Securities and transaction thereof
OwnerJeffrey Yass, Thomas Kennedy +2inventors
InventorsJeffrey Yass, Thomas Kennedy, Michael Traynor, Todd Silverberg
Life of this patent
Estimating the term…
Abstract
A security and its transaction are provided. In an illustrative implementation, a plurality of securities are provided that are aggregated/combined according to at least one instruction set to form a bundled instrument security. The illustrative implementation provides that, in practice, the exemplary bundled instrument security may be transacted at a bundled price. Furthermore, the implementation provides that the bundled price be derived from the price of the plurality of securities and a selected multiple value and/or security feature. The illustrative implementation further provides that options may be made available and/or transacted on the bundled instrument security.
Claims42
A system for transacting securities, comprising:
- a plurality of securities;
- and
- a securities combine aggregating the securities in at least one bundled instrument security for transaction.
A method of transacting a security comprising:
- providing a plurality of securities;
- providing at least one bundling rule for application to the plurality of securities;
- and
- aggregating the plurality of securities according to the at least one bundled rule to generate a bundled instrument security.
A system providing a security for transaction, comprising:
- a first means for applying bundling criteria comprising any of security price, market capitalization, trading volume, a listing venue of at least one of a plurality of securities, and investor interest in at least one of a plurality of securities;
- second means for bundling a plurality of single issuer, uniform typed units of the at least one security into a bundled instrument security in accordance with the bundling criteria;
- third means for selling the bundled instrument security to at least one investor at a price that is a predetermined multiple of at least one unit of the at least one security;
- and
- fourth means for redeeming the bundled instrument security from at least one investor for an expulsion of the at least one security from the bundled instrument security.
A security transaction system, comprising:
- a plurality of securities;
- and
- at least one bundled instrument security that comprises a selected multiple of at least one of the plurality of securities;
- wherein the at least one bundled instrument security is sold to, and redeemed by, investors at a bundle price selected in accordance with a price of at least one of the plurality of securities, and with the predetermined multiple.
Dependencies are inferred from the claim text.