Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2002-06-17
2009-08-04
Kazimi, Hani (Department: 3691)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
07571130
ABSTRACT:
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.
REFERENCES:
patent: 5121337 (1992-06-01), Brown
patent: 5214579 (1993-05-01), Wolfberg
patent: 5658423 (1997-08-01), Angell et al.
patent: 5761442 (1998-06-01), Barr et al.
patent: 5765165 (1998-06-01), Harper
patent: 5799287 (1998-08-01), Dembo
patent: 5806048 (1998-09-01), Kiron et al.
patent: 5873071 (1999-02-01), Ferstenberg et al.
patent: 5875437 (1999-02-01), Atkins
patent: 5930762 (1999-07-01), Masch
patent: 5937159 (1999-08-01), Meyers
patent: 5987435 (1999-11-01), Weiss et al.
patent: 6003018 (1999-12-01), Michaud et al.
patent: 6047270 (2000-04-01), Joao
patent: 6061662 (2000-05-01), Makivic
patent: 6061663 (2000-05-01), Bloom et al.
patent: 6088685 (2000-07-01), Kiron et al.
patent: 6108648 (2000-08-01), Lakshmi et al.
patent: 6111255 (2000-08-01), Malins
patent: 6205439 (2001-03-01), Gardner
patent: 6244986 (2001-06-01), Mori et al.
patent: 6275814 (2001-08-01), Giansante et al.
patent: 6304858 (2001-10-01), Mosler
patent: 6317728 (2001-11-01), Kane
patent: 6321212 (2001-11-01), Lange
patent: 6360210 (2002-03-01), Wallman
patent: 6377907 (2002-04-01), Waclawski
patent: 6456982 (2002-09-01), Pilipovic
patent: 6584502 (2003-06-01), Natarajan et al.
patent: 6606615 (2003-08-01), Jennings et al.
patent: 6832210 (2004-12-01), Li
patent: 7085738 (2006-08-01), Tarrant
patent: 7103569 (2006-09-01), Groveman et al.
patent: 7206760 (2007-04-01), Carey et al.
patent: 7349878 (2008-03-01), Makivic
patent: 2002/0007329 (2002-01-01), Alcaly et al.
patent: 2002/0091616 (2002-07-01), Bloom et al.
patent: 2002/0099640 (2002-07-01), Lange
patent: 2002/0120542 (2002-08-01), Higgins
patent: 2002/0178111 (2002-11-01), Woodley
patent: 2002/0184126 (2002-12-01), McIntyre, Jr. et al.
patent: 2003/0014343 (2003-01-01), Jones
patent: 2003/0065602 (2003-04-01), Yip
patent: 2003/0126062 (2003-07-01), Gilbert et al.
patent: 2003/0139993 (2003-07-01), Feuerverger
patent: 2003/0144947 (2003-07-01), Payne
patent: 2003/0177084 (2003-09-01), Cassani et al.
patent: 2004/0044505 (2004-03-01), Horwitz
patent: 2004/0049448 (2004-03-01), Glickman
patent: 2004/0059621 (2004-03-01), Jameson
patent: 2004/0215551 (2004-10-01), Eder
patent: 2005/0027634 (2005-02-01), Gershon
patent: 2005/0108134 (2005-05-01), Harlow et al.
patent: 0 434 877 (1991-07-01), None
patent: WO 96/18963 (1996-06-01), None
patent: WO 01/03046 (2001-11-01), None
patent: WO 02/084435 (2002-10-01), None
patent: WO 02/091109 (2002-11-01), None
patent: WO 03/001325 (2003-03-01), None
patent: WO 03/036533 (2003-05-01), None
patent: WO 03/036533 (2003-05-01), None
patent: WO 03/083616 (2003-10-01), None
Lehman et al., Mutual Fund Performance Evaluation: a Comparison of Benchmark and Benchmark Comparison, Journal of Finance, vol. 2, No. 2, Jun. 1987, 235-238.
Greene, Andrew: New Products: Amex plans active exchange-traded fund, Aug. 21, 2000, Investment Management Weekly. New York, p. 1.
Grinold et al.: Multi-factor models for portfolio risk., 1994, A Practioner Guide to FactorsModels, The Research Foundation of Institute of Chartered Financial Analyst, pp. 59-80.
Greene, Andrew: New Products: Amex plans active exchange-traded fund, Aug. 21, 2000, Investment Management Weekly. New York, p. 1
Hoffman, D: A solution in a search of a problem? Advisors shug at AMEX's plan to develop actively managed ETFs, Jul. 12, 2004, Investment News, pp. 1-5.
Thomson Media Inc.: Actively Managed ETFs on Horizon, Jun. 28, 2004, Securities Industry News, pp. 1-4.
Benjamin, J: Managed ETFs may invade U.S: After European tryout, SEC approval sought, Jan. 8, 2001, Investment News, pp. 1-4.
