System, method, and computer program product for valuating weather-based financial instruments
US6418417B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 8, 1998 |
| Grant date | Jul 9, 2002 |
| Priority date | — |
| Expiry date | Oct 8, 2018 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for valuating weather-based financial instruments including weather futures, options, swaps, and the like. The system includes weather forecast, weather history, and financial databases. Also included in the system is a central processing trading server that is accessible via a plurality of internal and external workstations. The workstations provide a graphical user interface for users to enter a series of inputs and receive information (i.e., output) concerning a financial instrument. The method involves collecting the series of inputs—start date, maturity date, geographic location(s), risk-free rate, and base weather condition—affecting the value of the financial instrument and applying a pricing model modified to account for weather.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.