US Patent Issued to Chicago Mercantile Exchange on April 29 for "Computer methodology providing as-of-day volatility surface construction for pricing" (American, British Inventors)

ALEXANDRIA, Va., June 9 -- United States Patent no. 12,288,253, issued on April 29, was assigned to Chicago Mercantile Exchange Inc. (Chicago).

"Computer methodology providing as-of-day volatility surface construction for pricing" was invented by Jennifer Weng (Brooklyn, N.Y.), Ziyi Wang (Chicago), Xianqing Zou (Jersey City, N.J.), Yingwen Liu (Brooklyn, N.Y.), Shuo Liu (London) and Chenda Huang (Hoboken, N.J.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method and system are disclosed for more efficiently constructing a volatility surface. The methodology results in measurable reduction in the quantity of storage memory space needed on a computer executing the novel methodology, reduces the measurable, ...