Patents Examined by Thomas M Hammond, III
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Adjustable derivative securities and method for adjusting the value of same due to a corporate event
Patent number: 8165949Abstract: The claimed invention relates to an adjustable derivative contract. Particularly a method and system for adjusting the derivative contract to account for time value of money due to an occurrence of a corporate event that affects the value of the derivative contract. The claimed method and system allocates distributions amongst different derivative contracts, each derivative contract representing a different economic interest of at least two shares of an underlying security. The claimed invention uses the concepts of present and future values to value derivative contracts in order to more fairly and accurately represent the interests of the various holders of such derivative contracts upon the occurrence of a corporate event affecting the value of these derivative contracts.Type: GrantFiled: March 21, 2011Date of Patent: April 24, 2012Inventors: Peter A. Broms, Andrew M. Scott -
Adjustable derivative securities and method for adjusting the value of same due to a corporate event
Patent number: 8145551Abstract: The present invention relates to an adjustable equity derivative and method for allocating distributions amongst different adjustable derivative components of a security upon a corporate event effecting the underlying equity in a manner that factor in the time value of money. The present invention uses the concepts of present and future values with respect to valuing equity derivatives in order to more fairly and accurately represent the interests of the various holders of such adjustable components upon the occurrence of a corporate event affecting the value of the adjustable equity derivatives.Type: GrantFiled: October 27, 2006Date of Patent: March 27, 2012Inventors: Peter A. Broms, Andrew M. Scott -
Patent number: 8131614Abstract: Commercial size of spending wallet (“CSoSW”) is the total business spend of a business including cash but excluding bartered items. Commercial share of wallet (“CSoW”) is the portion of the spending wallet that is captured by a particular financial company. A modeling approach utilizes various data sources to provide outputs that describe a company's spend capacity. Marketing companies that sell lists compile those lists by searching one or more databases for names and/or businesses that match certain criteria. Those marketing companies can use the CSoW/CSoSW modeling approach to show predicted spend and/or revenues for each company on a list. This makes the list more valuable to list buyers.Type: GrantFiled: August 2, 2006Date of Patent: March 6, 2012Assignee: American Express Travel Related Services Company, Inc.Inventors: Kathleen Haggerty, Charles Christopher Lyon, Benedict O. Okoh, Robert E. Phelan, Jon Kevin Ruterman, Geraldine A. Turner, Chao M. Yuan, Arnab Biswas
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Patent number: 8126742Abstract: An automated assignment system may operate with a computer to automatically assign insurable events to one or more organizational entities associated with an insurance organization. The automated assignment system may categorize the insurable event. In addition, the automated assignment system may identify at least one target organizational entity based on the categorization that is capable of handling the insurable event. Identification of the target organizational entity or entities may be a function of properties associated with the insurable event and the availability of the organizational entity or entities. Automatic assignment may also be a function of the current workload of the target organizational entity or entities.Type: GrantFiled: May 9, 2003Date of Patent: February 28, 2012Assignee: Accenture Global Services LimitedInventors: William E. Bond, Jr., Michael A. Jackowski, Hussein Hezarkhani, Joseph J. Allogio, Cynthia S. Benes, Michael R. Krans, Josh Doyle
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Patent number: 8121893Abstract: Customization settings are received from a content publisher. The customization settings control a manner in which information is displayed to users. A request for an advertisement presentation to be displayed with content associated with the content publisher is received. The requested advertisement presentation is rendered in a content-related site hosted by the content publisher. In response to receiving a user selection of the advertisement presentation, a customized advertisement presentation is rendered in an advertisement-related site hosted by the content publisher based on the user selection and the customization settings.Type: GrantFiled: April 23, 2008Date of Patent: February 21, 2012Assignee: Google Inc.Inventors: Jerry P. Krikheli, Jennifer Sager, Nathan Lucash, Loren Donelson, Shannon P. Bauman, Kevan Newton
