Company Filing History:
Years Active: 2010-2013
Title: Innovations by David Joseph Schulz
Introduction
David Joseph Schulz is an accomplished inventor based in Highland Park, IL (US). He has made significant contributions to the field of financial technology, particularly in the area of over-the-counter derivatives. With a total of three patents to his name, Schulz has developed innovative techniques that enhance the efficiency and reliability of financial transactions.
Latest Patents
One of Schulz's latest patents focuses on settling over-the-counter derivatives using synthetic spot benchmark rates. This patent discloses techniques and systems for settling over-the-counter financial instruments, which include sampling over a periodic interval. A volume weighted average price of the sampled process may be calculated, and forward points can be applied to this price to determine an associated spot exchange rate. This synthetic spot FX exchange rate can then be published to subscribers. The patent also outlines methods for establishing delivery obligations according to the spot exchange rate, ensuring that transactions are executed smoothly. In cases where the number of transactions during the sampling period is below a certain threshold, a midpoint of bids and asks associated with orders for the exchange-traded financial derivative may be utilized to determine an average. Alternatively, the time-weighted average of bid and ask orders during a periodic interval may be employed in computing the volume-weighted average price.
Career Highlights
David Joseph Schulz is currently associated with the Chicago Mercantile Exchange Inc., where he applies his expertise in financial instruments. His work has been instrumental in advancing the methodologies used in the trading and settlement of derivatives.
Collaborations
Schulz has collaborated with notable colleagues such as Steven Youngren and Derek Sammann, contributing to the development of innovative financial solutions.
Conclusion
David Joseph Schulz's contributions to the field of financial technology through his patents and work at the Chicago Mercantile Exchange Inc. highlight his role as a key innovator in the industry. His advancements in settling over-the-counter derivatives demonstrate the impact of his work on improving financial transactions.