US 12,340,417 B2
Derivative contracts that settle based on transaction data
Ryan Pierce, Chicago, IL (US); Mansoor Ahmed, Naperville, IL (US); and John Plante, Chicago, IL (US)
Assigned to Chicago Mercantile Exchange Inc., Chicago, IL (US)
Filed by Chicago Mercantile Exchange Inc., Chicago, IL (US)
Filed on Sep. 20, 2022, as Appl. No. 17/948,641.
Application 17/948,641 is a continuation of application No. 17/169,688, filed on Feb. 8, 2021, granted, now 11,488,245.
Application 17/169,688 is a continuation of application No. 15/199,131, filed on Jun. 30, 2016, granted, now 10,949,922, issued on Mar. 16, 2021.
Prior Publication US 2023/0016699 A1, Jan. 19, 2023
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/00 (2023.01); G06Q 20/38 (2012.01); G06Q 40/04 (2012.01); G06Q 50/18 (2012.01)
CPC G06Q 40/04 (2013.01) [G06Q 20/381 (2013.01); G06Q 50/18 (2013.01); G06Q 2220/00 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A computer system comprising:
a processor configured to:
electronically monitor, via a virtual currency network, transaction data for a plurality of transactions for a virtual currency processed by the virtual currency network and stored on a blockchain;
determine, automatically based on the monitored transaction data, a network utilization of the virtual currency network indicative of a transaction processing time for each of the plurality of transactions, wherein an increase in the network utilization is indicative of an increase in the transaction processing time and a reduction in a capacity of the virtual currency network to process transactions and a decrease in the network utilization is indicative of a decrease in the transaction processing time and an increase in the capacity of the virtual currency network to process transactions;
determine, based on the network utilization, a value of a financial instrument held by one or more participants;
generate a minimum requirement for the one or more participants based at least partially on the value of the financial instrument;
determine whether an amount of funds on an account with a clearinghouse computer, coupled with the processor, for a participant of the one or more participants is below or exceeds the minimum requirement; and
one of credit or debit the account of the participant based on the determination that the amount of funds on the account is below or exceeds the minimum requirement.