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:
Jun. 25, 2013
Filed:
Apr. 12, 2006
Richard Raymond May, London, GB;
Richard Raymond May, London, GB;
ICAP Services North America LLC, Jersey City, NJ (US);
Abstract
An electronic trading system and method are described in which credit risk associated with a transaction is captured as a price adjustment on a trade-by-trade basis. In one preferred embodiment, a 'request for quote' (RFQ) trading model is presented in which each dealer receiving an RFQ determines a base price as well as an additional credit risk adjustment amount by which the base price should be modified to account for credit risk. In other preferred embodiments, an exchange trading model is presented in which traders submit buy and sell orders whose prices are appropriately adjusted for presentation to each potential counterparty to account for credit risk associated with potential transactions. System designs are also presented to address the technical challenge of permitting each trading participant to apply its own credit risk algorithms and methodologies while avoiding their disclosure to other trading participants.