Interface for landing position option

Abstract

To provide a weather forecast-based apparatus, a method, and a non-transitory medium for providing an interface that predicts a landing position.SOLUTION: This method includes: receiving a plurality of longitude / latitude coordinate pairs from a remote device; causing a display device to display, on a graphical user interface, data representing a binary option based on whether a storm will make landfall within a predetermined radius; causing the display device to show, on a map, a plurality of landfall probabilities; receiving a request to purchase the binary option; and determining whether a landfall position corresponds to a U.S. postal ZIP code associated with a given longitude / latitude pair in a memory.SELECTED DRAWING: Figure 2

Description

[Technical Field]

[0001] (CROSS-REFERENCE TO RELATED APPLICATIONS) This disclosure claims priority under 35 U.S.C. §119(e) to U.S. Provisional Patent Application No. 62 / 357,627, filed July 1, 2016, the contents of which are incorporated herein by reference in their entirety.

[0002] The present disclosure relates to weather forecasting, and more particularly to binary options based on weather forecasting. [Background technology]

[0003] Weather forecasts are based on quantitative data relating to the atmosphere and its current state. Predictive models can be employed to predict the approach of storms and their landfall locations. Weather forecasts allow individuals and businesses to prepare for potential property damage caused by developing storms. Summary of the Invention [Means for solving the problem]

[0004] As described above, weather forecasts may be based on quantitative data related to the atmosphere. Weather derivatives are financial instruments that can be used to manage risks associated with severe weather or unexpected weather conditions. For example, beach property owners may use weather derivatives to protect against property damage from hurricanes. However, there are no efficient computerized systems that match sellers of such derivatives with buyers. There are also no efficient computerized systems that provide buyers and sellers with multiple means to purchase or sell these derivatives. In view of the above, disclosed herein are devices and methods for trading binary options based on storm landfall forecasts. In one example, the device may include a memory, a display device, and a network interface for communicating with at least one remote device. The device may also include at least one processor that receives a plurality of longitude-latitude coordinate pairs from the remote device, generates in memory an association between a given longitude-latitude pair and each ZIP code within a predetermined radius of the given longitude-latitude pair, displays on the display device a graphical representation of a map, a circle around the given longitude-latitude pair on the map, and a radius of the circle corresponding to the predetermined radius, displays on the display device a graphical user interface including data representing a binary option based on whether a storm will make landfall within the predetermined radius, displays on the display device a plurality of landfall probabilities on the map, receives data from the graphical user interface indicative of a request to purchase the binary option, receives a storm landfall location from the remote device, and identifies whether the landfall location corresponds to a ZIP code associated with the given longitude-latitude pair in memory.

[0005] In another example, a method is provided that may include: receiving, by at least one processor, a plurality of longitude-latitude coordinate pairs from a remote device; generating, by the at least one processor, an association in memory between the given longitude-latitude pair and each ZIP code within a predetermined radius from the given longitude-latitude pair; displaying, by the at least one processor, a graphical representation of a map on a display device, a circle around the given longitude-latitude pair on the map, and a radius of the circle corresponding to the given radius; displaying, by the at least one processor, a graphical user interface on the display device with data representing a binary option, the binary option being based on whether a windstorm will make landfall within the predetermined radius; displaying, by the at least one processor, a plurality of landfall probabilities on the map; receiving, by the at least one processor, data indicative of a request to purchase the binary option via the graphical user interface; receiving, by the at least one processor, a windstorm landfall location from the remote device; and identifying, by the at least one processor, whether the storm location corresponds to a ZIP code associated with the given longitude-latitude pair in memory.

[0006] Aspects, features, and advantages of the present disclosure will be appreciated upon review of the following description of examples and with reference to the accompanying figures. The following description is not intended to limit the scope of the present application. Rather, the scope of the disclosure is defined by the appended claims and their equivalents. [Problem to be solved by the invention]

[0007] The present invention is directed to solving the problems of the background art. [Brief explanation of the drawings]

[0008] [Figure 1] 1 illustrates an example of a system according to an aspect of the present disclosure. [Figure 2] 1 illustrates an example method according to an aspect of the present disclosure. [Figure 3] 1 illustrates an example interface according to an aspect of the present disclosure. [Figure 4] 1 illustrates an example interface according to an aspect of the present disclosure. [Figure 5] 1 illustrates an example interface according to an aspect of the present disclosure. [Figure 6] 1 illustrates an example interface according to an aspect of the present disclosure. [Figure 7] 1 illustrates an example interface according to an aspect of the present disclosure. [Figure 8] 1 illustrates an example interface according to an aspect of the present disclosure. [Figure 9] 1 illustrates another example of an interface according to an aspect of the present disclosure. [Figure 10] 10 illustrates further examples of interfaces according to aspects of the present disclosure. [Figure 11] 10 illustrates further examples of interfaces according to aspects of the present disclosure. [Figure 12] 1 illustrates another example of an interface according to an aspect of the present disclosure. [Figure 13] 1 illustrates another example of an interface according to an aspect of the present disclosure. [Figure 14] 1 is an example of an interface according to an aspect of the present disclosure. DETAILED DESCRIPTION OF THE INVENTION

[0009] Some examples provide a platform for trading binary options or other financial instruments based on storm landfall locations. A binary option pays the option buyer a contract amount if the event occurs. The buyer buys the binary option from the seller at the contract price. In some examples, the binary option is based on a weather event. If the weather event occurs, the buyer is paid the contract amount. If the weather event does not occur, the seller keeps the contract price. In one example, the weather event includes a hurricane. Hurricane binary options take several forms related to the number of hurricanes, the strength of one or more hurricanes, hurricane landfall, etc. Some examples relate to the location of hurricane landfall. However, it should be understood that various examples may relate to characteristics of hurricanes and / or other weather or non-weather events.

[0010] FIG. 1 shows a schematic diagram of an exemplary computing device 101 for implementing the techniques disclosed herein. The computing device 101 may be, for example, a binary trading platform. The computing device 101 may encompass any device capable of processing instructions and sending and receiving data from other computers, including a laptop, a full-sized personal computer, a high-end server, or a network computer without local storage capabilities. The computing device 101 may include various components, such as a keyboard and mouse, and / or various other types of input devices, such as pen input, joystick, buttons, touchscreen, etc., as well as display devices, including, for example, CRT, LCD, plasma screen monitors, TVs, projectors, etc. The computing device 101 also includes a processor (not shown), which may be, for example, an application-specific integrated circuit ("ASIC"), one or more microprocessors, central processing units (CPUs), computing devices, microcontrollers, digital signal processors, graphics processing units (GPUs), or similar devices, or a combination thereof.

[0011] The computing device 101 may also include memory that may store instructions that may be retrieved and executed by the processor.

[0012] The memory may be a non-transitory computer-readable medium (“CRM”). The non-transitory CRM may include any one of many physical media, such as, for example, electronic, magnetic, optical, electromagnetic, or semiconductor media. Other specific examples of non-transitory computer-readable media include, but are not limited to, portable magnetic computer diskettes, such as floppy diskettes or hard drives, read-only memories (“ROMs”), erasable programmable read-only memories, portable compact disks, or other storage devices that may be directly or indirectly coupled to the computing device 101. The non-transitory computer-readable medium may also include any combination of one or more of the above and / or other devices. Although only one processor and one non-transitory CRM are shown in FIG. 1, the computing device 101 may actually include additional processors and memories that may or may not be stored in the same physical housing or location.

[0013] Computer device 101 may also include a network interface (not shown) for communicating with other devices 103, 105, and 107 via a network. Such a network may be a local area network ("LAN"), a wide area network ("WAN"), the Internet, or the like. The network and intervening nodes may also use a variety of protocols, including virtual private networks, local Ethernet networks, private networks using communication protocols proprietary to one or more companies, cellular and wireless networks, HTTP, and various combinations of the above. While only a few computers are depicted herein, it should be appreciated that the network may include additional interconnected computers. It should further be appreciated that computer device 101 may be an individual node in a network including multiple computers. In the example of FIG. 1, computer device or device 103 may be an authoritative information source, computer device or device 105 may be a platform used to buy binary options, and computer device or device 107 may be a platform used to sell binary options.