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Patent number: 8121926Abstract: A system and method for risk analysis of a portfolio of derivative products is disclosed which is conducted based on a set of flexible rules. The system and method allow creating predefined sets of products for the purpose of future risk offsets. If a futures trade as a subset of that set of products that met a threshold level, then the subset is assigned the offset value (or a pro rata or other portion of the offset value) of the predefined set. For example, assume that the predefined set consists of one S&P 500 futures, one NASDAQ futures, one S&P Midcap 400 futures and one Russell 1000 futures and the threshold is three. If the futures trader holds any three of those four futures, the three futures can be grouped, assigned an offset value, and this group can be used as one asset for purpose of further risk offsets.Type: GrantFiled: March 13, 2009Date of Patent: February 21, 2012Assignee: Chicago Mercantile Exchange Inc.Inventors: Dmitriy Glinberg, Tae S. Yoo, Dale A. Michaels, Edward Gogol
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Patent number: 8121918Abstract: Commercial size of spending wallet (“CSoSW”) is the total business spend of a business including cash but excluding bartered items. Commercial share of wallet (“CSoW”) is the portion of the spending wallet that is captured by a particular financial company. A modeling approach utilizes various data sources to provide outputs that describe a company's spend capacity. Government agencies, procurement departments, and others that patronize small businesses can use CSoW/CSoSW to determine businesses that should be awarded contracts and businesses that should be denied. CSoW/CSoSW may also be used to manage approved vendor lists.Type: GrantFiled: April 15, 2008Date of Patent: February 21, 2012Assignee: American Express Travel Related Services Company, Inc.Inventors: Kathleen Haggerty, Charles Christopher Lyon, Benedict O. Okoh, Robert E. Phelan, Jon Kevin Ruterman, Geraldine A. Turner, Chao M. Yuan, Arnab Biswas
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Adjustable derivative securities and method for adjusting the value of same due to a corporate event
Patent number: 8112342Abstract: The present invention relates to an adjustable equity derivative and method for allocating distributions amongst different adjustable derivative components of a security upon a corporate event effecting the underlying equity in a manner that factor in the time value of money. The present invention uses the concepts of present and future values with respect to valuing equity derivatives in order to more fairly and accurately represent the interests of the various holders of such adjustable components upon the occurrence of a corporate event affecting the value of the adjustable equity derivatives.Type: GrantFiled: June 1, 2009Date of Patent: February 7, 2012Inventors: Peter A. Broms, Andrew M. Scott -
Patent number: 8103569Abstract: This invention relates to a method for allocating distributions amongst different derivative components of a security upon a corporate event effecting the underlying equity in a manner that factors in the time value of money. The present invention uses the concepts of present and future values with respect to valuing equity derivatives in order to more fairly and accurately represent the interests of the various holders of such components upon the occurrence of a corporate event affecting the value of the equity derivatives.Type: GrantFiled: May 24, 2002Date of Patent: January 24, 2012Inventors: Peter A. Broms, Andrew Scott
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Patent number: 8086513Abstract: A system and method is disclosed for determining performance bonds related to fixed payoff products, i.e. contracts which payoff a fixed amount based on the outcome of an underlying event regardless of the particular value of the underlying event. The worst outcome of the overall portfolio, which may contain more than one instrument, is calculated. This permits the portfolio to have both long and short positions on the same underlying event and offsets, e.g. long (bought but not closed out) and short (sold but not closed out) positions, among instruments in the portfolio are factored in. A universe of outcomes is constructed including single events with single outcomes, and the probability thereof, an single events with multiple outcomes, each with a probability thereof. This universe is implemented in a matrix probabilities on different outcomes, also referred to as “strikes.” Each strike/outcome then has an associated price and probability, typically factored together as single value reflective of both.Type: GrantFiled: August 8, 2008Date of Patent: December 27, 2011Assignee: Chicago Mercantile Exchange, Inc.Inventors: Dmitriy Glinberg, Tae S. Yoo, Dale A. Michaels, Edward Gogol
