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1. WO1996005566 - SYSTEM AND METHOD FOR PURCHASING EXPIRATIONLESS OPTIONS

Publication Number WO/1996/005566
Publication Date 22.02.1996
International Application No. PCT/US1995/006498
International Filing Date 22.05.1995
Chapter 2 Demand Filed 28.02.1996
IPC
G06Q 30/08 2012.01
GPHYSICS
06COMPUTING; CALCULATING OR COUNTING
QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
30Commerce, e.g. shopping or e-commerce
06Buying, selling or leasing transactions
08Auctions
G06Q 90/00 2006.01
GPHYSICS
06COMPUTING; CALCULATING OR COUNTING
QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
90Systems or methods specially adapted for administrative, commercial, financial, managerial, supervisory or forecasting purposes, not involving significant data processing
CPC
G06Q 30/08
GPHYSICS
06COMPUTING; CALCULATING; COUNTING
QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
30Commerce, e.g. shopping or e-commerce
06Buying, selling or leasing transactions
08Auctions ; , matching or brokerage
G06Q 40/025
GPHYSICS
06COMPUTING; CALCULATING; COUNTING
QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
40Finance; Insurance; Tax strategies; Processing of corporate or income taxes
02Banking, e.g. interest calculation, credit approval, mortgages, home banking or on-line banking
025Credit processing or loan processing, e.g. risk analysis for mortgages
G06Q 40/04
GPHYSICS
06COMPUTING; CALCULATING; COUNTING
QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
40Finance; Insurance; Tax strategies; Processing of corporate or income taxes
04Exchange, e.g. stocks, commodities, derivatives or currency exchange
G06Q 40/08
GPHYSICS
06COMPUTING; CALCULATING; COUNTING
QDATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTING PURPOSES, NOT OTHERWISE PROVIDED FOR
40Finance; Insurance; Tax strategies; Processing of corporate or income taxes
08Insurance, e.g. risk analysis or pensions
Applicants
  • DAUGHTERY, Vergil, L., III [US/US]; US
Inventors
  • DAUGHTERY, Vergil, L., III; US
Agents
  • SAVIO, John, A., III; Troutman Sanders LLP Suite 5200 NationsBank Plaza 600 Peachtree Street, N.E. Atlanta, GA 30308-2216, US
Priority Data
08/282,71729.07.1994US
Publication Language English (EN)
Filing Language English (EN)
Designated States
Title
(EN) SYSTEM AND METHOD FOR PURCHASING EXPIRATIONLESS OPTIONS
(FR) SYSTEME ET METHODE D'ACHAT D'OPTIONS SANS ECHEANCE
Abstract
(EN)
A system and method for determining the price of an expirationless American option over a broad variety of securities and issuing the correct bid and ask prices for the same. Data concerning initial margin requirements, contract value of the option, expiration date (if applicable) of the underlying security, number of contracts required, exchange fees, commission, residuals, and all open positions is accumulated and stored in computer memory (12). When it is desired that an option be bought or sold, information identifying the contract C, the type of option, either call or put, the current price of the underlying security S, the exercise price X, the margin requirement and type, either M for a dollar amount and the unit price movement of the security U, or G for a percentage amount, is entered into the computer (14) which is actuated to calculate the price of the option.
(FR)
Système et méthode permettant de déterminer le prix d'une option américaine sans échéance par rapport à une large gamme de valeurs et d'annoncer l'offre d'achat ou l'offre de vente appropriée pour cette option. Les données concernant le dépôt de garantie, la valeur contractuelle de l'option, la date d'expiration (le cas échéant) de la valeur susceptible d'être achetée ou vendue, le nombre de contrats, les redevances sur les opérations de change, les tarifs de courtage, les dépenses résiduelles et toutes les autres positions sont stockées dans une mémoire informatique (12). Lorsque l'on souhaite qu'une option soit achetée ou vendue, on introduit dans l'ordinateur (14) les données identifiant le contrat C, le type d'option, les indications d'enchère ou d'attente, le prix courant de la valeur S susceptible d'être achetée ou vendue, le prix de levée X, l'exigence de couverture et le type de couverture, soit M pour un montant en dollars et le mouvement du prix unitaire de la valeur U, soit G pour un pourcentage, après quoi l'ordinateur effectue le calcul du prix de l'option.
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