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1. WO2002023972 - CONTRACTS FOR ELECTRONIC-BASED MARKET

Note: Text based on automatic Optical Character Recognition processes. Please use the PDF version for legal matters

[ EN ]

What is claimed is:

1. A computer readable medium storing a data structure that represents a futures contract for use in an electronic futures market, the data structure comprising fields for holding:
parameters that specify a contract genus; and
parameters that specify species of the contract genus.

2. The computer readable medium of claim 1 wherein the contract genus parameters include parameters that are applicable to any contract of the genus.

3. The computer readable medium of claim 2 wherein the
parameters include delivery methods, underlying currency, price limits, position limits and margin rate.

4. The computer readable medium of claim 1 wherein the species parameters include parameters that define species of the genus .

5. The computer readable medium of claim 4' wherein species parameters include contract, month, degree, day and base city.

6. The computer readable medium of claim 4 wherein the species parameters are not required to be specified.

7. The computer readable medium of claim 4 wherein the genus parameters are required to be specified.

8. The computer readable medium of claim 4 wherein the genus parameters include genus parameters which can be overridden during a contract authoring process.

9. The computer readable medium of claim 8 wherein the global parameters that can be overridden include price limits,
speculative position limits and speculative margin rate.

10. A method of providing a contract for trading on an
electronic based futures exchange comprises:
determining a contract genus and parameters needed to fully specify a tradeable contract genus;
determining species parameters for the contract genus that can optionally be specified as species of the contract genus.

11. The method of claim 10 wherein determining further
comprises :
producing a graphical user interface window having a plurality of. controls that can be used to select the parameters for the contract genus.

12. The method of claim 10 wherein determining further
comprises :
producing a graphical user interface window having a plurality of controls that can be used to select the parameters for the contract species.

13. The method of claim 11 further comprising:
constructing a contract species by selecting one or more contract species parameters to produce a species contract including the specified species parameters.

14. The method of claim 10 wherein a species contract inherits all of the parameters of the contract genus.

15. A computer program product residing on a computer readable medium for providing a contract for trading on an electronic based futures exchange comprises instructions to cause a computer to:
determine a contract genus and parameters needed to fully specify a tradeable contract genus;
determine species parameters for the contract genus that can optionally be specified as species of the contract genus.

16. The computer program product of claim 15 wherein
instructions to determine further comprise instructions to:
produce a graphical user interface window having a plurality of controls that can be used to select the parameters for the contract genus.

17. The computer program product of claim 15 wherein
instructions to determine further comprise instructions to:
produce a graphical user interface window having a plurality of controls that can be used to select the parameters for the contract species.

18. The computer program product of claim 15 further comprising instructions to cause a computer to:
construct a contract species by selecting one or more contract species parameters to produce a species contract including the specified species parameters.

- 4!

19. The computer program of claim 15 wherein a species contract inherits all of the parameters of the contract genus.