Company Filing History:
Years Active: 2010-2014
Title: The Innovative Mind of Derek Sammann
Introduction
Derek Sammann is a notable inventor based in Glencoe, Illinois. He has made significant contributions to the field of finance and currency systems, holding a total of five patents. His work focuses on methods and systems that enhance the calculation of values for indexes based on breakout currencies.
Latest Patents
One of Derek's latest patents is titled "Prospective Currency Units." This invention provides methods and systems for calculating values for indexes based on breakout currencies. A prospective breakout index can be formed before an entity breaks out of a monetary union. The invention also relates to calculating an initial index value on a breakout date, where the initial exchange rate of the breakout currency may be combined with a breakout value and/or a base value. In certain embodiments, the initial index value of the breakout index may equal the base value. Additionally, the patent discusses calculating a second index value using a second exchange rate of the breakout currency.
Another significant patent is "Settling Over-the-Counter Derivatives Using Synthetic Spot Benchmark Rates." This invention includes techniques and systems for settling over-the-counter financial instruments by sampling over a periodic interval. A volume-weighted average price of the sampled process is calculated, and forward points are applied to determine an associated spot exchange rate. This synthetic spot FX exchange rate can be published to subscribers, establishing delivery obligations for over-the-counter financial derivatives.
Career Highlights
Derek Sammann is currently employed at the Chicago Mercantile Exchange Inc., where he applies his innovative ideas to the financial sector. His work has been instrumental in developing systems that improve the efficiency and accuracy of financial transactions.
Collaborations
Derek collaborates with talented individuals such as John Labuszewski and Steven Youngren. Their combined expertise contributes to the advancement of financial technologies and systems.
Conclusion
Derek Sammann is a prominent inventor whose work in financial systems and currency calculations has made a significant impact. His innovative patents reflect his dedication to enhancing the efficiency of financial transactions.