[0014] Instructions resident in the memory of the computing device 101 may include any set of instructions executed by a processor directly (such as machine code) or indirectly (such as a script). In this regard, the terms "instructions," "script," or "module" may be used interchangeably herein. Computer-executable instructions may be stored in any computer language or format, such as an object code or source code module. Furthermore, it should be understood that instructions may be implemented in hardware, software, or a combination of hardware and software, and that the examples provided herein are merely illustrative.

[0015] The binary options trading platform accepts information from a trusted source (e.g., a computer device or apparatus 103) to enable listing of binary options. For example, the trusted source may be a government location information database. The binary options trading platform compiles information in the database to create a ZIP code to latitude / longitude pair mapping. In one example, a binary option may be configured such that if the next hurricane that makes landfall in a certain region (e.g., the United States, the North American Atlantic coast, the East Coast of the United States, etc.) makes landfall in a certain area, the binary option will pay a contract amount to the buyer. The platform enables trading, clearing, and / or settlement of such binary options between buyers and sellers for one or more locations.

[0016] To facilitate such options, the computing device 101 may compute the various area parameters using a local storage or a remote database. Such a database may include computer registers, relational databases containing multiple tables with columns and records, XML documents, or flat files. The stored data may include sufficient information to identify the relevant information, such as numbers, descriptive text, proprietary codes, references to data stored in other areas of the same or different memory (including other network locations), or information used in functions that compute the relevant data.

[0017] Below is an example database table containing example latitude / longitude locations and their association with US ZIP codes: A landing at a latitude / longitude pair can be considered a landing in the area defined by the corresponding ZIP code. [Table 1]

[0018] A database storing the association between each possible landing location (e.g., by latitude / longitude pair) within a region and an area (e.g., by ZIP code) may be computed by computing device 101. In this example, the landing latitude / longitude pair is mapped to a set of ZIP codes with latitude / longitude centers at a distance of 75 miles from the landing latitude / longitude pair.

[0019] Data identifying ZIP code centers is available from a U.S. federal database. Data identifying coastal locations is also available from a U.S. federal database. To calculate a database of landfall locations in an affected area defined by a set of ZIP codes, the two databases are accessed and the information processed to obtain a database similar to the table above.

[0020] A database of latitude / longitude-to-ZIP code mapping may use latitude / longitude pairs at a different level of detail than that provided by a U.S. government coastal database. For example, the federal government may provide coastal locations every 500 meters, but mapping may provide latitude / longitude pairs in tenths of a degree. An algorithm may be performed on the government database data to combine multiple locations from the government database into a single latitude / longitude pair for mapping. For example, location information from the government database may be rounded, averaged, truncated, etc. to create the mapping database. In one example, each location in the government database may be rounded to one decimal place in latitude / longitude. A row is then created in the mapping database for each unique entry in the rounded government database data. This determination is performed for each government database location in the region so that the mapping database has an entry for each latitude / longitude pair within the region.

[0021] For each row in the mapping database, a latitude / longitude pair may be created. For each pair, a set of ZIP codes with centers within 75 miles of the latitude / longitude pair may be determined. A government database listing ZIP codes with center locations may be accessed. The latitude / longitude of each row may be compared to each center in the government database to determine the distance. If the distance is within 75 miles (or less), that ZIP code may be entered into the row. Once this is complete, the mapping database will have a mapping between each latitude / longitude pair and the ZIP codes with centers within 75 miles of the latitude / longitude pair. The table above shows only a small portion of the completed calculation.

[0022] This mapping database allows for listing of hurricane landfall options by ZIP code. A business owner wants to purchase a binary option to protect against loss in the ZIP code in which he or she operates. Through the platform, the business owner can purchase a hurricane landfall binary option for this particular ZIP code.

[0023] When landfall occurs, the National Weather Service or some other trusted entity may report the location of landfall as a latitude / longitude pair. The platform references this pair, i.e., 23.8N 80.5W, to determine the affected ZIP Codes. In this case, these ZIP Codes are 33001, 33036, 33050, 33051, and 33052 from the table above. Binary option contracts for these ZIP Codes pay the buyer the respective contract amount. Binary options for other ZIP Codes pay nothing to the buyer.

[0024] The above database configuration is one example of how the technology disclosed herein enhances computer functionality. This database configuration allows for quick settlement of contracts upon receipt of landing location information without additional complex and time-consuming calculations of affected areas. However, it should be understood that other examples may include other configurations, other databases, other levels of detail, etc.

[0025] A buyer may submit, via a computer device or apparatus 105, a purchase order to buy a particular binary option for a specified ZIP code. A seller may submit, via a computer device or apparatus 107, a sell order to sell the same binary option. The binary options trading platform may match the two orders. The trading platform facilitates the clearing and / or settlement of the matched orders.

[0026] Buyers and sellers may submit orders for contracts for desired ZIP Codes at desired quantities and / or prices. A matching price is determined by the platform to facilitate the transaction. Upon matching, the buyer's account stored on the platform is charged the quantity of the contract being traded multiplied by the contract value. The seller receives this amount as a credit to their account. In some instances, fees may be charged to one party, the other, or both. Any number of transactions, contract settlements, and users may be processed through the platform.

[0027] In some instances, margin must be held by the seller so that future payments are available if the seller must make payments on the contracts sold. The seller prevents the account from falling below the required margin. More information regarding margin is discussed further below.

[0028] FIG. 2 illustrates an example method that may be implemented in some examples. Some examples may include receiving location information for a region (e.g., a coastal location and / or a ZIP code center), as shown in block 202. Some examples may include using the received information to add a mapping between latitude / longitude coordinates and ZIP codes to a database, as shown in block 204. Some examples may include creating a listing for trading hurricane landfall binary options for each mapped ZIP code, as shown in block 206. Some examples may include providing information to a trading interface to facilitate trading by buyers and / or sellers, as shown in block 208. Some examples may include matching orders for selling and purchasing listed hurricane landfall binary options, as shown in block 210. Some examples may include maintaining margin limits with sellers of the options, as shown in block 212. Some examples may include receiving the latitude / longitude of the hurricane landfall, as shown in block 214. At block 216, some examples may include determining affected ZIP codes for the landing location based on a database containing the mapping. Additionally, some examples may include facilitating payments from sellers of contracts for the affected ZIP codes to buyers of those contracts, as shown at block 218.

[0029] 3-7 illustrate example interfaces that may be used in some examples. Such interfaces may be used to enable trading of hurricane landfall binary options through a platform. Such interfaces may include, but are not limited to, a web page, a desktop application, or a mobile app.

[0030] FIG. 3 illustrates an analysis interface that may be part of some examples. As shown, a user may enter a location into location bar 301. In this example, the entered location includes New York ZIP code 10019. In response to the ZIP code entry, the interface may adjust a map display 303. The map display may show an indicator 305 at the center of the entered ZIP code. The interface shows an area around the center where landfall is considered to affect the ZIP code. In the example, a circle 307 is used around the center, representing a 75-mile area around the center. A binary options contract for the entered ZIP code would pay the buyer if landfall occurred within that circle. The area shown may vary from example to example. The circle and 75-mile example are used because that area is considered to be most affected by a hurricane landfall. Some examples may have multiple areas based on hurricane category, with the area increasing as the hurricane gains strength.

[0031] The map display 303 may have several shading levels. For example, water area 309 may have a dark shading level. In the example of FIG. 3, land area 311 is not associated with any binary option listings. In this case, land area 311 may have the lightest shading level, indicating land that does not contain any binary options. A medium level of shading may be used to indicate land on which binary options are listed. In the example of FIG. 3, land area 313 may be associated with a binary option. The example of FIG. 3 includes ZIP codes that are centered within 75 miles of a specified coastal latitude / longitude pairing. As noted above, the complete list of ZIP codes may be determined from a mapping database generated by the platform as described above. The outline of each ZIP code may be determined from a federal ZIP code location database. The medium-shaded area may be determined as a collection of ZIP code outlines. The medium shading is provided by way of example only. Other ways of highlighting and / or displaying the listing of contracts may also be used.

[0032] In some examples, a user may select a ZIP code by clicking on the map display 303 (e.g., at a location with medium shading). Upon selection, a circle may be presented pointing to the landing area.

