Patents by Inventor Dhiraj Bawadhankar
Dhiraj Bawadhankar has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).
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Publication number: 20230222595Abstract: A computer system may access data corresponding to a portfolio that comprises interest rate swaps and may calculate parameters for a compressed swap. The computer system may determine, based at least in part on the parameters for the compressed swap, a performance bond requirement attributable to the interest rate swaps. The computer system may compare the performance bond requirement to account data associated with a holder of the portfolio and may perform one or more additional actions based on the comparing.Type: ApplicationFiled: March 10, 2023Publication date: July 13, 2023Applicant: Chicago Mercantile Exchange Inc.Inventors: David Andrew Boberski, John Labuszewski, Michael O'Connell, John Wiley, Dhiraj Bawadhankar, Samantha Azzarello, Fateen Sharaby
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Publication number: 20230222583Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap and a second remnant swap to blend the plurality of swaps using the determined fixed rates. This may reduce the gross notional and/or the total clearing line items associated with the original swaps. In some cases, the computing device may determine one single swap for blending the plurality of swaps.Type: ApplicationFiled: February 27, 2023Publication date: July 13, 2023Applicant: Chicago Mercantile Exchange Inc.Inventors: Wansu Zhan, Dhiraj Bawadhankar
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Publication number: 20230177606Abstract: An illustrative computing device may include a processor and a non-transitory memory device for storing a data structure capable of being compressed, where the data structure includes a plurality of data elements and each of the plurality of data elements includes a date field and a quantity field. The computing device may process instructions to arrange the plurality of data elements in a consecutive series in date order based on a value stored in the date field of each data element, determine whether a gap appears in the consecutive series of data elements based on a value stored in the quantity field of each element, remove the determined gaps in each of the data elements, and repeat the determining and removing steps until a predetermined criterion has been reached.Type: ApplicationFiled: February 7, 2023Publication date: June 8, 2023Applicant: Chicago Mercantile Exchange Inc.Inventors: Suzanne Sprague, Sean Downey, Robert Taylor, Dhiraj Bawadhankar, Stephen Hurst, Matthew Simpson, Frederick Sturm
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Patent number: 11625784Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap and a second remnant swap to blend the plurality of swaps using the determined fixed rates. This may reduce the gross notional and/or the total clearing line items associated with the original swaps. In some cases, the computing device may determine one single swap for blending the plurality of swaps.Type: GrantFiled: May 5, 2022Date of Patent: April 11, 2023Assignee: Chicago Mercantile Exchange Inc.Inventors: Wansu Zhan, Dhiraj Bawadhankar
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Patent number: 11605130Abstract: An illustrative computing device may include a processor and a non-transitory memory device for storing a data structure capable of being compressed, where the data structure includes a plurality of data elements and each of the plurality of data elements includes a date field and a quantity field. The computing device may process instructions to arrange the plurality of data elements in a consecutive series in date order based on a value stored in the date field of each data element, determine whether a gap appears in the consecutive series of data elements based on a value stored in the quantity field of each element, remove the determined gaps in each of the data elements, and repeat the determining and removing steps until a predetermined criterion has been reached.Type: GrantFiled: January 12, 2022Date of Patent: March 14, 2023Assignee: Chicago Mercantile Exchange Inc.Inventors: Suzanne Sprague, Sean Downey, Robert Taylor, Dhiraj Bawadhankar, Stephen Hurst, Matthew Simpson, Frederick Sturm
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Publication number: 20220351190Abstract: Systems and methods for blending a plurality of FX forwards may include determining a signed sum of notional values associated with each of the primary currency component and the settlement currency component of each of the plurality of FX forwards for use in blending the plurality of FX forwards, each of the plurality of FX forwards having matching economics and a different associated fixed rate. A computing device may determine one or more remnant FX forwards to blend the plurality of FX forwards based, at least in part, using the determined sums of the notional values. This may reduce the gross notional and/or the total clearing line items associated with the original FX forwards. In some cases, the computing device may determine a single currency FX forward for blending the plurality of FX forwards.Type: ApplicationFiled: July 13, 2022Publication date: November 3, 2022Applicant: Chicago Mercantile Exchange Inc.Inventors: Simon Burnham, Dhiraj Bawadhankar, Steve Dayon, John Redfield, Fateen Sharaby
