ALEXANDRIA, Va., June 19 -- United States Patent no. 12,333,496, issued on June 17, was assigned to R3 Ltd. (London).
"Settling obligations via netting transactions" was invented by David Hudson (London).
According to the abstract* released by the U.S. Patent & Trademark Office: "A system is provided for netting obligations between entities of a cycle of obligations. Each obligation specifying a quantity of an item that a from-entity of the cycle is obligated to provide to a to-entity of the cycle. For each entity, the system determines whether the sum of its inventory of the item and the quantity of the obligation on which it is a to-entity is sufficient to satisfy the obligation on which it is a from-entity. When sufficient, the system ...