[0033] Other analytical tools may be provided, such as those described in 315. For example, current activity (e.g., wind speed, pressure, location, and / or other weather parameters of a hurricane), survey tools, past event impact tools, active and historical storm tools, zoom tools, etc. may be provided.

[0034] Figure 4 shows another example of an interface. The interface of Figure 4 is similar to that of Figure 3 in that it may be used as an analytical interface. If a trading element is added to the interface, it may also be used as a trading interface similar to those of Figures 5 and 6. Figure 4 includes a news element 401 and a ticker element 403. The new element may present weather and / or hurricanes related to news generally and / or specifically to a selected area. The ticker element may present price and / or trading information about binary options generally and / or specifically to a selected area.

[0035] FIG. 5 illustrates another example interface that may be used in some examples. The interface in FIG. 5 is shown with a map display at a higher zoom level than the examples in FIGS. 3 or 4. This example includes a news and ticker area. This example does not include analytical tools. This example includes a trading interface 501. When a user enters and / or clicks a ZIP code, a trading interface is presented, which can be added to sell and / or buy options related to the ZIP code. Without leaving the interface, a user buys and / or sells binary options for the selected ZIP code. This example trading interface is for a buy configuration to buy a contract value of $1,000 for ZIP code 34102. The buyer pays $80 for this level of contract value. The buyer selects the review button to review the confirmation interface. The user then clicks the submit button to submit the order. Other examples do not include such a review step and may submit directly without confirmation. In some examples, the buyer may change the quantity to submit an order for a higher or lower contract value. In some examples, the user may change the price to submit a buy order at a higher or lower price. In some instances, the price may be set to the current market price when a sell order is pending. Figure 6 shows an interface similar to that of Figure 5. The example of Figure 6 shows a trading interface in a sell configuration but not in a buy configuration.

[0036] 7 shows an example of yet another interface that may be used. This example includes, among other things, a ticker element, a map display, an area indicator, a center marker, analytical tools, and a trading interface. This example also includes a balance indicator showing the value of a user's account at 701. It should be appreciated that various combinations of interface elements may be used in various examples to facilitate trading and / or analysis related to landed binary options.

[0037] FIG. 8 illustrates an example method. At block 802, some examples may include accepting location information for a region. Some examples may include using the accepted information to add a mapping of latitude / longitude coordinates to ZIP codes to a database, as shown in block 804. At block 806, some examples may include determining the area covered by each of the ZIP codes in the database. Some examples may include adding a highlight of the area of ​​interest to a map element of the user interface, as shown in block 808. At block 810, some examples may include adding news to a news element of the user interface and market data to a ticker element of the user interface. At block 812, some examples may include accepting a selection of ZIP codes for the area of ​​interest based on a user clicking on the map element. Some examples, upon acceptance of the selection, add a trade element of the user interface to enable trading of landed binary options contracts for the selected ZIP code, as shown in block 814. At block 816, some examples may include accepting a trade command in response to a user's manipulation of the trade element. Some examples may include receiving a trade command and placing the order through the platform, as shown in block 818.

[0038] In some examples, a binary option may be based on the next hurricane making landfall in a certain area. The contract is not specific to a particular hurricane, but rather will trigger when the next hurricane makes landfall that affects a certain area. A hurricane that does not make landfall at all will not trigger the contract. In this way, the contract can be set up so that there is no possibility of it not settling while the hurricane continues to make landfall.

[0039] Contracts may be established for subsequent hurricanes (e.g., a second or third hurricane making landfall). Such multiple subsequent hurricane contracts may, in some instances, be listed together with the next-landfall contracts. In some instances, the subsequent listing takes effect after landfall occurs, such that only the next-landfall contracts are listed at one time.

[0040] Other configurations may include contracts that are time-limited and / or limited to specific hurricanes. Such configurations may include situations where landfall does not occur. In such scenarios, the contract price may be refunded to the buyer or retained by the seller, depending on the platform configuration.

[0041] In some instances, sellers may be required to maintain a margin balance in their account. Such a requirement may be implemented by preventing withdrawals and / or purchases that would cause the account to fall below the margin balance. Such a requirement may be implemented by preventing sales that would cause the margin balance to exceed the deposit balance.

[0042] Margin requirements may be determined based on the potential payments the seller needs to make based on all binary options contracts sold by the sale that have not yet settled. For example, if the seller owes the buyer $1,000, the seller's margin requirement is $1,000. This ensures that the seller's debt can be paid when it becomes due. After settlement of the contract (e.g., the next landing), the margin constraint for the outstanding amount may be lifted until / unless another sale is made.

[0043] The calculation of potential payments may take into account that ZIP code contracts are mutually exclusive of each other. For example, a seller sells a ZIP code in New York and a ZIP code in Florida that are involved in an upcoming landfall. These contracts would be mutually exclusive because it is unlikely that the next hurricane will make another landfall in both of these locations. In some instances, the seller may not have a margin requirement that is the sum of these potential liabilities; rather, the platform may calculate the margin requirement for the higher of the two contracts.

[0044] In some instances, to perform such calculations, the platform may calculate the highest possible payout required for a given latitude / longitude location for the next landing. For example, this may be done by summing the contract amounts that may be triggered by landings at each latitude / longitude location in the mapping database as described above. The maximum row may be calculated according to the margin requirement assigned to the seller.

[0045] In some instances where the seller is also the buyer, the margin requirement calculation may be offset by the amount the seller receives under a contract that the seller purchased and that, when activated, provides the seller with money. For example, suppose a seller is buying and selling a New York ZIP code in separate transactions. The margin requirement may be set at the amount owed for the sold contract minus the amount that would be received under the purchased contract. Such an analysis may be performed as part of the latitude / longitude mutually exclusive analysis described above to determine the landing location that will yield the maximum payout when settling the margin requirement. Other examples do not include such an offset.

[0046] In some instances, a single hurricane may make landfall twice. For example, it may come on land, then go out to sea, and then come back on land. In such situations, the platform considers only the first landfall of the hurricane. In such situations, the platform considers only the first landfall within a certain period of time (e.g., 12 hours). The platform lists post-landfall contracts that may be triggered by such subsequent landfalls. Contracts offered for subsequent landfalls may be triggered and settled by the first landfall. Subsequent contracts may be triggered and activated by subsequent landfalls. Thus, only one landfall is involved in the contract. Nevertheless, multiple contracts may be executed by a single hurricane making multiple landfalls. While examples are given relating to landfalling hurricane contracts, it should be recognized that other examples may include other events. Other events may include, for example, blizzards, storms, tornadoes, earthquakes, mudslides, floods, monsoons, typhoons, fires, etc.

[0047] It should be recognized that the examples are provided merely as non-limiting. Other examples may include different, additional, less, etc. Elements from any one embodiment may be combined with other examples in any manner or combination.

[0048] Other non-limiting examples of information The platform allows trading of binary options contracts related to the location of named tropical cyclones making landfall in the eastern half of the continental United States. A tropical cyclone is an organized, rotating system of clouds and thunderstorms that forms over tropical or subtropical waters and has low-level, enclosed circulation. Tropical cyclones are classified by the commonly used terms minor tropical cyclone, tropical storm, hurricane, and major hurricane, and whenever such a tropical cyclone achieves sustained winds of at least 39 mph, the National Hurricane Center assigns the storm a name according to a published list of names maintained by the World Meteorological Organization.

[0049] Atlantic Named Storm Landfall ("ANSL") binary option contracts feature an absolute payment to one option holder and no payment to the other. Long option holders are paid based on the landfall of a named storm in a designated area of ​​the country. Each option offers several designated landfall zones, called "hit codes," identified by U.S. ZIP Codes. There are no premiums or discounts for the various locations; each location is a separate option contract. Generally, contracts settle upon a qualifying Atlantic landfall, paying long position holders in the affected ZIP Code area $1.00 per contract and paying nothing to all other holders of the ANSL contract.

[0050] Trading of the contract is on a principle-only basis and all participants are self-clearing. All participants' risk positions are fully deposited with the Cantor Exchange in accordance with its registration order and rules.

