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AssigneesSri, Inc. Prisma & Company, Inc., Cayuga Derivatives, Inc.
InventorsDouglas T. Chorna, Srikanth Sankaran
Estimating the term…
An exchange-traded financial instrument having a price that tracks an underlying benchmark, the underlying benchmark being a security or commodity that is itself traded. A contract for the financial instrument between a buyer and seller is not contingent upon the delivery of the underlying benchmark. A net carrying charge (credit or debit), defined as the difference between the investment yield of the underlying benchmark and a cost of financing ownership of the underlying benchmark using the generally accepted industry standard financing rate for that benchmark, is credited or debited, accrued, or built into the price of the derivative for both buyer and seller of the financial instrument, typically nightly. In one embodiment, the underlying benchmark is a U.S. Treasury security, and preferably a specific U.S. Treasury security such as the on the run (OTR) 10 Year Treasury note. Other single contract spread and ratio instruments are also disclosed.
A financial instrument tradable between a buyer and a seller comprising:
An option on a financial instrument tradable between a buyer and a seller, the financial instrument comprising:
A method of trading an option on a financial instrument between a buyer and a seller on at least one of a commodities exchange, securities exchange, electronic communication network (ECN), alternative trading system (ATS), and an organization approved by the United States Government for clearing financial instruments, the method comprising:
A financial instrument tradable between a buyer and a seller comprising:
Dependencies are inferred from the claim text.