Financial activity based on natural peril events
First Claim
1. A system for conducting a financial activity based on a natural peril event, comprising:
- a financial activity module for facilitating financial activity between a provider and at least two participants, for receiving natural peril event information from an external independent information source of such information and for providing financial activity information to the participants, including information relating to the natural peril event information and a plurality of geographic regions for which the financial activity is to occur and in which a future natural peril event may occur;
at least one communication module for communication between the financial activity module and an external independent information source for receiving the natural peril event information;
the financial activity module also providing index information including an index having an index value varying in response to one or more natural peril events;
the financial activity module presenting to the participants at least one derivative product to be traded between the participants, for a plurality of geographic regions, the derivative product having a value that varies in response to the index and which is settled based on at least one of the external natural peril event information and the index information.
1 Assignment
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 peril event and, optionally, one or more secondary parameters relating to the natural peril event, such as the time interval between the time of investment and the time of an 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 peril event. Methods and articles of manufacture are also disclosed.
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Citations
25 Claims
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1. A system for conducting a financial activity based on a natural peril event, comprising:
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a financial activity module for facilitating financial activity between a provider and at least two participants, for receiving natural peril event information from an external independent information source of such information and for providing financial activity information to the participants, including information relating to the natural peril event information and a plurality of geographic regions for which the financial activity is to occur and in which a future natural peril event may occur;
at least one communication module for communication between the financial activity module and an external independent information source for receiving the natural peril event information;
the financial activity module also providing index information including an index having an index value varying in response to one or more natural peril events;
the financial activity module presenting to the participants at least one derivative product to be traded between the participants, for a plurality of geographic regions, the derivative product having a value that varies in response to the index and which is settled based on at least one of the external natural peril event information and the index information. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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9. A method for conducting a financial activity between a provider and at least two participants, based on a natural peril event, comprising:
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the provider receiving natural peril event information from an external independent information source of such information;
the provider receiving index information from an external independent information source of such information, the index information including an index having an index value varying in response to one or more natural peril events;
the provider providing financial activity information to the participants, including information relating to the natural peril event information, and a plurality of geographic regions for which the financial activity is to occur and in which a future natural peril event may occur;
the provider presenting to the participants at least one derivative product traded between the participants, the derivative product having a value that varies in response to the index and which is settled based on at least one of the natural peril event information and the index information. - View Dependent Claims (8, 10, 11, 12, 13, 14, 15)
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16. A method for conducting a financial activity between a provider and at least two participants, based on a natural peril event, comprising:
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the provider defining a plurality of geographic regions for which the financial activity is to occur and in which a future natural peril event may occur;
the provider receiving natural peril event information from an external independent information source of such information;
the provider providing for each region, an index having an index value varying in response to one or more natural peril events;
the provider providing financial activity information to the participants, including information relating to the natural peril event information, the index, and the geographic regions;
the provider presenting to the participants at least one derivative product traded between the participants for each of the regions, the derivative product having a value that varies in response to the index and which is settled based on at least one of the external natural peril event information and the index information. - View Dependent Claims (17, 18, 19)
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20. A system for conducting a financial activity based on a natural peril event, comprising:
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a financial activity module for facilitating financial activity between a provider and at least two participants, for receiving natural peril event information from an external independent information source of such information and for providing financial activity information to the participants, including information relating to the natural peril event information and a plurality of geographic regions for which the financial activity is to occur and in which a future natural peril event may occur;
at least one communication module for communication between the financial activity module and an external independent information source for receiving the natural peril event information and for receiving index information including an index having an index value varying in response to one or more natural peril events;
the financial activity module presenting to the participants at least one derivative product to be traded between the participants, for a plurality of geographic regions, the derivative product having a value that varies in response to the index and which is settled based on at least one of the natural peril event information and the index information. - View Dependent Claims (21, 22)
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23. A system for conducting a financial activity based on a natural peril event, comprising:
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a financial activity module for facilitating financial activity between a provider and at least two participants, for defining a plurality of geographic regions for which the financial activity is to occur and in which a future natural peril event may occur, for receiving natural peril event information from an external independent information source of such information and for providing financial activity information to the participants, including information relating to the natural peril event information and the geographic regions;
at least one communication module for communication between the financial activity module and an external independent information source for receiving the natural peril event information from at least one external independent information source;
the financial activity module providing index information including an index having an index value varying in response to one or more natural peril events;
the financial activity module presenting to the participants at least one derivative product to be traded between the participants, for a plurality of geographic regions, the derivative product having a value that varies in response to the index and which is settled based on at least one of the natural peril event information and the index information, and for providing an indication of a matching outcome to the participants. - View Dependent Claims (24, 25)
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Specification