[0051] The ANSL contract may be a cash-settled contract based on an objective determination of where a tropical cyclone will make landfall.

[0052] While each direct hit code resembles a specific "delivery point," deliverability is not a consideration in this contract. The contract also does not rely on index pricing information to determine whether a binary option is in-the-money or out-of-the-money. Rather, the contract relies on official advisories issued by the National Hurricane Center, a division of the National Weather Service, and other government agencies. These advisories are objective in nature. The term of each contract runs until the named storm makes landfall or the contract's expiration, which is generally November 30 of the listed calendar year, whichever occurs first.

[0053] The National Weather Service is a U.S. government agency that develops advisories issued by the National Hurricane Center based on objective information. Individuals cannot manipulate or distort this information. Nor can individuals influence prices on the platform by manipulating these reports. Therefore, cash settlement decisions are based on publicly available, timely information that is widely accepted as reliable and authoritative for this information. Nevertheless, if necessary in the best interest of the market, the platform may reserve the right to use other sources of information to determine landfall at its discretion. This authority may be used in the unforeseen event that a National Hurricane Center advisory is unavailable. Such secondary sources are also objective and verifiable. The platform may document such decisions. The minimum price fluctuation is 1 cent. A price band may be applied so that options are only listed at values ​​greater than 1 cent ($0.01) and less than 99 cents ($0.99).

[0054] Contracts do not have a specified delivery month. Rather, several consecutive contracts may be listed indicating the sequence of named storms that will make eligible landfalls. Eligible landfalls generally occur within 75 statute miles of the geographic center of a U.S. ZIP code and at least 12 hours after any other eligible landfall.

[0055] At least one ANSL contract will be listed for each trading day prior to November 30th of each calendar year, always corresponding to the next occurring landing. Depending on market demand, several additional contracts representing subsequent successive landings may be listed simultaneously. If no landing occurs before the expiration of the ANSL binary option, the binary option will expire on the last trading day.

[0056] The platform offers an open interest accountability level of 10,000 contracts net price for long or short positions.

[0057] The ANSL contracts are subject to mandatory liquidation on terms to be established by the Cantor Clearing House.

[0058] Clearing of ANSL Contracts will be conducted pursuant to the rules of Cantor Clearing House LP (the "Clearing House"). These Contract Rules are established pursuant to and constitute the "Contract Rules" in Rule IX-4(e) of the Platform Rules. The Platform is solely responsible for determining whether a Qualified Atlantic Landfall ("QAL") has occurred and its location, relying primarily on public advisories issued by NOAA's National Hurricane Center (NHC) as published on the website www.nhc.noaa.gov. The Platform makes no guarantees regarding the accuracy of NHC advisories and has the discretion to determine the location of a QAL using other public and private weather forecast sources when doing so in the best interest of the market. The Platform shall document the information from which it declares a QAL.

[0059] Once the NHC announces that Named Storm Atlantic has made landfall, the platform may designate such landfall as a QAL, provided the following criteria are met: (A) The storm was named prior to the time of landfall; (B) The latitude / longitude of such landfall is listed in the "Landfall" column of the mapping database; (C) This landfall occurs at least 12 hours after the previous QAL; (D) This landfall is not a correction or amendment to a previous landfall or inactive storm; and (E) The landfall occurs when there is an ANSL contract listed for trading. These requirements are non-limiting examples, and other examples may include more, different, and / or fewer requirements.

[0060] The QAL will be published on the Platform website and may include the storm name (if applicable), date, time of landfall, and latitude and longitude of landfall.

[0061] Multiple landfalls of the same named storm qualify as separate QALs, except that each successive landfall that occurs more than 12 hours after a previous landfall of the same named storm shall be for the next contract in the series. A landfall latitude / longitude point that qualifies as a QAL may be in an area that is not part of the continental United States.

[0062] After a QAL occurs, the platform may determine the affected ZIP code area by looking up the latitude / longitude of the QAL in a mapping database and identify the corresponding affected ZIP code area. Each open position with a direct hit code within the affected ZIP code area may be cash settled at a value of $1. Other direct hit codes may be settled at a value of $0. If no QAL occurs by the close of trading on the last trading day, all direct hit codes for that contract may be settled at a value of $0.

[0063] Settlement of open positions in each ANSL contract may occur after this QAL, either at the end of the first business day following each QAL, or by the last trading day if no QAL has occurred. If a QAL occurs before the last trading day, a new contract in the series may be listed.

[0064] Each ANSL contract is identified as WXANSLyyee, where "yy" corresponds to the two-digit year and "ee" is the sequential number of the ANSL contract. That is, the first ANSL contract for the 2016 season would be listed as WXANSL1601. The second ANSL contract for that season would be listed as WXANSL1602, etc. Individual contracts within such a series may be listed concurrently or consecutively at the platform's discretion.

[0065] The first trading day of the first ANSL Contract of each calendar year may be listed on the first Monday in January of such calendar year. The first trading day of each successive ANSL Contract of the series may be listed by (A) notice posted on the Platform website, or (B) the next business day after a QAL occurs if the successive contracts are not already listed. No new ANSL Contracts will be listed after November 30 of each calendar year.

[0066] The closing date for trading for each ANSL Contract in the Series will be (A) the QAL corresponding to the ANSL Contract, or (B) November 30th of the calendar year if there are no active named Atlantic Basin storms on November 30th, in which case the last trading day may be the last business day of the calendar year or the first day there are no active Atlantic Basin named storms.

[0067] Unless otherwise posted on the Platform website, regular trading in ANSL Contracts may occur from 6:30 PM ET on Sundays to 4:00 PM ET on Fridays. In some instances, trading in these Contracts may not occur between 4:00 PM ET and 6:30 PM ET on any Platform trading day.

[0068] The platform will allow trading on weekends when the following occurs: (A) a named storm is expected to make landfall in the continental United States between 4:00 PM ET on Friday and 6:30 PM ET on Sunday; (B) a Category 1 or Category 2 hurricane is within 1,000 miles of the U.S. coast or is forecasted to make landfall in the U.S. within the next seven days; or (C) a named storm of Category 3 or stronger exists in the Atlantic Basin. The platform will post on its website the times when it is open for continued trading. Trades made after 4:00 PM ET on a regular trading day may be reported along with the trades of the next regular trading day. It should be recognized that these trading hours are provided by way of example only.

[0069] The ANSL Agreement's active hit codes include those listed as part of the affected ZIP Code area in the mapping database. Modifications to the database may be posted to the platform website as needed.

[0070] No trades will be made on ANSL contracts above 99 cents ($0.99) or below 1 cent ($0.01). The minimum trade increment for each ANSL contract is 1 cent. The open interest accountability level may be a net long or short position of 10,000 contracts for each ANSL direct hit code. Initial margin may be 100% of the amount at risk for each party to each ANSL contract required by the clearing house.

[0071] The mapping database may correlate named storm landfalls in the Atlantic with corresponding in-the-money Cantor platform direct hit codes. Final settlement of the next consecutive ANSL contract will be determined by platform reference to the latitude / longitude landfall, and if such landfall is a qualifying Atlantic landfall, will settle the corresponding direct hit code listed in the mapping database at one dollar ($1.00) and settle all other direct hit codes for the contract at zero dollars ($0.00).

[0072] The Cantor Platform hit codes generally correspond to approximately 9,500 United States Postal Service ZIP codes whose geographic centers are located within 75 statute miles of a latitude / longitude point adjacent to the coasts of the U.S. Atlantic Basin, including the Atlantic Ocean, the Caribbean Sea, and the Gulf of Mexico.

[0073] In some instances, only the latitude and longitude listed in the mapping database may be used to qualify as a landfall event. Although rare, a named storm whose landfall is not listed in the database is considered an "out-of-area" landfall and is not a qualifying Atlantic landfall. Therefore, the next consecutive ANSL contract will continue trading even if no landfall occurs.

[0074] Some landing latitude / longitude points may be located in areas that are not part of the continental U.S. For example, some eligible latitude / longitude points may be located on the boundary between the Dry Tortugas, the Bahamas, and Canada. These points are included because their latitude / longitude coordinates are within 75 miles of the center of a U.S. ZIP code and are therefore considered to have a high impact on those ZIP codes.

