Collateralized lending using a central counterparty

Abstract

A lending machine can include a communications device to receive a first request relating to a first loan transaction. The first loan transaction can include a long or a short Special Repo Futures (SRF) contract where a supply of the asset is below a supply threshold, otherwise the first loan transaction can include a long or a short General Repo Futures (GRF) contract. The communications device can also be configured to receive a second request for a second loan transaction at least partially counter to the first loan transaction. The lending machine can also include a matching device configured to match the first request with the second request. The lending machine can also include a trader device configured to perform a transaction corresponding to the first and the second request.

1 .- 20 . (canceled) 
     
     
         21 . An apparatus, comprising:
 a communications device configured to:   receive a first request for a first loan transaction relating to a loan of an asset for a specified duration, the first loan transaction including a long or a short Special Repo Futures (SRF) contract where a supply of the asset is below a supply threshold, otherwise the first loan transaction including a long or a short General Repo Futures (GRF) contract, wherein the GRF contract includes a long position paying a notional value in cash and a short position securing borrowing by posting a general collateral equal in value to the notional value, wherein the first request is from a first entity; and   receive a second request for a second loan transaction at least partially counter to the first loan transaction, wherein the second request is from a second entity;   a matching device communicatively coupled to the communications device, the matching device configured to match the first request with the second request; and   a trader device communicatively coupled to the matching device, the trader device configured to:   perform the first loan transaction between the first entity and an intermediary; and   perform the second loan transaction between the second entity and the intermediary.   
     
     
         22 . The apparatus of  claim 21 , wherein one of the first and the second loan transactions comprises a lending of at least a portion of the asset and wherein the other of the first and the second loan transactions comprises a borrowing of at least a portion of the asset. 
     
     
         23 . The apparatus of  claim 21 , wherein the general collateral comprises one of cash or a security. 
     
     
         24 . The apparatus of  claim 21 , wherein the general collateral is held by the intermediary. 
     
     
         25 . The apparatus of  claim 21 , wherein the general collateral is a first collateral, and wherein the first collateral is exchanged for a second collateral without notifying the first and the second entities. 
     
     
         26 . The apparatus of  claim 21 , wherein the first and the second load transactions each include a fee, the fee based on the specified duration. 
     
     
         27 . The apparatus of  claim 26 , wherein the trader device is further configured to swap out the intermediary. 
     
     
         28 . A system, comprising:
 a communications circuit configured to:   receive a first request for a first loan transaction relating to a loan of an asset, the first loan transaction including a long or a short Special Repo Futures (SRF) contract where a supply of the asset is below a supply threshold, otherwise the first loan transaction including a long or a short General Repo Futures (GRF) contract, wherein the GRF contract includes a long position paying a notional value in cash and a short position securing borrowing by posting a general collateral equal in value to the notional value, wherein the first request is from a first entity; and   receive a second request for a second loan transaction at least partially counter to the first loan transaction, wherein the second request is from a second entity;   a matching circuit communicatively coupled to the communications circuit, the matching circuit configured to match the first request with the second request; and   a trader circuit communicatively coupled to the matching circuit, the trader circuit configured to:   perform the first loan transaction between the first entity and an intermediary; and   perform the second loan transaction between the second entity and the intermediary.   
     
     
         29 . The system of  claim 28 , wherein one of the first and the second loan transactions comprises a lending of at least a portion of the asset and wherein the other of the first and the second loan transactions comprises a borrowing of at least a portion of the asset. 
     
     
         30 . The system of  claim 28 , wherein the general collateral comprises one of cash or a security. 
     
     
         31 . The system of  claim 28 , wherein the general collateral is held by the intermediary. 
     
     
         32 . The system of  claim 28 , wherein the general collateral is a first collateral, and wherein the first collateral is exchanged for a second collateral without notifying the first and the second entities. 
     
     
         33 . The system of  claim 28 , wherein the first and the second load transactions each include a respective specified duration and a fee based on the specified durations. 
     
     
         34 . The system of  claim 28 , wherein the trader circuit is further configured to swap out the intermediary. 
     
     
         35 . A non-transitory computer readable medium, comprising:
 first instructions executable by a processing device to receive a first request for a first loan transaction relating to a loan of an asset, the first loan transaction including a long or a short Special Repo Futures (SRF) contract where a supply of the asset is below a supply threshold, otherwise the first loan transaction including a long or a short General Repo Futures (GRF) contract, wherein the GRF contract includes a long position paying a notional value in cash and a short position securing borrowing by posting a general collateral equal in value to the notional value, wherein the first request is from a first entity;   second instructions executable by a processing device to receive a second request for a second loan transaction at least partially counter to the first loan transaction, wherein the second request is from a second entity;   third instructions executable by a processing device to match the first request with the second request; and   fourth instructions executable by a processing device to perform the first and the second loan transactions between the first and the second entities.   
     
     
         36 . The non-transitory computer readable medium of  claim 35 , wherein one of the first and the second loan transactions comprises a lending of at least a portion of the asset and wherein the other of the first and the second loan transactions comprises a borrowing of at least a portion of the asset. 
     
     
         37 . The non-transitory computer readable medium of  claim 35 , wherein the general collateral comprises one of cash or a security. 
     
     
         38 . The non-transitory computer readable medium of  claim 35 , wherein the general collateral is a first collateral, and wherein the first collateral is exchanged for a second collateral without notifying the first and the second entities. 
     
     
         39 . The non-transitory computer readable medium of  claim 35 , wherein the first and the second load transactions each include a respective specified duration. 
     
     
         40 . The non-transitory computer readable medium of  claim 39 , wherein a fee is based on the specified durations.