Interface for Landing Location Option

Abstract

To provide an appliance, a method and a non-temporary medium for wagering on weather prediction.SOLUTION: An appliance receives from a remote device, a plurality of longitude / latitude coordinate pairs, displays on a display unit, a map in which a plurality of landing probabilities is indicated, displays on the display unit, a graphical user interface including data which indicates a binary option based on whether storm lands in a prescribed radius displayed on the display unit, then receives a request for purchasing the binary option through the graphical user interface, then determines whether the landing position corresponds to a 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 on July 1, 2016, the content of which is hereby incorporated by reference in its entirety into this application.

[0002] This disclosure relates to weather forecasting, and more particularly to binary options based on weather forecasting.

Background Art

[0003] Weather prediction is based on quantitative data related to the atmosphere and its current state. Prediction models can be employed to predict the approach and landfall location of a storm. By weather prediction, individuals and corporations can prepare for potential physical damage caused by an ongoing storm.

Summary of the Invention

Means for Solving the Problems

[0004] As described above, weather forecasts can be based on quantitative data related to the atmosphere. A weather derivative is a financial product that can be used to manage risks associated with adverse weather or unexpected weather conditions. For example, an owner of beach assets can use weather derivatives for protection against physical damage caused by hurricanes. However, there is no efficient computerized system for matching sellers of such derivatives with buyers. There is also no efficient computerized system that provides buyers and sellers with diverse means of purchasing or selling these derivatives. In view of the above, disclosed herein are devices and methods for trading binary options based on storm landfall predictions. In one example, the device can include a memory, a display device, and a network interface that communicates with at least one remote device. The device receives a plurality of longitude-latitude coordinate pairs from the remote device, generates in the memory an association between a given longitude-latitude pair and each ZIP code within a predetermined radius from the given longitude-latitude pair, displays on the display device a graphical representation of a map, a circle around a 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 that includes 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 from the graphical user interface data indicating a request to purchase a binary option, receives the landfall location of the storm from the remote device, and can also include at least one processor that identifies whether the landfall location corresponds to the ZIP code associated with the given longitude-latitude pair in the memory.

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

[0006] The aspects, features, and advantages of the present disclosure will be appreciated upon consideration of the following description of the examples and the accompanying drawings. The following description does not limit the present application. Rather, the scope of the disclosure is defined by the appended claims and their equivalents.

Problems to be Solved by the Invention

[0007] The present invention is for solving the problems of the background art.

Brief Description of the Drawings

[0008]

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Mode for Carrying Out the Invention

[0009] Some examples provide a platform for trading binary options or other financial products based on the landfall location of a storm. A binary option pays the option buyer the contract amount if an event occurs. The buyer purchases 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 retains the contract price. In one example, the weather event includes a hurricane. A hurricane binary option can take several forms related to the number of hurricanes, the intensity of one or more hurricanes, the landfall of a hurricane, etc. Some examples are related to the landfall location of a hurricane. However, it should be understood that various examples can be related to the characteristics of a hurricane and / or other weather or non-weather events.

[0010] FIG. 1 shows a schematic diagram of an exemplary computer device 101 for implementing the technology disclosed in the present application. The computer device 101 can be, for example, a binary trading platform. The computer device 101 can include devices capable of processing instructions and transmitting and receiving data to other computers, including laptops, full-size personal computers, high-end servers, or network computers without local storage capabilities. The computer device 101 can include various components, such as a keyboard and mouse, and / or other various types of input devices such as pen input, joystick, buttons, touch screen, etc., and a display device including, for example, a CRT, LCD, plasma screen monitor, TV, projector, etc. The computer device 101 also includes a processor (not shown) that can be, for example, an application-specific integrated circuit (ASIC), one or more microprocessors, a central processing unit (CPU), a computing device, a microcontroller, a digital signal processor, a graphics processing unit (GPU), or a similar device or a combination thereof.

[0011] The computer device 101 may also include a memory capable of storing instructions. These instructions may be retrieved and executed by a 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 disks such as floppy disks and hard drives, read-only memory (「ROM」), erasable programmable read-only memory, portable compact disks, or other storage devices that may be directly or indirectly coupled to the computer device 101. The non-transitory computer-readable medium may also include any combination of one or more of the foregoing and / or other devices. Although only one processor and one non-transitory CRM are shown in FIG. 1, the computer device 101 may actually include additional processors and memories that may or may not be stored in the same physical housing or location.

[0013] The computer device 101 may also include a network interface (not shown) for communicating with other devices 103, 105, 107 via a network. Such a network can be a local area network ("LAN"), a wide area network ("WAN"), the Internet, etc. The network and intervening nodes can also use various protocols including virtual private networks, local Ethernet (registered trademark) networks, private networks using communication protocols dedicated to one or more enterprises, cellular and wireless networks, HTTP, and various combinations of the above. Although only a few computers are depicted in the present application, it should be recognized that the network can include additional interconnected computers. It should be further recognized that the computer device 101 can be an individual node in a network including a number of computers. In the example of FIG. 1, the computer device or apparatus 103 is a reliable information source, the computer device or apparatus 105 is a platform used to buy binary options, and the computer device or apparatus 107 can be a platform used to sell binary options.

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

[0015] The binary option trading platform can receive information from a reliable source (such as computer device or apparatus 103) to enable the creation of a list of binary options. For example, the reliable source can be a government location information database. The binary option trading platform edits the information in the database to create a latitude / longitude pair mapping of ZIP codes. In one example, a binary option can be set such that when the next hurricane that lands in a certain area (such as the United States, the North American Atlantic coast, the east coast of the United States, etc.) lands in the area, the binary option pays the contract amount to the buyer. The platform enables such trading, clearing, and / or settlement of binary options between buyers and sellers for one or more locations.

[0016] To facilitate such options, computer device 101 can perform computer calculations on various area parameters using local memory or a remote database. Such a database can include a relational database with computer registers, columns, and a number of tables with records prepared, an XML document, or a flat file. The data stored can include information sufficient to identify relational information such as numbers, descriptions, proprietary codes, references to data stored in other areas of the same or different memory (including other network locations), or information used in functions to calculate relational data.

[0017] The following is an example of a database table including the relevance between examples of latitude / longitude positions and U.S. ZIP codes. Landing at a latitude / longitude pair can be considered as landing in the area defined by the corresponding ZIP code. [Table 1]

[0018] A database that stores the relationship between each possible landing location within a region (e.g., by latitude / longitude pair) and an area (e.g., by ZIP code) can be calculated by computer device 101. In this example, the landing latitude / longitude pair is mapped to a set of ZIP codes having a latitude / longitude center at a distance of 75 miles from the landing latitude / longitude pair.

[0019] Data for identifying the ZIP code center is available from the U.S. federal government base. Data for identifying coastal locations is also available from the U.S. federal government database. To calculate a database of landing locations to the affected area defined by the set of ZIP codes, two databases are accessed, and the information is processed to obtain a database similar to the upper table.

[0020] The database of the mapping from latitude / longitude to ZIP code may use latitude / longitude pairs at a different level of detail than that obtained from the U.S. government coastal database. For example, the federal government may provide coastal locations every 500 meters, while the mapping may provide latitude / longitude pairs at 1 / 10 degree. An algorithm that combines multiple locations from the government database into a single latitude / longitude pair for mapping can be implemented on the government database data. For example, rounding, averaging, truncating, etc. of the location information from the government database are performed to create the mapping database. In one example, each location in the government database can be rounded to the first decimal place of latitude / longitude. Then, for each unique input of the rounded government database data, a row is created in the mapping database. This determination is made for each location in the government database in that region so that the mapping database has inputs for each latitude / longitude pair in the region.