[0075] Although ZIP Code centers are occasionally added, deleted, or redefined by the U.S. Postal Service, the relationships in the mapping database are static for each calendar year. Furthermore, any changes made by the U.S. Postal Service after January 1 of the year in which the contract is listed do not affect which direct hit code provisions are settled in-the-money for each landing within that calendar year.

[0076] Some ZIP Codes are not contiguous over a large area. Therefore, when examining these ZIP Codes with a mapping tool, they may appear to be located more than 75 miles from any latitude or longitude landfall in the Atlantic Basin. However, in such cases, the platform may determine that the center of the ZIP Code is located within 75 miles of at least one such landfall.

[0077] Some examples may include a web-based platform that provides a mix of historical, current, and forecast weather information and may also be used as a front end to an exchange, where this information assists market participants in developing weather-related strategies.

[0078] For example, binary options contracts relate to the location of tropical cyclone landfall along the Atlantic and Gulf of Mexico coasts of the United States. ANSLs are characterized by a full payout to one option holder and no payout to the other. In this case, payouts are made to long option holders based on the tropical cyclone making landfall at a specified location. Each specific option provides for several designated landfall zones, identified by U.S. government ZIP Codes and designated "direct hit codes." The National Oceanic and Atmospheric Administration's National Hurricane Center verifies each landfall event.

[0079] On average, the United States experiences approximately three eligible Atlantic landfalls in a given year. This equates to an average of 11 to 12 named storms occurring each year. In other words, approximately one in three or four named storms makes landfall in the United States. However, this number is quite variable. For example, in 2010 there were 19 named storms but none made landfall in the United States, while in 1998 there were 14 named storms and seven made landfall (one in two).

[0080] Given this variability, in some instances, sequentially identified landfalls (1, 2, 3, etc.) are used without tying a specific named storm to this sequence. Thus, contract pricing reflects primarily location-based factors and does not depend heavily on the probability of a given named storm making landfall.

[0081] For example, 12 American-style option contracts are pre-listed on January 1st (Landfall01, Landfall02, etc.) and all settle on December 31st. When done this way, all contracts are available for trading on January 1st and appear to have a regular one-year note payment period. As a result of this listing pattern, each contract will either be executed early (i.e., when it lands, as each is an American-style option) or will expire worthless on December 31st.

[0082] Additionally, given that tropical storms typically occur one after the other, with several days between each, simultaneous listing of each subsequent landfall (i.e., the next landfall and the next landfall and the next landfall and the next landfall) can adversely affect liquidity. This can result in some contracts ending out-of-the-money at the end of the year, preventing commercial users from immediately considering the next storm. Therefore, in some instances, only one contract is active at any given time during the season, with (1) automatic exercise of all open positions in all contracts as soon as possible after a landfall occurs, and (2) listing beginning as soon as possible after the previous landfall contract is settled. This creates a nontraditional listing cycle for ANSL contracts, maximizing utility by focusing liquidity on the next landfall and focusing commercial users solely on the next potential tropical storm event. For example, 2016 saw an early, active tropical storm season with tropical storms already impacting South Carolina and the west coast of Florida. Because this was an anomaly that was completely unpredictable on a historical basis, the price fluctuations for the next, next, and next landing contracts would be abnormally high, subjecting the contracts to price distortions (on a historical basis) that reduced their effectiveness in the eyes of many commercial parties. In some instances, a 75 mile radius ring may be used.

[0083] For example, Hurricane Irene (2011) and Hurricane Sandy (2012) made landfall in Little Egg Harbor, New Jersey, at 39.4N 74.4W, but neither storm was designated a hurricane by the NHC at the time of landfall. These landfalls resulted in payouts in 659 ZIP Codes, covering a population of approximately 10 million, ranging geographically from the Delaware-Maryland border (ZIP Code 19944) south to Wilmington, Delaware (ZIP Code 19801), Philadelphia and its western suburbs, Pennsylvania (ZIP Code 19444), and New Brunswick, New Jersey (ZIP Code 08902). Despite the recent severe nature of these storms, the Little Egg Harbor landfall did not result in any New York City ZIP Codes resulting in final settlements in the money. Therefore, while some examples use larger radii, such examples are based on a 150-year historical analysis and do not give disproportionate weight to these events. 75 miles can be a proxy for the affected area. The average size of an economically impactful tropical event can correspond to an area experiencing at least tropical storm-force winds (39 miles per hour or greater). Based on data dating back to 1850, tropical storm-force winds (i.e., sustained winds of 39 miles per hour or greater) have a radius from the storm center averaging 68.38 miles in the southwest quadrant to 75.90 miles in the northeast quadrant, for an average distance of 72.07 miles.

[0084] It is worth noting that each 75-mile radius contract encompasses an affected area of ​​over 17,000 square miles. If nearly half of this area is overwater, the affected land area would still exceed 8,000 square miles. Commercial users may eliminate the basis risk introduced by the 75-mile radius determination. For example, if a major windstorm (e.g., >75-mile radius) is approaching a coastal warehouse that is 90 miles from the predicted storm center, a commercial user could reposition their center of risk from their warehouse's location to a location well within the 75-mile landfall area, as described below. Some examples may include payouts that vary based on wind speed, distance from the storm center, sea level rise, and / or other parameters. This variability could occur across the entire area considered in-the-money or apply equally to all areas. Another example may include a flat payout across the affected area.

[0085] Wind speeds, along with distance from the storm center, can vary across the quadrant in which a company experiences the wind field. Hurricane-force winds average 24.08 miles from the storm center. These winds can vary between 22.67 miles in the southwest quadrant and 25.75 miles in the northeast quadrant. Similarly, 58 mph winds average 39.37 miles from the storm center and can vary between 37.92 miles in the southwest quadrant and 40.95 miles in the northeast quadrant. The greatest economic damage has historically occurred as a result of flooding rather than wind conditions. Because economic losses are necessarily unknown until the storm makes landfall, a multiplier related to distance from the storm center could undermine the usefulness of the contract.

[0086] In some instances, payouts are higher for locations in the Northeast quadrant than for locations in the Southwest quadrant because losses are generally higher in the Northeast quadrant. However, in other instances, this is not the case. Rather than crafting a contract design to account for these complex variables, in some instances, a commercial market user may use the notional size of the contract to best adjust their open position to account for these variables. For example, one market user who is in high ground or who anticipates a southwestern storm landfall may decide to obtain protection for less than full exposure, while another commercial market user located in a low-lying area or in the Northeast quadrant may choose to obtain full protection.

[0087] Some examples may include higher payouts for strong or high-category storms. Economic damage is highly correlated with storm intensity. Commercial users will sell their purchases as storm intensity increases. Some examples may use less precise location identifiers. For example, state lines, county lines, and broad geographic areas may be used. Because geopolitical boundaries rarely, if ever, coincide with storm boundaries, broad areas are too arbitrary, imprecise, or coarse to achieve maximum utility for commercial users. Contracts are based on NHC landfall data, which is presented as approximately 0.1 degrees of latitude and longitude. Roughly speaking, this corresponds to a 6-mile grid between landfall points. In some examples, commercial users can select landfall points based on latitude and longitude, covering a 75-mile radius. U.S. Postal System ZIP Codes are defined, providing an almost instantly recognizable location definition for most commercial market users. Additionally, ZIP Codes have unconventional yet easily understood place names associated with each ZIP Code, allowing for easy recognition by commercial marketers. The average ZIP Code contains over 140 landing points.

[0088] Similarly, any given landfall location has, on average, approximately 350 ZIP Codes within a 75-mile radius of impact. Fine location accuracy allows individual commercial interests to more precisely capture the impact area of ​​each storm landfall location and to customize and balance the inherent geographic risk concentration imposed by their business profile. Furthermore, the fine granularity of direct hit codes allows for effective reshaping of the broad areas mentioned above. For example, an ideal set of direct hit codes would efficiently mimic state and county boundaries and borders. While the 9488 direct hit code set is established and validated for use by commercial market participants, liquidity is (1) concentrated around several dozen major direct hit codes and (2) seamless between direct hit codes with landfall locations at highly related latitudes and longitudes. Commercial users can mitigate inland damage by re-centering their exposure to direct hit codes that were in the storm's path. For example, a warehouse located 150 miles north of the predicted landfall of a northward-moving storm might choose to purchase options south of that location and adjust the size of the purchase in proportion to the predicted damage if the storm weakens as it moves northward on land.

