Patents Assigned to Option
  • Patent number: 8209255
    Abstract: A system and method of allocating rights for quoting issues on a trading facility such as an exchange is described. The method may include providing market participants such as remote market makers with a listing of issues available for remote quote streaming where the available issues are ranked according to predetermined trading parameters. A market participant requests allocations of rights to certain issues and the request is filtered according to a value associated with the ranking of the selected issues. The system includes an issue selection database having a listing of issues available for trading where each issue is ranked based on a trading parameter. An issue selection communication module communicates with the issue selection database and is configured to list available issues and rankings. An issue allocation filter receives a market participant request and compares the selected issues in that request to one or more exchange-based rules.
    Type: Grant
    Filed: July 14, 2010
    Date of Patent: June 26, 2012
    Assignee: Chicago Board Options Exchange, Incorporated
    Inventors: Daniel R. Hustad, Larry Pfaffenbach, John E. Smollen
  • Patent number: 8204816
    Abstract: A method and system for creating a stock index for a group of investment management companies is disclosed. The method may include obtaining first trade information for each security representative of the group of investment management companies during a first time period, aggregating the first trade information for a predetermined time period, storing the aggregated first trade information, calculating from the aggregated first trade information an index for the group of investment management companies, determining a standardized measure of the index based on the aggregated first trade information obtained in the first time period, and periodically recalculating the index based on second trade information for each security representative of the group of investment management companies during a second time period.
    Type: Grant
    Filed: August 16, 2011
    Date of Patent: June 19, 2012
    Assignee: Chicago Board Options Exchange
    Inventors: William Brodsky, William Speth
  • Patent number: 8197730
    Abstract: A method is provided for forming a feedstock material for use in net shape molded component that includes an integral metallized coating or layer on the exterior surface thereof. The feedstock includes a carefully matched mixture of polymer resin and a metallic alloy that is suitable for use in a molding method that includes melting and injecting the material into a mold cavity under pressure. Due to the differential in material viscosities, the metal tends to migrate to the outer surface of the molded part when placed under pressure, ultimately creating a net shape molded part having a polymer core with a metallic layer at the exterior surfaces thereof.
    Type: Grant
    Filed: July 24, 2007
    Date of Patent: June 12, 2012
    Assignee: Cool Options, Inc.
    Inventor: Kevin A. McCullough
  • Patent number: 8175958
    Abstract: A system and method of trading combined orders in an exchange configured for trading by a combination of electronic and open-outcry trading mechanisms is provided. One method includes receiving an incoming order having a first order component and a second order component at an electronic trade engine and routing the first and second order components to a first electronic database. The first and second order components are matched and executed against order components maintained in the first and second electronic databases, respectively. Any unexecuted first and second order components are placed in an electronic book according to a predetermined program if the first or second order component cannot be completely matched against any order components maintained in one of the first or second electronic databases. The system includes a trade engine configured for receiving combined orders from market makers.
    Type: Grant
    Filed: October 21, 2010
    Date of Patent: May 8, 2012
    Assignee: Chicago Board Options Exchange, Incorporated
    Inventor: Eileen C. Smith
  • Patent number: 8165953
    Abstract: An investment instrument based on a range of index values is disclosed that allows investors to take risk positions relative to the size, or length, of the range. The investment instrument has a monetary value that increases as the index value increases within a low range interval of the range, decreases as the index value increases within a high range interval of the range, and is fixed or capped if the index value falls within a middle range interval of the range. Typically, one settlement amount will be zero and the other will be an amount greater than the investment instrument price.
    Type: Grant
    Filed: September 4, 2007
    Date of Patent: April 24, 2012
    Assignee: Chicago Board Options Exchange, Incorporated
    Inventors: Marty O'Connell, John Hiatt, Jr., William Speth
  • Publication number: 20120078698
    Abstract: A method and system for reserving future purchases of goods or services or events including plural electronic options with associated option fees for the goods or services or events. The plural electronic options include electronic option terms established by one or more suppliers who can supply the goods or services or events. The purchase of the electronic option is accepted according to electronic option terms established by the desired supplier. The option terms may vary greatly among the individual suppliers and no two suppliers may use the same option terms. Demographic information is collected from purchasers of electronic options and used to allow other suppliers of goods or services or events to target such purchasers. Various fees are generated for display, purchase, exercise or non-exercise of electronic options.
    Type: Application
    Filed: October 3, 2011
    Publication date: March 29, 2012
    Applicant: Option It, Inc.
