Security receipts management system
View Patent ↗A computer system for managing, creating, and support of a novel investment instrument, known as a Security Receipt. This receipt provides translation of ownership of plural underlying securities to the holder of the receipt in a seamless and efficient way. The system permits enhanced security creation, and orderly support to facilitate liquidity and market trading of the Security Receipt.
1. A system for managing one or more Security Receipts, each said Security Receipt evidencing a beneficial interest in a plurality of pre-existing underlying securities, said securities including at least two securities associated with entities independent of each other, the system comprising:
a computer system with associated memory for storing data relating to the underlying securities, including data regarding a Trust holding said underlying securities, and the one or more Security Receipts;
wherein said computer system is operable to manage transactions associated with said Security Receipts, said transactions comprising one or more of:
issuance of said one or more Security Receipts having said beneficial interest, based on said underlying securities;
acceptance of a deposit of said underlying securities in exchange for one or more newly issued Security Receipts; and
cancellation of one of said one or more Security Receipts in exchange for said underlying securities.
2. The system of claim 1 , wherein the underlying securities for said Security Receipt have a common characteristic.
3. The system of claim 1 , further comprising means for trading Security Receipts.
4. The system of claim 1 , further comprising means permitting an owner of a Security Receipt to vote an underlying security.
5. The system of claim 1 , further comprising means for distributing a dividend granted or other distribution with respect to a security underlying a Security Receipt to the owner of the Security Receipt.
6. A system as in claim 1 , wherein said underlying securities comprise a plurality of stocks, wherein a first stock in said plurality of stocks represents ownership rights in a first company and a second stock in said plurality of stocks represents ownership rights in a second company, and wherein said first company and said second company are not part of and have never been part of the same company.
7. A system as in claim 1 , wherein said underlying securities comprise stock in a plurality of separate companies within a particular industry, said separate companies not being part of and never having been part of the same company.
8. A system as in claim 1 , wherein said underlying securities comprise a plurality of securities, wherein a first security in said plurality of securities provides first ownership rights and a second security in said plurality of securities provides second ownership rights, and said first and second ownership rights are not and have never been identical.
9. A system as in claim 1 , wherein said beneficial interest comprises the same rights, privileges, and obligations as exist regarding beneficial ownership of individual securities of said underlying securities.
10. A system as in claim 1 , wherein said beneficial interest comprises the right to vote common stock of at least one company corresponding to an individual security of said underlying securities.