Patents Assigned to Farms Technology, LLC
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Publication number: 20130346281Abstract: Apparatus and method for trading commodities with automatic hedging for odd lot offers. The apparatus automatically accepts odd lot offers on behalf of buyers and aggregates them with other odd lot offers of the same commodity symbol until there are enough bushels to reach a predetermined threshold, or “tipping point,” which causes the system to automatically calculate the optimum number of full lot futures contracts to sell at the market price in order to offset risk associated with accepting the odd lot offers, and to automatically secure the optimum number of full lot futures contracts. The system reduces or eliminates situations where no transactions are executed due to the market's failure to reach a certain price, and reduces the buyers' exposure to slippage on accumulated odd lots.Type: ApplicationFiled: August 27, 2013Publication date: December 26, 2013Applicant: FARMS TECHNOLOGY, LLCInventors: Heath E. Sutton, Jason G. Tatge
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Patent number: 8538858Abstract: Apparatus and method for trading commodities with automatic hedging for odd lot offers. The apparatus automatically accepts odd lot offers on behalf of buyers and aggregates them with other odd lot offers of the same commodity symbol until there are enough bushels to reach a predetermined threshold, or “tipping point,” which causes the system to automatically calculate the optimum number of full lot futures contracts to sell at the market price in order to offset risk associated with accepting the odd lot offers, and to automatically secure the optimum number of full lot futures contracts. The system reduces or eliminates situations where no transactions are executed due to the market's failure to reach a certain price, and reduces the buyers' exposure to slippage on accumulated odd lots.Type: GrantFiled: April 12, 2011Date of Patent: September 17, 2013Assignee: Farms Technology, LLCInventors: Heath E. Sutton, Jason G. Tatge
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Publication number: 20120215672Abstract: Apparatus and method for trading commodities with automatic hedging for odd lot offers. The apparatus automatically accepts odd lot offers on behalf of buyers and aggregates them with other odd lot offers of the same commodity symbol until there are enough bushels to reach a predetermined threshold, or “tipping point,” which causes the system to automatically calculate the optimum number of full lot futures contracts to sell at the market price in order to offset risk associated with accepting the odd lot offers, to automatically secure the optimum number of full lot futures contracts. The system reduces or eliminates situations where no transactions are executed due to the market's failure to reach a certain price, and reduces the buyers' exposure to slippage on accumulated odd lots.Type: ApplicationFiled: April 12, 2011Publication date: August 23, 2012Applicant: FARMS TECHNOLOGY, LLCInventors: Heath E. Sutton, Jason G. Tatge
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Patent number: 7991685Abstract: The invention is directed to methods and systems for commodities procurement with concomitant hedging. The invention enables automatic commodity purchase at a desired basis level when a seller's price matches a buyer's basis bid and concomitantly automatically placing an electronic commodities order to hedge the buyer's purchase.Type: GrantFiled: March 18, 2009Date of Patent: August 2, 2011Assignee: Farms Technology, LLCInventors: Jason G Tatge, Daniel Scott Fritsch
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Patent number: 7840475Abstract: The invention is directed to methods and systems for commodities procurement with concomitant hedging. The invention enables automatic commodity purchase at a desired basis level when a seller's price matches a buyer's basis bid and concomitantly automatically placing an electronic commodities order to hedge the buyer's purchase.Type: GrantFiled: August 1, 2002Date of Patent: November 23, 2010Assignee: Farms Technology, LLCInventors: Jason G Tatge, Daniel Scott Fritsch
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Patent number: 7742979Abstract: An integrated virtual market is provided that facilitates communication between the producers of a given commodity and the parties wishing to purchase such commodities. This system provides real-time updated information about local pricing being offered by those purchasers. In addition, those producers can post offers that can automatically be accepted by purchasers and have contracts automatically generated. An important consideration from a purchaser's prospective is minimizing the risk associated with making such transactions. Due to this, futures contracts are often obtained. The virtual market system of the present inventions automatically requests and obtains futures contracts to hedge the contracts being generated.Type: GrantFiled: June 6, 2008Date of Patent: June 22, 2010Assignee: Farms Technology, LLCInventors: Gary Reding, Kent Beadle, Chris Nikkel, Mark Schulze, Walker Humphries, Dave Womeldorf, David Clark, Scott Cerreta, Carl Ozkaynak, Julia A. Granada Rodriguez
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Publication number: 20080301034Abstract: An integrated virtual market is provided that facilitates communication between the producers of a given commodity and the parties wishing to purchase such commodities. This system provides real-time updated information about local pricing being offered by those purchasers. In addition, those producers can post offers that can automatically be accepted by purchasers and have contracts automatically generated. An important consideration from a purchaser's prospective is minimizing the risk associated with making such transactions. Due to this, futures contracts are often obtained. The virtual market system of the present inventions automatically requests and obtains futures contracts to hedge the contracts being generated.Type: ApplicationFiled: June 6, 2008Publication date: December 4, 2008Applicant: FARMS TECHNOLOGY, LLCInventors: GARY REDING, KENT BEADLE, CHRIS NIKKEL, MARK SCHULZE, WALKER HUMPHRIES, DAVE WOMELDORF, DAVID CLARK, SCOTT CERRETA, CARL OZKAYNAK, JULIA A. GRANADA RODRIGUEZ
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Patent number: 7418423Abstract: An integrated virtual market is provided that facilitates communication between the producers of a given commodity and the parties wishing to purchase such commodities. This system provides real-time updated information about local pricing being offered by those purchasers. In addition, those producers can post offers that can automatically be accepted by purchasers and have contracts automatically generated. An important consideration from a purchaser's prospective is minimizing the risk associated with making such transactions. Due to this, futures contracts are often obtained. The virtual market system of the present inventions automatically requests and obtains futures contracts to hedge the contracts being generated.Type: GrantFiled: June 17, 2004Date of Patent: August 26, 2008Assignee: Farms Technology, LLCInventors: Gary Reding, Kent Beadle, Chris Nikkel, Mark Schulze, Walker Humphries, Dave Womeldorf, David Clark, Scott Cerreta, Carl Ozkaynak, Julia A. Granada Rodriguez