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 8):
A method comprising:\n (a) receiving, by an exchange computer system and from a computing device, an order for a derivative product, 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, by the exchange computer system and based on the order and a formula, new book listings for current bids and offers; (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 to determine by the exchange computer system and based in part on the at least one price determination variable, an updated value for the order price without further input from the computing device; and (e) executing, by the exchange computer system, a trade based on the order received in (a).

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): 0.1282957712976581
- 35 USC 102 Novelty (BERT): 0.5422055972611035
- Combined Prediction Score: 0.1696867538940026
- Mean Citation Score: 379.48212
- Max Citation Score: 389.77817000000016
- Similarity Product: 327.249212310142

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