DETAILED ACTION
Notice of Pre-AIA or AIA Status
The present application, filed on or after March 16, 2013, is being examined under the first inventor to file provisions of the AIA .
Title
The title of the invention is not descriptive. A new title is required that is clearly indicative of the invention to which the claims are directed. Examiner believes that the title of the invention is imprecise. A descriptive title indicative of the invention will help in proper indexing, classifying, searching, etc. See MPEP 606.01. However, the title of the invention should be limited to 500 characters. Examiner suggests including the aspect(s) of the claims which Applicant believes to be novel or nonobvious over the prior art.
Double Patenting
The nonstatutory double patenting rejection is based on a judicially created doctrine grounded in public policy (a policy reflected in the statute) so as to prevent the unjustified or improper timewise extension of the “right to exclude” granted by a patent and to prevent possible harassment by multiple assignees. A nonstatutory double patenting rejection is appropriate where the conflicting claims are not identical, but at least one examined application claim is not patentably distinct from the reference claim(s) because the examined application claim is either anticipated by, or would have been obvious over, the reference claim(s). See, e.g., In re Berg, 140 F.3d 1428, 46 USPQ2d 1226 (Fed. Cir. 1998); In re Goodman, 11 F.3d 1046, 29 USPQ2d 2010 (Fed. Cir. 1993); In re Longi, 759 F.2d 887, 225 USPQ 645 (Fed. Cir. 1985); In re Van Ornum, 686 F.2d 937, 214 USPQ 761 (CCPA 1982); In re Vogel, 422 F.2d 438, 164 USPQ 619 (CCPA 1970); In re Thorington, 418 F.2d 528, 163 USPQ 644 (CCPA 1969).
A timely filed terminal disclaimer in compliance with 37 CFR 1.321(c) or 1.321(d) may be used to overcome an actual or provisional rejection based on nonstatutory double patenting provided the reference application or patent either is shown to be commonly owned with the examined application, or claims an invention made as a result of activities undertaken within the scope of a joint research agreement. See MPEP § 717.02 for applications subject to examination under the first inventor to file provisions of the AIA as explained in MPEP § 2159. See MPEP § 2146 et seq. for applications not subject to examination under the first inventor to file provisions of the AIA . A terminal disclaimer must be signed in compliance with 37 CFR 1.321(b).
The filing of a terminal disclaimer by itself is not a complete reply to a nonstatutory double patenting (NSDP) rejection. A complete reply requires that the terminal disclaimer be accompanied by a reply requesting reconsideration of the prior Office action. Even where the NSDP rejection is provisional the reply must be complete. See MPEP § 804, subsection I.B.1. For a reply to a non-final Office action, see 37 CFR 1.111(a). For a reply to final Office action, see 37 CFR 1.113(c). A request for reconsideration while not provided for in 37 CFR 1.113(c) may be filed after final for consideration. See MPEP §§ 706.07(e) and 714.13.
The USPTO Internet website contains terminal disclaimer forms which may be used. Please visit www.uspto.gov/patent/patents-forms. The actual filing date of the application in which the form is filed determines what form (e.g., PTO/SB/25, PTO/SB/26, PTO/AIA /25, or PTO/AIA /26) should be used. A web-based eTerminal Disclaimer may be filled out completely online using web-screens. An eTerminal Disclaimer that meets all requirements is auto-processed and approved immediately upon submission. For more information about eTerminal Disclaimers, refer to www.uspto.gov/patents/apply/applying-online/eterminal-disclaimer.
Claims 1-14 are rejected on the ground of nonstatutory double patenting as being unpatentable over U.S. Patents No. 10,891,551 (Claims 1, 14-15, 16, 28-29, 30); 10,990,886 (Claims 1-30); 11,783,213 (Claims 1-26); 12,014,290 (Claims 1-16); 12,131,268 (Claims 1-10); 12,277,509 (Claims 1-12); 12,393,853 (Claims 1-24). Although the claims at issue are not identical, they are not patentably distinct from each other because the instant application’s claims are broader than the issued parents, and/or are a rearrangement of limitations into the dependent claims.
