Kaushik B Amin

US Patent:

8090638, Jan 3, 2012

Filed:

Oct 1, 2008

Appl. No.:

12/243724

Inventors:

Kaushik Amin - New York NY, US
Scott Willoughby - New York NY, US
Daniel J. Rothman - New York NY, US

Assignee:

Barclays Capital Inc. - New York NY

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 37

Abstract:

A system and method for providing an extendable swap is provided. In a preferred embodiment, two parties enter into an ISDA Master Agreement and then negotiate one or more OTC derivative transaction agreements, including interest rate swaps, cross-currency swaps, commodity swaps, equity swaps and/or currency swaps. The parties negotiate terms including conditions precedent to the automatic extension of the extendable swap. Where the condition(s) precedent are met at the end of a period, the agreement automatically renews for another period (with the same terms), up to a final termination date. Where the conditions precedent are not met, the contract in not renewed, and the agreement terminates on the relevant anniversary date. Such a swap enables a party to offer better pricing due to period valuations and probabilities that are used to calculate the price of the swap.

US Patent:

7565316, Jul 21, 2009

Filed:

Dec 21, 2005

Appl. No.:

11/316581

Inventors:

Kaushik Amin - New York NY, US
Scott Willoughby - New York NY, US
Daniel J. Rothman - New York NY, US

Assignee:

Barclays Capital Inc. - New York NY

International Classification:

G06Q 40/00

US Classification:

705 37

Abstract:

A system and method for providing an extendable swap is provided. In a preferred embodiment, two parties enter into an ISDA Master Agreement and then negotiate one or more OTC derivative transaction agreements, including interest rate swaps, cross-currency swaps, commodity swaps, equity swaps and/or currency swaps. The parties negotiate terms including conditions precedent to the automatic extension of the extendable swap. Where the condition(s) precedent are met at the end of a period, the agreement automatically renews for another period (with the same terms), up to a final termination date. Where the conditions precedent are not met, the contract in not renewed, and the agreement terminates on the relevant anniversary date. Such a swap enables a party to offer better pricing due to period valuations and probabilities that are used to calculate the price of the swap.