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).
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Patent number: 7991684Abstract: 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: GrantFiled: December 6, 2007Date of Patent: August 2, 2011Assignee: Chicago Mercantile Exchange, Inc.Inventors: David Salvadori, Arjuna Ariathurai, John Falck, James W. Farrell, Scott Johnson, Agnes S. Thiruthuvadoss, Charlie Troxel, Jr.
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Publication number: 20110082786Abstract: 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: ApplicationFiled: December 13, 2010Publication date: April 7, 2011Applicant: CHICAGO MERCANTILE EXCHANGE, INC.Inventors: James W. Farrell, Agnes Shanthi Thiruthuvadoss, David Salvadori, Scott Johnston, John Falck, Charlie Troxel, JR., Arjuna Ariathurai
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Patent number: 7890418Abstract: 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: GrantFiled: January 15, 2010Date of Patent: February 15, 2011Assignee: Chicago Mercantile Exchange Inc.Inventors: James W. Farrell, Agnes Shanthi Thiruthuvadoss, David Salvadori, Scott Johnston, John Falck, Charlie Troxel, Jr., Arjuna Ariathurai
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Publication number: 20100318459Abstract: 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: ApplicationFiled: August 23, 2010Publication date: December 16, 2010Applicant: CHICAGO MERCANTILE EXCHANGE INC.Inventors: Seshadri Sundaram, Stanislav Liberman, James W. Farrell, Michael S. Kenniston, Dileep C. Konduru, Mark W. Robinson
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Publication number: 20100312689Abstract: 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: ApplicationFiled: August 18, 2010Publication date: December 9, 2010Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Publication number: 20100306133Abstract: 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: ApplicationFiled: August 9, 2010Publication date: December 2, 2010Applicant: CHICAGO MERCANTILE EXCHANGE, INC.Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Arjuna Ariathurai, Agnes Shanthi Thiruthuvadoss, David Salvadori
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Patent number: 7809631Abstract: 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: GrantFiled: November 17, 2006Date of Patent: October 5, 2010Assignee: 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
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Patent number: 7805360Abstract: 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: GrantFiled: December 29, 2006Date of Patent: September 28, 2010Assignee: Chicago Mercantile Exchange Inc.Inventors: Seshadri Sundaram, Stanislav Liberman, James W. Farrell, Michael S. Kenniston, Dileep C. Konduru, Mark W. Robinson
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Patent number: 7778911Abstract: 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: GrantFiled: December 6, 2007Date of Patent: August 17, 2010Assignee: Chicago Mercantile Exchange, Inc.Inventors: David Salvadori, Arjuna Ariathurai, John Falck, James W. Farrell, Scott Johnson, Agnes S. Thiruthuvadoss, Charlie Troxel, Jr.
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Publication number: 20100205113Abstract: 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: ApplicationFiled: April 21, 2010Publication date: August 12, 2010Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Patent number: 7734538Abstract: 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: GrantFiled: November 17, 2006Date of Patent: June 8, 2010Assignee: 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
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Publication number: 20100121787Abstract: 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: ApplicationFiled: January 15, 2010Publication date: May 13, 2010Applicant: Chicago Mercantile Exchange, Inc.Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Agnes Shanti Thiruthuvadoss, Arjuna Ariathurai, David Salvadori
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Patent number: 7672899Abstract: 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: GrantFiled: December 10, 2007Date of Patent: March 2, 2010Assignee: Chicago Mercantile Exchange, Inc.Inventors: James W. Farrell, Agnes Shanti Thiruthuvadoss, David Salvadori, Scott Johnson, John Falck, Charlie Troxel, Arjuna Ariathurai
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Publication number: 20090265267Abstract: Methods and systems for an exchange to handle variable derivative product order prices are disclosed. The price of a derivative product order (bid or offer) is updated based on changes in the price of a related underlying product. Price determination variable(s), such as delta and gamma, are used to determine the price of the order. The exchange may periodically recalculate the price without requiring the trader to transmit additional information to the exchange.Type: ApplicationFiled: July 2, 2009Publication date: October 22, 2009Applicant: Chicago Mercantile Exchange Inc.Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Shanthi Thiruthuvadoss, Arjuna Ariathurai, David Salvadori
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Publication number: 20090234776Abstract: 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: ApplicationFiled: May 8, 2009Publication date: September 17, 2009Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
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Patent number: 7571133Abstract: 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: GrantFiled: July 1, 2003Date of Patent: August 4, 2009Assignee: Chicago Mercantile Exchange, Inc.Inventors: James W. Farrell, Agnes Shanti Thiruthuvadoss, David Salvadori, Scott Johnson, John Falck, Charlie Troxel, Jr., Arjuna Ariathurai
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Patent number: 7567932Abstract: Methods and systems for an exchange to handle variable derivative product order prices are disclosed. The price of a derivative product order (bid or offer) is updated based on changes in the price of a related underlying product. Price determination variable(s), such as delta and gamma, are used to determine the price of the order. The exchange may periodically recalculate the price without requiring the trader to transmit additional information to the exchange.Type: GrantFiled: November 3, 2006Date of Patent: July 28, 2009Assignee: Chicago Mercantile Exchange, Inc.Inventors: David Salvadori, Arjuna Ariathurai, John Falck, James W. Farrell, Scott Johnston, Agnes S. Thiruthuvadoss, Charlie Troxel, Jr.
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Patent number: 7440917Abstract: 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: GrantFiled: October 1, 2003Date of Patent: October 21, 2008Assignee: Chicago Mercantile Exchange, Inc.Inventors: James W. Farrell, David Salvadori, Arjuna Ariathurai, John Falck, Scott Johnston, Agnes Shanthi Thiruthuvadoss, Charlie Troxel, Jr.
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Publication number: 20080086405Abstract: 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: ApplicationFiled: December 29, 2006Publication date: April 10, 2008Applicant: Chicago Mercantile Exchange, Inc.Inventors: Seshadri Sundaram, Stanislav Liberman, James W. Farrell, Michael S. Kenniston
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Patent number: 7152041Abstract: Methods and systems for an exchange to handle variable derivative product order prices are disclosed. The price of a derivative product order (bid or offer) is updated based on changes in the price of a related underlying product. Price determination variable(s), such as delta and gamma, are used to determine the price of the order. The exchange may periodically recalculate the price without requiring the trader to transmit additional information to the exchange.Type: GrantFiled: March 10, 2003Date of Patent: December 19, 2006Assignee: Chicago Mercantile Exchange, Inc.Inventors: David Salavadori, Arjuna Ariathurai, John Falck, James W. Farrell, Scott Johnston, Agnes S. Thiruthuvadoss, Charlie Troxel, Jr.