CA2684608A1 - Stock exchange trading system for mutual funds - Google Patents
Stock exchange trading system for mutual funds Download PDFInfo
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- CA2684608A1 CA2684608A1 CA002684608A CA2684608A CA2684608A1 CA 2684608 A1 CA2684608 A1 CA 2684608A1 CA 002684608 A CA002684608 A CA 002684608A CA 2684608 A CA2684608 A CA 2684608A CA 2684608 A1 CA2684608 A1 CA 2684608A1
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- 238000000034 method Methods 0.000 claims abstract description 7
- 230000003287 optical effect Effects 0.000 claims 14
- 238000001228 spectrum Methods 0.000 claims 6
- 230000010287 polarization Effects 0.000 claims 4
- 238000004891 communication Methods 0.000 abstract description 6
- 238000004364 calculation method Methods 0.000 description 6
- 239000000284 extract Substances 0.000 description 2
- 238000012544 monitoring process Methods 0.000 description 2
- 230000001186 cumulative effect Effects 0.000 description 1
- 238000010586 diagram Methods 0.000 description 1
- 230000001105 regulatory effect Effects 0.000 description 1
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/06—Asset management; Financial planning or analysis
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
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Abstract
The invention relates to systems and methods for calculating and processing data during stock trading of share investement funds. The inventive system comprises a processor unit which is connected via communication channels to a textual graphical information displaying unit and an information inputting device. The system also comprises a database of the size of shares constituting each share investment fund participating in the stock trading, a database of settlement account balances, a database of money balances of trading accounts and a database of the size of securities constituting the physical assets of each of the above-mentioned funds. The processor unit is connected via the inputting device to the above-mentioned databases and comprises a unit for evaluating a share value, which unit is connected to a unit for displaying the digital equivalent of said share value for each of the share investment funds. A unit for evaluating in a real-time mode the share value in the form of the share value index comprises a unit for summing the products of the size of securities constituting the fund physical assets, a unit for dividing the sum of products of the size of securities constituting the fund physical assets by the accounting value of said securities and a unit for dividing the money balances on the trading and the settlement accounts of the relevant share investement fund by the number of shares thereof.
Description
Stock Exchange Trading System for Mutual Funds This invention concerns the systems and ways of calculations and data processing, specially intended for specific credit and financial operations in the form of sales of shares as equivalent of securities, for example in the form of target bonds in the sphere of goods sales and service rendering.
There is known the system of monitoring and demonstration of results of mutual funds shares purchases/sales on the stock exchange that consists of a processor unit with the relevant software connected by the communication channels with the unit that displays text and graphic information and with the information input device (RU N. 2187149, G06F17/60, published 10.08.2002).
The main shortcoming of the system that is used as a tool for transactions with shares on the stock exchange is the use of algorithm of share cost calculation that lacks informativeness and accuracy.
Information on the quantity of securities included into assets of mutual funds is taken from the clearing center which is represented by the Depositary Clearing Company. Information on cash balances on trading accounts comes from the Clearing house. Data on prices of last transactions come from the stock exchange trading servers.
Information on the quantity of shares and balances on the mutual fund clearing accounts is prepared by a management company on the basis of data received from banks where clearing accounts are opened, and from a special depositary which considers changes in shares quantity at their purchase or redemption by shareholders. The stock exchange receives this information once a day prior to the beginning of trades and it remains unchanged throughout the trading day.
Management companies are obliged to purchase and redeem shares from shareholders only at the price calculated by the method according to which share cost is calculated in the following way: opening balance of securities at the beginning of day is multiplied by the weighted average
There is known the system of monitoring and demonstration of results of mutual funds shares purchases/sales on the stock exchange that consists of a processor unit with the relevant software connected by the communication channels with the unit that displays text and graphic information and with the information input device (RU N. 2187149, G06F17/60, published 10.08.2002).
The main shortcoming of the system that is used as a tool for transactions with shares on the stock exchange is the use of algorithm of share cost calculation that lacks informativeness and accuracy.
Information on the quantity of securities included into assets of mutual funds is taken from the clearing center which is represented by the Depositary Clearing Company. Information on cash balances on trading accounts comes from the Clearing house. Data on prices of last transactions come from the stock exchange trading servers.
Information on the quantity of shares and balances on the mutual fund clearing accounts is prepared by a management company on the basis of data received from banks where clearing accounts are opened, and from a special depositary which considers changes in shares quantity at their purchase or redemption by shareholders. The stock exchange receives this information once a day prior to the beginning of trades and it remains unchanged throughout the trading day.
