INDEX FOR FIXED INCOME SECURITIES MARKET

• US 20070156561A1
• Filed: 03/12/2007
• Published: 07/05/2007
• Est. Priority Date: 06/10/1992
• Status: Active Grant

• Current Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Original Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Inventors: Ginsberg, Philip
• Granted Patent: US 7,565,320 B2
• Time in Patent Office: Days
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

An index for a fixed income securities market may be determined based on price information regarding current activity taking place on one or more securities.

Claims

1. A method comprising:

determining an index based on price information, in which the price information comprises current activity taking place on one or more securities, and in which the index comprises an indicator for a fixed income securities market.

2. The method of claim 1, in which the fixed income securities market comprises the United States Treasuries market.

3. The method of claim 2, in which the indicator comprises a portion of the fixed income securities market.

4. The method of claim 1, in which the fixed income securities market comprises a market foreign to a United States market.

5. The method of claim 1, in which the fixed income securities market comprises a corporate bond market.

6. The method of claim 1, in which the index comprises at least one of:

a price index,

a yield to maturity index, and

a duration index.

7. The method of claim 1, in which the price information comprises at least one of:

one or more bid prices, and

one or more ask prices.

8. The method of claim 1, in which the price information comprises one or more transaction prices.

9. The method of claim 1, in which determining the index comprises determining the index in real time.

10. The method of claim 1, in which determining the index comprises determining the index asynchronously.

11. The method of claim 1, in which determining the index comprises determining the index as the price information changes.

12. The method of claim 1, in which determining the index comprises determining the index based on bid prices of the one or more securities.

13. The method of claim 1, in which determining the index comprises determining the index based on ask prices of the one or more securities.

14. The method of claim 1, in which determining the index comprises determining the index based on bid and ask prices of the one or more securities.

15. The method of claim 1, in which determining the index comprises determining the index based on transaction prices of the one or more securities.

16. The method of claim 1, in which the one or more securities comprises one or more actively traded securities and in which determining the index comprises determining the index based only on the price information of one or more of the one or more actively traded securities.

17. The method of claim 1, in which the one or more securities comprises one or more liquid securities and in which determining the index comprises determining the index based only on the price information of one or more of the one or more liquid securities.

18. The method of claim 1, further comprising receiving the price information.

19. The method of claim 18, in which receiving the price information comprises receiving the price information in real time.

20. The method of claim 18, in which receiving the price information comprises receiving the price information on an asynchronous basis.

21. The method of claim 18, in which receiving the price information comprises receiving the price information as the price information changes.

22. The method of claim 18, further comprising:

filtering the received price information; and

in which determining the index comprises determining the index based on the filtered price information.

23. The method of claim 22, in which filtering the received price information comprises filtering the received price information to remove invalid price information.

24. The method of claim 18, further comprising:

qualifying the received price information to obtain price information of only one or more liquid securities; and

in which determining the index comprises determining the index based on the qualified price information.

25. The method of claim 24, further comprising:

filtering the qualified price information to remove invalid price information; and

in which determining the index comprises determining the index based on the filtered price information.

26. The method of claim 18, further comprising:

qualifying the received price information to obtain price information of only one or more actively traded securities; and

in which determining the index comprises determining the index based on the qualified price information.

27. The method of claim 26, further comprising:

filtering the qualified price information to remove invalid price information; and

in which determining the index comprises determining the index based on the filtered price information.

28. The method of claim 1, further comprising distributing the index.

29. The method of claim 28, in which distributing the index comprising distributing the index to one or more data vendors.

30. The method of claim 28, in which distributing the index comprises distributing the index in real time.

31. The method of claim 28, in which distributing the index comprises distributing the index asynchronously.

32. The method of claim 28, in which distributing the index comprises distributing the index as the price information changes.

33. The method of claim 1, further comprising at least one of:

displaying the index, and

causing the index to be displayed.

34. The method of claim 1, further comprising at least one of:

displaying the index in real time, and

causing the index to be displayed in real time.

35. The method of claim 1, further comprising at least one of:

displaying the index asynchronously, and

causing the index to be displayed asynchronously.

36. The method of claim 1, further comprising at least one of:

displaying the index as the price information changes, and

causing the index to be displayed as the price information changes.

37. An apparatus comprising a computing device operable to perform the method of claim 1.

38. A method comprising:

causing to be displayed an index that is determined based on price information, in which the price information comprise current activity taking place on one or more securities, and in which the index comprises an indicator for a fixed income securities market.

39. The method of claim 38, further comprising causing the index to be displayed in real time.