“Vanguard SEC Exemptive Application” dated Jul. 12, 2000; pp. 1-88.
Communication pursuant to Article 96(2) EPC, dated Apr. 5, 2006.
“The Three Types of Factor Models: A Comparison of Their Explanatory Power,” Gregory Connor, pp. 1-7.
“The Arbitrage Pricing Theory and Mutifactor Models of Asset Returns,” Gregory Connor et al., Sep. 1992, Forthcoming inFinance Handbook, pp. 1-94.
M.A. Berry, et al., “Sorting Out Risks Using Known APT Factors,” Financial Analysis Journal 22 (1988), 29-42.
Chan, et al., “An Exploratory Investigation of the Firm Size Effect,” J. of Financial Econ. 14 (1985), 451-71.
B.A. Rosenberg, “Extra-Market Components of Convariance in Security Returns,” J. Financial and Quantitative Analysis 9 (1974), 263-74.
S. Beckers, et al. “The Relative Importance of Common Factors Across the European Equity Markets,” J. Banking and Finance 16 (1992), 75-97.
J.K. Kale, et al., “Industry Factors versus Other Factors in Risk Prediction,” working paper University of California, Berkeley (1991).
E.F. Fama, et al., “Common Risk Factors in the Returns of Stocks and Bonds,” J. Financial Econ. 33 (1992), 3-56.
B. Lehman, et al. ,“The Empirical Foundation of the arbitrage Pricing Theory,” J. of Financial Econ. 21 (1988), 213-54.
G. Connor, et al., “A Test for the Number of Factors in an Approximate Factor Model,” J. of Finance 48 (1993) 1263-92.
“Science and Technology: Digital Rights and Wrongs” The Economist, pp. 75-76, Jul 17, 1999..
“HCM Global Technology Fund Limited: Investment Statement”, available at www.fantasy.co.nz/brokerage/hcm/tech-is.pdf (available on or after Jun. 1, 1999).
“On Lines and Planes of Closest Fit to Systems of Points in Space”, K. Pearson, Philosophical Magazine and Journal of Science, vol. 2, Sixth Series, Jul.-Dec. 1901, pp. 559-572.
“Market Models: A Guide to Financial Data Analysis”, C. Alexander, Wileys, 2001, pp. 143-178.
Gopikrishnan, P “Quantifying and Interpreting Collective Behavior in Financial Markets” Physical Review E vol. 64, 035106 (R), pp. 1-4; Published. Aug. 30, 2001.
Elton, et al. “Modern Portfolio Theory, 1950 to date” Journal of Banking & Finance, vol. 21, issues 11-12, Dec. 1997; pp. 1743-1759.
Principal Component Estimators in Regression Analysis, Cheng, D.C. and Iglarsh, H.J.; The Review of Economics and Statistics, 58(2), May 1976, pp. 229-234.
On Portfolio Optimization: Forecasting Covariances and Choosing the Risk Mode, Chan, L. et al., The Review of Financial Studies, 12(5), Winter 1999, pp. 937-974.
“Market Models: A Guide to Financial Data Analysis,” C. Alexander, Wileys, 2001, pp. 143-178.
“A Test of the Multi-Factor Asset Pricing Model with the ASA-NBER Macroeconomic Forecasts;” Cheong;Dissertation, State University of New York at Albany, 1988.
“Active ETF Inching Toward Reality,” T. Leswing, Ignites.com, Jun. 10, 2004.
“Actively Managed ETFs on Horizon,” I. Clary, Securities Industry News, Jun. 28, 2004, Copyright © Thomson Media Inc.
“Blind Bids Become Popular in Big Trades,” Grep Ip,Wall Street Journal, Aug. 14, 1997.
“Common Factors in Security Returns: Microeconomic Determinants and Macroeconomic Correlates,” by Barr Rosenberg et al., Institute of Business and Economic Research, University of California, Berkeley, Working Paper No. 44, May 13-14, 1976, pp. 1-55.
“Common Principal Components and Related Multivariate Models;”Bernhard Flury,Department of Mathematics, Indiana University, Bloomington, Indiana, Copyright 1988 by John Wiley & Sons, Inc.; pp. 1-258.
“Could Exchange Traded Funds Be Right For You?;” Ameritrade; Ameritrade Exchange-Traded Funds-ETF Center, pp. 1-2, 2004.
“Explore the Essential of ETFs;” Ameritrade; Ameritrade Exchange-Traded Funds-ETF Center: Educ
Alexander Carol
Baker Charles A.
Gastineau Gary L.
MacQueen Jason
Norman Terry
Howrey LLP
Kazimi Hani
NYSE Alternext US LLC
Shrestha Bijendra K
LandOfFree
Hedging exchange traded mutual funds or other portfolio... does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Hedging exchange traded mutual funds or other portfolio..., we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Hedging exchange traded mutual funds or other portfolio... will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-4109626