US 12,229,831 B2
Exchange for physicals
Benoit Andre Lamour, London (GB); and Anais Fabienne Christiane Dony, Vincennes (FR)
Assigned to LIFFE Administration and Management, London (GB)
Filed by LIFFE Administration and Management, London (GB)
Filed on Aug. 13, 2024, as Appl. No. 18/802,358.
Application 18/802,358 is a continuation of application No. 18/635,401, filed on Apr. 15, 2024, granted, now 12,100,047.
Application 18/635,401 is a continuation of application No. 18/405,540, filed on Jan. 5, 2024, granted, now 11,989,782, issued on May 21, 2024.
Application 18/405,540 is a continuation of application No. 18/455,055, filed on Aug. 24, 2023, granted, now 11,900,461, issued on Feb. 13, 2024.
Application 18/455,055 is a continuation of application No. 18/118,489, filed on Mar. 7, 2023, granted, now 11,783,419, issued on Oct. 10, 2023.
Application 18/118,489 is a continuation of application No. 17/684,741, filed on Mar. 2, 2022, granted, now 11,636,545, issued on Apr. 25, 2023.
Application 17/684,741 is a continuation of application No. 17/234,909, filed on Apr. 20, 2021, granted, now 11,308,558, issued on Apr. 19, 2022.
Application 17/234,909 is a continuation of application No. 17/064,839, filed on Oct. 7, 2020, granted, now 11,017,473, issued on May 25, 2021.
Application 17/064,839 is a continuation of application No. 14/341,078, filed on Jul. 25, 2014, granted, now 10,832,323, issued on Nov. 10, 2020.
Claims priority of provisional application 61/861,297, filed on Aug. 1, 2013.
Prior Publication US 2024/0403960 A1, Dec. 5, 2024
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/04 (2012.01)
CPC G06Q 40/04 (2013.01) 16 Claims
OG exemplary drawing
 
1. A non-transitory computer-readable medium storing program instructions that, when executed by one or more processors, cause the one or more processors to perform the functions of:
matching, based on one or more priority rules, an order stored in an order book with a counter order stored in the order book to create a matched order having an exchange for physicals (EFP) price, the matched order comprising futures contracts for securities to be exchanged and shares in the securities to be exchanged;
automatically determining a value of a first leg of the matched order based on a price and a quantity of the futures contracts for the securities to be exchanged;
automatically determining a value of a second leg of the matched order based on a price and a quantity of the shares in the securities to be exchanged by:
continuously monitoring one or more live index values that fluctuate according to market movement, and
continuously generating a new price for the shares in the securities to be exchanged that closely matches current market pricing by modifying a price of at least one underlying component of the securities based on, at least, the continuously monitored one or more live index values, wherein each of the at least one underlying component of the securities comprises a respective number of shares;
continuously monitoring a difference between the value of the first leg and the value of the second leg; and
once the difference is equivalent to the EFP price, simultaneously executing the first leg and the second leg.