Systems and methods for securitizing a commodity
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United States of America Patent
Stats
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Nov 26, 2013
Grant Date -
Mar 28, 2013
app pub date -
Nov 20, 2012
filing date -
Oct 4, 2002
priority date (Note) -
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status (Latency Note)
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Abstract
A method for creating trust shares in a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a creation order comprising a request to create the trust shares, confirming delivery into a trust account of an amount of physical commodity associated with the trust shares being requested, and releasing the requested trust shares based upon the amount of physical commodity delivered into the account. A method for redeeming trust shares associated with a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a redemption order comprising a request to redeem an amount of trust shares associated with an amount of the physical commodity held in a trust account, receiving the amount of the trust shares, and releasing from the trust account the amount of the physical commodity associated with the amount of the trust shares received.
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