US Patent Issued to Chicago Mercantile Exchange on June 9 for "System and method for centralized clearing of over the counter foreign exchange instruments" (Illinois, Indiana Inventors)

ALEXANDRIA, Va., June 9 -- United States Patent no. 12,651,294, issued on June 9, was assigned to Chicago Mercantile Exchange Inc. (Chicago).

"System and method for centralized clearing of over the counter foreign exchange instruments" was invented by Paul Andrew Bauerschmidt (Chicago), Dmitriy Glinberg (Northbrook, Ill.), Edward M. Gogol (Skokie, Ill.), Stephen M. Goldman (Lake Forest, Ill.), Paul I. Lichter (Batavia, Ill.), Jeffrey Robert Mitchell (Porter, Ind.), Ari L. Studnitzer (Northbrook, Ill.) and Tae Seok C. Yoo (Bartlett, Ill.).

According to the abstract* released by the U.S. Patent & Trademark Office: "The disclosed systems and methods relate to allowing trading of over the counter ("OTC") foreign exchange ("FX") contracts on a...