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).

  • Publication number: 20200356990
    Abstract: 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: Application
    Filed: July 27, 2020
    Publication date: November 12, 2020
    Applicant: Chicago Mercantile Exchange Inc.
    Inventors: Simon Burnham, Dhiraj Bawadhankar, Steve Dayon, John Redfield, Fateen Sharaby
  • Publication number: 20200342534
    Abstract: 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: Application
    Filed: July 9, 2020
    Publication date: October 29, 2020
    Applicant: Chicago Mercantile Exchange Inc.
    Inventors: Panagiotis Xythalis, Jay Zhu, Fateen Sharaby, Dhiraj Bawadhankar, Molang Dong
  • Patent number: 10810671
    Abstract: 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: Grant
    Filed: June 25, 2015
    Date of Patent: October 20, 2020
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: David Andrew Boberski, John Labuszewski, Michael O'Connell, John Wiley, Dhiraj Bawadhankar, Samantha Azzarello, Fateen Sharaby
  • Patent number: 10789588
    Abstract: 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: Grant
    Filed: October 30, 2015
    Date of Patent: September 29, 2020
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Simon Burnham, Dhiraj Bawadhankar, Steve Dayon, John Redfield, Fateen Sharaby
  • Patent number: 10748212
    Abstract: 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: Grant
    Filed: October 15, 2018
    Date of Patent: August 18, 2020
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Panagiotis Xythalis, Jay Zhu, Fateen Sharaby, Dhiraj Bawadhankar, Molang Dong
  • Publication number: 20200234374
    Abstract: 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: Application
    Filed: April 7, 2020
    Publication date: July 23, 2020
    Applicant: Chicago Mercantile Exchange Inc.
    Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
  • Patent number: 10650457
    Abstract: 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: Grant
    Filed: August 5, 2019
    Date of Patent: May 12, 2020
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
  • Publication number: 20200065904
    Abstract: Systems and methods are provided for a clearing framework for clearing a non-deliverable interest rate swap. The clearing framework includes an application programming interface (API) including functions for processing trade messages including information used by a clearing house computing system in clearing non-deliverable interest rate swaps; one or more user interface screens comprising information corresponding to one or more non-deliverable interest rate swaps and one or more user interface screens comprising information of cleared interest rate swaps, one an API for reporting clearing information, wherein the one or more functions comprise a first messaging function to confirm clearing of the one or more non-deliverable interest rate swaps and a second messaging function to request consent to clear the one or more non-deliverable interest rate swaps.
    Type: Application
    Filed: October 29, 2019
    Publication date: February 27, 2020
    Applicant: Chicago Mercantile Exchange Inc.
    Inventors: Dhiraj Bawadhankar, Panagiotis Xythalis, Jingbin Yin, Molang Dong, Fateen Sharaby, Romil Parekh, Jalpan Shah
  • Patent number: 10572939
    Abstract: Systems and methods are provided for a clearing framework for clearing a non-deliverable interest rate swap. The clearing framework includes an application programming interface (API) including functions for processing trade messages including information used by a clearing house computing system in clearing non-deliverable interest rate swaps; one or more user interface screens comprising information corresponding to one or more non-deliverable interest rate swaps and one or more user interface screens comprising information of cleared interest rate swaps, one an API for reporting clearing information, wherein the one or more functions comprise a first messaging function to confirm clearing of the one or more non-deliverable interest rate swaps and a second messaging function to request consent to clear the one or more non-deliverable interest rate swaps.
    Type: Grant
    Filed: August 29, 2016
    Date of Patent: February 25, 2020
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Dhiraj Bawadhankar, Panagiotis Xythalis, Jingbin Yin, Molang Dong, Fateen Sharaby, Romil Parekh, Jalpan Shah
  • Publication number: 20190370903
    Abstract: 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: Application
    Filed: August 5, 2019
    Publication date: December 5, 2019
    Applicant: Chicago Mercantile Exchange Inc.
    Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
  • Patent number: 10475123
    Abstract: 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: Grant
    Filed: July 22, 2014
    Date of Patent: November 12, 2019
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan
  • Publication number: 20190251634
    Abstract: 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: Application
    Filed: April 25, 2019
    Publication date: August 15, 2019
    Applicant: Chicago Mercantile Exchange Inc.
    Inventors: Wansu Zhan, Dhiraj Bawadhankar
  • Patent number: 10319032
    Abstract: 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: Grant
    Filed: July 22, 2014
    Date of Patent: June 11, 2019
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Wansu Zhan, Dhiraj Bawadhankar
  • Publication number: 20190080410
    Abstract: 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: Application
    Filed: October 15, 2018
    Publication date: March 14, 2019
    Inventors: Panagiotis Xythalis, Jay Zhu, Fateen Sharaby, Dhiraj Bawadhankar, Molang Dong
  • Patent number: 10140659
    Abstract: 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: Grant
    Filed: October 7, 2015
    Date of Patent: November 27, 2018
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Panagiotis Xythalis, Jay Zhu, Fateen Sharaby, Dhiraj Bawadhankar, Molang Dong
  • Publication number: 20160140657
    Abstract: 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: Application
    Filed: October 7, 2015
    Publication date: May 19, 2016
    Inventors: Panagiotis Xythalis, Jay Zhu, Fateen Sharaby, Dhiraj Bawadhankar, Molang Dong
  • Publication number: 20160125399
    Abstract: 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: Application
    Filed: October 30, 2015
    Publication date: May 5, 2016
    Inventors: Simon Burnham, Dhiraj Bawadhankar
  • Publication number: 20150379643
    Abstract: 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: Application
    Filed: June 25, 2015
    Publication date: December 31, 2015
    Inventors: David Andrew Boberski, John Labuszewski, Michael O'Connell, John Wiley, Dhiraj Bawadhankar, Samantha Azzarello, Fateen Sharaby
  • Publication number: 20150324914
    Abstract: 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: Application
    Filed: July 22, 2014
    Publication date: November 12, 2015
    Inventors: Wansu Zhan, Dhiraj Bawadhankar
  • Publication number: 20150262305
    Abstract: 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: Application
    Filed: July 22, 2014
    Publication date: September 17, 2015
    Inventors: Dhiraj Bawadhankar, Fateen Sharaby, Steve Dayon, Jack Callahan