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Patent number: 11423397Abstract: Systems and methods for blending a plurality of FX forwards may include determining a signed sum of notional values associated with each of the primary currency component and the settlement currency component of each of the plurality of FX forwards for use in blending the plurality of FX forwards, each of the plurality of FX forwards having matching economics and a different associated fixed rate. A computing device may determine one or more remnant FX forwards to blend the plurality of FX forwards based, at least in part, using the determined sums of the notional values. This may reduce the gross notional and/or the total clearing line items associated with the original FX forwards. In some cases, the computing device may determine a single currency FX forward for blending the plurality of FX forwards.Type: GrantFiled: July 27, 2020Date of Patent: August 23, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Simon Burnham, Dhiraj Bawadhankar, Steve Dayon, John Redfield, Fateen Sharaby
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Publication number: 20220261910Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap and a second remnant swap to blend the plurality of swaps using the determined fixed rates. This may reduce the gross notional and/or the total clearing line items associated with the original swaps. In some cases, the computing device may determine one single swap for blending the plurality of swaps.Type: ApplicationFiled: May 5, 2022Publication date: August 18, 2022Applicant: Chicago Mercantile Exchange Inc.Inventors: Wansu Zhan, Dhiraj Bawadhankar
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Publication number: 20220261907Abstract: The disclosed embodiments relate to improving the efficiency of an electronic trading system for interest rate swaps (“IRS”) by allowing for IRS contracts to be funded in a base currency while the cash flows, e.g. coupon payments, price alignment interest, variation margin, are denominated in a local currency different from the base currency. Thereby cash flows may be netted and offset minimizing the magnitude of funds needed to be moved and reducing the number of transactions processed by the electronic trading system as well as the consumption of computational resources thereby. Furthermore, the disclosed embodiments facilitate entering into IRS transactions is a currency different from the currency of cash flows while eliminating Herstatt risk due to volatility of foreign exchange rates, which allows for increased off shore participation and thereby increased transaction volume.Type: ApplicationFiled: May 2, 2022Publication date: August 18, 2022Applicant: Chicago Mercantile Exchange Inc.Inventors: Panagiotis Xythalis, Jay Zhu, Fateen Sharaby, Dhiraj Bawadhankar, Molang Dong
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Patent number: 11379918Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap and a second remnant swap to blend the plurality of swaps using the determined fixed rates. This may reduce the gross notional and/or the total clearing line items associated with the original swaps. In some cases, the computing device may determine one single swap for blending the plurality of swaps.Type: GrantFiled: March 26, 2021Date of Patent: July 5, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Wansu Zhan, Dhiraj Bawadhankar
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Patent number: 11373238Abstract: The disclosed embodiments relate to improving the efficiency of an electronic trading system for interest rate swaps (“IRS”) by allowing for IRS contracts to be funded in a base currency while the cash flows, e.g. coupon payments, price alignment interest, variation margin, are denominated in a local currency different from the base currency. Thereby cash flows may be netted and offset minimizing the magnitude of funds needed to be moved and reducing the number of transactions processed by the electronic trading system as well as the consumption of computational resources thereby. Furthermore, the disclosed embodiments facilitate entering into IRS transactions is a currency different from the currency of cash flows while eliminating Herstatt risk due to volatility of foreign exchange rates, which allows for increased off shore participation and thereby increased transaction volume.Type: GrantFiled: July 9, 2020Date of Patent: June 28, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Panagiotis Xythalis, Jay Zhu, Fateen Sharaby, Dhiraj Bawadhankar, Molang Dong
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Publication number: 20220138851Abstract: An illustrative computing device may include a processor and a non-transitory memory device for storing a data structure capable of being compressed, where the data structure includes a plurality of data elements and each of the plurality of data elements includes a date field and a quantity field. The computing device may process instructions to arrange the plurality of data elements in a consecutive series in date order based on a value stored in the date field of each data element, determine whether a gap appears in the consecutive series of data elements based on a value stored in the quantity field of each element, remove the determined gaps in each of the data elements, and repeat the determining and removing steps until a predetermined criterion has been reached.Type: ApplicationFiled: January 12, 2022Publication date: May 5, 2022Applicant: Chicago Mercantile Exchange Inc.Inventors: Suzanne Sprague, Sean Downey, Robert Taylor, Dhiraj Bawadhankar, Stephen Hurst, Matthew Simpson, Frederick Sturm