The following is an exemplary comparison of instant claim 1 against an older preceding parent.
Instant Application: 19/269,118
Exemplary Parent 11,783,213
Explanation, if needed
1. A system comprising:
a dedicated website portal configured to generate at least one webpage;
a data forecasting system in electronic communication with one or more data sources and the dedicated website portal via at least one network, the data forecasting system configured to:
receive, via an input selection portion of the at least one webpage, user input comprising a selected time period;
capture, at one or more randomized times, one or more snapshots of data from the one or more data sources that meet a predetermined criteria;
exclude one or more of the one or more snapshots via integrity testing;
combine remaining ones of the one or more snapshots into a data set;
derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, the projected data comprising the one or more derived data values, the series of calculations including determining one or more weighted statistical values for the combined snapshots in the data set to derive a forward-looking term setting for the selected time period;
derive at least one data forecast metric associated with the data set based on the data set and the one or more derived data values over the selected time period; and
disseminate the at least one data forecast metric to the dedicated website portal, such that a projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period.
1. A system for projecting one or more trends in electronic data and generating enhanced data, comprising:
a dedicated website portal configured to generate at least one webpage comprising an input selection portion and a projected data portion;
a data forecasting system in electronic communication with one or more electronic data sources and the dedicated website portal via an electronic network, the data forecasting system comprising non-transitory memory storing computer readable instructions and at least one processor configured to execute the computer readable instructions, the data forecasting system configured to:
receive, via the input selection portion of the at least one webpage, input comprising a selected time period;
monitor the one or more electronic data sources for data that meet one or more predetermined criteria, wherein the one or more electronic data sources include multiple central limit order books;
obtain the monitored data from among the one or more electronic data sources according to at least one of:
determine one or more sub-periods within the selected time period and select a portion of the monitored data that is associated with each of the one or more sub-periods, and
take one or more snapshots of the monitored data at randomized times;
create a data set from the obtained data, wherein the data set includes overnight index swap price data;
derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, said projected data comprising said derived one or more data values;
utilize the data set and the one or more derived data values over the selected time period to derive at least one data forecast metric associated with the data set; and
disseminate the at least one data forecast metric to the dedicated website portal, such that the projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period,
wherein the data forecasting system, as part of the forward-looking term methodology, is further configured to:
take the one or more snapshots of the overnight index swap price data from among the multiple central limit order books at one or more randomized times,
exclude one or more among said obtained snapshots via integrity testing,
combine remaining snapshots among said one or more snapshots into a global synthetic order book, responsive to said exclude,
calculate, for said combined snapshots, one or more volume-weighted average mid-price (VWAMP) values, and
quality weight the one or more VWAMP values by spread to derive a forward-looking term setting for the selected time period.
#1 See below for parent’s recitation of these two limitations
#2 This instant limitation is found below in the parent
#1 Parent recitation of limitations above in instant application
#2 Parent recitation of limitations above in instant application
The following is a complete comparison of all instant claims against the most recent parent.
Instant Application: 19/269,118
Immediate Parent: 12,393,853
1. A system comprising:
a dedicated website portal configured to generate at least one webpage;
a data forecasting system in electronic communication with one or more data sources and the dedicated website portal via at least one network, the data forecasting system configured to:
receive, via an input selection portion of the at least one webpage, user input comprising a selected time period;
capture, at one or more randomized times, one or more snapshots of data from the one or more data sources that meet a predetermined criteria;
exclude one or more of the one or more snapshots via integrity testing;
combine remaining ones of the one or more snapshots into a data set;
derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, the projected data comprising the one or more derived data values, the series of calculations including determining one or more weighted statistical values for the combined snapshots in the data set to derive a forward-looking term setting for the selected time period;
derive at least one data forecast metric associated with the data set based on the data set and the one or more derived data values over the selected time period; and
disseminate the at least one data forecast metric to the dedicated website portal, such that a projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period.
