Patents by Inventor James W. Farrell

James W. Farrell 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: 20130232051
    Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.
    Type: Application
    Filed: March 18, 2013
    Publication date: September 5, 2013
    Applicant: Chicago Mercantile Exchange
    Inventors: Paul A. Bauerschmidt, Ari L. Studnitzer, William J. Albert, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
  • Publication number: 20130198054
    Abstract: The disclosure describes systems and methods for using enhanced RFQs and incoming enhanced orders to assist in detecting implied orders using an implied spread determination module. In one example, a system includes a processor and memory storing a search list and computer-executable instructions, where the instructions determine whether the financial instrument associated with an eRFQ or new enhanced order is on the search list, and then determine if an implied order exists in combination with that financial instrument and CCP attribute designations. In some embodiments, a timer may be used to track a predetermined amount of time to spend towards determining if implied orders exist for a particular financial instrument at particular clearing houses.
    Type: Application
    Filed: August 1, 2012
    Publication date: August 1, 2013
    Applicant: CHICAGO MERCANTILE EXCHANGE INC.
    Inventors: Ari Studnitzer, Pearce Peck-Walden, James W. Farrell, Paul J. Callaway, Barry L. Galster
  • Patent number: 8447683
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Grant
    Filed: June 1, 2012
    Date of Patent: May 21, 2013
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: James W Farrell, Agnes Shanti Thiruthuvadoss, Scott Johnston, John Falck, Charlie Troxel, Jr., Arjuna Ariathurai, David Salvadori
  • Patent number: 8401955
    Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.
    Type: Grant
    Filed: August 18, 2010
    Date of Patent: March 19, 2013
    Assignee: Chicago Mercantile Exchange
    Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss, Lori Flemm
  • Publication number: 20130041801
    Abstract: An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and/or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.
    Type: Application
    Filed: June 27, 2012
    Publication date: February 14, 2013
    Inventors: Brian M. Wolf, John F. Curran, James W. Farrell, Paul J. Callaway, Barry L. Galster, Andrew Milne, Giuseppe Scimeca, Pearce Peck-Walden, James Wilcox
  • Patent number: 8374942
    Abstract: Systems and methods are provided for processing derivative product orders at an exchange. Traders provide derivative product order risk data to the exchange. The order risk data may include maximum delta, gamma and/or vega utilization values for derivative product contracts based on the same underlying product. Before executing a trade, a match system analyzes the trader's current utilization state and the utilization that would result after the trade. The match system may then execute all or a portion of the trade.
    Type: Grant
    Filed: October 26, 2011
    Date of Patent: February 12, 2013
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, Jr., James W. Farrell, Arjuna Ariathurai, Agnes S. Thiruthuvadoss, David Salvadori
  • Patent number: 8374947
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Grant
    Filed: October 31, 2007
    Date of Patent: February 12, 2013
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: James W. Farrell, Agnes Shanti Thiruthuvadoss, David Salvadori, Scott Johnson, John Falck, Charlie Troxel, Jr., Arjuna Ariathurai
  • Patent number: 8332306
    Abstract: Systems and methods for matching orders are provided. One or more trade templates are created. The trade templates define groups of orders for financial instruments that may be combined such that all of the orders are matched. New orders and resting orders are analyzed using one or more trade templates to determine whether a combination of orders satisfies all of the elements of a trade template. When all of the elements of a trade template are satisfied, the corresponding orders may be matched contemporaneously.
    Type: Grant
    Filed: August 23, 2010
    Date of Patent: December 11, 2012
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Seshadri Sundaram, Stanislav Liberman, James W. Farrell, Michael S. Kenniston, Dileep C. Konduru, Mark W. Robinson
  • Publication number: 20120239548
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Application
    Filed: June 1, 2012
    Publication date: September 20, 2012
    Applicant: CHICAGO MERCANTILE EXCHANGE INC.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Agnes Shanti Thiruthuvadoss, Arjuna Ariathurai, David Salvadori
  • Patent number: 8224737
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Grant
    Filed: September 30, 2011
    Date of Patent: July 17, 2012
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: James W. Farrell, Agnes Shanthi Thiruthuvadoss, David Salvadori, Scott Johnston, John Falck, Charlie Troxel, Jr., Arjuna Ariathurai
  • Patent number: 8160949
    Abstract: Systems and methods are provided for processing derivative product orders at an exchange. Traders provide derivative product order risk data to the exchange. The order risk data may include maximum delta, gamma and/or vega utilization values for derivative product contracts based on the same underlying product. Before executing a trade, a match system analyzes the trader's current utilization state and the utilization that would result after the trade. The match system may then execute all or a portion of the trade.