    Inventors: Christian S. Pappas, Charles P. Brown
  • Patent number: 8140425
    Abstract: A system and method for creating a volatility arbitrage bench mark index is disclosed. The method includes obtaining closing prices of an underlying instrument, such as a derivative investment instrument, and calculating a value representing a volatility arbitrage benchmark. The value may be displayed at a trading facility and volatility arbitrage benchmark quotes may be transmitted by the trading facility to a market participant.
    Type: Grant
    Filed: October 19, 2007
    Date of Patent: March 20, 2012
    Assignee: Chicago Board Options Exchange, Incorporated
    Inventor: John C. Hiatt, Jr.
  • Patent number: 8121934
    Abstract: A method of creating and trading packaged standard option collars on an exchange is provided, as well as a trading facility for trading such packaged standard option collars. Collars are created by identifying an underlying asset, a first leg of a collar is determined by determining the desired strike price for the first leg and selecting a standard option contract traded on the exchange having a strike price closest to the desired strike price. The second leg is determined by selecting another standard option, the opposite of the first leg, having an option price substantially offsetting the option price of the first leg. Once the legs of the collar have been selected the collar package may be listed on the exchange, and orders for the collars may be processed by matching orders for opposite positions in the collar.
    Type: Grant
    Filed: June 9, 2009
    Date of Patent: February 21, 2012
    Assignee: Chicago Board Options Exchange Incorporated
    Inventor: Dennis M. O'Callahan
  • Patent number: 8108290
    Abstract: A method and system for determining and displaying market sentiment information is disclosed. The method may include obtaining customer opening option activity information from an order routing system database, excluding spread transactions from the customer opening option activity information, calculating a sum of buy call trades and sell put trades from the customer opening option activity information, calculating a total number of customer trades from the customer opening option activity information and dividing the sum of buy call trades and sell put trades by the total number of customer trades to calculate an indicator value. The indicator value may be recalculated every N period until an end of a trading day using all trades through the N period in the trading day.
    Type: Grant
    Filed: February 13, 2008
    Date of Patent: January 31, 2012
    Assignee: Chicago Board Options Exchange, Incorporated
    Inventors: William Speth, Steve Chodash
  • Patent number: 8098577
    Abstract: Method and device for managing simultaneous connections of a mobile telecommunications device to at least a wireless local area network and a mobile telephone network via a single terminal of the mobile telecommunications device, the method including the steps of: (a) establishing a first wireless connection of the terminal with the wireless local area network, (b) establishing a second wireless connection of the terminal with the mobile telephone network, (c) responding to each network at predetermined times, such that the first and second wireless connections are maintained, and (d) preventing simultaneous transmittals of data from the terminal to both networks over the first and second wireless connections.
    Type: Grant
    Filed: June 3, 2005
    Date of Patent: January 17, 2012
    Assignee: Option
    Inventors: Chris De Vos, Axel Schollaert, Lambert Achien, Jan Vercruysse
  • Publication number: 20110307279
    Abstract: A method and system for reserving future purchases of goods or services using plural electronic options. The purchased electronic options are automatically exercised upon completion of an electronic purchase transaction for a desired good or service associated with the purchased electronic option and a final purchase price automatically adjusted based on exercising the electronic option. The final purchase price is adjusted based on electronic option terms as well as other factors including reward points, loyalty points, etc.
    Type: Application
    Filed: June 13, 2011
    Publication date: December 15, 2011
    Applicant: Option It, Inc.
    Inventors: Christian S. PAPPAS, Charles P. BROWN
  • Publication number: 20110301986
    Abstract: A method and system for reserving future purchases of airline tickets using plural electronic options. The electronic options are used to reserve plural airline fares on a plural airline routes to plural destinations and a plural of fare classes for a pre-determined period. A final airline fare, route, destination and fare class is determined when the electronic option is actually exercised. All other reservations are automatically canceled. The method and system allows the electronic options to be purchased to book now and pay later for airline tickets and other travel related goods and services such rental cars, hotel rooms, event tickets, local attraction tickets, theme park tickets, etc.
    Type: Application
    Filed: July 26, 2011
    Publication date: December 8, 2011
    Applicant: Option It, Inc.
    Inventors: Christian S. Pappas, Charles P. Brown
  • Patent number: 8054164
    Abstract: Transmitter for distributing data signals, characterised in that it is provided with receiving means for collecting one or several data signals, a control unit (5) and a transmitting unit (3) connected thereto for transmitting an above-mentioned data signal via a network to one or several addressable receivers (6) from a series of pre-selected users, after the above-mentioned control unit (5) has received a starting signal to this end.
