The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 04, 2023
Filed:
Oct. 26, 2022
Chicago Mercantile Exchange Inc., Chicago, IL (US);
Paul Andrew Bauerschmidt, Chicago, IL (US);
Dmitriy Glinberg, Northbrook, IL (US);
Edward M. Gogol, Skokie, IL (US);
Stephen M. Goldman, Lake Forest, IL (US);
Paul I. Lichter, Batavia, IL (US);
Jeffrey Robert Mitchell, Porter, IN (US);
Ari L. Studnitzer, Northbrook, IL (US);
Tae Seok C. Yoo, Bartlett, IL (US);
Chicago Mercantile Exchange Inc., Chicago, IL (US);
Abstract
The disclosed systems and methods relate to allowing trading of over the counter ('OTC') foreign exchange ('FX') contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.