Open end mutual fund securitization process

Abstract

A mutual fund securitization process permitting the trading of open end mutual funds and linked derivative securities on or off the floor of a National securities Exchange. The targeted individual open end mutual fund or group of open end mutual funds, selected through a screening process is securitized through the creation of a new, separate security. This new security is preferably a “closed end fund of funds” and linked derivative securities, which synthetically replicate the statistical relationship of the defined individual or group of open end mutual funds. The maintenance of financial records for the new security is maintained by electronically storing dividend, capital gains and income received from the open end funds which have been invested in, and calculating pro-forma financial statements to disseminate to shareholders and all relevant parties.

52 . An electronic data processing method for administering a financial product traded as a security comprising: 
 a) creating a mutual fund comprising a plurality a selected portfolio of securities    b) receiving information on each of said one or more securities in the selected portfolio in an electronic data format;    c) processing said information to determine in real time the price of the financial product on the basis of a user-defined method of weighting the selected portfolio of securities.    
     
     
         53 . A method comprising the steps of: 
 creating an open ended mutual fund having a class of shares and a portfolio comprising of securities satisfying a predetermined criteria;    identifying a revised set of securities satisfying the predetermined criteria;    changing the securities comprising the portfolio in response to the identifying of the revised set of securities;    determining in real time the price of the financial product based on a user-defined method of weighting the securities comprising the portfolio.    
     
     
         54 . The method of  claim 53  further comprising the step of trading the outstanding class of shares on an exchange.  
     
     
         55 . The method of  claim 53  further comprising the step of listing the outstanding class of shares on an exchange.  
     
     
         56 . The method of  claim 53  further comprising the step of correlating the price of the outstanding class of shares to the price of the portfolio.  
     
     
         57 . The method of  claim 53  further comprising the step of calculating overall positions of shareholders of the outstanding class of shares.  
     
     
         58 . The method of  claim 53  further comprising the step of calculating a net asset value of the mutual fund.  
     
     
         59 . The method of  claim 53  further comprising the steps of buying and selling the outstanding shares of the mutual fund at an agreed upon price.  
     
     
         60 . The method of  claim 53  further comprising the steps of trading the outstanding shares of the mutual fund on an exchange and tracking the trades on the exchange.  
     
     
         61 . The method of  claim 53  further comprising the step of electronically trading the outstanding shares of the mutual fund.  
     
     
         62 . The method of  claim 53  further comprising the step of creating a derivative product related to the open ended mutual fund.  
     
     
         63 . The method of  claim 53  further comprising the step of clearing trades of the open ended financial product.  
     
     
         64 . A method comprising the steps of: 
 creating an open ended mutual fund having a plurality of shares and comprising of a selected portfolio of securities;    trading the shares on a securities exchange,    determining a price of the mutual fund in real time based on information about the portfolio and a user-defined method of weighting;    providing an indication of the in real time determined price of the mutual fund;    designating a revised portfolio of securities; and,    changing the securities comprising the mutual find in response to designating a revised portfolio of securities.    
     
     
         65 . The method of  claim 64  further comprising the steps of listing the shares on an exchange and trading the shares on the exchange.  
     
     
         66 . The method of  claim 64  further comprising the step of correlating the price of the shares to the price of the portfolio.  
     
     
         67 . The method of  claim 64  further comprising the step of calculating overall positions of shareholders of the shares.  
     
     
         68 . The method of  claim 64  further comprising the step of calculating a net asset value of the mutual fund.  
     
     
         69 . The method of  claim 64  further comprising the steps of buying and selling the shares of the mutual fund product at a mutually agreed upon price.  
     
     
         70 . The method of  claim 64  further comprising the steps of trading the outstanding shares of the mutual fund on an exchange and tracking the trades on the exchange.  
     
     
         71 . The method of  claim 64  further comprising the step of electronically trading the outstanding shares of the mutual fund.  
     
     
         72 . The method of  claim 64  further comprising the step of creating a derivative product related to the open ended mutual fund.  
     
     
         73 . The method of  claim 64  further comprising the step of clearing trades of the open ended mutual fund.  
     
     
         74 . An electronic data processing method for calculating the estimated price of a real time open end financial product comprising the steps of: 
 identifying a group of securities;    retrieving data representative of a group of securities and the current estimated price of each security;    storing the value of the securities in a portfolio within a computer;    allocating said portfolio value to a fixed number of shares over a predetermined period of time comprised by a real time open ended financial product;    recalculating the portfolio value in response to changes in the market value of the portfolio value;    recalculating the estimated net asset value of the real time open end financial product in response to the change in the portfolio value;    outputting an indication of the in real time determined estimated net asset value of the real time open end financial product.