[0021] For each row of the mapping database, a latitude / longitude pair can be created. For each pair, a set of ZIP codes having a center within 75 miles from the latitude / longitude pair can be determined. Access can be made to a government database listing ZIP codes with central positions. The latitude / longitude of each row can be compared with each center of the government database to determine the distance. If the distance is within (less than, below) 75 miles, an entry can be made to the row of that ZIP code. After this is completed, the mapping database has a mapping between each latitude / longitude pair and the ZIP codes having a center within 75 miles of the latitude / longitude pair. The table above shows only a very small part of the completion status of such complex calculations.

[0022] This mapping database enables listing of hurricane landing options by ZIP code. Business owners may want to purchase binary options for defense against losses in the ZIP code where they conduct their business. Through the platform, business owners can purchase hurricane landing binary options for this specific ZIP code.

[0023] When a landing occurs, the National Weather Service or some other reliable entity can report the location of the landing as a latitude / longitude pair. The platform refers to this pair, i.e., 23.8N 80.5W, to determine the ZIP codes affected. In this case, such ZIP codes are 33001, 33036, 33050, 33051, 33052 in the table above. According to the binary option contracts for these ZIP codes, the respective contract amounts are paid to the buyers. Nothing is paid to the buyers for binary options for other ZIP codes.

[0024] The database configuration above is an example of how the technology disclosed in this application improves the functions of a computer. With this database configuration, contracts can be quickly settled upon receiving the landing position information without adding complex and time-consuming calculations for the affected area. However, it should be understood that other examples may include other configurations, other databases, other levels of detail, etc.

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

[0026] The buyer and the seller may present contract orders for a desired ZIP code in a desired quantity and / or price. The matching price is determined by the platform to facilitate the transaction. Upon matching, the amount obtained by multiplying the contract amount by the quantity of the contract traded is charged to the buyer's account stored on the platform. The seller receives this amount as a deposit in their own account. In some examples, a fee may be charged to one or the other, or both. Any number of transactions, contract settlements, and number of users can be processed through the platform.

[0027] In some examples, the seller needs to hold a margin amount to ensure that the payment amount is available in case the seller has to make future payments for the sold contracts. The seller prevents the account from falling below the required margin amount. Other information regarding the margin is further described below.

[0028] Figure 2 illustrates an example of a method that can be implemented in several examples. Some examples may include receiving location information for a region (e.g., a coastal location and / or ZIP code center) as shown in block 202. In block 204, some examples may include adding to a database a mapping between latitude / longitude coordinates and ZIP codes using the received information. Some examples may include creating a list for making trades of hurricane landfall binary options for each mapped ZIP code as noted in block 206. In block 208, some examples may include providing information to a trading interface to facilitate trades by buyers and / or sellers. In block 210, some examples may include matching orders for selling and purchasing the listed hurricane landfall binary options. Some examples may include maintaining a margin limit for option sellers as shown in block 212. In block 214, some examples may include receiving the latitude / longitude of a hurricane landfall. In block 216, some examples may include determining the affected ZIP codes for the landfall location based on a database including the mapping. Further, some examples may include facilitating payment from sellers of contracts for the affected ZIP codes to the buyers of these contracts as shown in block 218.

[0029] Figures 3 - 7 illustrate examples of interfaces that can be used in several examples. Such interfaces are used to enable trading of hurricane landfall binary options through a platform. Such interfaces may include, but are not limited to, web pages, desktop applications, or mobile applications.

[0030] Figure 3 shows an analysis interface that could be part of some examples. As shown, a user can enter a location into the location bar 301. In this example, the entered location includes the New York ZIP code 10019. Upon receiving the ZIP code input, the interface can adjust the map display 303. The map display can 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 that shows an area around the center and indicates an area of 75 miles around the center. In the case of a binary option contract for the entered ZIP code, payment would be made to the buyer if landfall occurs within that circle. The area shown can vary from example to example. The example of the circle and 75 miles is used as an example because that area is considered to be most affected by a hurricane landfall. Some examples can have multiple areas based on the hurricane category such that the area increases as the hurricane intensifies.

[0031] The map display 303 can have several shading levels. For example, the water area 309 can have a dark shading level. In the example of Figure 3, the land area 311 is not associated with any binary option list. In this case, the land area 311 can have the lightest shading level indicating land that does not include binary options. An intermediate level of shading can be used to indicate land where binary options are listed. In the example of Figure 3, the land area 313 can be associated with binary options. The example of Figure 3 includes a ZIP code that has a center within 75 miles of a specified coastal latitude / longitude pair. As noted above, the complete list of ZIP codes can be determined from the mapping database created by the platform as described above. The outline of each ZIP code can be determined from the federal ZIP code location database. The intermediate shading area can be determined as an aggregate of ZIP code outlines. The intermediate shading is given as just an example. Other forms can be used to highlight and / or display the list of contracts.

[0032] In some examples, the user can click on the map display 303 (e.g., at the position of the intermediate shading) to select a ZIP code. In response to the selection, a circle indicating the landing area can be presented.

[0033] Other analysis tools such as those described at 315 can be provided. For example, current activities (such as wind speed, pressure, position, and / or other weather parameters of a hurricane, etc.), investigation tools, past event impact tools, in-progress and historical storm tools, zoom tools, etc. can 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 can be used as an analysis interface. If transaction elements are added to the interface, it can also be used as a transaction interface similar to those of Figures 5 and 6. Figure 4 includes a news element 401 and a ticker element 403. The new elements can present weather and / or hurricanes related to news in general and / or particularly related to the selected area. The ticker element can present price and / or trading information regarding binary options in general and / or particularly related to the selected area.

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

[0036] Figure 7 shows yet another example of an interface that can be used. This example includes several examples such as ticker elements, a map display, area indicators, a center marker, analysis tools, and a trading interface. This example also includes a deposit balance indicator showing the amount in the user account of 701. It should be recognized that various combinations of interface elements are used in various examples to facilitate trading and / or analysis related to landing binary options.

[0037] Figure 8 illustrates an example of a method. In block 802, some examples may include receiving location information about a region. Some examples may include, as shown in block 804, adding to a database a mapping of latitude / longitude coordinates and ZIP codes using the received information. In block 806, some examples may include determining, in the database, the area targeted by each ZIP code. Some examples may include, as shown in block 808, adding an emphasis of the targeted area to a map element of a user interface. In block 810, some examples may include adding news to a news element of the user interface and adding market data to a ticker element of the user interface. In block 812, some examples may include receiving a selection of a ZIP code of the targeted area based on a user click on the map element. Some examples may include, upon receiving the selection, adding a transaction element to the user interface and enabling a transaction of an in-the-money binary option contract for the selected ZIP code, as shown in block 814. In block 816, some examples may include receiving a transaction command upon receiving an operation of the transaction element by the user. Some examples may include, as shown in block 818, upon receiving the transaction command, placing an order through the platform.

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

[0039] A contract can be set up for subsequent hurricanes (e.g., the second or third hurricane to make landfall). Such multiple subsequent hurricane contracts may, in some examples, be listed together with the next landfall contract. In some examples, a subsequent list becomes effective after a landfall so that only the next landfall contract is listed at a time.

[0040] Other configurations may include contracts that are time-limited and / or limited to a specific hurricane. Such configurations may include situations where no landfall occurs. In such a scenario, depending on the platform settings, the contract price may be refunded to the buyer or retained by the seller.

[0041] In some examples, the seller may need to leave a margin balance in the account. Such a requirement can be achieved by preventing withdrawals and / or purchases that would cause the account to fall below the margin balance. Such a requirement can be achieved by preventing sales that would make the margin balance greater than the deposit balance.

[0042] The required margin can be determined based on the potential payments that the seller needs to make based on all binary option contracts sold by the yet-to-be-settled sales. For example, if the seller has an obligation to pay $1,000 to the buyer, the seller's required margin is $1,000. This ensures that the debt can be paid by the sale when the payment deadline arrives. After the settlement of the contract (e.g., the next landfall), the margin constraint for the unpaid amount can be lifted until / unless another sale is made.