[0089] Some examples may include a graphical interface display of the probability of storm landfall. To generate such a display, data related to a particular storm may be measured and analyzed. For example, satellite imagery, SIP data, buoy data, coastal data, aircraft data, radar data, computer models, historical models, etc. may be used to determine the probability of storm landfall. Such determinations may be performed in real time or near real time. Figures 9, 10, and 11 show some examples of such interfaces.

[0090] Figure 9 shows an example with probability numbers at each ZIP code center. Figure 10 shows shading dots at each ZIP code center. Figure 11 shows cone shading of the area. The shading corresponds to the likelihood of landfall. Figures 10 and 11 show how color gradients are mapped to probabilities. For example, low probabilities are closer to the white gradient, medium probabilities are gray, and high probabilities are dark gradients. Probabilities can be received from a trusted source and mapped to color gradients accordingly. The mapping between colors and probabilities can be stored in a database or configured by the user.

[0091] Some examples may include contracts based on the number of named storms over a period of time (e.g., a hurricane season, a year, a decade), the number of named storms making landfall, the number of hurricanes, etc. Such contracts provide for a payout to the holder if the condition is met. For example, a contract that there will be at least five named storms will provide for a payout to the holder if there are at least five named storms. The platform receives data from a trusted source (e.g., the National Weather Service) representing the number of named storms and settles the contract accordingly. If the condition is not met, no payout is made (e.g., the seller keeps the sale price). Types of conditions may include at least, at most, more than, exactly equal, etc.

[0092] An interface may be provided to users to allow them to place orders for such contracts. Figures 12, 13, and 14 show example interfaces. The interface may include historical data representing past seasons. The interface may include forecast data for the current season. The interface may include analytical tools such as average information, probability information, etc. Users may choose to buy or sell an event and enter the parameters of their transaction through such an interface.

[0093] FIG. 12 shows an interface with multiple event types available. A user may select an event type and enter one or more parameters. In response, the user may be presented with an interface such as that of FIG. 13 through which the user can continue the transaction. For example, the user may enter price and / or other information here, which may be pre-populated with information from the previous interface. The user then completes the transaction and submits it to the exchange.

[0094] FIG. 14 illustrates an example of a sell transaction, and FIG. 13 illustrates an example of a buy transaction. A user submits an order for such a contract to the platform. The platform matches the order with other orders to sell the contract and create a trade. It should be recognized that the various examples are provided in a non-limiting sense. The various examples may be combined together in any manner.

[0095] The following sections provide guidance for interpreting this application.

[0096] I. term The term "product" means, unless otherwise specified, a machine, manufacture, and / or composition of matter.

[0097] The term "process" means a process, algorithm, method or the like, unless otherwise specified.

[0098] Each process (whether method, algorithm, or otherwise) inherently comprises one or more steps, and thus any reference to a "step" or "steps" of a process has inherent antecedent basis in the mere description of the process or the mere repetition of the word "process" or similar words. Accordingly, any reference in a claim to a "step" or "steps" of a process has sufficient antecedent basis.

[0099] The term "indication" is used in a very broad sense: a "representation" of a thing should be understood to include anything that can be used to judge that thing.

[0100] A representation of a thing may include an electronic message identifying the thing (e.g., identifying a part by a serial number affixed to the part, identifying a part by one or more characteristics of the part). A representation of a thing may include information that can be used to calculate and / or reference the thing (e.g., information that can be used to determine the part, identifying the machine of which the part is a part). A representation of a thing may specify things related to the thing (e.g., characteristics of the thing, the name of the thing, names of things related to the thing). A representation of a thing need not specify things related to the thing (e.g., the letter "a" may be a representation of a part of a computer system configured to interpret the letter "a" to identify the part). A representation of a thing may include symbols, signs, and / or representations of the thing. A representation may include, for example, codes, citations, examples, links, signals, and / or identifiers. A representation of a thing may include information that represents, describes, and / or otherwise relates to the thing.

[0101] A variation of a representation of a thing may be a representation of a thing (e.g., a representation of a thing in code is a representation of a thing). A representation of a thing may include the thing itself, a copy of the thing, and / or a portion of the thing. A representation of a thing may be meaningless to a thing that is not configured to understand the representation (e.g., a person may not understand that the letter "a" represents a part, but a computer system may nevertheless determine the part from the letter "a," so "a" may be a representation of a part). It should be understood that the fact that a representation of a thing can be used to determine a thing does not mean that the thing or anything else can be determined. A representation of a thing may include a representation of a number of things unless otherwise specified. A representation of a thing may include representations of other things (e.g., an electronic message representing many things). Representation may be used as a very broad term in claim language. One example may be receiving a representation of a financial instrument.

[0102] The word "represent" means (1) to state, designate, represent, or serve as indicating, as by words, symbols, or otherwise; (2) to represent or designate by any word, letter, sign, or otherwise; (3) to depict, paint, or present a likeness, as a picture does; or (4) to serve as a sign or symbol.

[0103] The reference to "another example" in describing an example does not imply that the example mentioned is mutually exclusive with another example (e.g., an example described before the example mentioned), unless expressly stated otherwise. Similarly, the mere fact that two (or more) examples are mentioned does not imply that these examples are mutually exclusive.

[0104] The words "including" and "comprising" and variations thereof mean "including, but not necessarily limited to," unless expressly stated otherwise. Thus, for example, the sentence "The machine includes a red part and a blue part" means that the machine includes a red part and a blue part, but may also include one or more other items.

[0105] The word "consisting of" and its variations mean "including and limited to" unless otherwise specified. Thus, for example, the statement "The machine consists of red parts and blue parts" means that the machine contains red parts and blue parts, but nothing else.

[0106] The word "compose" and its variants, unless otherwise specified, means "to form parts, components, or members." Thus, for example, the sentence "Red parts and blue parts compose a machine" means that a machine contains red parts and blue parts.

[0107] The term "exclusively compose" and its variants, unless otherwise specified, means "to exclusively form, be the only component, or be the only member of, a constituent part." Thus, for example, the sentence "The red part and the blue part exclusively compose the machine" means that the machine consists of (i.e., contains) the red part and the blue part and nothing else.

[0108] The words "a," "an," and "the" refer to "one or more" unless otherwise specified. Thus, for example, the phrase "a widget" means one or more widgets unless otherwise specified. Similarly, the phrase "a widget" followed by "the widget" means "one or more widgets." Thus, the word "the" should be understood to refer to specific terms that have antecedent basis. For example, if a paragraph states "a specific single feature" and then refers to "the feature," the phrase "the feature" should be understood to refer to the previously stated "specific single feature." (The word "a" in "a specific single feature" should be understood to refer to "one" specific single feature, not "one or more.")

[0109] The word "plurality" means "two or more" unless otherwise specified.

[0110] The term "herein" means "in this application, including anything incorporated by reference," unless otherwise specified.

[0111] The phrase "at least one of," when used to modify a plurality of items (such as an enumerated list of items), means a combination of one or more of such items, unless otherwise specified. For example, the phrase "at least one of: a part, an automobile, and a wheel" means either (i) the part, (ii) the automobile, (iii) the wheel, (iv) the part and the automobile, (v) the part and the wheel, (vi) the automobile and the wheel, or (vii) the part, the automobile, and the wheel. The phrase "at least one of," when used to modify a plurality of items, does not mean "each of" the plurality of items. For example, the phrase "at least one of: a part, an automobile, and a wheel" does not mean "one part, one automobile, and one wheel."

[0112] Numeral words such as "1" (one), "2" (two), etc., when used as cardinal numbers (e.g., one part, two parts) denoting a quantity of something, mean the amount designated by the numerical word, but not at least the amount designated by the numerical word. For example, the phrase "one part" does not mean "at least one part," and therefore the phrase "one part" does not refer to, for example, two parts.