Management companies are obliged to purchase and redeem shares from shareholders only at the price calculated by the method according to which share cost is calculated in the following way: opening balance of securities at the beginning of day is multiplied by the weighted average
2 price according to the results of the day. Then the sum of all assets is divided by the quantity of shares. As a result it turns out, that transactions with shares through the management company can be performed only at the yesterday's prices which at the moment can be far from reality.
For today the main deterrent impeding active mutual funds trading on the exchange stock is absence of reliable and up-to-date information on cost of property of mutual funds for every share. Only such information would help professional participants of the market support bid/asked quotations of investment shares, and investors enter into mutual fund transaction on the stock exchange. In fact the mutual fund portfolio structure and operation with its assets is restricted information, therefore to define what happens to share cost in case of growth or drop of various shares quotations is not possible for other participants of the market. It is obvious, that in view of existing normative documents of regulating authorities a shareholder can obtain unjustified benefit or loss in relation to other shareholders at purchase or sale of shares via the management company as the price is defined with the method specified above. This fact justifies the existence of big extra charges when shares are purchased and discounts when shares are sold so that persons having insider information on real share cost could not obtain unjustified benefit.
Besides, the procedure of share purchase and redemption does not give an opportunity to shareholders for active transactions with shares.
According to the current legislation the management company has a right to define the price for share redemption within 3 days after receipt of the application for redemption and then delay redemption for up to 15 days.
Performance of transactions with investment units via the stock exchange is capable to radically improve the situation and increase the appeal of the investment funds institute. All what is necessary for this purpose is to define cost of property for one share on-line. If property of a share consists only of stock exchange financial instruments it is always possible to estimate its cost according to the prices of last transactions on
For today the main deterrent impeding active mutual funds trading on the exchange stock is absence of reliable and up-to-date information on cost of property of mutual funds for every share. Only such information would help professional participants of the market support bid/asked quotations of investment shares, and investors enter into mutual fund transaction on the stock exchange. In fact the mutual fund portfolio structure and operation with its assets is restricted information, therefore to define what happens to share cost in case of growth or drop of various shares quotations is not possible for other participants of the market. It is obvious, that in view of existing normative documents of regulating authorities a shareholder can obtain unjustified benefit or loss in relation to other shareholders at purchase or sale of shares via the management company as the price is defined with the method specified above. This fact justifies the existence of big extra charges when shares are purchased and discounts when shares are sold so that persons having insider information on real share cost could not obtain unjustified benefit.
Besides, the procedure of share purchase and redemption does not give an opportunity to shareholders for active transactions with shares.
According to the current legislation the management company has a right to define the price for share redemption within 3 days after receipt of the application for redemption and then delay redemption for up to 15 days.
Performance of transactions with investment units via the stock exchange is capable to radically improve the situation and increase the appeal of the investment funds institute. All what is necessary for this purpose is to define cost of property for one share on-line. If property of a share consists only of stock exchange financial instruments it is always possible to estimate its cost according to the prices of last transactions on
3 the stock exchange. Taking into account the fact that the intraday quantity of shares does not vary, it makes no difficulties to estimate property cost of a mutual fund for one share.
The present invention is intended to decide a technical problem on input of corresponding algorithm into the system of monitoring and displaying of the stock exchange trading results to define the cost of property for one share on-line.
Technical result achieved by the invention consists in increase of informativeness and reliability of trading results due to displaying real share cost based on the results of each transaction.
The described above technical result is achieved due to the fact that the stock exchange trading system for mutual funds that includes processor unit (connected by the communication channels with the unit that displays text and graphic information and with the information input device) additionally includes data base on the quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base on cash balances on trading accounts and database on the quantity of securities of which property of every specified fund consists.
The processor unit is connected via the input device with the mentioned data bases and includes the unit defining share cost connected with the unit displaying the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line. At the same time the unit defining on-line share cost as the share price index includes the unit of multiplying the quantity of securities included into fund property by accounting price of this securities, the unit of division by the quantity of fund shares the received product of the quantity of securities included into fund property by accounting price of these securities, units of division of cash balances on trading and clearing accounts of the relevant mutual fund by the quantity of shares of this fund, and also the unit of summation of all the division results. It also has a function of defining on-line share cost in the form of share cost index, determined by division of sum of
The present invention is intended to decide a technical problem on input of corresponding algorithm into the system of monitoring and displaying of the stock exchange trading results to define the cost of property for one share on-line.
