WO2003042779A3 - Balancing arbitragable tracking securities - Google Patents

Balancing arbitragable tracking securities Download PDF

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Publication number
WO2003042779A3
WO2003042779A3 PCT/US2002/035233 US0235233W WO03042779A3 WO 2003042779 A3 WO2003042779 A3 WO 2003042779A3 US 0235233 W US0235233 W US 0235233W WO 03042779 A3 WO03042779 A3 WO 03042779A3
Authority
WO
WIPO (PCT)
Prior art keywords
fund
country
arbitragable
balancing
shares
Prior art date
Application number
PCT/US2002/035233
Other languages
French (fr)
Other versions
WO2003042779A2 (en
Inventor
Steven M Bloom
Michael S Spector
John L Jacobs
Original Assignee
Nasdaq Stock Market Inc
Steven M Bloom
Michael S Spector
John L Jacobs
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Priority claimed from US10/001,900 external-priority patent/US7813992B2/en
Application filed by Nasdaq Stock Market Inc, Steven M Bloom, Michael S Spector, John L Jacobs filed Critical Nasdaq Stock Market Inc
Priority to AU2002353988A priority Critical patent/AU2002353988A1/en
Priority to EP02789392A priority patent/EP1446748A4/en
Publication of WO2003042779A2 publication Critical patent/WO2003042779A2/en
Publication of WO2003042779A3 publication Critical patent/WO2003042779A3/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/06—Asset management; Financial planning or analysis
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A financial product (see Fig. 1) is based on a first fund that is traded in a marketplace (16) in a first country and is registered in that country. The first fund has the characteristics of being based on an index of securities that are traded in a second different country. The first fund is arbitragable with a second fund that is based on the index and which is registered in a second country. The first fund has a basis that is the same as the second fund. The NAV of the respective funds are calculated at the same time and manner. The agent of the first fund has the option of providing or accepting second fund shares rather than cash to cover 'cash amount' obligations. Such obligations arise from the need to equate the value received or given for the first fund shares with the NAV of the first fund shares that it has issued or received.
PCT/US2002/035233 2001-11-14 2002-11-04 Balancing arbitragable tracking securities WO2003042779A2 (en)

Priority Applications (2)

Application Number Priority Date Filing Date Title
AU2002353988A AU2002353988A1 (en) 2001-11-14 2002-11-04 Balancing arbitragable tracking securities
EP02789392A EP1446748A4 (en) 2001-11-14 2002-11-04 Balancing arbitragable tracking securities

Applications Claiming Priority (4)

Application Number Priority Date Filing Date Title
US10/001,900 US7813992B2 (en) 2001-11-14 2001-11-14 Balancing arbitragable tracking securities
US10/001,900 2001-11-14
US10/077,182 US7809627B2 (en) 2001-11-14 2002-02-15 Balancing arbitragable tracking securities
US10/077,182 2002-02-15

Publications (2)

Publication Number Publication Date
WO2003042779A2 WO2003042779A2 (en) 2003-05-22
WO2003042779A3 true WO2003042779A3 (en) 2004-02-05

Family

ID=26669641

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2002/035233 WO2003042779A2 (en) 2001-11-14 2002-11-04 Balancing arbitragable tracking securities

Country Status (4)

Country Link
US (2) US7809627B2 (en)
EP (1) EP1446748A4 (en)
AU (1) AU2002353988A1 (en)
WO (1) WO2003042779A2 (en)

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* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US7809627B2 (en) * 2001-11-14 2010-10-05 The Nasdaq Omx Group, Inc. Balancing arbitragable tracking securities
US7558751B2 (en) 2003-03-14 2009-07-07 The Vanguard Group, Inc. Method of constructing a stock index
WO2006098654A1 (en) * 2005-03-15 2006-09-21 'global Energy Invest Company' S.A. System for displaying results of purchase/sales of share investment fund shares on a stock exchange
US20100257120A1 (en) * 2005-06-08 2010-10-07 Shmakov Andrey Vyacheslavovich Stock exchange trading system for mutual funds
US8255296B2 (en) 2009-06-11 2012-08-28 Interest Capturing Systems, Llc System for implementing a security issuer rights management process over a distributed communications network, deployed in a financial marketplace
US11551298B1 (en) * 2019-11-20 2023-01-10 SolidusLink AG Systems, methods, and program products for operating an exchange-traded fund

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US6278983B1 (en) * 1999-01-11 2001-08-21 Owen Edward Ball Automated resource allocation and management system

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US7571130B2 (en) * 2002-06-17 2009-08-04 Nyse Alternext Us Llc Hedging exchange traded mutual funds or other portfolio basket products
US6947901B1 (en) * 2000-04-27 2005-09-20 Hunter Ip Llc Derivative securities trading product utilizing subsets of indices or portfolios
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US7249086B2 (en) * 2001-01-11 2007-07-24 The Nasdaq Stock Market, Inc. Arbitrage of tracking securities
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Patent Citations (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6035287A (en) * 1997-12-17 2000-03-07 Omega Consulting, Inc. Method and apparatus for bundled asset trading
US6278983B1 (en) * 1999-01-11 2001-08-21 Owen Edward Ball Automated resource allocation and management system

Non-Patent Citations (1)

* Cited by examiner, † Cited by third party
Title
See also references of EP1446748A4 *

Also Published As

Publication number Publication date
US7983985B2 (en) 2011-07-19
WO2003042779A2 (en) 2003-05-22
US20110022511A1 (en) 2011-01-27
US7809627B2 (en) 2010-10-05
AU2002353988A1 (en) 2003-05-26
US20030093350A1 (en) 2003-05-15
EP1446748A4 (en) 2007-10-10
EP1446748A2 (en) 2004-08-18

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