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Method and system for consolidating commodity futures contracts having guaranteed physical delivery

  • US 7,676,406 B2
  • Filed: 06/13/2003
  • Issued: 03/09/2010
  • Est. Priority Date: 01/24/2003
  • Status: Active Grant
First Claim
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1. A computer-implemented method for an exchange to adjust positions of market participants in a futures contract based on an underlying commodity, the exchange having a computer operable in accordance with computer programming stored in a computer readable medium to perform the method comprising:

  • identifying, for physical delivery of the commodity, open first-nearby time positions of a particular size which were held through contract expiry, market participants having the open first-nearby time positions of the particular size being obligated to make or take physical delivery of the commodity pursuant to terms of the contract;

    matching the identified open first-nearby time positions of a particular size with other open first-nearby time positions, the other open first-nearby time positions including positions of the particular size or positions of less than the particular size;

    making additions to or subtractions from open first-nearby time positions of market participants that are less than the particular size, including making additions to the positions of less than the particular size; and

    updating an electronic database stored in electronic memory to reflect the additions or subtractions to positions of market participants.

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