Financial activity based on natural events
First Claim
1. A computerized method of offering for purchase, positions predicting the location of occurrence and level of severity of a future natural event resulting from a substantially continuous ongoing natural process culminating in the future natural event, comprising:
- a computer configured to contain a database including;
1) a map of geographical areas corresponding to the positions to be offered for purchase;
2) ongoing current severity of the substantially continuous ongoing natural process;
3) strike probabilities of future natural events for the geographical areas; and
4) offer prices for purchasing positions predicting future natural events in respective geographical areas, that are based at least in part on respective strike probabilities and the level of severity of the future natural event;
the computer configured to provide a graphical user interface to display the map in the graphical user interface, with user selectable portions corresponding to the geographical areas of the map;
during the substantially continuous ongoing natural process, the computer configured to electronically obtain updated data providing the basis for electronic calculations of strike probabilities of a future natural event for the geographical areas and updated current level of severity of the substantially continuous ongoing natural process; and
the computer configured to electronically make an offer price available to prospective purchasers, wherein the offer price is electronically updated in substantially real time so as to be based at least in part on an updated strike probability and an updated current level of severity of the continuous ongoing natural process, for purchasing a position predicting the occurrence and level of severity of the future natural event in a selected geographical area that is selected by the user.
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 event and, optionally, one or more secondary parameters relating to the natural 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 event. Methods and articles of manufacture are also disclosed.
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Citations
17 Claims
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1. A computerized method of offering for purchase, positions predicting the location of occurrence and level of severity of a future natural event resulting from a substantially continuous ongoing natural process culminating in the future natural event, comprising:
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a computer configured to contain a database including;
1) a map of geographical areas corresponding to the positions to be offered for purchase;
2) ongoing current severity of the substantially continuous ongoing natural process;
3) strike probabilities of future natural events for the geographical areas; and
4) offer prices for purchasing positions predicting future natural events in respective geographical areas, that are based at least in part on respective strike probabilities and the level of severity of the future natural event;the computer configured to provide a graphical user interface to display the map in the graphical user interface, with user selectable portions corresponding to the geographical areas of the map; during the substantially continuous ongoing natural process, the computer configured to electronically obtain updated data providing the basis for electronic calculations of strike probabilities of a future natural event for the geographical areas and updated current level of severity of the substantially continuous ongoing natural process; and the computer configured to electronically make an offer price available to prospective purchasers, wherein the offer price is electronically updated in substantially real time so as to be based at least in part on an updated strike probability and an updated current level of severity of the continuous ongoing natural process, for purchasing a position predicting the occurrence and level of severity of the future natural event in a selected geographical area that is selected by the user. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system for offering for purchase, positions predicting the location of occurrence and level of severity of a future natural event resulting from a substantially continuous ongoing natural process culminating in the future natural event, comprising:
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a computer configured to contain a database including;
1) a map of geographical areas corresponding to the positions to be offered for purchase;
2) ongoing current severity of the substantially continuous ongoing natural process;
3) strike probabilities of future natural events for the geographical areas; and
4) offer prices for purchasing positions predicting future natural events in respective geographical areas, that are based at least in part on respective strike probabilities and the level of severity of the future natural event;the computer configured to provide a computer update module, during the substantially continuous ongoing natural process, electronically obtaining updated data providing the basis for electronic calculation of strike probabilities of a future natural event for the geographical areas and updated current level of severity of the substantially continuous ongoing natural process; the computer configured to provide a computer interface for electronically providing a graphical user interface; the computer interface communicating with the database to display the map in the graphical user interface, with user selectable portions corresponding to the geographical areas of the map; the computer configured to provide pricing data storage communicating with the computer update module to electronically calculate and store an offer price that is electronically updated in substantially real time so as to be based at least in part on an updated strike probability and the updated current level of severity of the continuous ongoing natural process, for purchasing a position predicting the occurrence and level of severity of the future natural event in a selected geographical area that is selected by the user; the computer configured to provide a communication port for performing at least one of;
a) electronically making offer prices available to prospective purchasers, b) receiving a commitment from a prospective purchaser to purchase a position at the available offer price, predicting the occurrence and level of severity of the future natural event in the selected geographical area and c) electronically receiving notification of the reported precursor activity from a notification source that is external and verifiable, and thereafter making the notification of the reported precursor activity available to prospective purchasers via the communication port; andthe computer configured to provide a current pricing data storage electronically making available to prospective purchasers via the communication port, throughout an ongoing duration of the reported precursor activity, a series of available offer prices that are electronically updated in substantially real time so as to be based at least in part on an updated strike probability and the current level of severity of the continuous ongoing natural process, for purchasing a position predicting the occurrence and level of severity of the future natural event in the selected geographical area. - View Dependent Claims (11, 12, 13, 14, 15, 16)
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17. An article of manufacture including a non-transitory machine readable medium that is other than a signal, for causing a computer to perform a computerized method of offering for purchase, positions predicting the location of occurrence and level of severity of a future natural event resulting from a substantially continuous ongoing natural process culminating in the future natural event, comprising:
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a computer configured to contain a database including;
1) a map of geographical areas corresponding to the positions to be offered for purchase;
2) ongoing current severity of the substantially continuous ongoing natural process;
3) strike probabilities of future natural events for the geographical areas; and
4) offer prices for purchasing positions predicting future natural events in respective geographical areas, that are based at least in part on respective strike probabilities and the level of severity of the future natural event;the computer configured to provide a graphical user interface to display the map in the graphical user interface, with user selectable portions corresponding to the geographical areas of the map; during the substantially continuous ongoing natural process, the computer configured to electronically obtain updated data providing the basis for electronic calculations of strike probabilities of a future natural event for the geographical areas and updated current level of severity of the substantially continuous ongoing natural process; and the computer configured to electronically make an offer price available to prospective purchasers, wherein the offer price is electronically updated in substantially real time so as to be based at least in part on an updated strike probability and an updated current level of severity of the continuous ongoing natural process, for purchasing a position predicting the occurrence and level of severity of the future natural event in a selected geographical area that is selected by the user.
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Specification