Patent ID: 6941280
Filing Date: 2005-09-06
Classification: G06Q

Abstract:
1. A method using a computer readable medium for allowing the trading of shares of actively managed exchange traded funds comprising the steps of determining an intra-day net asset value proxy for the actively managed exchange traded fund by: electronically receiving a file having adjusted portfolio security position information in the actively managed exchange traded fund in an encrypted format; decrypting the file having the adjusted portfolio information to provide the security positions in the actively managed exchange traded fund portfolio; checking the file having the adjusted portfolio information by: electronically calculating a value of the portfolio based on the closing prices of the securities in the adjusted portfolio as of the previous trading day, and comparing the calculated value of the portfolio based on the closing prices of the securities in the portfolio as of the previous trading day and known adjustments with a published net asset value of the portfolio as of the close of the previous trading day; and electronically calculating the intra-day net asset value proxy for the actively managed exchange traded fund by applying prices received from a quote feed to the security positions in the actively managed exchange traded fund portfolio; wherein the security positions of the actively managed exchange traded fund are kept confidential.