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Exchange trading of mutual funds or other portfolio basket products

  • US 7,970,687 B2
  • Filed: 03/23/2001
  • Issued: 06/28/2011
  • Est. Priority Date: 03/27/2000
  • Status: Active Grant
First Claim
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1. A system for producing a hedging basket of securities for an actively managed fund on an exchange comprising:

  • a connection to a communications network; and

    a computer system including a processor, a memory executing computer instructions and a storage storing a computer program product with instructions extract factor information from the actively managed fund by the computer system and apply factor analysis to the extracted factor information producing the hedging basket of securities, where the hedging basket of securities tracks the actively managed fund closely enough over the course of a trading day that a trader manages investment risk in the actively managed fund and the hedging basket of securities does not reveal the fund assets, and the fund assets are not disclosed to the trader; and

    where the computer system sends the factor information or the hedging basket of securities to the trader.

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