[0043] In the calculation of potential payments, it can be considered that ZIP code contracts are mutually exclusive. For example, the seller sells the ZIP codes of New York and Florida related to the next landfall. Since it is impossible for the next hurricane to make landfall in both of these locations, these contracts will be mutually exclusive. In some examples, the seller may not need to have the required margin that is the sum of these potential debts. Instead, the platform can calculate the higher required margin of the two contracts.

[0044] In some examples, to perform such calculations, the platform can calculate the highest possible payment required for a given latitude / longitude position for the next landing. For example, this can be done by summing the contract amounts that can be triggered by landing at each latitude / longitude position in the mapping database as described above. The highest row can be calculated based on the required collateral assigned to the seller.

[0045] In some examples where the seller is also the buyer, the calculation of the required collateral can be offset only by the amount received by the seller based on a contract where money is given to the seller when the seller purchases and triggers it. For example, assume the seller is buying and selling a single New York ZIP code in separate transactions. The required collateral can be set as the amount due for the sold contract minus the amount that would be received from the purchased contract. Such an analysis can be performed as part of the above-described latitude / longitude mutually exclusive analysis to determine the landing position where the maximum payment is obtained when settling the required collateral. Other examples do not include such an offset.

[0046] In some examples, a single hurricane may make landfall twice. For example, it may come ashore, then go back out to sea, and then come back ashore again. In such a situation, the platform considers only the first landfall of the hurricane. In such a situation, the platform considers only the first landfall within a certain time (e.g., 12 hours). The platform lists up the post-landing contracts that can be triggered by such subsequent landfalls. Contracts offered for sale for the next landing can be triggered and settled by the first landfall. Subsequent contracts can be triggered by subsequent landfalls and can be triggered. Thus, only one landfall is relevant to the contract. Nevertheless, multiple contracts may be executed by a single hurricane making multiple landfalls. Although examples of landfall hurricane contracts are given, it should be recognized that other examples may also include other events. Other events can include, for example, blizzards, rainstorms, tornadoes, earthquakes, landslides, floods, monsoons, typhoons, fires, etc.

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

[0048] Another non-limiting example of information The platform enables trading of binary option contracts related to the location where a named tropical depression makes landfall in the eastern half of the continental United States. A tropical depression is an organized rotating system of clouds and thunderstorms that forms over tropical or subtropical waters and has a low-level closed circulation. Tropical depressions are classified by the commonly used terms of weak tropical depression, tropical storm, hurricane, and major hurricane, and when such a tropical depression achieves sustained winds of at least 39 miles per hour, the National Hurricane Center always assigns a name to the storm according to a published list of names maintained by the World Meteorological Organization.

[0049] The Atlantic Named Storm Landfall (「ANSL」) binary option contract features a payment of an absolute amount to one holder of the option and no payment to the counterparty. In this case, the long holder of the option is paid based on the landfall of a named storm in the designated area of this country. Each option provides several designated landfall zones identified by U.S. ZIP codes and called 「strike codes」. There are no premiums or discounts for various locations, and each location is a separate option contract. Generally, the contract is settled upon a qualifying Atlantic landfall, paying $1.00 per contract to the long position holders within the affected ZIP code area and paying nothing to all other contract holders of this ANSL contract.

[0050] Trading of the contract is based on principles only, and all participants are self-clearing. The risk positions of all participants are fully deposited according to the registration order and rules of the Cantor Exchange.

[0051] The ANSL contract may be a cash-settled contract based on an objective determination of where the tropical depression makes landfall.

[0052] Each strike code is similar to a specific "delivery point", but whether the provider is deliverable is not a consideration relevant to this contract. Also, the contract does not depend on an index of price information to determine whether a binary option is in-the-money or out-of-the-money. Rather, the contract is based on public advisories issued by the National Hurricane Center, a division of the National Weather Service, a government agency. The nature of these advisories is objective. The term of each contract is either when the named storm makes landfall or, whichever is earlier, until the contract ends on November 30 of the generally listed calendar year.

[0053] The National Weather Service is a U.S. government agency that creates advisories published by the National Hurricane Center based on objective information. An individual cannot manipulate or distort this information. Nor can an individual affect the price of the platform by manipulating these reports. Thus, the cash settlement determination is based on publicly available timely information that is reliable and widely accepted as an authoritative source for this information. Nevertheless, if necessary for maximum market benefit, the platform may retain the right to use other information sources to determine landfall at its discretion. This right may be used in the event of unforeseen circumstances where the National Hurricane Center advisories are unavailable. Such secondary sources are also objective and verifiable. The platform may document such decisions. The minimum price movement is 1 cent. A price band may be applied so that options are listed only at values higher than 1 cent ($0.01) and lower than 99 cents ($0.99).

[0054] The contract does not have a designated delivery month. Rather, several consecutive contracts indicating the order of named storms making eligible landfalls may be listed. An eligible landfall generally occurs 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 is listed for each daily transaction before November 30 of each calendar year and always corresponds to the next occurring landfall. Depending on market demand, several additional contracts representing subsequent consecutive landfalls may be listed simultaneously. If no landfall occurs before the expiration of the ANSL binary option, the binary option expires on the last trading day.

[0056] The platform offers a buy-and-hold or sell-and-hold contract notional account level of 10,000.

[0057] ANSL contracts are subject to mandatory liquidation under conditions set by the Cantor Commodity Exchange.

[0058] The liquidation of ANSL contracts is carried out in accordance with the rules of the Cantor Commodity Exchange L.P. (the "Commodity Exchange"). These contract rules are established in accordance with and constitute the "Contract Rules" of Rule IX-4(e) of the Platform Rules. The determination of whether the occurrence of an eligible Atlantic landfall ("QAL") and its location are primarily dependent on public advisories issued by the National Hurricane Center (NHC) of NOAA and published on the website www.nhc.noaa.gov is the sole responsibility of the platform. The platform makes no warranties regarding the accuracy of NHC advisories and its discretion is to use other public and private weather forecasting sources to determine the location of QAL when acting in the best interests of the market. The platform shall document the information that gives rise to the declaration of QAL.

[0059] When the National Hurricane Center (NHC) announces that a named Atlantic storm has made landfall, the platform may designate such a landfall as a Qualifying Atlantic Landfall (QAL) provided that the following criteria are met: (A) The storm was named prior to making landfall. (B) The latitude / longitude of such landfall is listed in the “Landfall” column of the mapping database. (C) This landfall is at least 12 hours after the previous QAL. (D) This landfall is not a revision or correction of a previous landfall or a dissipated storm. (E) The landfall occurs when there is an ANSL contract listed for trading. Such 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 name of the storm (if applicable), date, time of landfall, latitude, and longitude of the landfall.

[0061] Multiple landfalls of the same named storm are eligible as separate QALs. However, each successive landfall of the same named storm that exceeds 12 hours from the previous landfall shall be for the next contract in the series. A landfall latitude / longitude point that is eligible as a QAL may be in an area that is not part of the contiguous United States.

[0062] After a QAL has occurred, the platform may determine the affected ZIP code areas by referring to the QAL latitude / longitude in the mapping database and identify the corresponding affected ZIP code areas. Each open contract with a strike code within the affected ZIP code area may be cash-settled at a value of $1. Other strike codes may be settled at a value of zero dollars. If no QAL occurs by the end of trading on the final trading day, all strike codes for that contract may be settled at a value of zero dollars.

[0063] Settlement of open contracts in each ANSL contract may occur after each QAL, at the end of the first business day following the QAL, or, if no QAL occurs, by the final trading day. If a QAL occurs prior to the final trading day, a new contract in the series may be listed.

