Patents Assigned to Farms Technology, LLC
  • Publication number: 20130346281
    Abstract: 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: Application
    Filed: August 27, 2013
    Publication date: December 26, 2013
    Applicant: FARMS TECHNOLOGY, LLC
    Inventors: Heath E. Sutton, Jason G. Tatge
  • Patent number: 8538858
    Abstract: 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: Grant
    Filed: April 12, 2011
    Date of Patent: September 17, 2013
    Assignee: Farms Technology, LLC
    Inventors: Heath E. Sutton, Jason G. Tatge
  • Publication number: 20120215672
    Abstract: 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: Application
    Filed: April 12, 2011
    Publication date: August 23, 2012
    Applicant: FARMS TECHNOLOGY, LLC
    Inventors: Heath E. Sutton, Jason G. Tatge
  • Patent number: 7991685
    Abstract: 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: Grant
    Filed: March 18, 2009
    Date of Patent: August 2, 2011
    Assignee: Farms Technology, LLC
    Inventors: Jason G Tatge, Daniel Scott Fritsch
  • Patent number: 7840475
    Abstract: 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: Grant
    Filed: August 1, 2002
    Date of Patent: November 23, 2010
    Assignee: Farms Technology, LLC
    Inventors: Jason G Tatge, Daniel Scott Fritsch
  • Patent number: 7742979
    Abstract: 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: Grant
    Filed: June 6, 2008
    Date of Patent: June 22, 2010
    Assignee: Farms Technology, LLC
    Inventors: Gary Reding, Kent Beadle, Chris Nikkel, Mark Schulze, Walker Humphries, Dave Womeldorf, David Clark, Scott Cerreta, Carl Ozkaynak, Julia A. Granada Rodriguez
  • Publication number: 20080301034
    Abstract: 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: Application
    Filed: June 6, 2008
    Publication date: December 4, 2008
    Applicant: FARMS TECHNOLOGY, LLC
    Inventors: GARY REDING, KENT BEADLE, CHRIS NIKKEL, MARK SCHULZE, WALKER HUMPHRIES, DAVE WOMELDORF, DAVID CLARK, SCOTT CERRETA, CARL OZKAYNAK, JULIA A. GRANADA RODRIGUEZ
  • Patent number: 7418423
    Abstract: 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: Grant
    Filed: June 17, 2004
    Date of Patent: August 26, 2008
    Assignee: Farms Technology, LLC
    Inventors: Gary Reding, Kent Beadle, Chris Nikkel, Mark Schulze, Walker Humphries, Dave Womeldorf, David Clark, Scott Cerreta, Carl Ozkaynak, Julia A. Granada Rodriguez