CUSTOMIZING BASKETS FOR EXCHANGE-TRADED FUNDS
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United States of America Patent
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Issued Date -
Jul 2, 2015
app pub date -
Dec 27, 2013
filing date -
Dec 27, 2013
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Abstract
A fund management system permits an investor to transmit a custom creation basket of securities to the fund management system in exchange for shares of a fund. The fund management system receives an available basket of securities from the investor and a fund designated for share creation. The fund management system filters the available securities to determine securities eligible for inclusion in the fund management system. An optimization algorithm determines a quantity of securities that maximizes the utility of adding the securities to the fund, which generates a custom creation basket. The fund management system may receive available baskets from multiple investors and a designation of multiple funds. The fund management system thus may generate a multi-party and multi-fund optimized custom creation basket.
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