[0113] The phrase "based on" does not mean "based only on," unless otherwise specified. In other words, the phrase "based on" covers both "based only on" and "based at least on." The phrase "based at least on" is equivalent to the phrase "based at least in part on." For example, the phrase "element A is calculated based on element B and element C" covers instances where element A is calculated as the product of B x C (in other words, A = B x C), instances where A is calculated as the sum of B + C (in other words, A = B + C), instances where A is calculated as the product of B x C x D, instances where A is calculated as the square root of B, C, and D x E, etc.

[0114] The word "represent" and similar words are not exclusive unless expressly stated otherwise. For example, the word "represent" does not mean "represents only" unless expressly stated otherwise. For example, the phrase "data represents a credit card number" covers both "data represents only a credit card number" and "data represents a credit card number and data represents something else as well."

[0115] The word "whereby" is used herein only to precede a clause or other group of words that expresses only the intended end, purpose, or consequence of something specified before the word "whereby." Thus, when the word "whereby" is used in a claim, the clause or other words that it modifies do not establish a more definitive limitation of the claim or otherwise limit the meaning or scope of the claim.

[0116] The words "e.g.," "such as," and similar words mean "for example," and therefore do not limit the word or phrase they describe. For example, in the sentence "a computer sends data (e.g., instructions, a data structure) over the Internet," the word "e.g.," explains that "instructions" are an example of "data" that a computer sends over the Internet, and also explains that "data structures" are an example of "data" that a computer sends over the Internet. However, both "instructions" and "data structures" are merely examples of "data," and things other than "instructions" and "data structures" can be "data."

[0117] The word "respective" and similar words mean "considered individually." Thus, when two or more things have "respective" characteristics, such things have unique characteristics, and these characteristics are, but need not be, distinct from one another. For example, the phrase "each of two machines has a respective function" means that the first of the two machines has a function and the second of the two machines also has a function. The function of the first machine may or may not be the same as the function of the second machine.

[0118] The word "ie" and similar words mean "that is," and thus qualify the word or phrase it describes. For example, in the sentence "A computer sends data (i.e., instructions) over the Internet," the word "ie" explains that the "instructions" are "data" that a computer sends over the Internet.

[0119] Numeric ranges include integers and non-integer numbers within the range unless otherwise specified. For example, the range "1 to 10" includes integers from 1 to 10 (e.g., 1, 2, 3, 4... 9, 10) and non-integer numbers (e.g., 1.0031415926, 1.1, 1.2... 1.9).

[0120] When two or more words or phrases are synonyms (e.g., because the words or phrases are specified as synonyms), the occurrence of one such word or phrase does not mean that another such word or phrase must have a different meaning. For example, if the description states that the meaning of "including" is synonymous with "including but not limited to," the use of the phrase "including but not limited to" alone does not mean that the word "including" means anything other than "including but not limited to."

[0121] II. Judgment The word "determining" and its grammatical variants (e.g., determining a price, determining a value, determining an item that meets certain criteria) are used in a very broad sense. The word "determining" encompasses a variety of actions, and thus "determining" can include calculating, computing, processing, deriving, examining, referencing (e.g., referencing a table, database, or other data structure), representing in an electronic format or digital representation, interpreting, and the like. Additionally, "determining" can include receiving (e.g., receiving information), accessing (e.g., accessing data in memory), and the like. Additionally, "determining" can include resolving, selecting, choosing, ascertaining, and the like.

[0122] The term "determined" does not imply certainty or absolute precision, and therefore "determined" may include estimation, extrapolation, prediction, guesswork, averaging, and the like.

[0123] The term "determine" does not imply that mathematical operations must be performed, that numerical methods must be used, or that an algorithm must be used.

[0124] The term "determining" does not imply that a particular device must be used, for example, the decision need not necessarily be performed by a computer.

[0125] The term "determine" may include "calculate." The term "calculate" should be understood to include performing one or more calculations. Calculation may include computation, processing, and / or derivation. A computing device may perform a calculation. For example, calculating something may include applying an algorithm to data by a computer processor and producing the thing as an output of the processor.

[0126] The term "determining" may include "referencing." The term "referencing" should be understood to include, for example, referring to an object one or more times. Referencing may include querying, accessing, selecting, choosing, reading, and / or referencing. A computing device may perform the act of referencing. For example, referencing an object may include reading, by a processor, a memory location where the object is stored.

[0127] The term "determining" may include "accepting." For example, accepting an item may include receiving the item. In some instances, accepting may include operations performed to receive the item, such as operating a network interface to receive the item. In some instances, accepting may be performed without operations performed to receive the item, such as direct memory writes or hardwired circuitry. Accepting an item may include receiving the item from a remote source that computed the item.

[0128] III. Sentence Format When a limitation in a first claim covers two or more features as well as one feature (e.g., a limitation such as "at least one part" covers two or more parts as well as one part), and a second claim depending from the first claim uses the definite article "the" to refer to this limitation (e.g., "the part"), this use alone does not imply that the first claim covers only one of the features. Furthermore, this does not imply that the second claim covers only one of the features (e.g., "the part" can cover both one part and two or more parts).

[0129] When an ordinal number (such as "first," "second," "third," etc.) is used before a word as an adjective, the ordinal number (unless otherwise specified) is used merely to indicate a particular feature, such as distinguishing that feature from other features described by the same or similar word, but the ordinal number does not have any other meaning or limiting effect—it is merely a label of convenience. For example, a "first part" may be named merely to distinguish it from, say, a "second part." Thus, the mere use of the ordinal numbers "first" and "second" before the word "part" does not indicate any other relationship between the two parts, nor does it indicate any other characteristic of either or both parts. For example, the mere use of the ordinal numbers "first" and "second" before the word "part" does not (1) indicate that either part is before or after any other in order of position, (2) indicate that either part occurs or acts before or after any other in time, or (3) indicate that either part ranks above or below any other in importance, quality, etc. The mere use of an ordinal number does not establish a numerical limit for the feature identified by the ordinal number. For example, the mere use of the ordinal numbers "first" and "second" before the word "part" does not indicate that there are exactly two parts.

[0130] When a single device, article, or other product is described herein, in other instances, two or more devices or articles (whether or not operating in concert) may alternatively be used in place of the single device or article described. Thus, functionality described as being provided by a device may alternatively be provided by two or more devices or articles in other instances.

[0131] Similarly, when two or more devices, articles, or other products (whether working together or not) are described herein, in another example, a single device or article may alternatively be used in place of the two or more described devices or articles. For example, multiple computer-based devices may be substituted with a single computer-based device. In some examples, such multiple computer-based devices may function together to perform a step of a process, as is common in grid computing systems. In some examples, such multiple computer-based devices may function together to perform a step of a process, as is common in cloud computing systems. (Conversely, a single computer-based device may be substituted with multiple computer-based devices working together. For example, a single computing device may be substituted with a server and workstations that communicate with each other via the Internet.) Thus, various functionality described as being provided by two or more devices or articles may alternatively be provided by a single device or article.

[0132] One or more other devices described, but not explicitly described as having such functionality or features, may alternatively embody the functionality and / or features of a single described device in another example. Thus, the other examples need not include the described device itself, but rather, these other examples may include one or more other devices having such functionality or features.

[0133] IV. The examples and terminology disclosed are not limiting Neither the Title (presented at the beginning of page 1 of this application) nor the Abstract (presented at the end of this application) shall be deemed to limit the scope of the disclosure in any way, or be used to interpret the meaning of, or limit the scope of, any claim. The Abstract is included in this application only because an abstract is required by 37 CFR 1.72(b).

[0134] The section headings provided in this application are for convenience only and should not be construed as limiting the disclosure in any way.

[0135] Numerous examples are described in this application and are presented for illustrative purposes only. The described examples are not, and are not intended to be, limiting in any way. As will be readily apparent from the disclosure, the disclosure is broadly applicable to numerous examples. Those skilled in the art will recognize that the techniques disclosed herein can be practiced with various modifications and variations, including structural, logical, software, and electrical modifications. Although particular features of the disclosure will be described with reference to one or more particular examples and / or figures, it should be understood that such features are not limited to use in one or more particular examples or figures, unless otherwise expressly stated.

[0136] While an example may be disclosed as including some features, other examples may include fewer than all of such features. Thus, for example, a claim may be directed to less than the entire set of features of a disclosed example, and such a claim should not be construed as requiring more features than those expressly recited in the claim.

