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:
Feb. 18, 2014
Filed:
Mar. 27, 2008
Gary L. Gastineau, Short Hills, NJ (US);
Todd J. Broms, New York, NY (US);
Gary L. Gastineau, Short Hills, NJ (US);
Todd J. Broms, New York, NY (US);
Navigate Fund Solutions LLC, Boston, MA (US);
Abstract
The disclosed methods, systems, and computer program products meet the exchange-traded fund accommodation needs of retirement plan investors and Record Keepers and other market participants with several processes, including using a net asset value-based secondary market trading system for ETF shares, using existing Record Keeper systems to trade, process, and hold retirement account ETF positions in the same manner used for mutual fund transactions and positions, accommodating both dollar amount and share-denominated orders, and crossing offsetting exchange-traded fund trades whenever possible. The disclosed methods, systems, and computer program products provide Record Keepers with access to an automated process managed by one or more ETF service providers that aggregate ETF buy and sell orders to effect transactions in whole and fractional ETF shares at or relative to the fund's net asset value calculated on the day of the transaction or a later day.