API framework for clearing non-deliverable interest rate swaps

US12307523B2 · kind B2 · utility

Assignee

• Chicago Mercantile Exchange Inc. · US

Inventors

• Dhiraj Bawadhankar · Aurora, US
• Panagiotis Xythalis · Chicago, US
• Jingbin Yin · Naperville, US
• Molang Dong · Chicago, US
• Fateen Sharaby · Hoboken, US
• Romil Parekh · Northbrook, US
• Jalpan Shah · Chicago, US

Key dates

• Filing date: Oct 17, 2023
• Grant date: May 20, 2025
• Expiry date: Jan 18, 2044

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods are provided for a clearing framework for clearing a non-deliverable interest rate swap. The clearing framework includes an application programming interface (API) including functions for processing trade messages including information used by a clearing house computing system in clearing non-deliverable interest rate swaps; one or more user interface screens comprising information corresponding to one or more non-deliverable interest rate swaps and one or more user interface screens comprising information of cleared interest rate swaps, one an API for reporting clearing information, wherein the one or more functions comprise a first messaging function to confirm clearing of the one or more non-deliverable interest rate swaps and a second messaging function to request consent to clear the one or more non-deliverable interest rate swaps.