Patent ID: 8655765

Claim:
A method for trading and holding one or more positions in an exchange-listed financial instrument in the form of an Exchange Traded Fund (ETF), for which a net asset value is calculated at or after a specified time, wherein said trading occurs on or away from an exchange and among parties comprising an administrator that receives orders from a customer to buy or sell said financial instrument priced relative to the net asset value, comprising: using a computer to handle orders from at least one customer to buy or sell said financial instrument at prices determined from a set of prices that are specified relative to the net asset value, said set of prices including (i) a first price that is at a specified discount to the net asset value; (ii) a second price that is equal to the net asset value; and (iii) a third price that is at a specified premium to the net asset value; wherein said using a computer to handle orders includes at least one of (i) accumulating the orders; (ii) periodically offsetting said buy orders against said sell orders; and (iii) entering at least one of a buy or a sell order for said financial instrument on or away from an exchange for execution at said prices; and using a computer to offer services to said customer comprising at least one of (a) accepting orders and pricing transactions at said prices; (b) denominating orders and executions in said customer's choice of at least one of currency, whole shares or units of said financial instrument, and fractional shares or units of said financial instrument; and (c) position keeping in whole and fractional shares or units of said financial instrument; and using a computer to submit said executed trades for settlement or holding.