Timothy Francis McCourt

Title: The Innovative Contributions of Timothy Francis McCourt

Introduction

Timothy Francis McCourt is a notable inventor based in New York, NY (US). He has made significant contributions to the field of financial technology, particularly in the area of processing withholding payments. With a total of four patents to his name, McCourt's work has had a considerable impact on the efficiency of financial transactions.

Latest Patents

One of McCourt's latest patents is a system for processing withholding payments. This innovative system provides methods for efficiently handling 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. Additionally, 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

Timothy McCourt is currently associated with the Chicago Mercantile Exchange Inc., where he applies his expertise in financial systems. His role at this prominent institution allows him to further develop and implement innovative solutions in the financial sector.

Collaborations

Some of McCourt's notable coworkers include Richard Co and Thomas Patrick Rafferty. Their collaboration contributes to a dynamic work environment that fosters innovation and creativity.

Conclusion

Timothy Francis McCourt's contributions to financial technology through his patents and work at the Chicago Mercantile Exchange Inc. highlight his role as a significant inventor in the industry. His innovative systems continue to enhance the efficiency of financial transactions.