Patent ID: 11915317
Assignee: NYSE CHICAGO, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A system comprising:
one or more servers in communication with a member computer via a communications network interface, the one or more servers comprising at least one processor and a memory storing computer-readable instructions executable by the at least one processor, the member computer associated with an account and comprising a graphical user interface (GUI),
the at least one processor of the one or more servers configured to:
store, in the memory, open ended mutual fund (OEMF) data related to an OEMF and OEMF futures contract (FC) data relating to an OEMF FC,

the member computer configured to:
send, to the one or more servers, via the communications network interface, a first electronic message responsive to user input via the GUI, the first electronic message comprising a request for an election for an optional OEMF FC physical settlement (PS) of a requested number of shares defining a final position, and

the at least one processor of the one or more servers further configured to:
determine, responsive to receiving the first electronic message, whether the first electronic message is timely and the request meets at least one predetermined condition,
upon determining that the first electronic message is timely and the request meets the at least one predetermined condition:
generate and send an electronic order to redeem the requested number of shares to a third party computer system,
send a second electronic message comprising information relating to the electronic order to the member computer, and
display, via the GUI, the information relating to the electronic order on the member computer, and

otherwise, terminate the request upon determining that the first electronic message is untimely and the request fails to meet the at least one predetermined condition.