1. A method for projecting one or more trends in electronic data and generating enhanced data, the method comprising:
generating, via a dedicated website portal, at least one webpage comprising an input selection portion and a projected data portion;
receiving, by a data forecasting system via the input selection portion of the at least one webpage, input comprising a selected time period;
monitoring, by the data forecasting system, one or more electronic data sources for data that meet one or more predetermined criteria;
[Found at end of claim 1]
obtaining, by the data forecasting system, the monitored data from among the one or more electronic data sources by taking one or more snapshots of the monitored data at randomized times;
creating, by the data forecasting system, a data set from the obtained data;
deriving, by the data forecasting system, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, said projected data comprising said derived one or more data values;
[See Claim 8]
utilizing, by the data forecasting system, the data set and the one or more derived data values over the selected time period to derive at least one data forecast metric associated with the data set; and
disseminating, by the data forecasting system, the at least one data forecast metric to the dedicated website portal, such that the projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period,
wherein the forward-looking term methodology further comprises:
excluding one or more among the one or more snapshots via integrity testing,
combining remaining snapshots among said one or more snapshots into a global synthetic order book, responsive to said excluding,
calculating, for said combined snapshots, one or more statistical values, and
applying a predetermined weighting to the one or more statistical values to derive a forward-looking term setting for the selected time period.
2. The system of claim 1, wherein the data set includes a combination of futures price data, overnight index swap price data and rate data.
2. The method of claim 1, wherein the data set includes a combination of futures price data, overnight index swap price data and rate data.
3. The system of claim 2, wherein the rate data comprises at least one of fixed rate data and floating rate data.
3. The method of claim 2, wherein the rate data comprises at least one of fixed rate data and floating rate data.
4. The system of claim 1, wherein the forward-looking term methodology is customized according to a type of data included in the data set.
4. The method of claim 1, wherein the forward-looking term methodology is customized according to a type of data included in the data set.
5. The system of claim 1, wherein the data forecasting system is further configured to determine one or more sub-periods within the selected time period and select a portion of the datafrom the one or more data sources that is associated with each of the one or more sub-periods, the data set further including the selected portion of the data.
5. The method of claim 1, further comprising: determining, by the data forecasting system, one or more sub-periods within the selected time period; and selecting, by the data forecasting system, a portion of the monitored data that is associated with each of the one or more sub-periods, the data set further including the selected portion of the monitored data.
6. The system of claim 5, wherein the data set includes futures price data and risk free rate data, wherein the data forecasting system, as part of the forward-looking term methodology, is further configured to: identify and select each of relevant risk free rate data and relevant futures price data associated with the selected time period from among the data set, based on predetermined eligibility criteria; determine, for the futures price data, the one or more sub-periods within the selected time period associated with at least one predicted change in the risk free rate data; imply, for each of the one or more sub-periods, one or more implied rates based on the selected relevant risk free rate data and the selected relevant futures price data; and compound the one or more implied rates to derive a further forward-looking term setting for the selected time period, the one or more derived data values further comprising the one or more implied rates and the at least one data forecast metric comprising the further forward-looking term setting.
6. The method of claim 5, wherein the data set includes futures price data and risk free rate data, wherein the forward-looking term methodology further comprises: identifying and selecting each of relevant risk free rate data and relevant futures price data associated with the selected time period from among the data set, based on predetermined eligibility criteria, determining, for the futures price data, the one or more sub-periods within the selected time period associated with at least one predicted change in the risk free rate data, implying, for each of the one or more sub-periods, one or more implied rates based on the selected relevant risk free rate data and the selected relevant futures price data, and compounding the one or more implied rates to derive a further forward-looking term setting for the selected time period, the one or more data values comprising the one or more implied rates and the at least one data forecast metric comprising the further forward-looking term setting.