    Type: Grant
    Filed: May 29, 2006
    Date of Patent: November 8, 2011
    Assignee: Option NV
    Inventors: Koenraad Karl Celest Faes, Paul Frans Marta Mortelmans
  • Patent number: 8048822
    Abstract: A method for producing carbon-silica products from silica-containing plant matter such as rice hulls or straw by leaching with sulfuric acid to remove non-silica minerals and metal while adjusting the mole ratio of fixed carbon to silica in the resultant product. The carbon and silica are intimately mixed on a micron or submicron scale and are characterized by high purity and reactivity, small particle size, high porosity, and contain volatile carbon that can be used as a source of energy for the production of silicon-containing products from the carbon-silica products. High purity silicon-containing products made from the carbon-silica products of the invention are also disclosed.
    Type: Grant
    Filed: September 10, 2009
    Date of Patent: November 1, 2011
    Assignee: Si Options, LLC
    Inventors: Norman D. Hinman, Charles S. Wyman
  • Patent number: 8032447
    Abstract: A method and system for reserving future purchases of goods or services or events including plural electronic options with associated option fees for the goods or services or events. The plural electronic options include electronic option terms established by one or more suppliers who can supply the goods or services or events. The purchase of the electronic option is accepted according to electronic option terms established by the desired supplier. The option terms may vary greatly among the individual suppliers and no two suppliers may use the same option terms. Final pricing and final features of the goods or services or final pricing of events is determined using electronic counters for accepted purchases of electronic options that have decremented down to a desired pre-determined value.
    Type: Grant
    Filed: December 16, 2010
    Date of Patent: October 4, 2011
    Assignee: Option It, Inc.
    Inventors: Christian S. Pappas, Charles P. Brown
  • Patent number: 8027904
    Abstract: A method of creating and trading corporate debt security derivative investment instruments on an exchange, as well as a trading facility for trading such derivatives, is disclosed. Corporate debt security derivative investment instruments are created by identifying a credit rating service that includes a plurality of risk categories. Unique monetary values are mapped to risk categories and an entity rated by the credit rating service is identified. A corporate debt security derivative investment instrument is then created whose value is determined at least in part by the monetary value to which the risk category associated with the rated entity is mapped.
    Type: Grant
    Filed: April 21, 2006
    Date of Patent: September 27, 2011
    Assignee: Chicago Board Options Exchange, Incorporated
    Inventor: Dennis M. O'Callahan
  • Patent number: 8001026
    Abstract: A method and system for creating a stock index for a group of investment management companies is disclosed. The method may include obtaining first trade information for each security representative of the group of investment management companies during a first time period, aggregating the first trade information for a predetermined time period, storing the aggregated first trade information, calculating from the aggregated first trade information an index for the group of investment management companies, determining a standardized measure of the index based on the aggregated first trade information obtained in the first time period, and periodically recalculating the index based on second trade information for each security representative of the group of investment management companies during a second time period.
    Type: Grant
    Filed: December 28, 2009
    Date of Patent: August 16, 2011
    Assignee: Chicago Board Options Exchange
    Inventors: William Brodsky, William Speth
  • Patent number: 7996292
    Abstract: A method and system for reserving future purchases of goods or services using plural electronic options with associated option fees. The plural electronic options include a hierarchy of electronic options and plural different types electronic options terms.
    Type: Grant
    Filed: December 21, 2007
    Date of Patent: August 9, 2011
    Assignee: Option It, Inc.
    Inventors: Christian S. Pappas, Charles P. Brown
  • Patent number: 7980457
    Abstract: An automated trading exchange having integrated quote risk monitoring and quote modification services. An apparatus is implemented using at least one computer, having memory, and a processor. The computer is configured to receive orders and quotes, wherein specified ones of the quotes are contained in a quote group, and have associated trading parameters such as a risk threshold. Not all received quotes are required to have trading parameters as described herein. Preferably, the quote group contains all the quotes, or a subset of quotes, belonging to an individual market-maker for a given class of options contracts, or possibly the quotes of two or more market-makers that have identified themselves as belonging to a group for the purposes of risk monitoring and quote modification. The computer typically generates a trade by matching the received orders and quotes to previously received orders and quotes, and otherwise stores each of the received orders and quotes if a trade is not generated.
    Type: Grant
    Filed: February 22, 2008
    Date of Patent: July 19, 2011
    Assignee: Chicago Board Options Exchange, Incorporated
    Inventors: Ross G. Kaminsky, Richard A. Angell, Gordon D. Evora
  • Patent number: D662205
    Type: Grant
    Filed: July 13, 2011
    Date of Patent: June 19, 2012
    Assignee: Shoulder Options, Inc.
    Inventor: C. Scott Humphrey