Technical result achieved by the invention consists in increase of informativeness and reliability of trading results due to displaying real share cost based on the results of each transaction.
The described above technical result is achieved due to the fact that the stock exchange trading system for mutual funds that includes processor unit (connected by the communication channels with the unit that displays text and graphic information and with the information input device) additionally includes data base on the quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base on cash balances on trading accounts and database on the quantity of securities of which property of every specified fund consists.
The processor unit is connected via the input device with the mentioned data bases and includes the unit defining share cost connected with the unit displaying the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line. At the same time the unit defining on-line share cost as the share price index includes the unit of multiplying the quantity of securities included into fund property by accounting price of this securities, the unit of division by the quantity of fund shares the received product of the quantity of securities included into fund property by accounting price of these securities, units of division of cash balances on trading and clearing accounts of the relevant mutual fund by the quantity of shares of this fund, and also the unit of summation of all the division results. It also has a function of defining on-line share cost in the form of share cost index, determined by division of sum of
4 product of securities included into fund property by accounting price of these securities plus cash balances on trading and clearing accounts of the relevant mutual fund by the quantity of shares of this fund.
The specified features are essential and interconnected and form the stable complex of essential features sufficient to obtain the specified technical result.
The present invention is explained by the specific example which, however, is not unique but visually demonstrates an opportunity of obtaining the demanded technical result with the help of given complex of features.
Fig. 1 shows the block diagram of stock exchange trading system for mutual funds.
According to the invention stock exchange trading system for mutual funds (fig. 1) includes the processor unit 1 connected by the communication channels with the unit 2 that displays text and graphic information and with the information input device/devices 3. The unit that displays text and graphic information is presented as a display or as a creeping line.
The processor unit, the unit that displays text and graphic information and the information input device/devices are the known components of any computerized system.
The processor unit has the relevant software.
The system includes data base 4 on quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base 5 on cash balances on trading accounts, data base 6 on the cash balances on trading accounts and data base 7 on the quantity of securities of which property of every specified fund consists. The processing unit is connected via the input device/devices 3 with the mentioned databases 4-7 and includes the unit 8 defining share cost connected with the unit 2 displaying the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line. The unit 8 defining on-line share cost includes the unit 9 multiplying the quantity of securities included into fund property by accounting price of this securities, the unit 10 of division by the quantity of fund shares the received product of the quantity of securities included into fund property by
The specified features are essential and interconnected and form the stable complex of essential features sufficient to obtain the specified technical result.
The present invention is explained by the specific example which, however, is not unique but visually demonstrates an opportunity of obtaining the demanded technical result with the help of given complex of features.
Fig. 1 shows the block diagram of stock exchange trading system for mutual funds.
According to the invention stock exchange trading system for mutual funds (fig. 1) includes the processor unit 1 connected by the communication channels with the unit 2 that displays text and graphic information and with the information input device/devices 3. The unit that displays text and graphic information is presented as a display or as a creeping line.
The processor unit, the unit that displays text and graphic information and the information input device/devices are the known components of any computerized system.
The processor unit has the relevant software.
The system includes data base 4 on quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base 5 on cash balances on trading accounts, data base 6 on the cash balances on trading accounts and data base 7 on the quantity of securities of which property of every specified fund consists. The processing unit is connected via the input device/devices 3 with the mentioned databases 4-7 and includes the unit 8 defining share cost connected with the unit 2 displaying the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line. The unit 8 defining on-line share cost includes the unit 9 multiplying the quantity of securities included into fund property by accounting price of this securities, the unit 10 of division by the quantity of fund shares the received product of the quantity of securities included into fund property by
5 accounting price of these securities, the unit 11 division of cash balances on trading accounts of the relevant mutual fund by the quantity of shares of this fund, the unit 12 of division of clearing accounts of the relevant mutual fund by the quantity of shares of this fund, and also the unit 13 summation of all the division results of product of quantity of securities included into the fund property with the results received in units of division.
The unit of share cost calculation with the specified software has the function of share cost defining on-line and displaying of the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line in the form of the share cost index calculated dividing by the quantity of fund shares the received product of the quantity of securities included into fund property by accounting price of these securities plus the cash balances on trading and clearing accounts of the relevant mutual fund.
The example of share cost calculation is the following:
1. Prior to the beginning of trades the stock exchange receives from the management company the information in the form of:
a. extracts on the quantity of shares included into the fund;
b. extracts on balances on mutual fund clearing accounts.
