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    • 11. 发明申请
    • Method for trading securities
    • 交易证券的方法
    • US20070061241A1
    • 2007-03-15
    • US11228005
    • 2005-09-15
    • Vladan JovanovicVeselin StanicRichard LaneAdnan Beganovic
    • Vladan JovanovicVeselin StanicRichard LaneAdnan Beganovic
    • G06Q40/00
    • G06Q40/04G06Q40/06
    • A method for trading securities including options. A trader generates a variable derivative product order that identifies at least a derivative product, an underlying financial product or instrument, a pricing formula, and values of price determination variables needed by the pricing formula to establish a price for the derivative. The variable product order is transmitted electronically to an exchange. The exchange calculates the offered price of the derivative using a value of the underlying product and publishes offers to potential traders. The offered price is recalculated as the value of the underlying products changes and republished to potential traders. Trades may then be executed based on the offered prices. Hedging trades may be executed in combination with trades made based on the variable derivative product orders.
    • 交易证券的方法,包括期权。 交易者生成可变衍生产品订单,其至少识别衍生产品,基础金融产品或工具,定价公式和定价公式所需的价格确定变量的值,以确定衍生工具的价格。 可变产品订单以电子方式传送到交易所。 交易所使用潜在产品的价值计算衍生品的发行价格,并向潜在交易者发布报价。 所提供的价格将重新计算,因为底层产品的价值发生变化并重新发布给潜在交易商。 然后可以根据提供的价格执行交易。 对冲交易可以与基于可变衍生产品订单的交易结合执行。