公开(公告)号：US07885886B1

公开(公告)日：2011-02-08

申请号：US12782073

申请日：2010-05-18

申请人： Robert J. Burns ,  Mustafa Chowdhury ,  Patricia M. Dodson ,  Cathy A. Gay ,  Marian J. Gora ,  Mark D. Hanson ,  Gary D. Kain ,  Gregory J. Parseghian ,  Cindy K. Smith ,  Robert W. Aufdenspring ,  Stanley J. Kon ,  William F. Quinn

发明人： Robert J. Burns ,  Mustafa Chowdhury ,  Patricia M. Dodson ,  Cathy A. Gay ,  Marian J. Gora ,  Mark D. Hanson ,  Gary D. Kain ,  Gregory J. Parseghian ,  Cindy K. Smith ,  Robert W. Aufdenspring ,  Stanley J. Kon ,  William F. Quinn

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/025 ,  G06Q40/06

摘要： A current mortgage price indicator futures contract (“Mortgage Futures Contract”) that can be traded on a futures exchange is described. The contracts add value over existing hedging and speculating alternatives by meeting the needs of a wide range of mortgage and mortgage-backed securities (MBS) market participants such as portfolio managers, dealers, hedgers, originators, speculators and arbitrageurs. The Mortgage Futures Contract is based upon conventional MBS and has a relatively current coupon composition, thereby resulting in risk properties that appeal to market participants more so than prior contracts based on non-conventional MBS that were not correlated to current MBS production. The Mortgage Futures Contract has a cash settlement feature designed to eliminate complicated and largely uneconomic physical delivery of the underlying security. A options contract corresponding to the Mortgage Futures Contract and that can be traded on a futures exchange is also described.

摘要翻译： 描述了可在期货交易所上市的现行按揭价格指标期货合约（“按揭期货合约”）。 这些合约通过满足各种抵押贷款和抵押担保证券（MBS）市场参与者的需求，如投资组合经理，经销商，套期保值者，发起人，投机商和套利者等，对现有套期保值和推测替代方案增值。 抵押期货合约基于常规MBS，并且具有相对较低的优惠券组合，从而导致对市场参与者的风险属性比基于非传统MBS的以前的与当前MBS生产相关的合同更为有利。 抵押贷款期货合约有一个现金结算功能，旨在消除基础安全的复杂和非常不合理的物理交付。 还描述了与抵押期货合约相对应且可在期货交易所交易的期权合约。

公开(公告)号：US07337136B1

公开(公告)日：2008-02-26

申请号：US09931404

申请日：2001-08-17

申请人： Robert J. Burns ,  Mustafa Chowdhury ,  Patricia M. Dodson ,  Cathy A. Gay ,  Marian J. Gora ,  Mark D. Hanson ,  Gary D. Kain ,  Gregory J. Parseghian ,  Cindy K. Smith ,  Robert W. Aufdenspring ,  Stanley J. Kon ,  William F. Quinn

发明人： Robert J. Burns ,  Mustafa Chowdhury ,  Patricia M. Dodson ,  Cathy A. Gay ,  Marian J. Gora ,  Mark D. Hanson ,  Gary D. Kain ,  Gregory J. Parseghian ,  Cindy K. Smith ,  Robert W. Aufdenspring ,  Stanley J. Kon ,  William F. Quinn

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/025 ,  G06Q40/06

摘要： A current mortgage price indicator futures contract (“Mortgage Futures Contract”) that can be traded on a futures exchange. The contracts add value over existing hedging and speculating alternatives by meeting the needs of a wide range of mortgage and mortgage-backed securities (MBS) market participants such as portfolio managers, dealers, hedgers, originators, speculators and arbitrageurs. The Mortgage Futures Contract is based upon conventional MBS and has a relatively current coupon composition, thereby resulting in risk properties that appeal to market participants more so than prior contracts based on non-conventional MBS that were not correlated to current MBS production. The Mortgage Futures Contract has a cash settlement feature designed to eliminate complicated and largely uneconomic physical delivery of the underlying security. An options contract corresponding to the Mortgage Futures Contract and that can be traded on a futures exchange.

摘要翻译： 当期可在期货交易所交易的按揭价格指标期货合约（“按揭期货合约”）。 这些合约通过满足各种抵押贷款和抵押担保证券（MBS）市场参与者的需求，如投资组合经理，经销商，套期保值者，发起人，投机商和套利者等，对现有套期保值和推测替代方案增值。 抵押期货合约基于常规MBS，并且具有相对较低的优惠券组合，从而导致对市场参与者的风险属性比基于非传统MBS的以前的与当前MBS生产相关的合同更为有利。 抵押贷款期货合约有一个现金结算功能，旨在消除基础安全的复杂和非常不合理的物理交付。 与按揭期货合约相对应的期权合约，可在期货交易所交易。

公开(公告)号：US07742965B1

公开(公告)日：2010-06-22

申请号：US11954991

申请日：2007-12-12

申请人： Robert J. Burns ,  Mustafa Chowdhury ,  Patricia M. Dodson ,  Cathy A. Gay ,  Marian J. Gora ,  Mark D. Hanson ,  Gary D. Kain ,  Gregory J. Parseghian ,  Cindy K. Smith ,  Robert W. Aufdenspring ,  Stanley J. Kon ,  William F. Quinn

发明人： Robert J. Burns ,  Mustafa Chowdhury ,  Patricia M. Dodson ,  Cathy A. Gay ,  Marian J. Gora ,  Mark D. Hanson ,  Gary D. Kain ,  Gregory J. Parseghian ,  Cindy K. Smith ,  Robert W. Aufdenspring ,  Stanley J. Kon ,  William F. Quinn

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/025 ,  G06Q40/06

摘要： A current mortgage price indicator futures contract (“Mortgage Futures Contract”) that can be traded on a futures exchange is described. The contracts add value over existing hedging and speculating alternatives by meeting the needs of a wide range of mortgage and mortgage-backed securities (MBS) market participants such as portfolio managers, dealers, hedgers, originators, speculators and arbitrageurs. The Mortgage Futures Contract is based upon conventional MBS and has a relatively current coupon composition, thereby resulting in risk properties that appeal to market participants more so than prior contracts based on non-conventional MBS that were not correlated to current MBS production. The Mortgage Futures Contract has a cash settlement feature designed to eliminate complicated and largely uneconomic physical delivery of the underlying security. A options contract corresponding to the Mortgage Futures Contract and that can be traded on a futures exchange is also described.

摘要翻译： 描述了可在期货交易所上市的现行按揭价格指标期货合约（“按揭期货合约”）。 这些合约通过满足各种抵押贷款和抵押担保证券（MBS）市场参与者的需求，如投资组合经理，经销商，套期保值者，发起人，投机商和套利者等，对现有套期保值和推测替代方案增值。 抵押期货合约基于常规MBS，并且具有相对较低的优惠券组合，从而导致对市场参与者的风险属性比基于非传统MBS的以前的与当前MBS生产相关的合同更为有利。 抵押贷款期货合约有一个现金结算功能，旨在消除基础安全的复杂和非常不合理的物理交付。 还描述了与抵押期货合约相对应且可在期货交易所交易的期权合约。