Thomas Patrick Rafferty

Title: The Innovations of Thomas Patrick Rafferty

Introduction

Thomas Patrick Rafferty is a notable inventor based in Chicago, IL, with a significant contribution to the field of financial technology. He holds a total of six patents, showcasing his innovative approach to solving complex problems in the financial sector. His work primarily focuses on systems and methods for processing withholding payments, which are crucial for efficient financial transactions.

Latest Patents

Rafferty's latest patent is titled "System for processing withholding payments." This invention provides systems and methods for efficiently processing withholding payments for constructive dividends. A party that receives constructive dividend payments also has a corresponding short position in a withholding financial instrument. The clearing house computer system adjusts the value of a withholding financial instrument in response to the receipt of constructive dividend payments. Furthermore, the system determines a variation margin amount for the short party and processes a variation margin payment from the short party to a withholding account through the variation margin settlement system.

Career Highlights

Throughout his career, Rafferty has worked with prominent organizations, including the Chicago Mercantile Exchange Inc. His experience in these institutions has allowed him to develop and refine his innovative ideas, contributing to advancements in financial processing systems.

Collaborations

Some of Rafferty's notable coworkers include Richard Co and Timothy Francis McCourt. Their collaboration has likely played a role in the development of his innovative solutions.

Conclusion

Thomas Patrick Rafferty's contributions to the field of financial technology through his patents demonstrate his commitment to innovation and efficiency. His work continues to influence the way financial transactions are processed, making a significant impact in the industry.