7. The system of claim 6, wherein the risk free rate data includes overnight rate data.
7. The method of claim 6, wherein the risk free rate data includes overnight rate data.
8. The system of claim 1, wherein the data forecasting system is configured to store the combined snapshots of the data set in a global synthetic order book.
[End of Claim 1]
9. The system of claim 1, wherein the determining of the one or more weighted statistical values for the combined snapshots comprises: calculating, for the combined snapshots, one or more statistical values; and applying a predetermined weighting to the one or more statistical values to form the one or more weighted statistical values.
[End of Claim 1]
10. The system of claim 9, wherein the one or more data sources include multiple central limit order books, the data forecasting system, as part of the forward-looking term methodology, is further configured to: capture the one or more snapshots of overnight index swap price data from among the multiple central limit order books at the one or more randomized times; and calculate, for the combined snapshots, one or more volume-weighted average mid-price (VWAMP) values, the one or more statistical values comprising the one or more VWAMP values,wherein the predetermined weighting comprises quality weighting the one or more VWAMP values by spread to derive the forward-looking term setting for the selected time period.
8. The method of claim 1, wherein the one or more electronic data sources include multiple central limit order books, the forward-looking term methodology further comprising: taking the one or more snapshots of overnight index swap price data from among the multiple central limit order books at the randomized times; and calculating, for said combined snapshots, one or more volume-weighted average mid-price (VWAMP) values, the one or more statistical values comprising the one or more VWAMP values,wherein the predetermined weighting comprises quality weighting the one or more VWAMP values by spread to derive the forward-looking term setting for the selected time period.
11. The system of claim 1, wherein: the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data.
9. The method of claim 1, wherein: the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data.
12. The system of claim 1, wherein: the data set includes both overnight index swap price data and futures price data, and the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data, specific to each of the overnight index swap price data and the futures price data.
10. The method of claim 1, wherein: the data set includes both overnight index swap price data and futures price data, and the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data, specific to each of the overnight index swap price data and the futures price data.
13. The system of claim 1, wherein: when the data set includes futures price data, said futures price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said futures price data.
11. The method of claim 1, wherein: when the data set includes futures price data, said futures price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said futures price data.
14. The system of claim 1, wherein: when the data set includes overnight index swap price data, said overnight index swap price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said overnight index swap price data.
12. The method of claim 1, wherein: when the data set includes overnight index swap price data, said overnight index swap price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said overnight index swap price data.
Note, the double patenting rejection WILL NOT be held in abeyance, and a response to the rejection (e.g. terminal disclaimer, arguments why double patenting does not exist, etc.) is required in an answer to this Office action in order to avoid noncompliance.
Claim Objections
The following claims are objected to because of the following informalities:
Claim 1 recites data sources that meet a predetermined criteria, however the article “a” is singular while the noun “criteria” is plural.
Appropriate correction is required.
Claim Rejections - 35 USC § 112(b)
The following is a quotation of 35 U.S.C. 112(b):
(b) CONCLUSION.—The specification shall conclude with one or more claims particularly pointing out and distinctly claiming the subject matter which the inventor or a joint inventor regards as the invention.
The following is a quotation of 35 U.S.C. 112 (pre-AIA ), second paragraph:
The specification shall conclude with one or more claims particularly pointing out and distinctly claiming the subject matter which the applicant regards as his invention.
Claims 6-7 are rejected under 35 U.S.C. 112(b) or 35 U.S.C. 112 (pre-AIA ), second paragraph, as being indefinite for failing to particularly point out and distinctly claim the subject matter which the inventor or a joint inventor (or for applications subject to pre-AIA 35 U.S.C. 112, the applicant), regards as the invention. Specifically, claim 6 recites identify and select each of relevant risk free rate data and relevant futures price data. The terms relevant are indefinite. The specification does not provide a clear explanation on how to determine if the data is relevant or not.
Claim Rejections - 35 USC § 101
35 U.S.C. 101 reads as follows:
Whoever invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof, may obtain a patent therefor, subject to the conditions and requirements of this title.
