Company Filing History:
Years Active: 2012-2014
Title: Innovations by Jonathan S Spirgel
Introduction
Jonathan S Spirgel is an accomplished inventor based in Great Neck, NY. He holds a total of six patents, showcasing his expertise in financial technology and collateral management systems. His innovative contributions have significantly impacted the way financial transactions are secured and managed.
Latest Patents
One of his latest patents is titled "System and method for managing return of collateral in a secured transaction." This invention addresses the management of custody and mitigates counterparty credit risk exposure associated with trading financial instruments. The system involves a custodian computer that receives an initial margin payment from a pledgor and electronically posts this payment in a custody account. A control agreement between the pledgor and a secured party outlines the details stored in a database, ensuring that control of the custody account is appropriately assigned based on default rules.
Another notable patent is "Systems and methods for securitizing a commodity." This method involves creating trust shares in a physical commodity that can be traded over an electronic communications network. The process includes receiving a creation order, confirming the delivery of the physical commodity into a trust account, and releasing the requested trust shares based on the amount delivered. Additionally, it outlines a method for redeeming trust shares associated with a physical commodity, ensuring a seamless transaction process.
Career Highlights
Jonathan S Spirgel is currently employed at The Bank of New York Mellon Corporation, where he applies his innovative ideas to enhance financial services. His work focuses on developing systems that improve the efficiency and security of financial transactions.
Collaborations
He collaborates with various professionals in the field, including his coworker, Laura S Melman, to drive innovation and implement effective solutions in financial technology.
Conclusion
Jonathan S Spirgel's contributions to the field of financial technology through his patents demonstrate his commitment to innovation and excellence. His work continues to influence the management of collateral in secured transactions, making significant strides in the industry.