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Patent number: 8086508Abstract: A delegated authority system allows an account holder to delegate authority to one or more individuals, such as financial advisors through a third party service. An individual receives authority to access financial accounts and/or access aggregated financial data. The individual may then retrieve account information from the individual accounts or from the aggregated financial data. In on exemplary system, the account information is accessed via the Internet or another data communication network.Type: GrantFiled: April 26, 2002Date of Patent: December 27, 2011Assignee: CashEdge, Inc.Inventors: Sanjeev Dheer, Venkatachari Dilip, Roy Messing, Jeremy Sokolic, Manu Sareen, Gautam Sinha
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Patent number: 8086509Abstract: Commercial size of spending wallet (“SoSW”) is the total business spend of a business including cash but excluding bartered items. Commercial share of wallet (“SoW”) is the portion of the spending wallet that is captured by a particular financial company. Commercial SoW is a modeling approach that utilizes various data sources to provide outputs that describe a company's spend capacity. These outputs can be appended to data profiles of customers and prospects and can be utilized to support decisions involving prospecting, new account evaluation, and customer management across the lifecycle. Company financial statements are utilized to identify and calculate total business spend of a company that could be transacted using a commercial credit card. A spend-like regression model may then be developed to estimate annual commercial SoSW value for customers and prospects within a credit network.Type: GrantFiled: August 2, 2006Date of Patent: December 27, 2011Assignee: American Express Travel Related Services Company, Inc.Inventors: Kathleen Haggerty, Charles Christopher Lyon, Robert E. Phelan, Jon Kevin Ruterman, Geraldine A. Turner, Chao M. Yuan, Arnab Biswas
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Patent number: 8073764Abstract: A risk management system and method is disclosed which utilizes a flexible and configurable set of spreading techniques which may be incorporated into existing risk management software to enhance functionality, flexibility and accuracy. In the disclosed embodiments, multiple different types of spreading are combined to allow for a more accurate assessment of risk. In one exemplary embodiment, a subset of the derivative products held by a futures trader are first analyzed by the scanning based spreading methodology. Typically, futures products in the same class of products (e.g. equity futures or agricultural futures) would be analyzed together by the scanning based spreading methodology. Then an average delta would be calculated for that subset. Using that delta, that subset would then be analyzed in relation to the remaining derivative products (not in the subset) using a delta based spreading methodology.Type: GrantFiled: August 8, 2008Date of Patent: December 6, 2011Assignee: Chicago Mercantile Exchange Inc.Inventors: Dmitriy Glinberg, Tae S. Yoo, Dale A. Michaels, Edward Gogol
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Patent number: 8073754Abstract: A system and method for using asymmetrical offsets for products in a risk management analysis system are disclosed. Conventional systems assign symmetrical offsets for products, that is, if two products have an 80% correlation they each would be assigned an offset of 80% with respect to each other. However, it is desirable to allow for asymmetrical offsets. In the disclosed system and method, when two products have a correlation of 80%, one may be assigned an offset of 75% and the other may be assigned an offset of 80%. There are many reasons to vary the offset between the products. The varying offset may reflect an asymmetry in the risk in one of the products, such as being traded in an illiquid market or in a less desirable venue. The varying offset may correct for an imbalance in spread credits due to special charges from intra spreading.Type: GrantFiled: November 13, 2008Date of Patent: December 6, 2011Assignee: Chicago Mercantile Exchange Inc.Inventors: Dmitriy Glinberg, Tae S. Yoo, Dale A. Michaels, Edward Gogol
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Patent number: 8073752Abstract: Commercial size of spending wallet (“CSoSW”) is the total business spend of a business including cash but excluding bartered items. Commercial share of wallet (“CSoW”) is the portion of the spending wallet that is captured by a particular financial company. A modeling approach utilizes various data sources to provide outputs that describe a company's spend capacity. Research analysts can use CSoW/CSoSW to provide a comprehensive and robust indication of the business prospects of a rated company.Type: GrantFiled: April 15, 2008Date of Patent: December 6, 2011Assignee: American Express Travel Related Services Company, Inc.Inventors: Kathleen Haggerty, Charles Christopher Lyon, Benedict O. Okoh, Robert E. Phelan, Jon Kevin Ruterman, Geraldine A. Turner, Chao M. Yuan, Arnab Biswas
