Patents by Inventor Laura S. Melman
Laura S. Melman 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: 20210398214Abstract: A method for creating trust shares in a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a creation order comprising a request to create the trust shares, confirming delivery into a trust account of an amount of physical commodity associated with the trust shares being requested, and releasing the requested trust shares based upon the amount of physical commodity delivered into the account. A method for redeeming trust shares associated with a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a redemption order comprising a request to redeem an amount of trust shares associated with an amount of the physical commodity held in a trust account, receiving the amount of the trust shares, and releasing from the trust account the amount of the physical commodity associated with the amount of the trust shares received.Type: ApplicationFiled: August 27, 2021Publication date: December 23, 2021Inventors: Jonathan S. SPIRGEL, Laura S. MELMAN
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Publication number: 20210217087Abstract: A method for creating trust shares in a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a creation order comprising a request to create the trust shares, confirming delivery into a trust account of an amount of physical commodity associated with the trust shares being requested, and releasing the requested trust shares based upon the amount of physical commodity delivered into the account. A method for redeeming trust shares associated with a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a redemption order comprising a request to redeem an amount of trust shares associated with an amount of the physical commodity held in a trust account, receiving the amount of the trust shares, and releasing from the trust account the amount of the physical commodity associated with the amount of the trust shares received.Type: ApplicationFiled: March 26, 2021Publication date: July 15, 2021Inventors: Jonathan S. SPIRGEL, Laura S. MELMAN
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Publication number: 20190347735Abstract: In certain embodiments, generation and use of multi-value-type instrument for an exchange may be facilitated. In some embodiments, two or more first currencies may be determined. A second currency with which the exchange operates may be determined. An instrument tradeable on the exchange may be generated such that (i) an asset value of the instrument is denominated in the two or more first currencies, (ii) a trading value of the instrument is denominated in the second currency, and (iii) the trading value fluctuates in response to changes in values of the two or more first currencies. The instrument may be provided the instrument through the exchange via an electronic data network.Type: ApplicationFiled: July 23, 2019Publication date: November 14, 2019Inventors: Jonathan S. SPIRGEL, Laura S. MELMAN
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Publication number: 20140052602Abstract: A method for creating trust shares in a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a creation order comprising a request to create the trust shares, confirming delivery into a trust account of an amount of physical commodity associated with the trust shares being requested, and releasing the requested trust shares based upon the amount of physical commodity delivered into the account. A method for redeeming trust shares associated with a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a redemption order comprising a request to redeem an amount of trust shares associated with an amount of the physical commodity held in a trust account, receiving the amount of the trust shares, and releasing from the trust account the amount of the physical commodity associated with the amount of the trust shares received.Type: ApplicationFiled: October 21, 2013Publication date: February 20, 2014Applicant: THE BANK OF NEW YORK MELLONInventors: Jonathan S. SPIRGEL, Laura S. MELMAN
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Patent number: 8595109Abstract: A method for creating trust shares in a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a creation order comprising a request to create the trust shares, confirming delivery into a trust account of an amount of physical commodity associated with the trust shares being requested, and releasing the requested trust shares based upon the amount of physical commodity delivered into the account. A method for redeeming trust shares associated with a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a redemption order comprising a request to redeem an amount of trust shares associated with an amount of the physical commodity held in a trust account, receiving the amount of the trust shares, and releasing from the trust account the amount of the physical commodity associated with the amount of the trust shares received.Type: GrantFiled: November 20, 2012Date of Patent: November 26, 2013Assignee: The Bank of New York MellonInventors: Jonathan S. Spirgel, Laura S. Melman
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Patent number: 8332292Abstract: Systems and methods for providing a tradable (e.g., exchange-listed) instrument by securitizing foreign currency using a foreign currency trust or other special-purpose vehicle that is established to hold one or more particular foreign currency and to issue foreign currency trust shares and/or receipts corresponding to the value of the foreign currency(s) held by the Trust. The foreign currency trust shares may represent a proportional interest in the Trust and/or the foreign currency held by the trust. The Trust may include one or more Trust accounts to receive and store the foreign currency deposited with the Trust. The Trust can operate to receive an investment amount in a first currency and provide shares or Trust receipts having a value in a second currency. The shares or receipts of the trust can be listed, quoted, and traded on a trading system.Type: GrantFiled: September 28, 2005Date of Patent: December 11, 2012Assignee: The Bank of New York Mellon CorporationInventors: Jonathan S Spirgel, Laura S Melman
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Patent number: 8326720Abstract: A system and method for providing a tradable (e.g., exchange-listed) instrument by securitizing a commodity using a commodity trust or other special-purpose vehicle that is established to hold one or more physical commodities and to issue commodity trust shares and/or receipts corresponding to the value of the physical commodity held by the Trust. The commodity trust shares may represent a proportional interest in the Trust and/or the physical commodity held by the trust, e.g., precious metals such as gold, or base metals such as copper. The Trust may include one or more Trust accounts to receive and store the physical commodity deposited with the Trust. The shares or receipts of the trust can be listed, quoted, and traded on a trading system, e.g., an Electronics Communication Network (ECN), and may be traded as Exchange Traded Fund (ETF) shares on a securities exchange.Type: GrantFiled: August 4, 2011Date of Patent: December 4, 2012Assignee: The Bank of New York MellonInventors: Jonathan S. Spirgel, Laura S. Melman
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Patent number: 8234190Abstract: A commodity trust is provided by a Trustee for a particular commodity. Commodity shares are backed by the Trustee's custody of the actual commodity. For example, commodity shares are created and issued when a trust participant deposits an amount of the commodity with the Trustee or a custodian acting on behalf of the Trustee. After confirmation of the receipt of the commodity, an amount of commodity shares is issued by the Trustee, which is equal in value to the value of the commodity.Type: GrantFiled: October 6, 2003Date of Patent: July 31, 2012Assignee: The Bank of New York MellonInventors: Jonathan S. Spirgel, Laura S. Melman
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Publication number: 20120011049Abstract: A system and method for providing a tradable (e.g., exchange-listed) instrument by securitizing a commodity using a commodity trust or other special-purpose vehicle that is established to hold one or more physical commodities and to issue commodity trust shares and/or receipts corresponding to the value of the physical commodity held by the Trust. The commodity trust shares may represent a proportional interest in the Trust and/or the physical commodity held by the trust, e.g., precious metals such as gold, or base metals such as copper. The Trust may include one or more Trust accounts to receive and store the physical commodity deposited with the Trust. The shares or receipts of the trust can be listed, quoted, and traded on a trading system, e.g., an Electronics Communication Network (ECN), and may be traded as Exchange Traded Fund (ETF) shares on a securities exchange.Type: ApplicationFiled: August 4, 2011Publication date: January 12, 2012Applicant: THE BANK OF NEW YORK MELLON CORPORATIONInventors: Jonathan S. SPIRGEL, Laura S. MELMAN