Abstract: 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.

Abstract: 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.

Abstract: 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.

Abstract: A method of simulating a split ? axle test for limited slip differentials for automotive applications. The method includes treating a clutch pack for a limited slip differential in a lubricant composition for a first period of time at a predetermined temperature. The clutch pack is mounted in a friction testing rig. A predetermined amount of test fluid is provided to the testing rig. A drive for the testing rig is cycled on and off for a predetermined number of on and off cycles. When the drive is on, a predetermined relative rotational speed between friction plates and metal plates in the clutch pack is generated.

Abstract: A system and method for analyzing, administering and managing risk for portfolio including at least one product having substantially asymmetric risk exposures is disclosed. The system and method includes determining a first margin for a first position associated with a financial product, wherein the financial product represents an event having disparate risk positions, and determining a second margin for a second position associated with the financial product, wherein the second margin is related to the first margin as an exponential function. The system and method further include calculating a cash flow according to the first margin for the first position and the second margin for the second position.

Abstract: Systems and methods are disclosed for processing binary options (also referred to as digital options) in existing clearing systems, such as futures clearing systems. The binary option is treated, or processed, similar to standard options on a non-tradeable cash-settled underlying futures contract. A hypothetical instrument, referred to as a book instrument is created to facilitate clearing of the binary option. The book instrument has an expiration date after the expiration of the binary option, such as the day after the expiration of the binary option. For each binary option that expires in the money, a transaction is created for the book instrument future. The underlying book future has an assigned price that is a fixed amount less that the final price for the underlying statistical or actual value of the binary option at expiration. Transactions are loaded in the clearing system and processed and all positions are liquidated.

Abstract: A system and method for analyzing a portfolio that includes a variety of diverse products is disclosed. The system and method determines the extent or non-extent of the correlation between the products within the portfolio in order to offset the risk associated with the portfolio. Thus, if the products within the portfolio are determined to be diverse and uncorrelated, a credit can be assigned or applied to the portfolio or an initial margin associated with the portfolio in order to determine a diversification spread based performance bond or margin that reflects the determined risk of the portfolio.

Abstract: A system and method for factoring in a trader's trading activity into the margin requirements is disclosed. In the securities arena, day traders are assessed different margins than non-day-traders, however, the specific profile of the trader is analyzed (that is, the same rule applies to all day traders).

Abstract: 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.

Abstract: 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.

Abstract: 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.

Abstract: A graphic user interface is disclosed that combines a traditional trading, bookkeeping system or clearing system window with a detailed margin and/or collateral asset calculation analysis window on a single screen. The disclosed GUI provides the flexibility to analyze any combination of products or instrument classes such as single stock futures, futures (of all types), options (of all types), forward contracts, security options, securities and cash-based assets. Conventional systems merely block entry of orders beyond a predetermined credit limit or display clearing/bookkeeping information on all types of portfolio or accounts.

Abstract: 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.

Abstract: 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.

Abstract: A pogo stick includes (a) a handle, (b) a bellows extending from the handle, (c) a helical spring disposed within, and coupled to, the bellows to become constrained when the bellows is constrained, (d) an actuator disposed within the helical turns of the spring, (e) a platform disposed on the actuator for supporting a user standing on the platform and (f) a at the bottom of the actuator. When the bellows and the spring are constrained, the release of the constraint causes the pogo stick to hop on a support surface. Training members made from a resilient material and disposed at opposite ends of the platform are coupled to the platform at intermediate positions along their length. The training members are disposed in the direction that the user is facing when he stands on the platform. The training members extend outwardly and downwardly from the platform to a support surface to provide a support on the support surface at four (4) spaced positions.

Abstract: A vehicle seat assembly for mounting on a vehicle floor including a seat bottom pivotally mounted relative to the vehicle floor. The seat bottom defines an upper surface and an opposed lower surface. The seat bottom is movable between a seating position, wherein the upper surface faces upwards, and a storage position, wherein the lower surface faces upwards. A panel is pivotally connected to the seat bottom. The panel is automatically moved between a first position underneath the seat bottom when the seat bottom is in the seating position, and a generally horizontally deployed position when the seat bottom is moved to the storage position.

Abstract: A vehicle seat assembly for mounting on a vehicle floor includes a cross bar having ends adapted to be mounted on the vehicle floor. The vehicle seat assembly further includes a seat bottom having a rear portion pivotally mounted on the cross bar such that the seat bottom is structurally secured to the vehicle. The seat bottom defines an upper surface and a lower surface. The seat bottom is pivotable about the cross bar to a storage position within a recess formed in the floor of the vehicle.

Abstract: A vehicle seat assembly for mounting on a vehicle floor including a seat bottom pivotally mounted relative to the vehicle floor. The seat bottom defines an upper surface and an opposed lower surface. The seat bottom is movable between a seating position, wherein the upper surface faces upwards, and a storage position, wherein the lower surface faces upwards. A panel is pivotally connected to the seat bottom. The panel is automatically moved between a first position underneath the seat bottom when the seat bottom is in the seating position, and a generally horizontally deployed position when the seat bottom is moved to the storage position.

Abstract: A vehicle seat assembly for mounting on a vehicle floor includes a cross bar having ends adapted to be mounted on the vehicle floor. The vehicle seat assembly further includes a seat bottom having a rear portion pivotally mounted on the cross bar such that the seat bottom is structurally secured to the vehicle. The seat bottom defines an upper surface and a lower surface. The seat bottom is pivotable about the cross bar to a storage position within a recess formed in the floor of the vehicle.