WO2010055305A2 - Système et procédé permettant de faciliter l’échange de dérivés sur événement de crédit - Google Patents

Système et procédé permettant de faciliter l’échange de dérivés sur événement de crédit Download PDF

Info

Publication number
WO2010055305A2
WO2010055305A2 PCT/GB2009/002663 GB2009002663W WO2010055305A2 WO 2010055305 A2 WO2010055305 A2 WO 2010055305A2 GB 2009002663 W GB2009002663 W GB 2009002663W WO 2010055305 A2 WO2010055305 A2 WO 2010055305A2
Authority
WO
WIPO (PCT)
Prior art keywords
credit
processing device
tendered
user
instrument
Prior art date
Application number
PCT/GB2009/002663
Other languages
English (en)
Other versions
WO2010055305A3 (fr
Inventor
Farooq Jaffrey
Original Assignee
Traccr Limited
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Priority claimed from GBGB0820925.6A external-priority patent/GB0820925D0/en
Application filed by Traccr Limited filed Critical Traccr Limited
Publication of WO2010055305A2 publication Critical patent/WO2010055305A2/fr
Publication of WO2010055305A3 publication Critical patent/WO2010055305A3/fr

Links

Classifications

    • 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
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance
    • 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
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions

Definitions

  • the present invention is defined by the appendant claims and aims to solve the aforementioned problems.
  • the system and method of the present invention increases the availability and ease of access to credit default swap trades amongst individuals whilst ensuring that CDS trades are only effected when the credit worthiness of the individuals can be verified to an acceptable level; that is a level at which it is presumed the buyer will not default on the trade subsequent to its completion and the seller will not default on a payout if the credit event covered by the CDS occurs.
  • Fig. 1 shows a credit default swap trading system that exists in the prior art
  • the institution is commonly known as a market maker and the user is commonly known as a trader.
  • the tender processing device 202 supports tenders to buy or sell credit default swaps and the client processing device 201 serves as a platform to respond to the tenders, rather than providing its own tenders. That is to say, the client processing 201 is not accessible by any other device to view credit default swap prices, whereas the tender processing device 202 transmits and receives sale and purchase prices for credit default swaps across the network connection 203 to the server processing device 204.
  • the server processing device 204 comprises memory 204a storing a CDS database 204b of the credit default swaps which are tendered for sale or purchase by the tender processing device 202.
  • the CDS database 204b comprises an offered sale price and an offered purchase price for a unit value of the CDS.
  • the server processing device 204 receives the trade request and determines the value of the trade; that is the total purchase or sale cost to the user of the client processing device 201.
  • the server processing device 204 is configured to access the client database 204b and determine whether the identified user has sufficient credit margin and satisfies the credit conditions specified in the tendered data previously transmitted from the tender processing device 202.
  • the swap contract is completed during step 310 by being electronically signed by the server processing device 204 on behalf of both the user and institution and transmitted to both the client and tender processing devices 201, 202.
  • the electronically signed swap contract represents agreement that the seller receives a payment if the credit instrument specified in the swap contract goes into default or a specified credit event occurs.

Abstract

La présente invention concerne un système et un procédé permettant de faciliter l’échange de dérivés sur événement de crédit qui identifie un parmi une pluralité d’utilisateurs accédant à un dispositif de traitement de clients. Une donnée représentative des instruments de crédit soumis et des prix de cours vendeur provenant d’une pluralité de dispositifs de traitement de soumissions est reçue au niveau d’un dispositif de traitement de serveurs. Le dispositif de traitement de serveurs détermine à partir de données d’utilisateurs si le crédit suffisant est disponible à l’utilisateur identifié pour l’achat d’une quantité sélectionnée d’instrument de crédit soumis. S’il existe un crédit suffisant pour l’utilisateur identifié, l’instrument de crédit soumis est transféré par une instruction d’autorisation de paiement de la transaction de paiement, par la signature électronique d’un contrat de dérivés sur événement de crédit au nom de l’utilisateur et de l’acheteur ou du vendeur de l’instrument de crédit soumis et la transmission du contrat de dérivés sur événement de crédit au dispositif de traitement de soumissions et au dispositif de traitement de clients.
PCT/GB2009/002663 2008-11-14 2009-11-13 Système et procédé permettant de faciliter l’échange de dérivés sur événement de crédit WO2010055305A2 (fr)

Applications Claiming Priority (4)

Application Number Priority Date Filing Date Title
GB0820925.6 2008-11-14
GBGB0820925.6A GB0820925D0 (en) 2008-11-14 2008-11-14 System and method for facilitating exchange of credit default swaps
US12/331,569 2008-12-10
US12/331,569 US20100125518A1 (en) 2008-11-14 2008-12-10 System and method for facilitating exchange of credit default swaps

Publications (2)

Publication Number Publication Date
WO2010055305A2 true WO2010055305A2 (fr) 2010-05-20
WO2010055305A3 WO2010055305A3 (fr) 2010-07-08

Family

ID=41582043

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/GB2009/002663 WO2010055305A2 (fr) 2008-11-14 2009-11-13 Système et procédé permettant de faciliter l’échange de dérivés sur événement de crédit

Country Status (1)

Country Link
WO (1) WO2010055305A2 (fr)

Non-Patent Citations (1)

* Cited by examiner, † Cited by third party
Title
EPO: "Mitteilung des Europäischen Patentamts vom 1. Oktober 2007 über Geschäftsmethoden = Notice from the European Patent Office dated 1 October 2007 concerning business methods = Communiqué de l'Office européen des brevets,en date du 1er octobre 2007, concernant les méthodes dans le domaine des activités" JOURNAL OFFICIEL DE L'OFFICE EUROPEEN DES BREVETS.OFFICIAL JOURNAL OF THE EUROPEAN PATENT OFFICE.AMTSBLATTT DES EUROPAEISCHEN PATENTAMTS, OEB, MUNCHEN, DE, vol. 30, no. 11, 1 November 2007 (2007-11-01), pages 592-593, XP007905525 ISSN: 0170-9291 *

Also Published As

Publication number Publication date
WO2010055305A3 (fr) 2010-07-08

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