| 摘要 |
<p>A collateralized lending system and method using a central counterparty is disclosed. The central counterparty anonymously matches counter-orders from one or more borrowers and one or more lenders and facilitates, at the settlement/delivery date, the lending transaction by novating itself into the matched transaction between the borrower(s) and the lender(s), i e the lender(s) tenders the asset, or portion thereof, to the central counterparty, such as to a clearing entity operated by the central counterparty, and the central counterparty/clearing entity loans/delivers the asset, or portion thereof, or a substantial equivalent, to the borrower. In one embodiment, the central counterparty/clearing entity may collect collateral from the borrower in exchange for loan. Upon expiration of the loan, the central counterparty/clearing entity facilitates redemption of the loan, return of the collateral, repayment by the central counterparty to the lender, and collection/payment of interest, etc.</p> |
