IP Library Granted Patent US 10,803,069
Granted Patent B2
US 10,803,069 · App. 15/192,203 · Granted Oct 13, 2020

Dynamic valuation system using object relationships and composite object data

Inventors: Seo Wook Jang (Chicago, IL); Jeon Ho Cho (Chicago, IL); Bo Miao (Chicago, IL); Cham Hong Po (Chicago, IL); Yaotian Zhang (Jersey City, NJ); Panagiotis Xythalis (Chicago, IL); Matthew Morano (Chicago, IL)
Assignee: Chicago Mercantile Exchange Inc.
G06F16/24578G06F16/2246G06Q40/04
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Quick Facts
Patent No.
US 10,803,069
App. No.
15/192,203
Granted
Oct 13, 2020
Kind
B2
Abstract

The disclosed embodiments relate to systems and methods for generating an optimal solution for determining a value for one or more base data objects. A plurality of solutions include one or more composite data objects transacted by a transaction system processor. The composite data objects include the one or more base data objects. An optimal solution is generated by using data indicative of a level of activity and a number of sources for each of the plurality of composite data objects.

Claims (39)

1. A computer implemented method for determining, from a set of composite data objects transacted by a transaction system processor wherein each composite data object of the set comprises a subset of a set of base data objects stored in a memory, an optimal subset of the set of composite data objects to be used to determine a value for a particular base data object of the set of base data objects, the method comprising:

identifying, by a processor in communication with the memory, from the set of base data objects, a core data object therein, the core data object including object value data corroborated by a plurality of external sources;

generating, by the processor based on the set of composite data objects and storing in the memory, a plurality of subsets of composite data objects, each subset comprising at least a first composite data object including the particular base data object and a second composite data object including the core data object, each of the plurality of composite data objects in the plurality of subsets having an object relationship from the particular base data object to the core data object and having a value as a whole that is related to the value of the base data objects that comprise each of the plurality of composite data objects in the plurality of subsets;

receiving, from the transaction system processor, data indicative of a level of activity and a number of sources for each of a plurality of composite data objects in the plurality of subsets;

deriving a ranking value indicative of a level of confidence in the data for each of the plurality of subsets of composite data objects based on the number of sources and the data indicative of the level of activity for each of the plurality of composite data objects in the plurality of subsets;

selecting, by the processor and storing in the memory, the optimal subset of the plurality of subsets based on the ranking value; and

calculating, by the processor, the value of the particular base data object as a function of the optimal subset.

2. The computer implemented method of claim 1 , wherein each of the plurality of subsets include a different combination of composite data objects.

3. The computer implemented method of claim 1 , wherein the set of composite data objects comprise a set of exchange offered composite data objects.

4. The computer implemented method of claim 1 , wherein the number of sources is a number of broker marks for each of the plurality of composite data objects.

5. The computer implemented method of claim 1 , wherein the data indicative of the level of activity comprises a revenue value for each of the plurality of composite data objects.

6. The computer implemented method of claim 1 , further comprising:

receiving, by the processor, updated data indicative of the level of activity and an updated number of sources for each of a plurality of composite data objects in the plurality of subsets; and

deriving an updated ranking value for the subsets based on the updated number of sources and the updated data indicative of the level of activity.

7. The computer implemented method of claim 1 , wherein the plurality of subsets of composite data objects include only one core data object.

8. The computer implemented method of claim 1 , further comprising:

removing from the memory, the plurality of subsets of composite data that are not the optimal subset.

9. A computer system configured to select from a set of composite data objects transacted by a transaction system processor and stored in a memory, an optimal subset of composite data objects used to determine a value for a base data object, the computer system comprising:

an identification processor, coupled to the memory, configured to identify from the set of base data objects, a core data object therein, the core data object including object value data corroborated by a plurality of external sources;

a solutions module, coupled to the identification processor and the memory, configured to generate and store in the memory from the set of composite data objects a first subset of composite data objects comprising at least a first composite data object including the particular base data object and a second composite data object including the core data object, each of the plurality of composite data objects in the first subset having an object relationship from the particular base data object to the core data object and having a value as a whole that is related to the value of the base data objects that comprise each of the plurality of composite data objects in the first subset;