Claims 1-14 are rejected under 35 U.S.C. 101 because the claimed invention is directed to an abstract idea without significantly more.
Step 1: Claim 1 is a system claim. Therefore, claims 1 is directed to either a process, machine, manufacture or composition of matter.
With respect to Claim 1:
Step 2A Prong 1:
capture, at one or more randomized times, one or more snapshots of data from the one or more data sources that meet a predetermined criteria (mental process – user can manually capture, at one or more randomized times, one or more snapshots of data from the one or more data sources that meet a predetermined criteria)
exclude one or more of the one or more snapshots via integrity testing (mental process – user can manually exclude one or more of the one or more snapshots via integrity testing)
combine remaining ones of the one or more snapshots into a data set (mental process – user can manually combine remaining ones of the one or more snapshots into a data set)
derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, the projected data comprising the one or more derived data values, the series of calculations including determining one or more weighted statistical values for the combined snapshots in the data set to derive a forward-looking term setting for the selected time period (mental process – user can manually derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, the projected data comprising the one or more derived data values, the series of calculations including determining one or more weighted statistical values for the combined snapshots in the data set to derive a forward-looking term setting for the selected time period)
derive at least one data forecast metric associated with the data set based on the data set and the one or more derived data values over the selected time period (mental process – user can manually derive at least one data forecast metric associated with the data set based on the data set and the one or more derived data values over the selected time period)
Step 2A Prong 2: This judicial exception is not integrated into a practical application. Additional elements:
a dedicated website portal configured to generate at least one webpage (mere instructions to apply the exception using a generic computer component for generic computer functions)
a data forecasting system in electronic communication with one or more data sources and the dedicated website portal via at least one network (mere instructions to apply the exception using a generic computer component for generic computer functions)
receive, via an input selection portion of the at least one webpage, user input comprising a selected time period (Adding insignificant extra-solution activity to the judicial exception - see MPEP 2106.05(g))
disseminate the at least one data forecast metric to the dedicated website portal, such that a projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period (Adding insignificant extra-solution activity to the judicial exception - see MPEP 2106.05(g))
Step 2B: The claim does not include additional elements considered individually and in combination that are sufficient to amount to significantly more than the judicial exception. Additional elements:
a dedicated website portal configured to generate at least one webpage (mere instructions to apply the exception using a generic computer component for generic computer functions)
a data forecasting system in electronic communication with one or more data sources and the dedicated website portal via at least one network (mere instructions to apply the exception using a generic computer component for generic computer functions)
receive, via an input selection portion of the at least one webpage, user input comprising a selected time period (MPEP 2106.05(d)(II) indicate that merely “storing and retrieving information in memory” or “receiving or transmitting data over a network” is a well‐understood, routine, conventional function when it is claimed in a merely generic manner (as it is in the present claim). Thereby, a conclusion that the claimed step is well-understood, routine, conventional activity is supported under Berkheimer)
disseminate the at least one data forecast metric to the dedicated website portal, such that a projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period (MPEP 2106.05(d)(II) indicate that merely “storing and retrieving information in memory” or “receiving or transmitting data over a network” is a well‐understood, routine, conventional function when it is claimed in a merely generic manner (as it is in the present claim). Thereby, a conclusion that the claimed step is well-understood, routine, conventional activity is supported under Berkheimer)
Conclusion: The claim is not patent eligible.
