Patent ID: 7680725

Claim:
A computer implemented method of arbitrage of shares in a first fund that is traded on a first marketplace in a first country and shares in a second fund that is traded on a second, different marketplace in a second different country, the method comprising: electronically causing by a computer a buy of a creation unit basis of second fund shares on the second marketplace; electronically causing by a computer redemption of the second fund shares for a creation unit basket of stock plus or minus a cash amount tied to the next calculated NAV of the second fund; and causing delivery of the creation unit basket stock redeemed from the second fund, plus or minus a cash amount that is related to the next calculated net asset value of the first fund, to a first fund issuer, to cover shares initially sold in the first fund in the first country, with shares in the first fund are based on a creation unit basket of securities having a basis that is substantially the same basis as a creation unit basis of securities for shares in the second fund that are traded on the second marketplace in the different country than that of the first fund, and with the shares in the first fund having a net asset value that is determined at substantially the same time that the net asset value of the shares in the second fund is determined to effect the arbitrage.