SYSTEMS, METHODS, AND APPARATUS FOR CREATING AND TRADING HYBRID DERIVATIVE FINANCIAL INSTRUMENTS

摘要

Computer systems, methods, and exchanges for generating and trading novel investment products ("Vxlshares") are described. In some embodiments, the computer system comprises a computer-readable storage medium including data encoding a value for the Vxlshare based on an underlying. The computer-readable storage medium further includes data encoding an expiration date for the Vxlshare. The computer-readable storage medium of the computer further includes data encoding a price for trading the Vxlshare, the price for trading being a function of the underlying. The computer-readable storage medium also includes data encoding an alpha-numeric symbol for the Vxlshare. The computer is con gured to enable execution of trades of the Vxlshare on a platform, such as options platform, an OTC platform, or a platform especially designed for the trading of Vxlshares, on which shares of fully collateralized instruments are traded.