[0137] Not all disclosed examples (whether pending, amended, issued, or cancelled) necessarily cover a claim. In addition, a disclosed example may (but need not) cover several claims. Thus, when a claim (whether pending, amended, issued, or cancelled) is directed to a particular example, this is not evidence that the scope of other claims does not also cover that example.

[0138] Devices described as being in communication with each other need not be in continuous communication with each other unless otherwise specified. To the contrary, such devices need only transmit to each other when necessary or desirable and, in fact, data exchange is suppressed most of the time. For example, a machine in communication with another machine over the Internet may not need to transmit data to the other machine for extended periods of time (e.g., weeks at a time). In addition, devices in communication with each other may communicate directly or indirectly through one or more intermediaries. Devices are in communication with each other if they are capable of at least one-way communication with each other. For example, a first device is in communication with a second device if it is capable of sending information to the second device. Similarly, a second device is in communication with a first device if it is capable of receiving information from the first device.

[0139] A description of an example including several components or features does not imply that all or any of such components or examples are required. On the contrary, various optional components are described to illustrate the variety of possible examples. Unless otherwise specified, no component or feature is essential or required.

[0140] Although process steps, algorithms, or the like may be described or claimed in a particular order, such processes may be configured to function in different orders. In other words, an order or sequence of steps explicitly described or claimed does not necessarily indicate a requirement that the steps be performed in that order. Steps of processes described herein may be performed in any order possible. Furthermore, some steps may be performed simultaneously, even if they are described or implied as occurring non-concurrently (e.g., because one step is described after another step). Furthermore, the description of a process by depicting it in a drawing does not imply that the described process is exclusive of other variations and modifications, nor does it imply that any of the described processes or steps are required, nor does it imply that the illustrated process is preferred.

[0141] An enumerated list of items (whether numbered or unnumbered) does not imply that any or all of the items are mutually exclusive, unless expressly stated otherwise. Similarly, an enumerated list of items (whether numbered or unnumbered) does not imply that any or all of the items are inclusive of any category, unless expressly stated otherwise. For example, an enumerated list of "computers, laptops, and PDAs" does not imply that any or all of the items in the list are mutually exclusive, nor does it imply that any or all of the items in the list are inclusive of any category. An enumerated list of items (whether numbered or unnumbered) does not imply that any or all of the items are equivalent to or easily substituted for each other.

[0142] VII. Waiver Multiple references to a particular example do not constitute a waiver or disclaimer of additional, different examples, and similarly, references to a description of examples that all include a particular feature do not constitute a waiver or disclaimer of examples that do not include that particular feature. Any express disclaimer or disclaimer in this application will be preceded by the phrase "does not include" or the phrase "cannot perform."

[0143] While the present disclosure has been described with reference to particular examples, it should be understood that these examples are merely illustrative of the principles of the disclosure. It should therefore be understood that numerous modifications may be made to the examples, and that other configurations may be devised without departing from the spirit and scope of the disclosure, as defined by the appended claims. Furthermore, although the accompanying figures may show certain processes in a specific order, such processes are not limited to that particular order unless such order is expressly set forth herein. Rather, various steps may be processed in a different order or simultaneously, and steps may be omitted or added. [Explanation of symbols]

[0144] 101 Computer Equipment 103,105,107 equipment 301 Location Bar 303 Map Display 305 indicator 307 yen 309 Water area 311,313 land area 315 Analysis Tools 401 News Elements 403 Ticker Elements 501 Transaction Interface 701 User Account

Claims

1. A device, Memory and a display device; a network interface for communicating with at least one remote device; at least one processor, receiving a plurality of longitude and latitude coordinate pairs from a remote device; generating in said memory an association between a given longitude / latitude pair and each ZIP Code within a predetermined radius of said given longitude / latitude pair; displaying on said display device a graphical representation of a map and a circle around said given longitude-latitude pair on said map, said circle's radius corresponding to said predetermined radius; displaying on the display device a graphical user interface containing data representing a binary option based on whether a storm will make landfall within the predetermined radius; Displaying a plurality of landing probabilities on the map on the display device; receiving data from the graphical user interface indicating a request to purchase the binary option; receiving the storm's landfall location from a remote device; identifying whether the landing location corresponds to a ZIP code associated with the given longitude-latitude pair in the memory; at least one processor; Equipment that encompasses.

2. The at least one processor further comprises: displaying the circle with a first shading on the display device before at least one processor receives data indicating a sell of the binary option. The device of claim 1 configured to:

3. The at least one processor further comprises: upon receipt of the data indicating a sell of the binary option, changing the circle displayed on the display device to a second shading different from the first shading; 3. The device of claim 2 configured to:

4. 2. The apparatus of claim 1, wherein the predetermined radius is 75 miles.

5. The device of claim 1 , wherein the at least one processor is further configured to vary a granularity of the plurality of longitude and latitude pairs.

6. 6. The apparatus of claim 5, wherein the at least one processor is configured to round each of the longitude and latitude pairs to change the level of detail.

7. The at least one processor further comprises: Detecting input of a ZIP code within the predetermined radius from the given longitude and latitude pair via the graphical user interface; displaying the circle around the given longitude and latitude pair on the map in response to detecting the ZIP code entered via the graphical user interface. The device of claim 1 configured to:

8. The device of claim 1 , wherein the at least one processor is further configured to display weather-related news corresponding to an area within the circle on the map.

9. receiving, by at least one processor, a plurality of longitude and latitude coordinate pairs from a remote device; generating, by the at least one processor, an association in memory between a given longitude / latitude pair and each ZIP Code within a predetermined radius from the given longitude / latitude pair; displaying, by the at least one processor, a graphical representation of a map on a display device, a circle around the given longitude-latitude pair on the map, and a radius of the circle corresponding to the predetermined radius; displaying, by the at least one processor, a graphical user interface on the display device including data representing a binary option, the binary option being based on whether a storm will make landfall within the predetermined radius; displaying, by the at least one processor, a plurality of landing probabilities on the map on the display device; receiving, by the at least one processor, via the graphical user interface, data indicating a request to purchase the binary option; receiving, by the at least one processor, the storm landfall location from a remote device; identifying, by the at least one processor, whether the landing location corresponds to a ZIP code associated with the given longitude and latitude pair in the memory; A method that encompasses

10. Furthermore, displaying, by the at least one processor, the circle with a first shading on the display device before the at least one processor receives data indicating a sell of the binary option; 10. The method of claim 9, further comprising:

11. Furthermore, changing, by the at least one processor, the circle displayed on the display device to a second shading different from the first shading in response to receipt of the data indicating the sell of the binary option; The method of claim 10, comprising:

12. 10. The method of claim 9, wherein the predetermined radius is 75 miles.

13. The method of claim 9 , further comprising varying, by the at least one processor, a level of resolution of the plurality of longitude and latitude pairs.

14. 14. The method of claim 13, wherein said varying the level of detail further comprises rounding each of said longitude and latitude pairs by said at least one processor.

15. Furthermore, detecting, by the at least one processor, input of a ZIP code within the predetermined radius from the given longitude and latitude pair via the graphical user interface; displaying, by the at least one processor, the circle around the given longitude and latitude pair on the map in response to detecting that the ZIP code has been entered via the graphical user interface; The method of claim 9, comprising:

16. 10. The method of claim 9, further comprising displaying, by the at least one processor, weather-related news corresponding to the area within the circle on the map.

17. At runtime, receiving a plurality of longitude and latitude coordinate pairs from a remote device; generating in memory an association between a given longitude / latitude pair and each ZIP Code within a given radius of said given longitude / latitude pair; displaying on a display device a graphical user interface including a map, a circle around the given longitude-latitude pair on the map, and a radius of the circle corresponding to the given radius; displaying on said display device data representing a binary option based on whether a storm will make landfall within said predetermined radius; receiving data indicating a request to purchase said binary option; receiving the storm's landfall location from a remote device; identifying whether the landing location corresponds to a ZIP code associated with the given longitude-latitude pair in the memory; A non-transitory computer-readable medium having stored thereon instructions for instructing at least one processor to:

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