Regarding Claim 2: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the data set includes a combination of futures price data, overnight index swap price data and rate data.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 3: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the rate data comprises at least one of fixed rate data and floating rate data.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 4: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the forward-looking term methodology is customized according to a type of data included in the data set.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 5: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the data forecasting system is further configured to determine one or more sub-periods within the selected time period and select a portion of the data from the one or more data sources that is associated with each of the one or more sub-periods, the data set further including the selected portion of the data.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 6: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the data set includes futures price data and risk free rate data, wherein the data forecasting system, as part of the forward-looking term methodology, is further configured to:
identify and select each of relevant risk free rate data and relevant futures price data associated with the selected time period from among the data set, based on predetermined eligibility criteria;
determine, for the futures price data, the one or more sub-periods within the selected time period associated with at least one predicted change in the risk free rate data;
imply, for each of the one or more sub-periods, one or more implied rates based on the selected relevant risk free rate data and the selected relevant futures price data; and
compound the one or more implied rates to derive a further forward-looking term setting for the selected time period, the one or more derived data values further comprising the one or more implied rates and the at least one data forecast metric comprising the further forward-looking term setting.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 7: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the risk free rate data includes overnight rate data.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 8: The limitation(s), as drafted, is a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, other than the additional elements, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) includes the additional elements of wherein the data forecasting system is configured to store the combined snapshots of the data set in a global synthetic order book.
These judicial exceptions are not integrated into a practical application. The additional element(s) of wherein the data forecasting system is configured to store the combined snapshots of the data set in a global synthetic order book recite adding insignificant extra-solution activity to the judicial exception - see MPEP 2106.05(g). Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claim does not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, the additional element(s) of wherein the data forecasting system is configured to store the combined snapshots of the data set in a global synthetic order book recite merely “storing and retrieving information in memory” or “receiving or transmitting data over a network” is a well‐understood, routine, conventional function when it is claimed in a merely generic manner (as it is in the present claim) (MPEP 2106.05(d)(II)). Thereby, a conclusion that the claimed storing step is well-understood, routine, conventional activity is supported under Berkheimer. Accordingly, the claims are not patent eligible.
Regarding Claim 9: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the determining of the one or more weighted statistical values for the combined snapshots comprises:
calculating, for the combined snapshots, one or more statistical values; and
applying a predetermined weighting to the one or more statistical values to form the one or more weighted statistical values.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 10: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein the one or more data sources include multiple central limit order books, the data forecasting system, as part of the forward-looking term methodology, is further configured to:
capture the one or more snapshots of overnight index swap price data from among the multiple central limit order books at the one or more randomized times; and
calculate, for the combined snapshots, one or more volume-weighted average mid-price (VWAMP) values, the one or more statistical values comprising the one or more VWAMP values,
wherein the predetermined weighting comprises quality weighting the one or more VWAMP values by spread to derive the forward-looking term setting for the selected time period.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 11: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein: the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 12: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein: the data set includes both overnight index swap price data and futures price data, and
the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data, specific to each of the overnight index swap price data and the futures price data.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 13: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein: when the data set includes futures price data, said futures price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said futures price data.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Regarding Claim 14: The limitation(s), as drafted, are a process that, under its broadest reasonable interpretation, covers performance of the limitation(s) in the mind. That is, nothing in the claim limitation(s) precludes the step from practically being performed in the mind.
The limitation(s) encompasses the user manually wherein: when the data set includes overnight index swap price data, said overnight index swap price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said overnight index swap price data.
These judicial exceptions are not integrated into a practical application. In particular, the claims do not recite any additional elements. Accordingly, this does not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea.
The claims do not include additional elements that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, no additional elements are cited. Accordingly, the claim is not patent eligible.
Claim Rejections - 35 USC § 103
In the event the determination of the status of the application as subject to AIA 35 U.S.C. 102 and 103 (or as subject to pre-AIA 35 U.S.C. 102 and 103) is incorrect, any correction of the statutory basis (i.e., changing from AIA to pre-AIA ) for the rejection will not be considered a new ground of rejection if the prior art relied upon, and the rationale supporting the rejection, would be the same under either status.
The following is a quotation of 35 U.S.C. 103 which forms the basis for all obviousness rejections set forth in this Office action:
A patent for a claimed invention may not be obtained, notwithstanding that the claimed invention is not identically disclosed as set forth in section 102, if the differences between the claimed invention and the prior art are such that the claimed invention as a whole would have been obvious before the effective filing date of the claimed invention to a person having ordinary skill in the art to which the claimed invention pertains. Patentability shall not be negated by the manner in which the invention was made.