[0064] Each ANSL contract is identified by WXANSLyyee, where "yy" corresponds to the last two digits of the year and "ee" is the serial number of the ANSL contract. That is, the first ANSL contract for the 2016 season is listed as WXANSL1601. The second ANSL contract for that season would be listed as WXANSL1602. Individual contracts within such a series may be listed simultaneously or sequentially at the discretion of the platform.

[0065] The first trading date of the first ANSL contract for each calendar year may be listed on the first Monday in January of that calendar year. The first trading date of each successive ANSL contract in a series may be listed (A) by notice posted on the platform website or (B) on the next business day after a QAL has occurred if the successive contract has not yet been listed. No new ANSL contracts are listed after November 30 of each calendar year.

[0066] The end of trading for each ANSL contract in a series is (A) at the time of the QAL corresponding to the ANSL contract or (B) November 30 of that calendar year if there are no named Atlantic Basin named storms active on November 30, in which case the last trading date may be the last business day of that calendar year or the first date on which there are no active Atlantic Basin named storms.

[0067] Except as otherwise posted in another form on the platform website, regular trading of ANSL contracts may be from 6:30 PM ET on Sundays to 4:00 PM ET on Fridays. In some instances, trading in these contracts does not occur during the hours between 4:00 PM ET and 6:30 PM ET on any platform trading day.

[0068] When the following occurs, trading is available on the platform on weekends. (A) A named storm is expected to make landfall in the contiguous 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 predicted to make landfall in the United States within the next 7 days. Or (C) A Category 3 or stronger named storm exists in the Atlantic Basin. The platform posts on its website the times when it is open for continuous trading. Trades made after 4:00 PM ET on a regular trading day may be reported with the trades of the next regular trading day. It should be recognized that such trading times are given as examples only.

[0069] The valid strike codes for ANSL contracts include those listed as part of the affected ZIP code areas in the mapping database. Modifications to the database may be posted on the platform website when necessary.

[0070] There are no trades in ANSL contracts above 99 cents ($0.99) or below 1 cent ($0.01). The minimum trading increment for each ANSL contract is 1 cent. The open interest level can be 10,000 contracts of net long or net short for each ANSL strike code. The initial margin can be 100% of the risk amount for each party to an ANSL contract as required by the clearinghouse.

[0071] The mapping database can correlate the landfall points of named storms in the Atlantic with the corresponding in-the-money Cantor platform strike codes. The final settlement of the next consecutive ANSL contract is determined by the platform's reference to the latitude / longitude landfall. If such a landfall is a qualifying Atlantic landfall, it settles the corresponding strike code listed in the mapping database at $1.00 and settles all other strike codes for contracts at $0.00.

[0072] The Cantor Platform Strike Codes generally correspond to approximately 9,500 US Postal Service ZIP Codes whose geographic centers are located within 75 statute miles of a latitude / longitude point proximate to the US Atlantic Basin coast, including the Atlantic Ocean, the Caribbean Sea, and the Gulf of Mexico.

[0073] In some cases, only the latitude and longitude listed in the mapping database may be used to determine eligibility as a landfall event. Rarely, a named storm with a landfall that is not listed in the database is considered an "out-of-area" landfall and not an eligible Atlantic landfall. Therefore, the next consecutive ANSL contract will continue the transaction even if no landfall occurs.

[0074] A landfall latitude / longitude point may be located in an area that is not part of the contiguous United States. For example, an eligible latitude / longitude point may lie on the territorial boundary lines of Dry Tortugas, the Bahamas, and Canada. These points are included because their latitude / longitude coordinates are within 75 miles of the center of a US ZIP Code and are therefore considered strongly influential for those ZIP Codes.

[0075] Despite the occasional addition, deletion, or redefinition of the ZIP Code center by the US Postal Service, the relationships in the mapping database are static for each calendar year. Further, any changes made by the US Postal Service after January 1 of the year the contract was listed do not affect which strike code provisions are in the money for each landfall within that calendar year.

[0076] Some ZIP Codes target large, non - adjacent areas. Therefore, when considering these ZIP Codes in the mapping tool, they may appear to be located more than 75 miles from a landfall point in the latitude or longitude of 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 point.

[0077] Some examples may include web-based platforms. This website provides a mixture of historical, current, and predicted weather information and can also be used as the front end of an exchange. This information helps market participants in the development of weather-related strategies.

[0078] For example, binary option contracts are related to the landfall location of tropical depressions along the coasts of the Atlantic Ocean and the Gulf of Mexico in the United States. ANSL is characterized by the fact that the full amount is paid to one holder of the option and not to the other party. In this case, based on the landfall of a tropical depression at a specified location, payment is made to the long holder of the option. Each specific option provides several designated landfall zones, which are identified by U.S. government postal ZIP codes and are named "strike codes". The National Hurricane Center of the U.S. National Oceanic and Atmospheric Administration verifies each landfall event.

[0079] On average, the United States experiences approximately three qualifying Atlantic landfalls in a given year. This is comparable to an average of 11 to 12 named storms occurring each year. In short, approximately one out of three or four named storms makes landfall in the United States. However, this number is highly 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 7 made landfall (one in two).

[0080] Given this variability, in some examples, landfalls are specified in sequence (1, 2, 3, etc.) without associating a particular named storm with this continuity. Thus, the pricing of the contract mainly reflects location-based factors and does not strongly depend on the probability of a given named storm making landfall.

[0081] For example, 12 American-style option contracts are pre-listed on January 1 (Landfall01, Landfall02, etc.) and all are settled on December 31. When done this way, all contracts seem to be tradable on January 1 and have a regular one-year bill payment period. As a result of such a listing pattern, each contract is either fulfilled early (i.e., upon landing since each is an American-style option) or expires worthless on December 31.

[0082] Also, assuming that tropical storms generally come one after another with a few days in between, listing the landings following the next landing simultaneously (i.e., the next next landing and the next next next landing) can have an adverse effect on liquidity. As a result, some contracts end out-of-the-money at the end of the year, preventing commercial users of the next storm from considering it immediately. Thus, in some cases, there is only one valid contract at any point during the season, and (1) all the lots of all contracts are automatically exercised as soon as possible after the landing occurs, and (2) listing is started as soon as possible after the previous landing contract is settled. This creates a different listing cycle for ANSL contracts, maximizes usefulness by concentrating liquidity on the next landing, and focuses commercial users on only the next potential tropical storm event. For example, in 2016, there was an early and active season where tropical storms had already affected South Carolina and the west coast of Florida. This was an abnormal occurrence that was completely unpredictable based on history, so the price fluctuations in the next next next landing contract were abnormally high, suffering from price distortions that reduced effectiveness (by historical standards) in the eyes of many commercial parties. In some cases, a 75-mile radius ring may be used.

[0083] For example, Hurricane Irene (2011) and Hurricane Sandy (2012) made landfall at Little Egg Harbor, New Jersey, located at 39.4N 74.4W, but neither storm was designated a hurricane by the NHC at the time of landfall. These landfalls resulted in payments in 659 ZIP codes with a population of approximately 10 million people, geographically from the border of Delaware and Maryland in the south (ZIP code 19944) to Wilmington, Delaware (ZIP code 19801), Philadelphia and its western suburbs in Pennsylvania (ZIP code 19444), and New Brunswick, New Jersey (ZIP code 08902). Although these storms have been severe recently, as a result of the landfall at Little Egg Harbor, the ZIP codes of New York City did not result in in-the-money final settlements. Therefore, in some cases, a larger radius is used, but such cases are based on a 150-year historical analysis and do not give disproportionate weight to these events. 75 miles could be a proxy for the affected area. The average size of economically impactful tropical events could correspond to areas experiencing winds of at least tropical storm intensity (39 miles per hour or more). Based on data going back to 1850, winds of tropical storm intensity (i.e., winds lasting at least 39 miles per hour) have a radius ranging from an average of 68.38 miles from the storm center in the southwestern quadrant to 75.90 miles in the northeastern quadrant, with an average distance of 72.07 miles.