These data remains unchanged throughout the day. All quantity of shares changes in case of redemption or sale of shares will be made after closing of trades.
2. The stock exchange has the information on the quantity of securities and cash balances on trading accounts included into the fund property on-line.
3. As the accounting price which is the basis for securities cost determination is taken the price of last transaction. If within the day any
The unit of share cost calculation with the specified software has the function of share cost defining on-line and displaying of the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line in the form of the share cost index calculated dividing by the quantity of fund shares the received product of the quantity of securities included into fund property by accounting price of these securities plus the cash balances on trading and clearing accounts of the relevant mutual fund.
The example of share cost calculation is the following:
1. Prior to the beginning of trades the stock exchange receives from the management company the information in the form of:
a. extracts on the quantity of shares included into the fund;
b. extracts on balances on mutual fund clearing accounts.
These data remains unchanged throughout the day. All quantity of shares changes in case of redemption or sale of shares will be made after closing of trades.
2. The stock exchange has the information on the quantity of securities and cash balances on trading accounts included into the fund property on-line.
3. As the accounting price which is the basis for securities cost determination is taken the price of last transaction. If within the day any
6 security didn't take part in the transactions then the closing price of the previous day is used.
4. Net asset value (NAV) of mutual fund is determined as the sum of product of quantity of securities on accounting price, plus cash balances on trading and clearing accounts.
5. Cost of mutual fund property for one share is determined dividing NAV by the quantity of shares.
Updating of information takes place in case of transaction with fund assets or in case if the price of last transaction on securities of the issuer included into the mutual fund investment portfolio changes. This value in the form of share price index is transmitted at stock exchange in the same way as stock indices are.
The share price (cost) index It on an estimated time is calculated as the ratio of cumulative market value St of net mutual fund assets at the present time to the quantity of shares Nt: It=St/Nt, where N
S1r=Ypl*Qi+ 11.I u+ 11-I1.
1=Q
where Q; - the quantity of i-th type securities belonging to mutual fund at the present moment;
P; - the price of i-th security for an estimated time;
Mb - cash balance of mutual fund on trading account in stock exchange trading system;
Mr - total cash balances of mutual fund on its clearing accounts adjusted according to value of receivable and payable accounts;
N - the number of securities type in the mutual fund investment portfolio.
If during the current trading session the transactions on these securities were carried out then as Pi for i security is taken the price of last transaction and if transactions on these securities during the current
4. Net asset value (NAV) of mutual fund is determined as the sum of product of quantity of securities on accounting price, plus cash balances on trading and clearing accounts.
5. Cost of mutual fund property for one share is determined dividing NAV by the quantity of shares.
Updating of information takes place in case of transaction with fund assets or in case if the price of last transaction on securities of the issuer included into the mutual fund investment portfolio changes. This value in the form of share price index is transmitted at stock exchange in the same way as stock indices are.
The share price (cost) index It on an estimated time is calculated as the ratio of cumulative market value St of net mutual fund assets at the present time to the quantity of shares Nt: It=St/Nt, where N
S1r=Ypl*Qi+ 11.I u+ 11-I1.
1=Q
where Q; - the quantity of i-th type securities belonging to mutual fund at the present moment;
P; - the price of i-th security for an estimated time;
Mb - cash balance of mutual fund on trading account in stock exchange trading system;
Mr - total cash balances of mutual fund on its clearing accounts adjusted according to value of receivable and payable accounts;
N - the number of securities type in the mutual fund investment portfolio.
If during the current trading session the transactions on these securities were carried out then as Pi for i security is taken the price of last transaction and if transactions on these securities during the current
7 trading session were not carried out then as Pi for i security is taken the closing price of the previous day.
The market of polled investments in Russia for the last years has shown high growth dynamic, however, shareholders had the opportunities to receive the information on cost of net assets and share only after the ending of trading session. The present invention will allow to make share pricing more transparent: the indicator of share cost will allow investors to trace its dynamics during the trading day and operatively make decisions on sale or purchase of shares. Calculation of such indicator will contribute to popularization and growth of liquidity of the secondary market of the given tools.
The present invention is exercisable as it can be realized with use of widely applicable computerized systems.
The invention formula Stock exchange trading system for mutual funds that includes processor unit (connected by the communication channels with the unit that displays text and graphic information and with the information input device) is distinguished from other systems by the fact that it additionally includes data base on the quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base on balances on clearing accounts, data base on cash balances on trading accounts and database on the quantity of securities of which property of every specified fund consists. The processor unit is connected via the input device with the mentioned data bases and includes the unit defining share cost connected with the unit displaying the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line.
