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WhenTech Awarded U.S. Patent for Method of Evaluating an Option Spread
Thursday, April 21, 2011
New York, NY -- WhenTech LLC, the premier provider of option pricing and risk management solutions to the commodities futures industry, announced that on April 19, 2011, the U.S. Patent and Trademark Office issued Patent No. 7,930,227 for "Method of Evaluating an Option Spread."
The patent covers systems and methods incorporated in WhenTech Markets®, the company's pricing, analytics and risk management platform, that enable a user to intuitively and easily construct an option spread by clicking on a sequence of option legs, which are recognized as comprising a commonly traded type of option spread strategy.
Dave Wender, Founder and CEO of WhenTech, and the sole inventor of the patent, said, "We are pleased that the U.S. Patent and Trademark Office has confirmed the unique and innovative systems and methods behind WhenTech Markets® that enable our customers to quickly price and analyze the impact of option strategies. Since the advent of my invention, we have strived to continuously build on and improve our implementation to meet the ever-changing and increasingly complex needs of options traders, market-makers, risk managers, exchanges, clearing firms and the commodities and futures community in general."
WhenTech Markets® is an advanced option pricing and risk management platform, offering sophisticated analytical and pricing tools with a simple-yet-powerful user interface, featuring a patented system and method, allowing quick, point-and-click pricing for nearly all options/futures spreads. WhenTech Markets® can be optimized for either the desktop or the trading floor, and supports approximately 250 commodities traded on most major exchanges.
WhenTech LLC is a leading provider of technology, software and information services to the commodities industry, including traders, brokers and various exchanges throughout the world. Through its core pricing and risk management software, WhenTech Markets®, the Company is truly defining "The Future of Options®". WhenTech is headquartered in New York City, with on-site customer support offices at CME/CBOT in Chicago and NYMEX in New York. Learn more about WhenTech and take a tour of WhenTech Markets® at www.whentech.com, or visit our blog at http://blog.whentech.com.
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