Jura Pentium AG (20240273624). Systems and Methods for Administering an Exchange Traded Product (ETP) That Operates Entirely in Cryptocurrency/Blockchain simplified abstract
Systems and Methods for Administering an Exchange Traded Product (ETP) That Operates Entirely in Cryptocurrency/Blockchain
Organization Name
Inventor(s)
Ophelia Snyder of New York NY (US)
Hany Rashwan of New York NY (US)
Systems and Methods for Administering an Exchange Traded Product (ETP) That Operates Entirely in Cryptocurrency/Blockchain - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240273624 titled 'Systems and Methods for Administering an Exchange Traded Product (ETP) That Operates Entirely in Cryptocurrency/Blockchain
The abstract describes a patent application for a crypto ETP (Exchange-Traded Product) that is managed by a series of interconnected computers. The Portfolio Modeling Computer (PMC) defines the ETP and captures data for a cryptocurrency index. The Fund Administration Computer (FAC) calculates the Net Asset Value (NAV) of the underlying assets to generate a Portfolio Composite File (PCF) sent to the Order Taking Platform Computer (OTP). The Custodian Computer (CC) tracks the underlying assets held by the ETP and sends data to the FAC. The Paying Agent Settlement Computer (PASC) provides settlement on the exchange in cryptocurrency by receiving confirmation of transfers and issuing units of the ETPs.
- The PMC defines the ETP and captures data for a cryptocurrency index.
- The CC tracks underlying assets held by the ETP and sends data to the FAC.
- The FAC calculates the NAV of the underlying assets to generate a PCF sent to the OTP.
- The OTP receives and validates orders for creations and redemptions of the ETP from authorized parties.
- The PASC provides settlement on the exchange in cryptocurrency by receiving confirmation of transfers and issuing units of the ETPs.
Potential Applications: - Cryptocurrency trading platforms - Investment funds - Financial institutions
Problems Solved: - Efficient management of crypto ETPs - Accurate tracking of underlying assets - Secure settlement processes
Benefits: - Streamlined ETP management - Enhanced security and transparency - Improved efficiency in settlement
Commercial Applications: - Crypto investment products - Financial services industry - Blockchain technology market
Questions about the technology: 1. How does the patent application improve the management of crypto ETPs? 2. What are the key advantages of using interconnected computers in the ETP management process?
Frequently Updated Research: - Stay informed about the latest developments in cryptocurrency index tracking - Explore advancements in blockchain technology for financial applications.
Original Abstract Submitted
a crypto etp is administered by a portfolio modeling computer/(pmc), a fund administration computer/(fac), an order taking platform computer/(otp), a custodian computer/(cc), and a paying agent settlement computer/(pasc). the pmc defines the etp and captures data for a cryptocurrency index. the cc tracks underlying assets held by the etp, and sends the data to the fac, which calculates the nav of the underlying assets to generate a portfolio composite file/(pcf) sent to the otp. the otp receives and validates/confirms with the cc, orders for creations and redemptions of the etp from authorized parties/(aps), in exchange for the underlying assets and/or cryptocurrency. the pasc provides settlement on the exchange in cryptocurrency by: receiving confirmation from the cc of transfer of underlyings, etps or cryptocurrency from the aps to a blockchain wallet associated with the pcm; and issuing units of the etps, underlyings or cryptocurrency to the aps.