At the same time the unit defining on-line share cost as the share price index includes the unit of multiplying the quantity of securities included into fund property by accounting price of this securities, the unit of division by the quantity of fund shares the received product of the quantity of
The market of polled investments in Russia for the last years has shown high growth dynamic, however, shareholders had the opportunities to receive the information on cost of net assets and share only after the ending of trading session. The present invention will allow to make share pricing more transparent: the indicator of share cost will allow investors to trace its dynamics during the trading day and operatively make decisions on sale or purchase of shares. Calculation of such indicator will contribute to popularization and growth of liquidity of the secondary market of the given tools.
The present invention is exercisable as it can be realized with use of widely applicable computerized systems.
The invention formula Stock exchange trading system for mutual funds that includes processor unit (connected by the communication channels with the unit that displays text and graphic information and with the information input device) is distinguished from other systems by the fact that it additionally includes data base on the quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base on balances on clearing accounts, data base on cash balances on trading accounts and database on the quantity of securities of which property of every specified fund consists. The processor unit is connected via the input device with the mentioned data bases and includes the unit defining share cost connected with the unit displaying the numerical equivalent of cost of this share for each mutual fund on the display or as a creeping line.
At the same time the unit defining on-line share cost as the share price index includes the unit of multiplying the quantity of securities included into fund property by accounting price of this securities, the unit of division by the quantity of fund shares the received product of the quantity of
8 securities included into fund property by accounting price of these securities, units of division of cash balances on trading and clearing accounts of the relevant mutual fund by the quantity of shares of this fund, and also the unit of summation of all the division results. It also has a function of defining on-line share cost in the form of share cost index, determined by division of sum of product of securities included into fund property by accounting price of these securities plus cash balances on trading and clearing accounts of the relevant mutual fund by the quantity of shares of this fund.
Summary The invention concerns the systems and ways of calculations and data processing in the stock exchange trading system for mutual funds.
The system includes the processor unit connected by the communication channels with the unit that displays text and graphic information and with the information input device. The system includes data base on the quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base on balances on clearing accounts, data base on cash balances on trading accounts and database on the quantity of securities of which property of every specified fund consists.
The processor unit is connected via the input device with data bases and includes the unit defining share cost connected with the unit displaying the numerical equivalent of cost of this share for each mutual fund. The unit defining on-line share cost as the share price index includes the unit of summarizing the product of the quantity of securities included into fund property, the unit of division of the product of the quantity of securities included into fund property by accounting price of these securities, units of division of cash balances on trading and clearing accounts of the relevant mutual fund by the quantity of shares of this fund.
Summary The invention concerns the systems and ways of calculations and data processing in the stock exchange trading system for mutual funds.
The system includes the processor unit connected by the communication channels with the unit that displays text and graphic information and with the information input device. The system includes data base on the quantity of shares of which every mutual fund participating in trades on the stock exchange consists, data base on balances on clearing accounts, data base on cash balances on trading accounts and database on the quantity of securities of which property of every specified fund consists.
The processor unit is connected via the input device with data bases and includes the unit defining share cost connected with the unit displaying the numerical equivalent of cost of this share for each mutual fund. The unit defining on-line share cost as the share price index includes the unit of summarizing the product of the quantity of securities included into fund property, the unit of division of the product of the quantity of securities included into fund property by accounting price of these securities, units of division of cash balances on trading and clearing accounts of the relevant mutual fund by the quantity of shares of this fund.
Claims (2)
1. A method for determining a noise parameter on an input optical signal having a data-carrying signal contribution and a noise contribution within an optical signal bandwidth, the method comprising:
obtaining at least two optical spectrum traces from said input optical signal, said optical spectrum traces being taken under different conditions such that they show different non-zero signal-to-noise ratios;
mathematically discriminating said signal contribution from said noise contribution within said optical signal bandwidth based on said optical spectrum traces;
determining an in-band noise level on said input optical signal from the discriminated noise contribution; and determining the noise parameter from the determined in-band noise level, the noise parameter being indicative of the noise contribution within the optical signal bandwidth.
obtaining at least two optical spectrum traces from said input optical signal, said optical spectrum traces being taken under different conditions such that they show different non-zero signal-to-noise ratios;
mathematically discriminating said signal contribution from said noise contribution within said optical signal bandwidth based on said optical spectrum traces;
determining an in-band noise level on said input optical signal from the discriminated noise contribution; and determining the noise parameter from the determined in-band noise level, the noise parameter being indicative of the noise contribution within the optical signal bandwidth.
