Patents by Inventor Steven Youngren
Steven Youngren 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: 20150262303Abstract: Stored data may define a multilaterally-traded contract type and specify final settlement of contracts conforming to the contract type by delivery of a defined quantity of a commodity. Additional data may be received, which additional data may indicate potential invocation of an alternate cash settlement mode for a plurality of contracts. Each contract of the plurality may be a contract conforming to the contract type. Further data may be received, with the further data indicating the alternate cash settlement mode is invoked for a group of contracts. The group may be all of the contracts of the plurality or a sub-portion of the plurality. Data may be transmitted to indicate cash final settlement of each contract of the group by payment of a cash settlement value instead of by delivery of the defined quantity of the commodity.Type: ApplicationFiled: May 29, 2015Publication date: September 17, 2015Inventors: John Nyhoff, Lori Aldinger, John Labuszewski, Steven Youngren
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Patent number: 9076183Abstract: Stored data may define a multilaterally-traded contract type and specify final settlement of contracts conforming to the contract type by delivery of a defined quantity of a commodity. Additional data may be received, which additional data may indicate potential invocation of an alternate cash settlement mode for a plurality of contracts. Each contract of the plurality may be a contract conforming to the contract type. Further data may be received, with the further data indicating the alternate cash settlement mode is invoked for a group of contracts. The group may be all of the contracts of the plurality or a sub-portion of the plurality. Data may be transmitted to indicate cash final settlement of each contract of the group by payment of a cash settlement value instead of by delivery of the defined quantity of the commodity.Type: GrantFiled: October 31, 2011Date of Patent: July 7, 2015Assignee: Chicago Mercantile Exchange Inc.Inventors: John Nyhoff, Lori Aldinger, John Labuszewski, Steven Youngren
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Publication number: 20130332330Abstract: Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial derivatives may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial derivative may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.Type: ApplicationFiled: August 12, 2013Publication date: December 12, 2013Inventors: Steven A. Youngren, Derek Louis Sammann, John W. Labuszewski, David Joseph Schulz, Scott A. Brusso
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Patent number: 8606687Abstract: A type of multi-laterally traded contract may designate a primary currency and a secondary currency. The primary currency may be used for settlement and/or other payment obligations in connection with instances of the contract type. Under certain conditions, however, authorization may be given for settlement and/or payment of at least some obligations using an equivalent amount of the secondary currency.Type: GrantFiled: July 21, 2011Date of Patent: December 10, 2013Assignee: Chicago Mercantile Exchange, Inc.Inventors: Richard Co, Steven Youngren, Lori Aldinger, John Labuszewski
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Patent number: 8510209Abstract: Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial derivatives may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial derivative may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.Type: GrantFiled: August 15, 2011Date of Patent: August 13, 2013Assignee: Chicago Mercantile Exchange, Inc.Inventors: Steven A. Youngren, Derek Louis Sammann, John W. Labuszewski, David Joseph Schulz, Scott A. Brusso
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Patent number: 8473402Abstract: Systems and methods that provide for a perpetual futures/derivatives contract with periodic reckoning are disclosed. An embodiment may include a method of receiving a new perpetual contract and managing that contract through to its termination. The perpetual futures contract may comprise an option to terminate the contract at recurring predetermined intervals. The exchange may allow or prohibit exercise of the option based on particular parameters.Type: GrantFiled: April 14, 2011Date of Patent: June 25, 2013Assignee: Chicago Mercantile Exchange Inc.Inventors: Steven A. Youngren, Lori Aldinger, John Nyhoff, John Labuszewski
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Publication number: 20130024340Abstract: An alternate currency futures contract or other type of derivative can be denominated in a primary currency. Margin account adjustments for mark-to-market (MTM) settlements, final settlements, and/or other cash flows associated with the contract can initially be calculated based on the primary currency, and then be converted to an alternate, secondary currency. This conversion can occur unconditionally and without requiring a prior unavailability determination.Type: ApplicationFiled: October 31, 2011Publication date: January 24, 2013Applicant: CHICAGO MERCANTILE EXCHANGE INC.Inventors: Richard Co, Steven Youngren, Kok Chong Lam, Scott Brusso, John Labuszewski
