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COMPUTER-IMPLEMENTED SYSTEM AND METHOD FOR CLEARING A DERIVATIVE TRADE INVOLVING MULTIPLE TRADING EXCHANGES

  • US 20140172663A1
  • Filed: 12/19/2012
  • Published: 06/19/2014
  • Est. Priority Date: 12/19/2012
  • Status: Active Grant
First Claim
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1. A computer-implemented method performed by a data processing node associated with a first trading exchange, comprising the steps of:

  • determining, by the data processing node, that a trade order for a derivative contract from a first trading participant associated with the first trading exchange is routed to and matched at a second, different trading exchange with a counter order from a second trading participant at the second trading exchange;

    generating, by the data processing node, a balance derivative trade, separate from but with obligations corresponding to the matched trade, between the first trading participant and a balancing clearing entity affiliated with a clearing house associated with the first trading exchange; and

    sending, by the data processing node, an electronic message to a clearing house computer of the clearing house associated with the first trading exchange that includes the balance derivative trade for clearing.

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