System and method of implementing massive early terminations of long term financial contracts

  • US 8,010,441 B2
  • Filed: 09/15/2009
  • Issued: 08/30/2011
  • Est. Priority Date: 11/24/1999
  • Status: Expired due to Term
First Claim
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1. A system for creating a proposal concerning OTC (Over the Counter) derivatives trade-related data regarding OTC derivative trades already entered into between trading parties in order to reduce a number of outstanding OTC derivative trades or reduce total outstanding notional amounts of the outstanding OTC derivative trades, the system comprising:

  • at least one processing apparatus and an optional central server connected to a network interconnecting the at least one processing apparatus and the optional central server,wherein the at least one processing apparatus of a party involved in at least one of the OTC derivative trades, or the optional central server, is arranged to receive trade-related data, for transactions carried out between the trading parties, through the network, andwherein the at least one processing apparatus or the optional central server includes a processor operable to generate an early termination proposal including packages of existing OTC transactions, which are acceptable to all involved parties to terminate prior to their maturity dates, according to parameters set respectively by the involved parties.

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