[0084] It is worth noting that contracts with a 75-mile radius cover an affected area exceeding 17,000 square miles. If nearly half of this area is over water, the affected land area is still over 8,000 square miles. Commercial users can eliminate the basis risk introduced by the 75-mile radius determination. For example, when a large storm (e.g., >75-mile radius) approaches a coastal warehouse that is 90 miles from the predicted storm center, commercial users can, as described below, move the center of their risk to a location fully within the 75-mile onshore area from the location of their warehouse. Some examples can include payouts that vary based on wind speed, distance from the storm center, sea level rise, and / or other parameters. This variability can occur across the entire area considered "in the money" or can be equally applied to all areas. Other examples can include a uniform payout in the affected area.

[0085] Wind speed, along with the distance from the storm center, can change the quadrants that a company experiences the wind field. Winds of hurricane strength are, on 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, winds of 58 miles per hour are, on 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. Historically, the greatest economic damage has been caused by flooding rather than wind conditions. Since economic losses up to the storm's landfall are necessarily unknown, the multiplier related to the distance from the storm center could undermine the usefulness of the contract.

[0086] In some examples, the damage is generally higher in the northeast quadrant, so the payout for positions in the northeast quadrant is higher than that in the southwest quadrant. However, in other examples, this is not the case. Instead of devising contract designs to account for such complex variables, in some examples, the assumed size of the contract can be used such that commercial market participants can adjust their bets in the best form considering such variables. For example, a market participant who is on high ground or predicts to be southwest of the storm's landfall may decide to obtain less protection than full exposure, while another commercial market participant located in a low-lying area or the northeast quadrant may choose to obtain protection for the full amount.

[0087] Some examples may include high payouts for strong or high-category storms. Economic damage has a high correlation with storm intensity. Commercial users will sell their purchases as storm intensity increases. In some examples, less accurate location identifiers may be used. For example, state boundaries, county boundaries, and large geographic areas may be used. Since it is rare for geopolitical boundaries to coincide with storm boundaries, large areas are arbitrary, inaccurate, or too crude for commercial users to achieve maximum usefulness. 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 side grid between landfall points. In some examples, commercial users can select landfall points based on latitude and longitude targeting a 75-mile radius. The ZIP codes of the US Postal Service are defined and are a location specification that is almost immediately recognizable to most commercial market participants. Additionally, ZIP codes have non-original but easily understandable place names associated with each ZIP code, enabling easy recognition by commercial market participants. The average ZIP code encompasses over 140 landfall points.

[0088] Similarly, any given landfall point has on average approximately 350 ZIP codes within the 75-mile radius area affected. Due to the fine location accuracy, it is possible for individual commercial interests to more accurately capture the affected areas of each storm's landfall location and customize and balance the fixation of the geographical risk concentration essentially inherent in its corporate profile. Furthermore, the fine accuracy of the strike codes enables the effective reformation of the above-mentioned large areas. For example, an ideal set of strike codes could be those that efficiently mimic state boundaries, county boundaries, and boundaries. The 9488 strike codes are defined and effective for use by commercial market participants, but the liquidity is concentrated around a dozen major strike codes and seamless among strike codes with highly relevant latitudes and longitudes of landfall points. Commercial users can reduce inland damage by recentering their exposure to the strike codes along the path of the storm. For example, a warehouse located 150 miles north of the predicted landfall point of a northward-moving storm would purchase options south of its location and choose to adjust the purchase scale proportionally to the predicted damage as the storm weakens as it moves northward on the ground.

[0089] Some examples may include graphical interface displays of storm landfall probabilities. To make such a display, data regarding a particular storm are measured and analyzed. For example, satellite imagery, SIP data, buoy data, coastal data, aircraft data, radar data, computer models, historical models, etc. can be used to determine the landfall probability of a storm. Such determination can be carried out in real-time or near real-time. Figures 9, 10, and 11 show some examples of such interfaces.

[0090] Figure 9 shows an example including probability numbers centered on each ZIP code. Figure 10 shows shaded dots centered on each ZIP code. Figure 11 shows conical shading of regions. The shading corresponds to the probability of landfall. Figures 10 and 11 show how the color gradation is mapped to the probability. For example, a low probability is closer to a lighter gradation, a medium probability is gray, and a high probability is a dark gradation. The probability is accepted from a reliable source and can be appropriately mapped to the color gradation. The mapping between color and probability can be stored in a database or set by the user.

[0091] Some examples may include contracts based on the number of named storms over a certain period (e.g., hurricane season, one year, ten years), the number of named storms that make landfall, the number of hurricanes, etc. In such contracts, payment is made to the holder if the conditions are met. For example, in a contract stating that there will be at least 5 named storms, payment is made to the holder if there are at least 5 named storms. The platform accepts data representing the number of named storms from a reliable source (e.g., the National Weather Service) and settles the contract according to the data. If the conditions are not met, no payment is made (e.g., the seller retains the selling price). The types of conditions can include at least, at most, more, exactly equal, etc.

[0092] An interface for the user to order such contracts can be provided to the user. Figures 12, 13, and 14 show examples of the interface. The interface may include historical data representing past seasons. The interface may include prediction data regarding the current season. The interface may include analysis tools such as average information, probability information, etc. The user can select whether to buy or sell an event and input the parameters of the transaction through such an interface.

[0093] Figure 12 shows an interface having a number of available event types. The user can select an event type and enter one or more parameters. In response, an interface such as that of Figure 13 can be presented to the user for continuing the business transaction. For example, the user can enter price and / or other information here. Information can be added to the data with information from the previous interface first. The user concludes the business transaction and submits this to the exchange.

[0094] Figure 14 shows an example of a selling transaction, and Figure 13 shows an example of a buying transaction. The user submits an order for such a contract to the platform. The platform matches the order with other orders to sell the contract and generate a transaction. It should be recognized that various examples are given here in a non-limiting sense. The various examples may be combined together in any form.

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

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

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

[0098] Each process (method, algorithm, or other name) essentially includes one or more steps, and therefore all references to the "step" or "steps" of a process have a proper antecedent basis in the mere description of the process or in the mere repetition of the term "process" or similar terms. Accordingly, references to the "step" or "steps" of a process in the claims have a sufficient antecedent basis.

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

[0100] The indication of a thing can include an electronic message that identifies that thing (for example, identifying a part by a serial number affixed to the part, or identifying a part by one or more characteristics of the part). The indication of a thing can include information that can be used to calculate and / or reference the thing (information that can be used to judge a part and that identifies a machine of which the part is a part). The indication of a thing can specify things related to the thing (for example, characteristics of the thing, the name of the thing, the name of things related to the thing). The indication of a thing may not specify things related to the thing (for example, the character "a" can be an indication of a part of a computer system configured to interpret the character "a" to identify a part). The indication of a thing can include signs, symptoms, and / or appearances of the thing. An indication can include, for example, a code, a citation, an example, a link, a signal, and / or an identifier. The indication of a thing can include information that represents, describes, and / or otherwise relates to that thing.

[0101] Something that is a modification of the indication of a thing can be an indication of the thing (for example, an indication of a thing by encryption is an indication of the thing). The indication of a thing can include the thing itself, a copy of the thing, and / or a part of the thing. The indication of a thing can be meaningless to things not configured to understand that indication (for example, a person does not understand that the character "a" indicates a part, but nevertheless, since a computer system can judge a part from the character "a", "a" can be an indication of a part). It should be understood that the fact that an indication of a thing can be used to make a judgment about that thing does not mean that that thing or anything else can be judged. The indication of a thing can include an indication of the number of things unless otherwise specified. The indication of a thing can include an indication of other things (for example, an electronic message that indicates many things). An indication can be used as a very broad term in claim language. One example can be accepting an indication of a financial product.

