TRADE-TIME CREDIT CHECK SYSTEM AND METHODS
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United States of America Patent
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Issued Date -
Sep 24, 2015
app pub date -
Mar 19, 2015
filing date -
Mar 20, 2014
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Abstract
System and methods for performing trade-time credit checks to guarantee the availability of credit to clear and settle trades for market participants are disclosed. In one embodiment, an order to buy or sell an amount of a financial instrument is received by the system. The system then determines an amount of a credit support financial instrument available for the market participant. The credit support financial instrument is a synthetically created financial instrument that is issued on an exchange for a market participant. The system then determines whether the amount of the credit support financial instrument available is enough to cover the order and if so, the system executes the order. The system then depletes the amount of the credit support financial instrument available for a subsequent trade by the amount of the executed trade to reflect the reduction in availability of credit for subsequent trades.
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