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:
Sep. 11, 2012
Filed:
Sep. 29, 2006
Richard CO, Chicago, IL (US);
John Labuszewski, Westmont, IL (US);
Paul Peterson, Elgin, IL (US);
John Nyhoff, Darien, IL (US);
Sayee Srinivasan, Elmhurst, IL (US);
Richard Co, Chicago, IL (US);
John Labuszewski, Westmont, IL (US);
Paul Peterson, Elgin, IL (US);
John Nyhoff, Darien, IL (US);
Sayee Srinivasan, Elmhurst, IL (US);
Chicago Mercantile Exchange, Inc., Chicago, IL (US);
Abstract
Systems and methods are described for processing and clearing derivatives products with a binary outcome and having a final settlement based on a triggering event. A computer system configured to process and clear derivative products can accept initial and adjusted performance bonds from buyers and sellers, and adjust the market price of the derivative product at intervals. The market price may be adjusted on a mark-to-market basis and through analysis of other information, e.g., the credit rating of a reference entity. As a result of price adjustments, cash flow may be generated between buyers and sellers. The derivative product may pay a predetermined final settlement amount or percentage upon the triggering of a predetermined event. However, upon expiration of the derivative product, the derivative's market price is settled to zero and the agreement is terminated.