Jeffrey J Mitchell

US Patent:

20070118459, May 24, 2007

Filed:

Oct 31, 2006

Appl. No.:

11/590540

Inventors:

Paul Bauerschmidt - Chicago IL, US
Dmitriy Glinberg - Northbrook IL, US
Edward Gogol - Skokie IL, US
Stephen Goldman - Lake Forest IL, US
Paul Lichter - Batavia IL, US
Jeffrey Mitchell - Porter IN, US
Ari Studnitzer - Chicago IL, US
Tae Seok Yoo - Bartlett IL, US

International Classification:

G06Q 40/00

US Classification:

705037000, 705035000

Abstract:

The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.