Repo etf system, and method

A data processing system for trading shares of an exchange-traded fund, the exchange-traded fund being a counterparty to one or more repurchasing parties in one or more repurchase agreements, the system comprising:

• one or more processors coupled to a network connection and a memory containing a database therein,
• wherein the processors are configured to:
• aggregate investments represented by order data from one or more investors into shares of the exchange-traded fund;
• match investments in the exchange-traded fund with repurchase agreement instructions associated with the one or more repurchasing parties to establish associated ones of the one or more repurchase agreements;
• receive securities data from the one or more repurchasing parties, and allocate one or more securities represented by the received securities data as collateral applied to an account of the exchange-traded fund;
• send payment for the one or more securities used as collateral to the one or more repurchasing parties in exchange for the securities used as collateral, the payment being represented by securities payment data;
• responsive to termination of one or more of the repurchase agreements, receive repurchase payment data from associated ones of the one or more repurchasing parties to repurchase the one or more securities used as collateral, and send the securities data to the associated one or more repurchasing parties, the securities data relating to the one or more securities used as collateral.

A data processing system for managing tri-party repurchase agreement exchange-traded fund transactions, the system comprising:

• one or more processors coupled to a network connection and a memory containing a database therein configured to at least store investor custody account data and repurchase agreement data including repurchase agreement-related collateral data therein,
• wherein the one or more processors are configured to:
• receive a customer order from a customer for a trade of a repurchase agreement exchange-traded fund share;
• issue a cash order trade instruction to a repurchase agreement provider;
• match repurchase agreement instructions received from the repurchase agreement provider with repurchase agreement instructions received from a repurchase agreement counterparty;
• receive securities data from the repurchase agreement counterparty and allocate one or more securities relating to the received securities data as collateral applied to an account of the exchange-traded fund;
• responsive to receiving the securities data, send payment for the one or more securities to the repurchase agreement counterparty, the payment being represented by securities payment data;
• electronically book trades executed by the repurchase agreement provider;
• and
• provide, via the network connection, updated holdings, prices, and net asset value data to an indicative optimized portfolio value agent.

A computer-implemented method of trading shares of an exchange traded fund with a majority of assets being interests in one or more repurchasing agreements, wherein the method is implemented in a computer system comprising one or more processors configured to execute one or more computer program modules, the method comprising;

• obtaining, on electronic storage media accessible to the one or more processors order data associated with the shares;
• executing, on the one or more processors of the computer system, one or more computer program modules configured to transfer the shares of the exchange traded fund in response to the order data;
• and
• displaying, on an electronic display communicatively linked with the one or more processors of the computer system, information associated with the transfer.