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: 20100312689
    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: August 18, 2010
    Publication date: December 9, 2010
    Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
  • Publication number: 20100306133
    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: August 9, 2010
    Publication date: December 2, 2010
    Applicant: CHICAGO MERCANTILE EXCHANGE, INC.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Arjuna Ariathurai, Agnes Shanthi Thiruthuvadoss, David Salvadori
  • Patent number: 7809631
    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: November 17, 2006
    Date of Patent: October 5, 2010
    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: 7805360
    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: December 29, 2006
    Date of Patent: September 28, 2010
    Assignee: Chicago Mercantile Exchange Inc.
    Inventors: Seshadri Sundaram, Stanislav Liberman, James W. Farrell, Michael S. Kenniston, Dileep C. Konduru, Mark W. Robinson
  • Patent number: 7778911
    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 17, 2010
    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: 20100205113
    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: April 21, 2010
    Publication date: August 12, 2010
    Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
  • Patent number: 7734538
    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: November 17, 2006
    Date of Patent: June 8, 2010
    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
  • Publication number: 20100121787
    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: January 15, 2010
    Publication date: May 13, 2010
    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: 7672899
    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 10, 2007
    Date of Patent: March 2, 2010
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: James W. Farrell, Agnes Shanti Thiruthuvadoss, David Salvadori, Scott Johnson, John Falck, Charlie Troxel, Arjuna Ariathurai
  • Publication number: 20090265267
    Abstract: 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: Application
    Filed: July 2, 2009
    Publication date: October 22, 2009
    Applicant: Chicago Mercantile Exchange Inc.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, JR., James W. Farrell, Shanthi Thiruthuvadoss, Arjuna Ariathurai, David Salvadori
  • Publication number: 20090234776
    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: May 8, 2009
    Publication date: September 17, 2009
    Inventors: Paul Andrew Bauerschmidt, Ari L. Studnitzer, William J. Albert, Lori Flemm, Paul J. Callaway, James W. Farrell, A. Shanthi Thiruthuvadoss
  • Patent number: 7571133
    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: July 1, 2003
    Date of Patent: August 4, 2009
    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: 7567932
    Abstract: 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: Grant
    Filed: November 3, 2006
    Date of Patent: July 28, 2009
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: David Salvadori, Arjuna Ariathurai, John Falck, James W. Farrell, Scott Johnston, Agnes S. Thiruthuvadoss, Charlie Troxel, Jr.
  • Patent number: 7440917
    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 1, 2003
    Date of Patent: October 21, 2008
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: James W. Farrell, David Salvadori, Arjuna Ariathurai, John Falck, Scott Johnston, Agnes Shanthi Thiruthuvadoss, Charlie Troxel, Jr.
  • Publication number: 20080086405
    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: December 29, 2006
    Publication date: April 10, 2008
    Applicant: Chicago Mercantile Exchange, Inc.
    Inventors: Seshadri Sundaram, Stanislav Liberman, James W. Farrell, Michael S. Kenniston
  • Patent number: 7152041
    Abstract: 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: Grant
    Filed: March 10, 2003
    Date of Patent: December 19, 2006
    Assignee: Chicago Mercantile Exchange, Inc.
    Inventors: David Salavadori, Arjuna Ariathurai, John Falck, James W. Farrell, Scott Johnston, Agnes S. Thiruthuvadoss, Charlie Troxel, Jr.
  • Publication number: 20040199450
    Abstract: 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: Application
    Filed: March 10, 2003
    Publication date: October 7, 2004
    Applicant: Chicago Mercantile Exchange, Inc.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, James W. Farrell, Shanthi Thiruthuvadoss, Arjuna Ariathurai, David Salvadori
  • Publication number: 20040199452
    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 1, 2003
    Publication date: October 7, 2004
    Applicant: Chicago Mercantile Exchange, Inc.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, James W. Farrell, Arjuna Ariathurai, Agnes Shanthi Thiruthuvadoss, David Salvadori
  • Publication number: 20040199459
    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: July 1, 2003
    Publication date: October 7, 2004
    Applicant: Chicago Mercantile Exchange, Inc.
    Inventors: Scott Johnston, John Falck, Charlie Troxel, James W. Farrell, Agnes Shanti Thiruthuvadoss, Arjuna Ariathurai, David Salvadori