US 12,443,991 B2
Minimization of the consumption of data processing resources in an electronic transaction processing system via selective premature settlement of products transacted thereby based on a series of related products
Agha Irtaza Mirza, New York, NY (US); Edmund Carey, Chicago, IL (US); and Frederick Sturm, Chicago, IL (US)
Assigned to Chicago Mercantile Exchange Inc., Chicago, IL (US)
Filed by Chicago Mercantile Exchange Inc., Chicago, IL (US)
Filed on Mar. 31, 2021, as Appl. No. 17/218,757.
Application 17/218,757 is a continuation of application No. 15/959,536, filed on Apr. 23, 2018, granted, now 10,997,656.
Claims priority of provisional application 62/593,646, filed on Dec. 1, 2017.
Prior Publication US 2021/0217090 A1, Jul. 15, 2021
Int. Cl. G06Q 40/04 (2012.01)
CPC G06Q 40/04 (2013.01) 21 Claims
OG exemplary drawing
 
11. A system comprising:
a processor;
a non-transitory memory communicatively coupled with the processor, the memory storing instructions, that when executed, cause the processor to:
identify, automatically, data indicative of a financial instrument that is currently available for trading and characterized by a first duration and a first expiration date and stored in a database coupled with the processor, for settlement prior to the first expiration date;
determine data indicative of two or more other financial instruments currently available for trading and stored in the database and having consecutive expiration dates, one of which is the same as the first expiration date, and a duration which is less than the first duration;
derive, based on the determined data indicative of the two or more other financial instruments, a final settlement price for the financial instrument in advance of the first expiration date, the derivation compensating for the settlement occurring earlier than the first expiration date; and
settle, based on the derived final settlement price, all open positions in the identified financial instrument, and causing cessation of trading thereof wherein the data indicative thereof is removed from the database reducing an amount of data stored therein.