Distributed credit control with centralized allocation

US11449936B2 · kind B2 · utility

Assignee

• Chicago Mercantile Exchange Inc. · US

Inventors

• Zachary Bonig · Skokie, US
• Matthew Morano · Tenafly, US
• Francis Bernard Bakalar · Oak Park, US
• Baris Mestanogullari · Downers Grove, US
• James Bailey · Ontarioville, US
• Frank Kmiec · Streamwood, US
• Ari Studnitzer · Northbrook, US
• Pearce Peck-Walden · Chicago, US

Key dates

• Filing date: Jun 18, 2019
• Grant date: Sep 20, 2022
• Expiry date: Jul 17, 2039

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/125
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods for controlling use of a credit pool in connection with electronic trading in a plurality of product groups via a set of match engines are described. Credit data indicative of a current magnitude of the credit pool is obtained. A plurality of allocations of the credit pool are determined, based on the credit pool, across the plurality of product groups. For each allocation of the plurality of allocations, allocation data indicative of the allocation is provided to a respective credit controller of a set of credit controllers. The respective credit controller is disposed at a respective match engine to which a respective product group of the plurality of product groups is assigned. The use of the credit pool for an incoming order in a respective product group is thus limited in accordance with the allocation data provided to the credit controller at the respective match engine.