US5983204A
Expired / Lapsed
US
⏱️ 0.0 years remaining
System and method for supporting a new financial instrument for use in closed end funds
Assignee: Americus Shareowner Service Corp
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Filing: 1997-09-25
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Granted: 1999-11-09
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Expires: 2017-09-25
Abstract
Abstract A data processing system for supporting a new financial instrument known as a Put Ratio Equity Protection ("PREP") used in closed end funds. The data processing system provides computer means for brokers and fund managers to effectuate all transactions pertaining to PREPs and the creation of PREP certificates.
Inventors
- 👤 A. Joseph Debe
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-06 17:30
CPC Classifications
G; G06; G06Q; G06Q40/00; G06Q40/04; G06Q40/06
Claims Analysis
Total Claims: 6
Claim 1
Independent Claim
100 words
A data processing system for supporting a Put Ratio Equity Protection ("PREP") financial instrument, said system comprising: (a) a broker's computer means for processing requests of customers to purchase at least one share of a closed end fund and a corresponding PREP having a given Exercise Ratio; (b) a broker's communication means for communicating the requests to a fund manager; (c) a fund manager's computer means for processing the requests and generating a PREP certificate bearing indicia representative of at least the Exercise Ratio; and (d) a fund manager's communication means for communicating the PREP certificate to the respective customers.
Claim 2
Dependent Claim
100 words
A data processing system for supporting a Put Ratio Equity Protection ("PREP") financial instrument, said system comprising: (a) a broker's computer means for processing requests of customers to purchase at least one share of a closed end fund and a corresponding PREP having a given Exercise Ratio; (b) a broker's communication means for communicating the requests to a fund manager; (c) a fund manager's computer means for processing the requests and generating a PREP certificate bearing indicia representative of at least the Exercise Ratio; and (d) a fund manager's communication means for communicating the PREP certificate to the respective customers.
Claim 3
Dependent Claim
82 words
A data processing system for supporting a Put Ratio Equity Protection ("PREP") financial instrument, said system comprising: (a) a fund manager's computer means for processing requests of customers to purchase at least one share of a closed end fund and a corresponding PREP having a given Exercise Ratio, said fund manager's computer means capable of generating a PREP certificate bearing indicia representative of at least the Exercise Ratio; (b) a fund manager's communication means for communicating the PREP certificate to the customer.
Claim 4
Dependent Claim
82 words
A data processing system for supporting a Put Ratio Equity Protection ("PREP") financial instrument, said system comprising: (a) a fund manager's computer means for processing requests of customers to purchase at least one share of a closed end fund and a corresponding PREP having a given Exercise Ratio, said fund manager's computer means capable of generating a PREP certificate bearing indicia representative of at least the Exercise Ratio; (b) a fund manager's communication means for communicating the PREP certificate to the customer.
Claim 5
Dependent Claim
173 words
A data processing system for supporting a Put Ratio Equity Protection ("PREP") financial instrument, said system comprising: (a) a broker's computer means for processing requests of customers to sell on a given sale date at least one share of a closed end fund and a corresponding PREP having a given Exercise Ratio; (b) a broker's communication means for communicating the requests to a fund manager; (c) a fund manager's computer means for determining the product of the Exercise Ratio and the closed end fund's Net Asset Value per share for the sale date, and for comparing said product to the closed end fund's share price on the sale date to determine whether a higher sale price results from exercising the PREP or selling shares of the closed end fund at the shares' price on the sale date; and (d) a fund manager's communications means for communicating to a transfer agent instructions to either exercise the PREP certificate or sell shares of the closed end fund at the shares' price on the sale date.
Claim 6
Dependent Claim
173 words
A data processing system for supporting a Put Ratio Equity Protection ("PREP") financial instrument, said system comprising: (a) a broker's computer means for processing requests of customers to sell on a given sale date at least one share of a closed end fund and a corresponding PREP having a given Exercise Ratio; (b) a broker's communication means for communicating the requests to a fund manager; (c) a fund manager's computer means for determining the product of the Exercise Ratio and the closed end fund's Net Asset Value per share for the sale date, and for comparing said product to the closed end fund's share price on the sale date to determine whether a higher sale price results from exercising the PREP or selling shares of the closed end fund at the shares' price on the sale date; and (d) a fund manager's communications means for communicating to a transfer agent instructions to either exercise the PREP certificate or sell shares of the closed end fund at the shares' price on the sale date.
References Cited (Backward Citations)
US5101353A
Cited
US5202827A
Cited
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2002-11-08 | 2003-05-10 | 2003-11-09 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2006-11-08 | 2007-05-10 | 2007-11-09 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2010-11-08 | 2011-05-10 | 2011-11-09 | $7700.00 | Window Closed / Lapsed |