US Patent Issued to Chicago Mercantile Exchange on Jan. 13 for "Transaction processor for clearing interest rate swaps with improved efficiency" (New Jersey, Illinois Inventors)

ALEXANDRIA, Va., Jan. 13 -- United States Patent no. 12,524,808, issued on Jan. 13, was assigned to Chicago Mercantile Exchange Inc. (Chicago).

"Transaction processor for clearing interest rate swaps with improved efficiency" was invented by Panagiotis Xythalis (Scotch Plains, N.J.), Jay Zhu (Livingston, N.J.), Fateen Sharaby (Hoboken, N.J.), Dhiraj Bawadhankar (Aurora, Ill.) and Molang Dong (Chicago).

According to the abstract* released by the U.S. Patent & Trademark Office: "The disclosed embodiments relate to improving the efficiency of an electronic trading system for interest rate swaps ("IRS") by allowing for IRS contracts to be funded in a base currency while the cash flows, e.g. coupon payments, price alignment interest, variation...