Spot market clearing

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Reexamination Certificate

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Reexamination Certificate

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07835973

ABSTRACT:
A spot market clearing house for clearing spot market trades. The spot market clearing house may receive data indicative of settlement for the spot market trades of a participant in a single spot market or in multiple spot markets. The data may include data indicative of initial settlement and data indicative of revised settlement amounts. The spot market clearing house may further determine performance bonds amounts based on daily exposures of the participant in the single spot market or multiple spot markets. The spot market clearing house may manage fund transfers to clear trades of the participant and to satisfy performance bond amounts.

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“Clearing arrangements for exchange-traded derivatives.” CPSS Publications No. 23. Mar. 1997.
United States General Accounting Office, “Payments, Clearance, and Settlement: A Guide to the Systems, Risks, and Issues.” Jun. 1997, pp. 66-71.
Frase, Dick and Parry, Helen, “Exchanges and Alternative Trading Systems”, Sweet & Maxwell Limited, 2002, p. 99.
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