[0102] The term "represent" means (1) to indicate, specify, stand for, or function as a word, symbol, or the like; (2) to indicate or specify by means of some word, letter, symbol, or the like; (3) to depict, draw, or present an analogue as a picture does; (4) to function as a sign or symbol.

[0103] When referring to "another example" in the context of an explanation, unless otherwise specified, it does not imply that the example being referred to is mutually exclusive with another example (e.g., an example described earlier than the one being referred to). Similarly, the mere fact that two (or more) examples are mentioned does not imply that these examples are mutually exclusive.

[0104] The terms "including", "comprising" and their variations mean "including but not necessarily limited to" unless otherwise specified. Thus, for example, the sentence "The machine includes red parts and blue parts" means that the machine includes red parts and blue parts, but it may also include one or more other items.

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

[0106] The term "compose" and its variations mean, unless otherwise specified, "to form constituent parts, components, or members". Thus, for example, the sentence "Red parts and blue parts compose the machine" means that the machine includes red parts and blue parts.

[0107] The terms "exclusively compose" and variations thereof mean, unless otherwise specified, "exclusively form the components, the only components, or the only members". Thus, for example, the sentence "The red part and the blue part exclusively compose the machine" means that the machine is composed of the red part and the blue part (i.e., it does not include anything else).

[0108] The terms "a", "an", and "the" mean "one or more", unless otherwise specified. Thus, for example, the phrase "a widget" means one or more widgets, unless otherwise specified. Similarly, following the description of the phrase "a widget", subsequently describing "the widget" means "the one or more widgets". Therefore, it should be understood that the word "the" also refers to a specific term having a prior basis. For example, when a paragraph states "a specific single feature" and then refers to "the feature", the phrase "the feature" should be understood to refer to the "specific single feature" described previously. (It should be understood that the word "a" in "a specific single feature" refers to "one" specific single feature and not "one or more" specific single features.)

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

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

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

[0112] Words representing numbers such as "1" (one), "2" (two), etc., when used as a cardinal number indicating some quantity (e.g., one component, two components), mean the quantity indicated by such word representing the number, but do not mean at least the quantity indicated by such word representing the number. For example, the phrase "one component" does not mean "at least one component", and thus the phrase "one component" does not target, for example, two components.

[0113] The phrase "based on" does not mean "based only on" unless otherwise specified. In other words, the phrase "based on" targets 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" targets examples where Element A is calculated as the product of B×C (in other words, A = B×C), examples where A is calculated as the sum of B + C (in other words, A = B + C), examples where A is calculated as the product of B×C×D, examples where A is calculated as the square root of B and C×E, etc.

[0114] Words similar to the word "represent" are not exclusive unless otherwise specified. For example, the word "represent" does not mean "represent only" if not otherwise specified. For example, the phrase "the data represents a credit card number" applies to both "the data represents only the credit card number" and "the data represents the credit card number and the data represents something else".

[0115] The word "whereby" is used in this application only to precede a clause or other grouping of words that represents only the result, purpose, or consequence assumed for something specified before the word "whereby". Therefore, when the word "whereby" is used in a claim, the clause or other words modified by the word "whereby" do not establish a further limitation of the claim, nor do they limit the meaning or scope of the claim.

[0116] Words such as "e.g.", "such as", and similar words mean "for example" and thus do not limit the words or phrases they explain. For example, in the sentence "A computer sends data (e.g., instructions, data structures) via the Internet", the word "e.g." explains that "instructions" are an example of "data" that a computer sends via the Internet and also that "data structures" are an example of "data" that a computer sends via the Internet. However, both "instructions" and "data structures" are merely examples of "data", and other things besides "instructions" and "data structures" can also be "data".

[0117] Words similar to the word "respective" mean "considered individually". Therefore, when two or more things have "respective" characteristics, such things have their own characteristics, and these characteristics are different from each other, but they do not have to be. For example, the phrase "each of the two machines has its respective function" means that the first of the two machines has a certain function and the second of the two machines also has a certain function. The function of the first machine may or may not be the same as the function of the second machine.

[0118] Words similar to the word "i.e." mean "that is", and therefore limit the word or phrase it explains. For example, in the sentence "The computer sends data (i.e., instructions) via the Internet", the word "i.e." explains that "instructions" are the "data" that the computer sends via the Internet.

[0119] Unless otherwise specified, a numerical range includes integers and non-integers within that range. For example, the range "from 1 to 10" includes integers from 1 to 10 (e.g., 1, 2, 3, 4…9, 10) and non-integers (e.g., 1.0031415926, 1.1, 1.2…1.9).

[0120] If two or more words or phrases are synonyms (e.g., because it is specified that such words or phrases are synonyms), one instance of such a word or phrase does not mean that another such word or phrase must have a different meaning. For example, if it is described in the explanation that the meaning of "including" is synonymous with "including but not limited to", the use of only the phrase "including but not limited to" does not mean that the word "including" means something other than "including but not limited to".

[0121] II. Judgment The term "determining" and its grammatical variations (e.g., determining a price, determining a value, determining an article that meets a certain criterion) are used in a very broad sense. The term "determining" encompasses a variety of operations, and thus "determining" can include calculating, computer computing, processing, deriving, investigating, referring (e.g., referring to a table, database, or another data structure), expressing in an electronic format or digital display, elucidating, and others. In addition, "determining" can include receiving (e.g., receiving information), accessing (e.g., accessing data in a memory), and others. In addition, "determining" can include resolving, selecting, picking out, ascertaining, and others.

[0122] The term "determining" does not imply certainty or absolute accuracy, and thus "determining" can include estimating, extrapolating, predicting, speculating, averaging, and others.

[0123] The term "determining" does not imply that a mathematical process must be performed, does not imply that a numerical method must be used, and does not imply that an algorithm is used.

[0124] The term "determining" does not imply that a specific device must be used. For example, it is not necessarily required that a computer perform the determining.

[0125] The term "determining" can include "calculating". The term "calculating" should be understood to include performing one or more calculations. Calculating can include computer computing, processing, and / or deriving. A computing device can perform calculations. For example, calculating something can include applying an algorithm to data by a computer processor and generating that something as the output of the processor.

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

[0127] The term "determining" may include "receiving". For example, receiving a thing may include accepting the thing. In some examples, receiving may include an operation performed to receive a thing, such as an operation of a network interface for receiving the thing. In some examples, receiving may be performed without an operation being performed to receive a thing, such as direct memory writing or a hard-wired circuit. Receiving a thing may include receiving the thing from a remote source that has computed the thing.

[0128] III. Sentence form When a limitation of a first claim is directed to two or more features together with one feature (for example, a limitation such as "at least one component" is directed to two or more components together with one component), and a second claim dependent on the first claim uses the definite article "the" to refer to this limitation (for example, "the component"), this use alone does not imply that the first claim is directed to only one of the features. Further, this does not imply that the second claim is directed to only one of the features (for example, "the component" may be directed to both one component and two or more components).

[0129] When an ordinal number (such as "first", "second", "third", etc.) is used before a term that is an adjective, this ordinal number (unless otherwise specified) is used only to indicate a particular feature, such as distinguishing this particular feature from another feature described by the same or a similar term, but this ordinal number has no other meaning or limiting effect - it is simply a name for convenience. For example, "the first component" can be named only for the purpose of distinguishing it from, for example, "the second component". Therefore, simply using the ordinal numbers "first" and "second" before the term "component" does not indicate any other relationship between the two components, nor does it indicate any other features of either or both components. For example, simply using the ordinal numbers "first" and "second" before "component" does not (1) indicate that one component is in front of or behind another in order of position, (2) indicate that one component occurs or acts before or after another in time, or (3) indicate that one component is of a higher or lower rank than another in terms of importance or quality. The mere use of an ordinal number does not define a numerical limitation of the feature specified by the ordinal number. For example, the mere use of the ordinal numbers "first" and "second" before the term "component" does not accurately indicate that there are exactly two components.