2. The method as claimed in claim 1, wherein the signal contribution and the noise contribution have at least one of different degrees of polarization and different states of polarization from one another and wherein said obtaining at least two optical spectrum traces comprises:
producing at least two samples of the input optical signal, under different polarization analysis conditions, states of polarization of the two samples being arbitrary relative to said input optical signal; and acquiring an optical spectrum of each one of the first and the second samples to obtain said optical spectrum traces.
producing at least two samples of the input optical signal, under different polarization analysis conditions, states of polarization of the two samples being arbitrary relative to said input optical signal; and acquiring an optical spectrum of each one of the first and the second samples to obtain said optical spectrum traces.
Applications Claiming Priority (1)
| Application Number | Priority Date | Filing Date | Title |
|---|---|---|---|
| PCT/RU2008/000144 WO2009113901A1 (en) | 2008-03-14 | 2008-03-14 | Stock-exchange system for trading shares of share investment funds |
Publications (1)
| Publication Number | Publication Date |
|---|---|
| CA2684608A1 true CA2684608A1 (en) | 2009-09-17 |
Family
ID=41065439
Family Applications (1)
| Application Number | Title | Priority Date | Filing Date |
|---|---|---|---|
| CA002684608A Abandoned CA2684608A1 (en) | 2008-03-14 | 2008-03-14 | Stock exchange trading system for mutual funds |
Country Status (5)
| Country | Link |
|---|---|
| EP (1) | EP2254085A4 (en) |
| CN (1) | CN101755276A (en) |
| CA (1) | CA2684608A1 (en) |
| EA (1) | EA014732B1 (en) |
| WO (1) | WO2009113901A1 (en) |
Families Citing this family (1)
| Publication number | Priority date | Publication date | Assignee | Title |
|---|---|---|---|---|
| US20180082376A1 (en) * | 2016-09-19 | 2018-03-22 | Prive Services Limited | Data Access in a Computer Based Virtual Fund Management System |
Family Cites Families (5)
| Publication number | Priority date | Publication date | Assignee | Title |
|---|---|---|---|---|
| US5497317A (en) * | 1993-12-28 | 1996-03-05 | Thomson Trading Services, Inc. | Device and method for improving the speed and reliability of security trade settlements |
| RU2187149C1 (en) | 2000-09-19 | 2002-08-10 | Марат Саитович Тугушев | Method and system for financial transactions by means of securities |
| US20060218075A1 (en) * | 2005-01-21 | 2006-09-28 | Feldman Victor D | Exchange traded fund with futures contract based assets |
| RU55170U1 (en) * | 2005-03-15 | 2006-07-27 | Общество с ограниченной ответственностью "ИНВЕСТИЦИОННАЯ ФИНАНСОВАЯ ГРУППА "ГЛЕНИК-М" (ООО "ИНВЕСТИЦИОННАЯ ФИНАНСОВАЯ ГРУППА "ГЛЕНИК-М") | SYSTEM OF DISPLAYING RESULTS OF PURCHASE / SELLING OF UNITS OF MUTUAL INVESTMENT FUNDS ON THE EXCHANGE |
| WO2006133501A1 (en) * | 2005-06-16 | 2006-12-21 | Sharecover Services Pty Limited | Automated formulation of option contracts for shares |
-
2008
- 2008-03-14 WO PCT/RU2008/000144 patent/WO2009113901A1/en active Application Filing
- 2008-03-14 EP EP08873337A patent/EP2254085A4/en not_active Withdrawn
- 2008-03-14 CN CN200880012667A patent/CN101755276A/en active Pending
- 2008-03-14 CA CA002684608A patent/CA2684608A1/en not_active Abandoned
- 2008-03-14 EA EA200901370A patent/EA014732B1/en not_active IP Right Cessation
Also Published As
| Publication number | Publication date |
|---|---|
| EP2254085A4 (en) | 2011-06-15 |
| CN101755276A (en) | 2010-06-23 |
| EA200901370A1 (en) | 2010-04-30 |
| EA014732B1 (en) | 2011-02-28 |
| EP2254085A1 (en) | 2010-11-24 |
| WO2009113901A1 (en) | 2009-09-17 |
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