley Wu