[0130] When a single device, article, or other product is described in this application, in another example two or more devices or articles (whether or not they cooperate) can alternatively be used in place of the described single device or article. Accordingly, the functionality described as being provided by a certain device can, in another example, be alternatively provided by two or more devices or articles.

[0131] Similarly, when two or more devices, articles, or other products (whether or not they cooperate) are described in this application, in another example, a single device or article may alternatively be used in place of the two or more devices or articles described. For example, a plurality of computer-based devices may be substituted with a single computer-based device. In some examples, such a plurality of computer-based devices may function together to perform one step of a process, as is commonly seen in a grid computing system. In some examples, such a plurality of computer-based devices may function to perform one step of a process, as is commonly seen in a cloud computing system, such that the plurality functions to provide additional functionality to each other. (Conversely, a single computer-based device may be substituted with a number of computer-based devices that cooperate with each other. For example, a single computing device may be substituted with servers and workstations that communicate with each other via the Internet.) Accordingly, various functionalities 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 that are described but not expressly stated to have such functionality or features may, in another example, alternatively embody the functionality and / or features of the single device described. Thus, the other examples need not include the device itself as described, and these other examples may include one or more other devices having such functionality or features.

[0133] IV. Examples of disclosure and technical terms 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) should be regarded as limiting the scope of the disclosure in any way, or as being used to interpret the meaning of any claim, or as being used to limit the scope of any claim. The abstract is included in this application only because an abstract is required by Rule 1.72(b) of the Patent Rules.

[0134] The headings of the sections presented in this application are for convenience only and shall 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 examples described are not limiting in any sense and are not intended to be limiting. As will be readily apparent from the disclosure, the disclosure is widely applicable to numerous examples. One of ordinary skill in the art will recognize that the technology disclosed in this application can be practiced with various modifications and changes, such as structural, logical, software, and electrical variations. Specific features of the disclosure are described with reference to one or more specific examples and / or drawings, but unless otherwise specified, it should be understood that such features are not limited to use in one or more specific examples or drawings with reference to what is described.

[0136] Examples are disclosed as including several features, but other examples may include fewer than all of such features. Thus, for example, claims may be directed to less than the entire set of features of the disclosed examples, and such claims should not be construed as requiring features other than those expressly recited in the claims.

[0137] Not all of the disclosed examples (including pending, amended, issued, or cancelled claims) are necessarily the subject of the claims. In addition, the disclosed examples may be the subject of some of the claims (but not necessarily). Thus, when a claim is directed to a particular example (regardless of whether it is pending, amended, issued, or cancelled), this is not evidence that the scope of other claims is not also directed to that example.

[0138] Devices described as being in communication with each other need not be in continuous communication with each other unless otherwise specified. On the contrary, such devices only need to send to each other when necessary or desired, and in fact data exchange is suppressed for most of the time. For example, a machine in communication with another machine via the Internet may not send data to the other machine for a long time (e.g., several weeks at a time). In addition, devices in communication with each other can communicate directly or indirectly through one or more media. Devices are in communication with each other if at least one-way communication is possible between them. For example, if a first device can send information to a second device, the first device is in communication with the second device. Similarly, if a second device can receive information from the first device, the second device is in communication with the first device.

[0139] The description of examples containing some 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 diverse possible examples. Unless otherwise specified, no component or feature is essential or required.

[0140] Process steps, algorithms, etc. are described or claimed in a particular order, but such processes may be configured to function in a different order. In other words, the order or sequence of steps explicitly described or claimed does not necessarily indicate that the steps must be performed in that order. The steps of the processes described in this application may be performed in any possible order. Furthermore, even if it is described or implied that steps occur non-simultaneously (e.g., because one step is described after another), some steps may be performed simultaneously. Also, the description of a process by being depicted in a drawing does not imply that the described process is exclusive of other variations and modifications, does not imply that any of the described processes or steps are required, and does not imply that the illustrated process is preferred.

[0141] A list of items, whether numbered or not, does not imply that any or all of the items are mutually exclusive, unless otherwise specified. Similarly, a list of items, whether numbered or not, does not imply that any or all of the items encompass any category, unless otherwise specified. For example, the enumeration list of "computer, laptop, and PDA" does not imply that any or all of the three items in the list are mutually exclusive, nor does it imply that any or all of the three items in the list encompass any category. A list of items, whether numbered or not, does not imply that any or all of the items are equivalent to each other or are easily substitutable for each other.

[0142] VII. Waiver of rights Multiple references to specific examples do not imply waiver or denial of additional different examples. Similarly, references to descriptions of examples all containing a specific feature do not imply waiver or denial of examples not containing this specific feature. An express waiver or denial in this application is preceded by the phrase "does not include" or "cannot perform".

[0143] It should be understood that although the disclosure of this application is described with reference to specific examples, these examples are only illustrative of the principles of the disclosure. Therefore, it should be understood that numerous modifications can be added to the examples and other configurations can be devised without departing from the spirit and scope of the disclosure defined by the appended claims. Furthermore, although a specific process is shown in a particular order in the accompanying drawings, such a process is not limited to that particular order unless clearly presented in this application. Rather, the various steps may be processed in a different order or simultaneously, and steps may be omitted or added. 〔Appendix 1〕 An apparatus comprising: a memory; 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 the memory an association between a given longitude and latitude pair and each ZIP code within a predetermined radius from the given longitude and latitude pair, displaying on the display device a graphical representation of a map, a circle around the given longitude and latitude pair on the map, and a radius of the circle corresponding to the predetermined radius, displaying on the display device a graphical user interface including data representing a binary option based on whether a storm makes landfall within the predetermined radius, displaying on the display device a plurality of landfall probabilities on the map, receiving from the graphical user interface data indicating a request to purchase the binary option, receiving from a remote device the landfall location of the storm, identifying whether the landfall location corresponds to a ZIP code associated with the given longitude and latitude pair within the memory, at least one processor; and an apparatus comprising the same. 〔Appendix 2〕 wherein the at least one processor is further configured to display the circle on the display device with a first shading before the at least one processor receives data indicating a sale of the binary option, an apparatus according to Appendix 1, configured as such. 〔Appendix 3〕 wherein the at least one processor is further configured to change the circle displayed on the display device to a second shading different from the first shading upon receiving the data indicating a sale of the binary option, an apparatus according to Appendix 2, configured as such. 〔Appendix 4〕 an apparatus according to Appendix 1, wherein the predetermined radius is 75 miles. 〔Appendix 5〕 an apparatus according to Appendix 1, wherein the at least one processor is further configured to change the detail level of the plurality of longitude and latitude coordinate pairs. 〔Appendix 6〕 an apparatus according to Appendix 5, wherein the at least one processor is configured to round each of the longitude and latitude coordinate pairs to change the detail level. 〔Appendix 7〕 wherein the at least one processor is further configured to Detect an input of ZIP codes within the predetermined radius from the given longitude and latitude pair via the graphical user interface, Upon detecting the ZIP codes input via the graphical user interface, display the circle around the given longitude and latitude pair on the map, The device of Appendix 1, configured as such. [Appendix 8] The device of Appendix 1, wherein the at least one processor is further configured to display weather-related news corresponding to the area within the circle on the map. [Appendix 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, a correlation between a given longitude and latitude pair and each ZIP code within a predetermined radius from the given longitude and latitude pair in a memory, Displaying, by the at least one processor, a graphic representation of a map on a display device, a circle around the given longitude and latitude pair on the map, and a radius of the circle corresponding to the predetermined radius, Displaying, by the at least one processor, on the display device a graphical user interface including data representing binary options, wherein the binary options are based on whether a storm makes landfall within the predetermined radius, Displaying, by the at least one processor, a plurality of landfall 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 options, Receiving, by the at least one processor, the landfall position of the storm from a remote device, Identifying, by the at least one processor, whether the landfall position corresponds to a ZIP code associated with the given longitude and latitude pair in the memory, A method including the above. [Appendix 10] Furthermore, Displaying, by the at least one processor, the circle on the display device together with a first shading before the at least one processor receives data indicating a sale of the binary options, The method of Appendix 9, further including the above. [Appendix 11] Furthermore, Receiving, by the at least one processor, the data indicating the sale of the binary option, and changing the circle displayed on the display device to a second shading different from the first shading; The method of appendix 10, including this. [Appendix 12] The method of appendix 9, wherein the predetermined radius is 75 miles. [Appendix 13] Furthermore, the method of appendix 9, including changing, by the at least one processor, the detail level of the plurality of longitude-latitude pairs. [Appendix 14] The method of appendix 13, wherein the change in the detail level further includes rounding each of the longitude-latitude pairs by the at least one processor. [Appendix 15] Furthermore, Detecting, by the at least one processor, an input of a ZIP code within the predetermined radius from the given longitude-latitude pair via the graphical user interface; Receiving, by the at least one processor, a detection that the ZIP code has been input via the graphical user interface, and displaying the circle around the given longitude-latitude pair on the map; The method of appendix 9, including this. [Appendix 16] The method of appendix 9, further including displaying, by the at least one processor, weather-related news corresponding to an area within the circle on the map. [Appendix 17] At runtime, Receiving a plurality of longitude-latitude coordinate pairs from a remote device; Generating, in a memory, a relationship between a given longitude-latitude pair and each ZIP code within a given radius from the 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 the display device, data representing a binary option based on whether a storm makes landfall within the predetermined radius; Receiving data indicating a request to purchase the binary option; Receiving the landfall position of the storm from a remote device; Identifying whether the landfall position corresponds to a ZIP code associated with the given longitude-latitude pair in the memory; A non-transitory computer-readable medium storing instructions for instructing at least one processor to do so.

