PATENT CLAIM ANALYSIS

Application Number: 15876681
Application Type: Utility
Filing Date: 2018-01
Publication Date: 2018-05
Patent Classification: ["705", "037000"]

Abstract:
Methods and systems for an exchange to handle variable derivative product order prices are disclosed. The price of a derivative product order (bid or offer) is updated based on changes in the price of a related underlying product. Price determination variable(s), such as delta and gamma, are used to determine the price of the order. The exchange may periodically recalculate the price without requiring the trader to transmit additional information to the exchange.

Claim (Index 17):
A tangible computer-readable medium containing computer-executable instructions that when executed cause an exchange computer system to perform the steps comprising:\n (a) receiving an order from a computer device, wherein the order has a price that is a function of a value of an underlying financial instrument and at least one price determination variable; (b) determining new book listings for current bids and offers for the derivative product based on the order and a formula; (c) detecting a change in the underlying financial instrument price; (d) in response to detecting the change in the underlying financial instrument price, utilizing the formula and the at least one price determination variable to determine an updated value for the order price without further input from the computing device; and (e) executing a trade based on the order.

Metadata:
- Claim Count in Document: 50.0
- Percentile: 86.0
- Lexical Diversity: 1.58491
- Patent Class: 705.0
- Transitional Phrase Type: open
- Component Type: 1
- Foreign Priority: False
- Related Applications: ['10385152', '11556499', '12688467', '11953650', '12966467']

Analysis Scores:
- 35 USC 101 Eligibility (BERT): 0.1284072827510619
- 35 USC 102 Novelty (BERT): 0.5419659155358725
- Combined Prediction Score: 0.1697631460295429
- Mean Citation Score: 379.48212
- Max Citation Score: 389.77817000000016
- Similarity Product: 320.47180134086085

Labels:
- Claim Label 101: 0
- Claim Label 102: 1
- Claim Label 103: 1
- Claim Label 112: 1
- Combined Label: 0
- Label 101 Adjusted: 0

Dataset: test