Canadian Patents Database / Patent 2203279 Summary

Third-party information liability

Some of the information on this Web page has been provided by external sources. The Government of Canada is not responsible for the accuracy, reliability or currency of the information supplied by external sources. Users wishing to rely upon this information should consult directly with the source of the information. Content provided by external sources is not subject to official languages, privacy and accessibility requirements.

Claims and Abstract availability

Any discrepancies in the text and image of the Claims and Abstract are due to differing posting times. Text of the Claims and Abstract are posted:

  • At the time the application is open to public inspection;
  • At the time of issue of the patent (grant).
(12) Patent Application: (11) CA 2203279
(54) English Title: METHODS AND APPARATUS RELATING TO THE FORMULATION AND TRADING OF RISK MANAGEMENT CONTRACTS
(54) French Title: PROCEDES ET APPAREILS DESTINES A L'ETABLISSEMENT ET A LA NEGOCIATION DE CONTRATS DE GESTION DES RISQUES
(51) International Patent Classification (IPC):
  • G06Q 10/00 (2012.01)
  • G06Q 40/04 (2012.01)
  • G06Q 40/00 (2012.01)
(72) Inventors (Country):
  • SHEPHERD, IAN KENNETH (Australia)
(73) Owners (Country):
  • ALICE CORPORATION PTY LTD (Australia)
(71) Applicants (Country):
  • SHEPHERD, IAN KENNETH (Australia)
(74) Agent: BLAKE, CASSELS & GRAYDON LLP
(45) Issued:
(86) PCT Filing Date: 1995-12-07
(87) PCT Publication Date: 1996-06-13
Examination requested: 2002-11-01
(30) Availability of licence: N/A
(30) Language of filing: English

(30) Application Priority Data:
Application No. Country Date
PM9922 Australia 1994-12-07
PN4060 Australia 1995-07-07

English Abstract






The formulation of
multi-party risk management
contracts is described. An
ordering party (13) inputs, by
a data processing device (51),
contract data representing an
offered contract in a predetermined
phenomenon, the phenomenon
having a range of possible
outcomes at a time of maturity,
and the contract data specifying
the same entitlement for each
outcome due to the ordering party
at maturity and a consideration
due to a counterparty. The
potential counterparties (14) input,
by data processing means (51),
registering data relating to the
range of possible outcomes for
the predetermined phenomenon.
An offered contract is priced by
data processing apparatus (20)
by the steps of calculating a
counter consideration from each
counterparty's registering data
and comparing the ordering party
consideration with the calculated
counter considerations. A match
is made on the basis of the
comparison.


French Abstract

Une formulation de contrats de gestion de risques multipartie est divulguée. Une partie demanderesse (13) introduit, à l'aide d'un dispositif de traitement de données (51), des données représentant un contrat offert en rapport avec un phénomène prédéterminé, ce phénomène ayant plusieurs résultats possibles au moment de sa maturité et les données spécifiant les mêmes droits aux prestations pour la partie demanderesse à l'échéance pour chaque résultat et une redevance dû à une contrepartie. Les contreparties potentielles (14) introduisent, au moyen du dispositif de traitement de données (51), des données d'enregistrement portant sur la gamme des résultats possibles pour le phénomène prédéterminé en cause. Le contrat offert est valorisé par un appareil de traitement de données (20) qui calcule une contreredevance à partir des données introduites par chaque contrepartie et en comparant la redevance de la partie demanderesse avec les contreredevances calculées. On procède à un rapprochement en se basant sur le résultat de cette comparaison.


Note: Claims are shown in the official language in which they were submitted.


- 51 -

CLAIMS:

1. A data processing system to enable the formulation of multi-party risk
management contracts, the system comprising:
input means by which an ordering party can input contract data representing an
offered contract for a predetermined phenomenon, the phenomenon having a future
range of possible outcomes at a time of maturity, and said contract data specifying the
same entitlement for each said outcome due to the ordering party and a consideration
due to a counterparty, and at least one counterparty can input registering data for said
predetermined phenomena; and
data processing means for pricing and matching contracts from said contract
data and said registering data, said pricing including calculating a counter consideration
from each said registering data, and said matching including comparing said
consideration with each said counter consideration to match an offered contract with at
least one of said counterparties.

2. A data processing system as claimed in claim 1, wherein said
registering data for each possible outcome is the counterparty assessed probability of
that outcome eventuating at maturity.

3. A data processing system as claimed in claim 1 or claim 2, wherein
the contract match is made with the counterparty having the counter consideration
having the greatest difference between it and the specified consideration.