    Type: Grant
    Filed: August 9, 2010
    Date of Patent: April 17, 2012
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, Jr., James W. Farrell, Arjuna Ariathurai, Agnes S. Thiruthuvadoss, David Salvadori
  • Publication number: 20120084195
    Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.
    Type: Application
    Filed: December 13, 2011
    Publication date: April 5, 2012
    Inventors: Paul Andrew Bauerschmidt, Ari L. Studnizer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
  • Publication number: 20120041896
    Abstract: Systems and methods are provided for processing derivative product orders at an exchange. Traders provide derivative product order risk data to the exchange. The order risk data may include maximum delta, gamma and/or vega utilization values for derivative product contracts based on the same underlying product. Before executing a trade, a match system analyzes the trader's current utilization state and the utilization that would result after the trade. The match system may then execute all or a portion of the trade.
    Type: Application
    Filed: October 26, 2011
    Publication date: February 16, 2012
    Applicant: Chicago Mercantile Exchange, Inc.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Arjuna Ariathurai, Agnes Shanthi Thiruthuvadoss, David Salvadori
  • Publication number: 20120030090
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Application
    Filed: September 30, 2011
    Publication date: February 2, 2012
    Applicant: CHICAGO MERCANTILE EXCHANGE INC.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Agnes Shanti Thiruthuvadoss, Arjuna Ariathurai, David Salvadori
  • Patent number: 8086527
    Abstract: The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.
    Type: Grant
    Filed: May 8, 2009
    Date of Patent: December 27, 2011
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, legal representative, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
  • Patent number: 8060431
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Grant
    Filed: December 13, 2010
    Date of Patent: November 15, 2011
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: James W. Farrell, Agnes Shanthi Thiruthuvadoss, David Salvadori, Scott Johnston, John Falck, Charlie Troxel, Jr., Arjuna Ariathurai
  • Patent number: 7991684
    Abstract: Systems and methods are provided for processing derivative product orders at an exchange. Traders provide derivative product order risk data to the exchange. The order risk data may include maximum delta, gamma and/or vega utilization values for derivative product contracts based on the same underlying product. Before executing a trade, a match system analyzes the trader's current utilization state and the utilization that would result after the trade. The match system may then execute all or a portion of the trade.
    Type: Grant
    Filed: December 6, 2007
    Date of Patent: August 2, 2011
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: David Salvadori, Arjuna Ariathurai, John Falck, James W. Farrell, Scott Johnson, Agnes S. Thiruthuvadoss, Charlie Troxel, Jr.
  • Publication number: 20110082786
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Application
    Filed: December 13, 2010
    Publication date: April 7, 2011
    Applicant: CHICAGO MERCANTILE EXCHANGE, INC.
    Inventors: James W. Farrell, Agnes Shanthi Thiruthuvadoss, David Salvadori, Scott Johnston, John Falck, Charlie Troxel, JR., Arjuna Ariathurai
  • Patent number: 7890418
    Abstract: Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.
    Type: Grant
    Filed: January 15, 2010
    Date of Patent: February 15, 2011
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: James W. Farrell, Agnes Shanthi Thiruthuvadoss, David Salvadori, Scott Johnston, John Falck, Charlie Troxel, Jr., Arjuna Ariathurai
  • Publication number: 20100318459
    Abstract: Systems and methods for matching orders are provided. One or more trade templates are created. The trade templates define groups of orders for financial instruments that may be combined such that all of the orders are matched. New orders and resting orders are analyzed using one or more trade templates to determine whether a combination of orders satisfies all of the elements of a trade template. When all of the elements of a trade template are satisfied, the corresponding orders may be matched contemporaneously.
    Type: Application
    Filed: August 23, 2010
    Publication date: December 16, 2010
    Applicant: CHICAGO MERCANTILE EXCHANGE INC.
    Inventors: Seshadri Sundaram, Stanislav Liberman, James W. Farrell, Michael S. Kenniston, Dileep C. Konduru, Mark W. Robinson