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Publication number: 20220084125Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap for blending fixed rate components of the plurality of swaps using the fixed rate. In some cases, the computing device may determine second remnant swap for blending floating rate components of the plurality of swaps based on the first remnant swap.Type: ApplicationFiled: November 29, 2021Publication date: March 17, 2022Applicant: Chicago Mercantile Exchange Inc.Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
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Patent number: 11270377Abstract: An illustrative computing device may include a processor and a non-transitory memory device for storing a data structure capable of being compressed, where the data structure includes a plurality of data elements and each of the plurality of data elements includes a date field and a quantity field. The computing device may process instructions to arrange the plurality of data elements in a consecutive series in date order based on a value stored in the date field of each data element, determine whether a gap appears in the consecutive series of data elements based on a value stored in the quantity field of each element, remove the determined gaps in each of the data elements, and repeat the determining and removing steps until a predetermined criterion has been reached.Type: GrantFiled: October 18, 2016Date of Patent: March 8, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Suzanne Sprague, Sean Downey, Robert Taylor, Dhiraj Bawadhankar, Stephen Hurst, Matthew Simpson, Frederick Sturm
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Patent number: 11216885Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap for blending fixed rate components of the plurality of swaps using the fixed rate. In some cases, the computing device may determine second remnant swap for blending floating rate components of the plurality of swaps based on the first remnant swap.Type: GrantFiled: December 11, 2020Date of Patent: January 4, 2022Assignee: Chicago Mercantile Exchange Inc.Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
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Publication number: 20210217086Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap and a second remnant swap to blend the plurality of swaps using the determined fixed rates. This may reduce the gross notional and/or the total clearing line items associated with the original swaps. In some cases, the computing device may determine one single swap for blending the plurality of swaps.Type: ApplicationFiled: March 26, 2021Publication date: July 15, 2021Applicant: Chicago Mercantile Exchange Inc.Inventors: Wansu Zhan, Dhiraj Bawadhankar
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Patent number: 11004148Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap and a second remnant swap to blend the plurality of swaps using the determined fixed rates. This may reduce the gross notional and/or the total clearing line items associated with the original swaps. In some cases, the computing device may determine one single swap for blending the plurality of swaps.Type: GrantFiled: April 25, 2019Date of Patent: May 11, 2021Assignee: Chicago Mercantile Exchange Inc.Inventors: Wansu Zhan, Dhiraj Bawadhankar
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Publication number: 20210097620Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap for blending fixed rate components of the plurality of swaps using the fixed rate. In some cases, the computing device may determine second remnant swap for blending floating rate components of the plurality of swaps based on the first remnant swap.Type: ApplicationFiled: December 11, 2020Publication date: April 1, 2021Applicant: Chicago Mercantile Exchange Inc.Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
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Patent number: 10896467Abstract: Systems and methods for blending a plurality of swaps may include determining a fixed rate for use in blending a plurality of swaps, each of the plurality of swaps having matching economics and a different associated fixed rate. A computing device may determine a first remnant swap for blending fixed rate components of the plurality of swaps using the fixed rate. In some cases, the computing device may determine second remnant swap for blending floating rate components of the plurality of swaps based on the first remnant swap.Type: GrantFiled: April 7, 2020Date of Patent: January 19, 2021Assignee: Chicago Mercantile Exchange Inc.Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
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Publication number: 20200410597Abstract: A computer system may access data corresponding to a portfolio that comprises interest rate swaps and may calculate parameters for a compressed swap. The computer system may determine, based at least in part on the parameters for the compressed swap, a performance bond requirement attributable to the interest rate swaps. The computer system may compare the performance bond requirement to account data associated with a holder of the portfolio and may perform one or more additional actions based on the comparing.Type: ApplicationFiled: September 14, 2020Publication date: December 31, 2020Applicant: Chicago Mercantile Exchange Inc.Inventors: David Andrew Boberski, John Labuszewski, Michael O'Connell, John Wiley, Dhiraj Bawadhankar, Samantha Azzarello, Fateen Sharaby