Patent application number | Description | Published |
20080313100 | SYSTEMS AND METHODS FOR TRADING ACTIVELY MANAGED FUNDS - The invention provides systems and methods for intra-day trading of actively managed exchange traded funds (AMETFs). The invention provides creation and redemption structures for AMETF shares that allow arbitrage, intra-day value estimations for AMETF shares, and hedging portfolios for hedging risks associated with trading AMETF shares, all without requiring disclosure of the specific assets underlying the AMETF. | 12-18-2008 |
20090313178 | HEDGING EXCHANGE TRADED MUTUAL FUND OR OTHER PORFOLIO BASKET PRODUCTS - A system for pricing and/or determining a basket of financial instruments for hedging investment risk in actively managed traded funds is described. The system uses a trusted computer system and includes a computer storage medium storing a computer program product. The product determines a basket of hedging instruments by applying statistical or economic based factor analysis to estimate the NAV or provide a hedging basket to track actual NAV of an actively managed traded fund. | 12-17-2009 |
20100262565 | EXCHANGE TRADING OF MUTUAL FUNDS OR OTHER PORTFOLIO BASKET PRODUCTS - A system for determining a basket of financial instruments for hedging investment risk in actively managed exchange traded funds is described. The system uses a trusted computer system and includes a computer storage medium storing a computer program product. The product determines the basket of hedging instruments by extracting factor information from a portfolio of the actively managed exchange traded fund and determining factors that affect the price of the exchange traded fund. The program can select a portfolio of instruments with similar behavior with respect to the determined factors to produce a hedging portfolio that tracks the price of the exchange traded fund. | 10-14-2010 |
20110029455 | HEDGING EXCHANGE TRADED MUTUAL FUND OR OTHER PORTFOLIO BASKET PRODUCTS - A system for pricing and/or determining a basket of financial instruments for hedging investment risk in actively managed traded funds is described. The system uses a trusted computer system and includes a computer storage medium storing a computer program product. The product determines a basket of hedging instruments by applying statistical or economic based factor analysis to estimate the NAV or provide a hedging basket to rack actual NAV of an actively managed traded fund. | 02-03-2011 |
20110137825 | HEDGING EXCHANGE TRADED MUTUAL FUND OR OTHER PORTFOLIO BASKET PRODUCTS - A system for pricing and/or determining a basket of financial instruments for hedging investment risk in actively managed traded funds is described. The system uses a trusted computer system and includes a computer storage medium storing a computer program product. The product determines a basket of hedging instruments by applying statistical or economic based factor analysis to estimate the NAV or provide a hedging basket to rack actual NAV of an actively managed traded fund. | 06-09-2011 |
20120101959 | EXCHANGE TRADING OF MUTUAL FUNDS OR OTHER PORTFOLIO BASKET PRODUCTS - A system for determining a basket of financial instruments for hedging investment risk in actively managed exchange traded funds is described. The system uses a trusted computer system and includes a computer storage medium storing a computer program product. The product determines the basket of hedging instruments by extracting factor information from a portfolio of the actively managed exchange traded fund and determining factors that affect the price of the exchange traded fund. The program can select a portfolio of instruments with similar behavior with respect to the determined factors to produce a hedging portfolio that tracks the price of the exchange traded fund. | 04-26-2012 |
20120254010 | SYSTEMS AND METHODS FOR TRADING ACTIVELY MANAGED FUNDS - The invention provides systems and methods for intra-day trading of actively managed exchange traded funds (AMETFs). The invention provides creation and redemption structures for AMETF shares that allow arbitrage, intra-day value estimations for AMETF shares, and hedging portfolios for hedging risks associated with trading AMETF shares, all without requiring disclosure of the specific assets underlying the AMETF. | 10-04-2012 |
20130060676 | VARIANTS OF NAV-BASED TRADING FOR LESS CLOSELY-LINKED COMPONENTS OF INDEX ARBITRAGE COMPLEXES - Systems and methods are provided in which a first module is configured to execute a trade of a securities futures product on an underlying financial instrument for which a valuation relative to at least one of (a) a net asset value and (b) a closing price, is calculated and published at or after a specified time. A second module determines a price for the executed trade, in which the price is specified relative to the valuation and/or the valuation with a basis adjustment. The second module may be configured to use a price which is (a) a first price which is at a specified discount, (b) a second price which is substantially equal, and/or (c) a third price which is at a premium, to the valuation or valuation with basis adjustment. A third module is configured to submit the executed trade for settlement at the determined price. | 03-07-2013 |