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Patent number: 8055571Abstract: The investment liquidation and purchase adjustment method is an investment model for open-ended investments that takes into account the net asset value (NAV) of the mutual fund and an accumulated stock brokerage transaction commission fees. The accumulated commission fees are added to the net asset value per share prior to the purchase of shares of the mutual fund. Alternatively, the accumulated commission fees are subtracted from the net asset value per share prior to the liquidation of the shares. These additional fees flow into the assets of the mutual fund. As accumulated brokerage transaction commissions change each day because of the trading of the positions in the mutual fund, the brokerage transaction commission's percentage change on a daily basis, too. This also solves the problem of maintaining the true asset value for existing shareholders when there are share liquidations by existing shareholders, protecting the true asset value for the remaining existing shareholders.Type: GrantFiled: April 15, 2011Date of Patent: November 8, 2011Assignee: Sacks Equalization Model, Inc.Inventor: Seymour Sacks
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Patent number: 8055567Abstract: A system and method for analyzing correlation between the assets given by the trader for collateral and that trader's open positions is disclosed. Thus, if the collateral is correlated to the trader's open positions, then some offset can be given. If there is no correlation than the collateral is valued in the conventional way. For example, if a trader provides t-bills as collateral for an account that has open positions (e.g. short futures) in T-bills, than that trader's account can be credited with some offset since the value of T-bills and T-bill futures are highly correlated.Type: GrantFiled: August 8, 2008Date of Patent: November 8, 2011Assignee: Chicago Mercantile Exchange Inc.Inventors: Dmitriy Glinberg, Tae S. Yoo, Dale A. Michaels, Edward Gogol
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Patent number: 8005748Abstract: A license exchange is provided that allows for companies who desire to obtain licenses for intellectual property and speculators to bid in order to set pricing for license contracts that provide for market rates to be set for such licenses. The exchange insures liquidity for such license contracts by providing market makers, scarcity features or modules and predetermined trading periods. In an embodiment the exchange may provide an electronic auction where license contracts may be traded by parties including patentees who may wish to avoid litigation and obtain fair and reasonable royalties for the patents underlying the license contracts being traded. The exchange also provides an alternate licensing resolution process where IP can be evaluated with respect to validity, valuated to determine a fair license rate and auctioned to licensees in a transparent bidding process.Type: GrantFiled: February 13, 2008Date of Patent: August 23, 2011Inventor: David L. Newman
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Patent number: 7996296Abstract: Methods and systems for conducting demand-based trading are described. In one embodiment, states are established, each state corresponding to at least one possible outcome of an event of economic significance. An investment amount may be determined as a function of a selected outcome, a desired payout, and a total amount invested in the states. In another embodiment, an investment amount may be determined as a function of parameters of a financial product. In another embodiment, a payout may be determined as a function of an investment amount, a selected outcome, a total amount invested in the states, and an identification of a state corresponding to an observed outcome of the event.Type: GrantFiled: September 10, 2001Date of Patent: August 9, 2011Assignee: Longitude LLCInventor: Jeffrey Lange
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Patent number: 7962384Abstract: A system, method, and computer program product for allocating assets among a plurality of investments to guarantee a predetermined value at the end of a predetermined time period. A computer program controls the allocation of assets in the investment vehicle, which allows the investor to initially invest one hundred percent of the initial deposit in non-secure, high risk investments. At the end of the each trading day, the computer program determines if assets should be reallocated from the non-secure investments to the secure investments, from the secure investments to the non-secure investments, or if no reallocation is necessary.Type: GrantFiled: April 12, 2002Date of Patent: June 14, 2011Assignee: The Prudential Insurance Company of AmericaInventors: Robert Arena, Robert O'Donnell, Robert Schwartz, N. David Kuperstock, Tim Paris, Robert Leach, Jacob Herschler, Mike Morell, Fiona Jackman-Ward