4. A data processing system as claimed in claim 1, wherein the
entitlement is due at maturity.


- 52 -

5. A method to enable the formulation of multi-party risk management
contracts, the method comprising the steps of:
(a) inputting to data processing apparatus, by input means, ordering data
contract data representing an offered contract for a predetermined phenomenon, the
phenomenon having a range of possible outcomes at a time of maturity, said contract
data specifying the same entitlement for each said outcome due to the ordering party
and a consideration due to a counterparty;
(b) inputting to said data processing apparatus, by input means,
counterparty registering data relating to the range of possible outcomes for said
predetermined phenomenon; and
(c) pricing and matching the offered contract, by the data processing
apparatus, comprising the steps of:
(i) calculating a counter consideration from each counterparty registering
data;
(ii) comparing said consideration with each said counter consideration;
and
(iii) matching the contract on the basis of the comparison.

6. A method as claimed in claim 5, comprising the further step of
payment of the consideration by the matched counterparty to the ordering party on
matching of the contract.

7. A method as claimed in claim 5 or claim 6, comprising the further
step of payment of the entitlement by the ordering party to the counterparty on maturity
of the contract.


- 53 -

8. A method as claimed in any one of claims 5 to 7, whereby the step of
matching includes selecting the counterparty having the counter consideration having
the greatest difference between it and the specified consideration.

9. A method as claimed in any one of claims 5 to 8, wherein said
registering data is the assessed probability of occurrence of each possible outcome, and
whereby said counter consideration is calculated by the summation over all possible
outcomes of the product of the respective entitlement and the assessed probability.

10. A data processing system to enable the formulation of multi-party risk
management contracts, the system comprising:
input means by which an ordering party can input contract data specifying an
entitlement due to the ordering party and a consideration due to a counterparty, both the
entitlement and the consideration being due on match of a contract, and at least one
counterparty can input counter considerations for the contract relevant to a range of
possible entitlements; and
data processing means for matching a contract from said consideration and the
counter consideration for the specified entitlement by comparing said consideration with
each said counter consideration to match an offered contract with at least one of said
counterparties.

11. A data processing system as claimed in claim 10, wherein the contract
match is made with the counterparty having the counter consideration having the
greatest difference between it and the specified consideration.

12. A data processing system as claimed in either one of claims 10 or 11,
wherein the contract matures on matching.





- 54 -

13. A method to enable the formulation of multi-party risk management
contracts, the method comprising the steps of:
(a) inputting to data processing apparatus, by input means, ordering party
contract data specifying an entitlement due to the ordering party and a consideration
due to a counterparty, both the entitlement and the consideration due on match of a
contract;
(b) inputting to said data processing apparatus, by input means,
counterparty counter considerations for the contract relevant to a range of possible
entitlements; and
(c) matching the offered contract, by the data processing apparatus,
comprising the steps of:
(i) comparing said consideration with said counter consideration for the
specified entitlement; and
(ii) matching the contract on the basis of the comparison.

14. A method as claimed in claim 13, whereby the step of matching
includes selecting the counterparty having the counter consideration having the greatest
difference between it and the specified consideration.

15. A method as claimed in either one of claims 13 or 14, comprising the
further step of the contract maturing on match.

16. A data processing system to enable the management of risk by the
formulation of risk management contracts, the system comprising:
data input means by which participating parties can input data concerning at
least one predetermined phenomenon, each phenomenon having a range of possible
outcomes and a future time of maturity, and





- 55 -

data processing means, coupled to each input means, for pricing and matching
contracts between participating parties, and wherein each contract is priced andmatched on the basis of offering data specifying entitlements due at maturity for the
range of possible outcomes for one or more of said phenomena, and registering data of
the likelihood of each outcome in said predetermined range of outcomes at maturity for
one or more of said phenomena, said offering data and said pricing data being derived
from said participating party data.

17. A data processing system as claimed in claim 16, wherein said
participating party data includes an attitude and/or objective to said one or more
phenomena.

18. A data processing system as claimed in claim 16 or 17, wherein said
participating party data further includes offering data and/or pricing data.

19. A method for enabling the management of risk by the formulation of
risk management contracts, the method comprising the steps of:
participating parties inputting, by at least one data input means, data
concerning at least one predetermined phenomenon, each said phenomenon having a
range of future outcomes and a future time of maturity; and
pricing and matching contracts between participating parties, by data
processing means, whereby each contract is priced and matched on the basis of offering
data specifying entitlements due at maturity for the range of possible outcomes for one
or more of said phenomena, and registering data of the likelihood of each outcome in
said predetermined range of outcomes at maturity for one or more of said phenomena,
said offering data and said pricing data being derived from said participating party data.