the solutions module further configured to generate and store in the memory from the set of composite data objects a second subset of composite data objects comprising at least a third composite data object including the particular base data object and a fourth composite data object including the core data object, each of the plurality of composite data objects in the second subset having an object relationship from the particular base data object to the core data object and having a value as a whole that is related to the value of the base data objects that comprise each of the plurality of composite data objects in the second subset;

a receiver, coupled to the solutions module, configured to receive from the transaction system processor, data indicative of a level of activity and a number of sources for each of a plurality of composite data objects in the first subset and second subset of composite data objects;

an evaluator, coupled to the receiver and solutions module, configured to derive a ranking value indicative of a level of confidence in the data for the first and second subsets of composite data objects based on the number of sources and the data indicative of the level of activity for each of the plurality of composite data objects in the first subset and second subset of composite data objects; and

the evaluator further configured to select and store in the memory either the first subset or second subset based on the ranking value.

10. The computer system of claim 9 , wherein the data indicative of the level of activity comprises revenue data for each of the plurality of composite data objects.

11. The computer system of claim 9 , wherein the data indicative of the level of activity comprises open interest data for each of the plurality of composite data objects.

12. The computer system of claim 9 , wherein the solutions module is further configured to generate from the set of composite data objects a third subset of composite data objects comprising at least a fifth composite data object including the base data object and a sixth composite data object including a second core data object; the receiver is further configured to receive from the transaction system processer, data indicative of a level of activity and a number of sources for each of a plurality of composite data objects in the third subset of composite data objects; and the evaluator is further configured to derive a ranking value for the third subset based on the number of sources and the data indicative of the level of activity; and select either the first subset, second subset, or third subset based on the ranking value.

13. The computer system of claim 9 , wherein the receiver is further configured to receive updated data indicative of the level of activity and an updated number of sources for each of a plurality of composite data objects in the first and second subsets; and the evaluator is further configured to derive an updated ranking value for the subsets based on the updated number of sources and the updated data indicative of the level of activity.

14. A computer system configured to select from a set of composite data objects transacted by a transaction system processor, an optimal subset of composite data objects used to determine a value for a base data object, the computer system comprising:

means for identifying from the set of base data objects, a core data object therein, the core data object including object value data corroborated by a plurality of external sources;

means for generating from the set of composite data objects a first subset of composite data objects comprising at least a first composite data object including the particular base data object and a second composite data object including the core data object, each of the plurality of composite data objects in the first subset having an object relationship from the particular base data object to the core data object and having a value as a whole that is related to the value of the base data objects that comprise each of the plurality of composite data objects in the first subset;

means for generating from the set of composite data objects a second subset of composite data objects comprising at least a third composite data object including the particular base data object and a fourth composite data object including the core data object, each of the plurality of composite data objects in the second subset having an object relationship from the particular base data object to the core data object and having a value as a whole that is related to the value of the base data objects that comprise each of the plurality of composite data objects in the second subset;

means for receiving data indicative of a level of activity and a number of sources for each of a plurality of composite data objects in the first subset and second subset of composite data objects;

means for scoring the first subset and the second subset using the plurality of values;

means for deriving a ranking value indicative of a level of confidence in the data for the first and second subsets of composite data objects based on the number of sources and the data indicative of the level of activity for each of the plurality of composite data objects in the first subset and second subset of composite data objects;

means for selecting and storing in the memory either the first subset or the second subset based on the ranking value; and

means for calculating the value of the base data object as a function of the selected subset.

15. The computer system of claim 14 wherein the data indicative of a level of activity comprises revenue values for each of the plurality of composite objects.

16. The computer system of claim 14 , wherein the data indicative of a level of activity comprises open interest values for each of the plurality of composite objects.

Assignments (2)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Sep 11, 2020
From: ZHANG, YAOTIAN
To: CHICAGO MERCANTILE EXCHANGE INC.
Reel/Frame 053749/0473 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Jun 24, 2016
From: JANG, SEO WOOK; CHO, JEON HO; MIAO, BO; PO, CHAM HONG; XYTHALIS, PANAGIOTIS; MORANO, MATTHEW
To: CHICAGO MERCANTILE EXCHANGE INC.
Reel/Frame 039153/0633 →
Continuity (1)
Related Publication 20170371879A1 · Dec 28, 2017