US Patent:
20110184847, Jul 28, 2011
Inventors:
Peter Axilrod - New York NY, US
Frank DeMaria - Allendale NJ, US
Robert Green - Tampa FL, US
Bill Hodgsou - Hertfordshire, GB
Christopher J. Henshaw - Manor NY, US
Gary Komar - Verona NJ, US
David Halliden - Hampshire, GB
Brian Turkfeld - Great Neck NY, US
Lawrence Waller - Maidenhead, GB
Jeffrey Gooch - Richmond, GB
Tim A. Smith - New York NY, US
Stewart MacBeth - London, GB
Ben MacDonald - New York NY, US
International Classification:
G06Q 40/00
G06F 17/30
US Classification:
705 37, 707822, 707E17005
Abstract:
The description generally describes systems and methods for managing derivative contracts. The system maintains derivative contract states using a set of rules to ensure subsequent post-trade events are applied in the correct order, and without jeopardizing the integrity of the underlying derivative contract. Data about derivative contracts maintained in other environments can be back-loaded into the system to allow all of a user's contracts to be contained within the system, and data associated with the back-loaded contracts can be governed in the same fashion as existing derivative contracts. Payment processing and settlement can be handled automatically by the system. If a derivative contract in the system has an uncertain state, payment processing on the derivative contract can be initiated by either trading counterparty using payment processing logic.