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Publication number: 20130024347Abstract: Stored data may define a multilaterally-traded contract type and specify final settlement of contracts conforming to the contract type by delivery of a defined quantity of a commodity. Additional data may be received, which additional data may indicate potential invocation of an alternate cash settlement mode for a plurality of contracts. Each contract of the plurality may be a contract conforming to the contract type. Further data may be received, with the further data indicating the alternate cash settlement mode is invoked for a group of contracts. The group may be all of the contracts of the plurality or a sub-portion of the plurality. Data may be transmitted to indicate cash final settlement of each contract of the group by payment of a cash settlement value instead of by delivery of the defined quantity of the commodity.Type: ApplicationFiled: October 31, 2011Publication date: January 24, 2013Applicant: CHICAGO MERCANTILE EXCHANGE INC.Inventors: John Nyhoff, Lori Aldinger, John Labuszewski, Steven Youngren
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Publication number: 20130024346Abstract: A type of multi-laterally traded contract may designate a primary currency and a secondary currency. The primary currency may be used for settlement and/or other payment obligations in connection with instances of the contract type. Under certain conditions, however, authorization may be given for settlement and/or payment of at least some obligations using an equivalent amount of the secondary currency.Type: ApplicationFiled: July 21, 2011Publication date: January 24, 2013Applicant: CHICAGO MERCANTILE EXCHANGE INC.Inventors: Richard Co, Steven Youngren, Lori Aldinger, John Labuszewski
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Publication number: 20130024345Abstract: In the context of multi-laterally traded contracts, a method may be invoked in the event that payments denominated in a particular currency that are required in satisfaction of the contractual obligations of the contract cannot be made. Payments may be deferred for a specified number of business days or until such time as commercially practicable. Unpaid payments due may accrue interest and/or penalties at rates as determined by a governing body.Type: ApplicationFiled: July 21, 2011Publication date: January 24, 2013Applicant: CHICAGO MERCANTILE EXCHANGE INC.Inventors: Richard Co, Steven A. Youngren, Lori Aldinger, John Labuszewski
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Publication number: 20120265663Abstract: Systems and methods that provide for a perpetual futures/derivatives contract with periodic reckoning are disclosed. An embodiment may include a method of receiving a new perpetual contract and managing that contract through to its termination. The perpetual futures contract may comprise an option to terminate the contract at recurring predetermined intervals. The exchange may allow or prohibit exercise of the option based on particular parameters.Type: ApplicationFiled: April 14, 2011Publication date: October 18, 2012Applicant: CHICAGO MERCANTILE EXCHANGE INC.Inventors: Steven A. Youngren, Lori Aldinger, John Nyhoff, John W. Labuszewski
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Publication number: 20110295737Abstract: Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial derivatives may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial derivative may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.Type: ApplicationFiled: August 15, 2011Publication date: December 1, 2011Applicant: CHICAGO MERCANTILE EXCHANGE INC.Inventors: Steven A. Youngren, Derek Louis Sammann, John W. Labuszewski, David Joseph Schulz, Scott A. Brusso
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Patent number: 8010444Abstract: Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial instruments may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial instrument may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.Type: GrantFiled: October 19, 2010Date of Patent: August 30, 2011Assignee: Chicago Mercantile Exchange, Inc.Inventors: Steven A Youngren, Derek Louis Sammann, John W. Labuszewski, David Joseph Schulz, Scott A Brusso
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Publication number: 20110040671Abstract: Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial instruments may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial instrument may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.Type: ApplicationFiled: October 19, 2010Publication date: February 17, 2011Applicant: CHICAGO MERCANTILE EXCHANGE, INC.Inventors: Steven A. Youngren, Derek Louis Sammann, John W. Labuszewski, David Joseph Schulz, Scott A. Brusso
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Patent number: 7840483Abstract: Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial derivatives may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial derivative may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.Type: GrantFiled: November 20, 2007Date of Patent: November 23, 2010Assignee: Chicago Mercantile Exchange, Inc.Inventors: Steven A Youngren, Derek Louis Sammann, John W. Labuszewski, David Joseph Schulz, Scott A Brusso
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Publication number: 20090132402Abstract: Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial derivatives may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial derivative may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.Type: ApplicationFiled: November 20, 2007Publication date: May 21, 2009Applicant: Chicago Mercantile Exchange, Inc.Inventors: Steven A. Youngren, Derek Louis Sammann, John W. Labuszewski, David Joseph Schulz, Scott A. Brusso