Financial activity based on tropical weather events
First Claim
1. A method of conducting a financial activity between a provider and a plurality of participants, based on a tropical weather event, comprising:
- a method for obtaining the participants'"'"' prediction data of a predicted outcome of the tropical weather event;
a method for obtaining the participants'"'"' investment funds;
a method for pooling the participants'"'"' investment funds in a common pool;
a method for obtaining from an external independent information source, external information concerning the tropical weather event;
a method for comparing the participants'"'"' prediction data to the external information to determine if a matching outcome exists; and
a method for distributing funds from the pool to participants having a matching outcome.
3 Assignments
0 Petitions
Accused Products
Abstract
A financial activity network includes a central managing system connected to a plurality of participant terminals. Rules governing operation of the financial activity are stored for future reference. A participant provides investment information such as a map location for the predicted strike by the natural event and, optionally, one or more secondary parameters relating to the natural event, such as the time interval between the time of investment and the time of all event strike and/or the severity of the event strike according to an established scale. In one example, an external objective independent information source is consulted, with the external objective independent information source providing monitoring, interpretation and derived determination of parameters pertaining to the natural event. Methods and articles of manufacture are also disclosed.
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Citations
33 Claims
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1. A method of conducting a financial activity between a provider and a plurality of participants, based on a tropical weather event, comprising:
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a method for obtaining the participants'"'"' prediction data of a predicted outcome of the tropical weather event;
a method for obtaining the participants'"'"' investment funds;
a method for pooling the participants'"'"' investment funds in a common pool;
a method for obtaining from an external independent information source, external information concerning the tropical weather event;
a method for comparing the participants'"'"' prediction data to the external information to determine if a matching outcome exists; and
a method for distributing funds from the pool to participants having a matching outcome. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A method for a participant to engage in financial activity including a plurality of other participants, conducted by a provider, based on a tropical weather event, comprising:
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a method for the participant to receive information pertaining to the tropical weather event;
a method for the participant to provide prediction data and investment funds pertaining to the outcome of the tropical weather event;
a method for the participant to obtain an indication from the provider pertaining to a matching outcome of a comparison of the participants'"'"' prediction data to tropical weather event data from an external independent information source; and
a method for the participant to receive funds from a common pool comprising, at least in part, the participant'"'"'s investment funds. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A system for conducting a financial activity based on a tropical weather event, comprising:
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a financial activity module for facilitating financial activity between a provider and a plurality of participants, for receiving external tropical weather event information from an external independent information source and for providing financial activity information to the participants;
at least one communication module for communication between the financial activity module and an external independent information source for receiving the external tropical weather event information from the external independent information source;
the at least one communication module further providing communication between the financial activity module and the participants, to receive prediction data from the participants pertaining to the tropical weather event;
a comparing module for comparing the participants'"'"' prediction data to the external tropical weather event information and for providing an indication of a matching outcome to the participants; and
a distribution module for distributing funds from a common pool of funds collected from the participants, to participants having a matching outcome. - View Dependent Claims (32)
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33. An article of manufacture including a machine readable medium for causing a computer system to conduct a financial activity between a provider and a plurality of participants, based on a tropical weather event, comprising:
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a module for conducting financial activity between a provider and a plurality of participants, for receiving tropical weather event information from an external independent information source and for providing financial activity information to the participants;
at least one communication module for conducting a communication activity communicating between the financial activity module and an external independent information source for receiving tropical weather event information from the external independent information source;
the at least one communication module communicating between the financial activity module and the participants to receive prediction data from the participants, pertaining to the tropical weather event;
a module for comparing the participants'"'"' prediction data to the indication of the occurrence of the tropical weather event; and
the at least one communication module further communicating between the financial activity module and the participants to provide to the participants an indication of a matching outcome based upon a matching outcome of the comparing step and to indicate to the participants having a protective outcome from the comparing step, the portion of funds to be paid from a common pool collected from the participants.
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Specification