Explanation of Symbols

[0144] 101 Computer device 103, 105, 107 Devices 301 Location bar 303 Map display 305 Indicator 307 Circle 309 Water area 311, 313 Land areas 315 Analysis tool 401 News element 403 Ticker element 501 Transaction interface 701 User account

Claims

1. A machine comprising: a memory; a display device; a network interface for communicating with at least one remote device; at least one processor configured to: receive a plurality of longitude and latitude coordinate pairs from a remote device; generate in the memory an association between a given longitude and latitude pair and each ZIP code within a predetermined radius from the given longitude and latitude pair; display on the display device a graphical user interface including a map and a circle around the given longitude and latitude pair on the map, the circle having a radius corresponding to the predetermined radius; display on the display device data representing binary options for buyers and sellers based on whether a storm will make landfall within the predetermined radius; receive data indicating a request to purchase the binary option; receive from the remote device the landfall location of the storm; identify whether the landfall location corresponds to a ZIP code associated with the given longitude and latitude pair in the memory, calculate a payout of the binary option based at least in part on the strength of the storm, and determine a margin requirement for the seller to maintain a margin balance in an account and prevent a sale that would increase the margin requirement for the account; and the at least one processor; A machine comprising the same.

2. The machine according to claim 1, wherein the at least one processor is further configured to calculate a payout of the binary option for a next storm affecting the landfall location.

3. The at least one processor is further configured to: Before the at least one processor receives data indicating the sale of the binary option, display the circle on the display device together with a first shading. The device according to claim 1, configured as such.

4. The at least one processor further Upon receiving the reception of the data indicating the sale of the binary option, change the circle displayed on the display device to a second shading different from the first shading. The device according to claim 3, configured as such.

5. The device according to claim 1, wherein the predetermined radius is 75 miles.

6. The device according to claim 1, wherein the at least one processor is further configured to change the detail level of the plurality of longitude-latitude coordinate pairs.

7. The device according to claim 6, wherein the at least one processor is configured to round each of the plurality of longitude-latitude coordinate pairs in order to change the detail level.

8. The at least one processor further Detect an input of a ZIP code within the predetermined radius from the given longitude-latitude pair via the graphical user interface, Upon receiving the detection of the ZIP code input via the graphical user interface, display the circle around the given longitude-latitude pair on the map. The device according to claim 1, configured as such.

9. The device according to 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.

10. Receiving, by at least one processor, a plurality of longitude-latitude coordinate pairs from a remote device, generating, by the at least one processor, a correlation between a given latitude and longitude pair and each ZIP code within a predetermined radius from the given latitude and longitude pair in a memory; displaying, by the at least one processor, on a display device a graphical user interface including a map and a circle around the given latitude and longitude pair on the map, the circle having a radius corresponding to the predetermined radius; displaying, by the at least one processor, on the display device data representing a binary option for a buyer and a seller based on whether a storm makes landfall at at least one location corresponding to one of the plurality of latitude and longitude coordinate pairs; receiving, by the at least one processor, data indicating a request to purchase the binary option; receiving, by the at least one processor, from the remote device the landfall location of the storm; identifying, by the at least one processor, whether the landfall location corresponds to a ZIP code associated with the given latitude and longitude pair in the memory; identifying whether the landfall location corresponds to a ZIP code associated with the given latitude and longitude pair in the memory, calculating a payout of the binary option based at least in part on the strength of the storm, and determining a margin requirement for the seller to maintain a margin balance of an account and preventing a sale that would increase the margin requirement of the account; A method comprising. **Claim 11** The method of claim 10, further comprising calculating a payout of the binary option for a next storm affecting the landfall location. **Claim 12** The method according to claim 10, comprising: displaying, by the at least one processor, the circle on the display device together with a first shading before the at least one processor receives data indicating a sale of the binary option. **Claim 13** The method according to claim 12, comprising: changing, by the at least one processor, the circle displayed on the display device to a second shading different from the first shading after receiving the data indicating the sale of the binary option. **Claim 14** The method according to claim 10, wherein the predetermined radius is 75 miles. **Claim 15** The method according to claim 10, comprising: changing, by the at least one processor, a level of detail of the plurality of latitude and longitude coordinate pairs. **Claim 16** The method according to claim 15, wherein changing the level of detail further comprises: rounding, by the at least one processor, each of the plurality of latitude and longitude coordinate pairs. **Claim 17** Detecting, by the at least one processor, an input of a ZIP code within the predetermined radius from the given latitude and longitude pair via the graphical user interface, The method according to claim 10, comprising: displaying, by the at least one processor, the circle around the given latitude and longitude pair on the map after receiving the detection of the ZIP code input via the graphical user interface. **Claim 18** The method according to claim 10, comprising: displaying, by the at least one processor, weather-related news corresponding to an area within the circle on the map. **Claim 19** During execution, receiving, by the at least one processor, a plurality of latitude and longitude coordinate pairs from a remote device, Generate in memory an association between a given longitude and latitude pair and each ZIP code within a predetermined radius from the given longitude and latitude pair, Display on a display device a graphical user interface including a map and a circle around the given longitude and latitude pair on the map, the circle having a radius corresponding to the predetermined radius, Based on whether a storm makes landfall at at least one location corresponding to one of the plurality of longitude and latitude coordinate pairs, display on the display device data representing a binary option for a buyer and a seller, Receive data indicating a request to purchase the binary option, Receive from the remote device the landfall location of the storm, Identify whether the landfall location corresponds to a ZIP code associated with the given longitude and latitude pair in the memory, Identify whether the landfall location corresponds to a ZIP code associated with the given longitude and latitude pair in the memory, calculate a payout of the binary option based at least in part on the strength of the storm, and Determine a margin requirement for the seller to maintain a margin balance in the account and prevent a sale that would increase the margin requirement for the account, A non-transitory computer-readable medium storing instructions that instruct at least one processor to do so.

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