Scott Willoughby

Title: Scott Willoughby: Innovator in Financial Derivatives

Introduction

Scott Willoughby is a notable inventor based in New York, NY, who has made significant contributions to the field of financial derivatives. With a total of two patents to his name, he has developed innovative systems that enhance the functionality and pricing of financial instruments.

Latest Patents

Willoughby's latest patents focus on "Systems and methods for extendable swap." This invention provides a system and method for creating an extendable swap, where two parties enter into an ISDA Master Agreement and negotiate various OTC derivative transaction agreements. These agreements can include interest rate swaps, cross-currency swaps, commodity swaps, equity swaps, and currency swaps. The terms negotiated include conditions precedent for the automatic extension of the swap. If the conditions are met at the end of a specified period, the agreement automatically renews for another period under the same terms, up to a final termination date. If the conditions are not met, the contract does not renew, and the agreement terminates on the relevant anniversary date. This innovative approach allows parties to offer better pricing based on period valuations and probabilities used to calculate the swap's price.

Career Highlights

Scott Willoughby is currently employed at Barclays Capital Inc., where he applies his expertise in financial derivatives. His work has contributed to the advancement of financial products that are essential in today's market.

Collaborations

Some of his notable coworkers include Kaushik Amin and Daniel Rothman, who collaborate with him on various projects within the company.

Conclusion

Scott Willoughby is a distinguished inventor whose work in financial derivatives has led to innovative solutions that improve pricing and functionality in the market. His contributions continue to influence the field significantly.