System and methods for creating, trading, and settling currency futures contracts
First Claim
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1. A method for operating an electronic exchange to provide a marketplace for the trading and settling of currency futures contracts comprising the steps of:
- establishing at least one series of at least more than one currency futures contracts for the purchase of a particular currency and sale of another particular currency, wherein each such contract is comprised of a monetary amount that is denominated in one of said two particular currencies, wherein said monetary amount is the same for each such contract in the series, an initial listing date, wherein for each such contract in the series other than the first such contract in the series, said initial listing date is a common fixed number of at least one but not more than five business days following the initial listing date of the immediately prior contract in the series, a final settlement date that is subsequent to said initial listing date, and other terms for trading said currencies, and providing an interface for listing information concerning each such contract.
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Abstract
The present invention provides for an electronic exchange that provides a marketplace for the trading and settling of currency futures contracts, having methods and systems that include features such as an enhanced execution facility, clearing facility and futures contracts to facilitate such market without the disadvantages of the existing foreign exchange market centers and currency futures contract markets.
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Citations
37 Claims
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1. A method for operating an electronic exchange to provide a marketplace for the trading and settling of currency futures contracts comprising the steps of:
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establishing at least one series of at least more than one currency futures contracts for the purchase of a particular currency and sale of another particular currency, wherein each such contract is comprised of a monetary amount that is denominated in one of said two particular currencies, wherein said monetary amount is the same for each such contract in the series, an initial listing date, wherein for each such contract in the series other than the first such contract in the series, said initial listing date is a common fixed number of at least one but not more than five business days following the initial listing date of the immediately prior contract in the series, a final settlement date that is subsequent to said initial listing date, and other terms for trading said currencies, and providing an interface for listing information concerning each such contract. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method for operating an electronic exchange to provide a marketplace for the trading and settling of currency futures contracts comprising the steps of:
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establishing at least one series of at least more than one currency futures contracts for the purchase of a particular currency and sale of another particular currency, wherein each such contract is comprised of a monetary amount of ten thousand or less that is denominated in one of said two particular currencies, wherein said monetary amount is the same for each such contract in the series, an initial listing date, wherein for each such contract in the series other than the first such contract in the series, said initial listing date is a common fixed number of business days following the initial listing date of the immediately prior contract in the series, a final settlement date that is subsequent to said initial listing date, and other terms for trading said currencies, and providing an interface for listing information concerning each such contract. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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25. A system for operating an electronic exchange to provide a marketplace for the trading and settling of currency futures contracts comprising:
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a database having at least one series of at least more than one currency futures contracts for the purchase of a particular currency and sale of another particular currency, wherein each such contract is comprised of a monetary amount that is denominated in one of said two particular currencies, wherein said monetary amount is the same for each such contract in the series, an initial listing date, wherein for each such contract in the series other than the first such contract in the series, said initial listing date is a common fixed number of at least one but not more than five business days following the initial listing date of the immediately prior contract in the series, a final settlement date that is subsequent to said initial listing date, and other terms for trading said currencies, and an interface for listing information concerning each such contract. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37)
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Specification