Win, lose or draw fixed-payoff derivative

Details Win, lose or draw fixed-payoff derivative Win, lose or draw fixed-payoff derivative

2006-07-11

2009-11-17

Kyle, Charles R (Department: 3695)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S035000, C463S025000

Reexamination Certificate

active

07620589

ABSTRACT:
A fixed-payoff derivative that provides the opportunity to speculate on the movement of single-stock equities, equity indexes, bonds, commodities and currencies in a manner that eliminates the cost of an option premium. The invention, henceforth referred to as a “Win, Lose or Draw” derivative contract, is a cash position for or against the occurrence of a designated price event above an underlying financial instrument's spot price before a designated price event below an underlying financial instrument's spot price, or vice versa, within a designated time period. If neither designated price event occurs within the designated time period, no loss of cash position is incurred by either party.

REFERENCES:
patent: 7389262 (2008-06-01), Lange
patent: 2006/0143099 (2006-06-01), Partlow et al.
Pelsser, Antoon, “Pricing double barrier options using Laplace transforms,” Finance and Stochastics, Jan. 2000, vol. 4, No. 1, pp. 95-104.

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