- 56 -

20. A method as claimed in claim 19, whereby said participating party
data includes an attitude and/or objective to said one or more phenomena.

21. A method as claimed in claims 19 or 20, whereby said participating
party data further includes offering data and/or pricing data.

22. A data processing system to enable the formulation of multi-party risk
management contracts, the system comprising:
input means by which an ordering party can input contract data representing an
offered contract for a predetermined phenomenon, the phenomenon having a future
range of possible outcomes at a time of maturity, and said contract data specifying the
same entitlement for each said outcome due to the ordering party, and at least one
counterparty can input registering data for said predetermined phenomena; and
data processing means for pricing and matching contracts from said contract
data and said registering data, said pricing including calculating a consideration due to
the counterparty from each said registering data, and said matching including
comparing said considerations to match an offered contract with at least one of said
counterparties.


23. A data processing system as claimed in claim 22, wherein only those
counterparty considerations that satisfy a threshold consideration specified by the
ordering party are compared.

24. A method to enable the formulation of multi-party risk management
contracts, the method comprising the steps of:
(a) inputting to data processing apparatus, by input means, ordering data
contract data representing an offered contract for a predetermined phenomenon, the
phenomenon having a range of possible outcomes at a time of maturity, said contract


- 57 -

data specifying the same entitlement for each said outcome due to the ordering party;
(b) inputting to said data processing apparatus, by input means,
counterparty registering data relating to the range of possible outcomes for said
predetermined phenomenon; and
(c) pricing and matching the offered contract, by the data processing
apparatus, comprising the steps of:
(i) calculating a consideration due to each counterparty from each
counterparty registering data;
(ii) comparing said calculated considerations;
and
(iii) matching the contract on the basis of the comparison.

25. A method as claimed in claim 24, whereby the step of comparing
further includes accepting only those counterparty considerations that satisfy a threshold
consideration specified by the ordering party.


Sorry, the requested images are unavailable. Please try again in a few minutes and contact us  if the problem persists.

For a clearer understanding of the status of the application/patent presented on this page, the site Disclaimer , as well as the definitions for Patent , Administrative Status , Maintenance Fee  and Payment History  should be consulted.

Admin Status

Title Date
(86) PCT Filing Date 1995-12-07
(87) PCT Publication Date 1996-06-13
(85) National Entry 1997-04-21
Examination Requested 2002-11-01
Dead Application 2014-12-09

Payment History

Fee Type Anniversary Year Due Date Amount Paid Paid Date
Filing $150.00 1997-04-21
Maintenance Fee - Application - New Act 2 1997-12-08 $50.00 1997-10-08
Registration of Documents $100.00 1998-02-25
Maintenance Fee - Application - New Act 3 1998-12-07 $100.00 1998-11-17
Maintenance Fee - Application - New Act 4 1999-12-07 $100.00 1999-11-16
Maintenance Fee - Application - New Act 5 2000-12-07 $150.00 2000-11-24
Maintenance Fee - Application - New Act 6 2001-12-07 $150.00 2001-11-23
Request for Examination $400.00 2002-11-01
Maintenance Fee - Application - New Act 7 2002-12-09 $150.00 2002-11-19
Maintenance Fee - Application - New Act 8 2003-12-08 $150.00 2003-11-21
Registration of Documents $100.00 2004-09-30
Maintenance Fee - Application - New Act 9 2004-12-07 $200.00 2004-11-30
Maintenance Fee - Application - New Act 10 2005-12-07 $250.00 2005-11-17
Reinstatement - failure to respond to examiners report $200.00 2006-01-26
Maintenance Fee - Application - New Act 11 2006-12-07 $250.00 2006-11-22
Corrective payment/Section 78.6 $200.00 2007-01-31
Maintenance Fee - Application - New Act 12 2007-12-07 $250.00 2007-11-13
Reinstatement - failure to respond to examiners report $200.00 2008-07-07
Maintenance Fee - Application - New Act 13 2008-12-08 $250.00 2008-11-20
Maintenance Fee - Application - New Act 14 2009-12-07 $250.00 2009-11-23
Maintenance Fee - Application - New Act 15 2010-12-07 $450.00 2010-11-15
Maintenance Fee - Application - New Act 16 2011-12-07 $450.00 2011-11-23
Maintenance Fee - Application - New Act 17 2012-12-07 $450.00 2012-11-22

To view selected files, please enter reCAPTCHA code :



Sorry, the requested images are unavailable. Please try again in a few minutes and contact us  if the problem persists.