Exchange trading of mutual funds or other portfolio basket products

Abstract

Embodiments include systems and methods for initiating and completing transactions related to actively managed exchange traded funds (AMETFs). In some embodiments, the identities of securities in a first set of securities are publicly disclosed, and a valuation for the first set of securities is generated based on a second set of securities. In some embodiments, the second set of securities may have the same identities as those of the first set of securities. In some embodiments, the second set of securities has weightings configured such that the second set of securities overlaps the first set of securities by a threshold amount. In some embodiments, the second set of securities includes a disclosed basket of products that make up a portfolio but that disguises weightings. Transactions may be initiated and completed based on the valuation of the first set of securities as determined by the second set of securities.

1 . A computer-implemented system for improved initiation of transactions in a first set of securities comprising:
 a first computer system having non-transitory memory storing computer software and at least one processor executing the computer software; and   a second computer system having non-transitory memory storing computer software and at least one processor executing the computer software, wherein the second computer system is communicatively coupled to the first computer system,   wherein the first computer system is further configured to:
 publicly disclose a first set of identities associated with the first set of securities, the first set of securities further comprises a first set of weightings not publicly disclosed, and 
   wherein the second computer system is further configured to:
 determine, based on the public disclosure of the first set of identities, a second set of securities having a second set of identities and a second set of weightings, 
 generate, based on the determined second set of securities, a valuation for the first set of securities by applying prices corresponding to the second set of identities received from a quote feed associated with the second set of identities in accordance with respective weightings of the second set of identities as indicated by the second set of weightings; and 
 automatically initiate at least one transaction via the first computer system related to the first set of securities based on the generated valuation, 
   the first computer system being further configured to:
 complete at least one transaction involving one or more securities in the first set of securities in response to the initiated at least one transaction. 
   
     
     
         2 . The system of  claim 1 , wherein the second set of identities is identical to the first set of identities. 
     
     
         3 . The system of  claim 1 , wherein the second set of identities is distinct from the first set of identities. 
     
     
         4 . The system of  claim 1 , wherein the second set of weightings is distinct from the first set of weightings. 
     
     
         5 . The system of  claim 1 , wherein the second computer system is configured to determine the second set of weightings by applying a random value for each entity in the second set of weightings to a respective entity in the first set of weightings. 
     
     
         6 . The system of  claim 1 , wherein the valuation is an intra-day net asset value proxy. 
     
     
         7 . The system of  claim 1 , wherein the at least one initiated transaction is a hedge, a redemption, or a creation. 
     
     
         8 . The system of  claim 1 , wherein the first computer system is configured to complete the at least one transaction by adjusting one or more weightings in the first set of weightings corresponding to the one or more securities. 
     
     
         9 . The system of  claim 1 , wherein the first computer system is configured to publicly disclose the first set of identities by transmitting an electronic notification to one or more users of the first computer system. 
     
     
         10 . A computer-implemented method for improved initiation of transactions in a first set of securities comprising:
 publicly disclosing, by a first computer system, a first set of identities associated with the first set of securities, the first set of securities further comprising a first set of weightings not publicly disclosed,   wherein the first computer system has non-transitory memory storing computer software and at least one processor executing the computer software;   determining, by a second computer system, a second set of securities, based on the public disclosure of the first set of identities, wherein the second set of securities comprises a second set of identities and a second set of weightings,   wherein the second computer system has non-transitory memory storing computer software and at least one processor executing the computer software, and the second computer system is communicatively coupled to the first computer system;   generating, by the second computer system, a valuation for the first set of securities based on the determined second set of securities, said generation further comprising applying prices corresponding to the second set of identities received from a quote feed associated with the second set of identities in accordance with respective weightings of the second set of identities as indicated by the second set of weightings;   automatically initiating, by the second computer system, at least one transaction on the first computer system related to the first set of securities based on the generated valuation,   completing, by the first computer system, at least one transaction involving one or more securities in the first set of securities in response to the at least one initiated transaction.   
     
     
         11 . The method of  claim 10 , wherein the second set of identities is identical to the first set of identities. 
     
     
         12 . The method of  claim 10 , wherein the second set of identities is distinct from the first set of identities. 
     
     
         13 . The method of  claim 10 , wherein the second set of weightings is distinct from the first set of weightings. 
     
     
         14 . The method of  claim 10 , further comprising:
 determining, by the second computer system, the second set of weightings by applying a random value for each entity in the second set of weightings to a respective entity in the first set of weightings.   
     
     
         15 . The method of  claim 10 , wherein the valuation is an intra-day net asset value proxy. 
     
     
         16 . The method of  claim 10 , wherein the at least one initiated transaction is a hedge, a redemption, or a creation. 
     
     
         17 . The method of  claim 10 , wherein completing of the at least one transaction further comprises adjusting one or more weightings in the first set of weightings corresponding to the one or more securities. 
     
     
         18 . The method of  claim 10 , wherein publicly disclosing further comprises transmitting an electronic notification to one or more users of the first computer system.