Company Filing History:
Years Active: 2016
Title: Mike Kamradt: Innovator in Financial Technology
Introduction
Mike Kamradt is a notable inventor based in Chicago, IL, who has made significant contributions to the field of financial technology. With a total of four patents to his name, Kamradt has developed innovative systems that enhance the efficiency of financial transactions.
Latest Patents
One of Kamradt's latest patents is titled "Facilitation of payments between counterparties by a central counterparty." This invention outlines a system for moving money between accounts of traders through a central counterparty, facilitating payments and the movement of funds. The system provides a flexible mechanism that supports simpler accounting, new types of derivatives contracts, and new types of fees. The disclosed futures contract, referred to as a 'payer' contract, is a 'no-uncertainty' futures contract where the initial and settlement value parameters are defined. This innovation leverages the mechanisms of the clearing system to accommodate related payments, establishing a 1-to-many relationship between contracts and prices. Each price component may be assigned its own payer contract, which guarantees the movement of money from related positions. In one embodiment, payer contracts are dynamically created whenever a payment is needed.
Career Highlights
Mike Kamradt is currently employed at the Chicago Mercantile Exchange Inc., where he applies his expertise in financial systems and innovations. His work has been instrumental in advancing the mechanisms of financial transactions and improving the overall efficiency of trading processes.
Collaborations
Kamradt has collaborated with notable colleagues, including John Labuszewski and John Nyhoff, who share his commitment to innovation in the financial sector.
Conclusion
Mike Kamradt is a distinguished inventor whose work in financial technology continues to shape the industry. His innovative patents and contributions to the Chicago Mercantile Exchange Inc. highlight his role as a key player in advancing financial systems.