Claim(s) 1, 5, 8-9, 11 is/are rejected under 35 U.S.C. 103 as being unpatentable over Murthy et al. (hereinafter Murthy), U.S. Patent Application Publication 2018/0011952 in view of Markson et al. (hereinafter Markson), U.S. Patent 10,896,048 further in view of Barreira Avegliano et al. (hereinafter Barreira), U.S. Patent Application Publication 2017/0178416 further in view of Liu et al. (hereinafter Liu) On-line outlier detection and data cleaning in view of Rogerson et al. (hereinafter Rogerson), U.S. Patent 11,386,486.
Regarding Claim 1, Murthy discloses a system comprising:
a data forecasting system in electronic communication with one or more data sources and the dedicated website portal via at least one network [“The applications and computing system 100 may be configured to operate with or be implemented as a cloud-based networking system, a software as a service (SaaS) architecture, or another type of networked computing solution. In one embodiment, the computing system 100 is a centralized server-side application that provides at least the functions disclosed herein and that is accessed by many users via computing devices/terminals communicating with the computing system 100 (functioning as the server) over a computer communications network 105” ¶8; Fig. 1], the data forecasting system configured to:
derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, the projected data comprising the one or more derived data values ["implement computerized algorithms such as an autoregressive integrated moving average (ARIMA) model. In one embodiment, the ARIMA model is an ARIMA (p, d, q) model that predicts future data points (the projected values 140) in a time series for each of the instruments. In general, the projected values 140 are provided for a defined period of time (e.g., two years into the future) in order to provide an adequate forecast for assessing future profitability and risks associated with each of the instruments." ¶35], the series of calculations including determining one or more weighted statistical values for the combined snapshots in the data set to derive a forward-looking term setting for the selected time period;
derive at least one data forecast metric associated with the data set based on the data set and the one or more derived data values over the selected time period ["apply electronic algorithms to identify trends from the electronic data, and generate forecasts according to the trends" ¶6].
However, Murthy fails to explicitly disclose a dedicated website portal configured to generate at least one webpage;
receive, via an input selection portion of the at least one webpage, user input comprising a selected time period;
disseminate the at least one data forecast metric to the dedicated website portal, such that a projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period.
Markson discloses a dedicated website portal configured to generate at least one webpage ["a web portal 130 includes a persona determination module 130-1 and a user interface adaptation module 130-2. The web portal 130 is in communication with the user device 108" col, 10, lines 24-26];
receive, via an input selection portion of the at least one webpage, user input comprising a selected time period [“where the future time period is an input parameter" col. 18, line 2; "analyst may choose the future time period according to their analytical task" col. 18, lines 5-6];
disseminate the at least one data forecast metric to the dedicated website portal, such that a projected data portion of the at least one webpage is updated to display the at least one data forecast metric reflecting the selected time period [“transforms the user interface presented to the user for example, on the user device 108 according to the determined persona. In this way, the user interface presented to the user is personalized" col. 10, lines 36-39; Fig. 7].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy and Markson before him before the effective filing date of the claimed invention, to modify the prediction system of Murthy to incorporate the web portal, personalized website, and user inputted time period of Markson.
Given the advantage of ease of interaction and selecting a time period desired for the prediction, one having ordinary skill in the art would have been motivated to make this obvious modification.
However, Murthy fails to explicitly disclose capture, at one or more randomized times, one or more snapshots of data from the one or more data sources that meet a predetermined criteria.
Barreira discloses capture, at one or more randomized times, one or more snapshots of data from the one or more data sources that meet a predetermined criteria ["one or more sensors can collect data periodically, intermittently, randomly or with stochastic periodicity, for example including snapshot data corresponding to a brief period of time" ¶39; “capture data which uniquely identifies the ambient conditions of a device” ¶39];
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, and Barreira before him before the effective filing date of the claimed invention, to modify the combination to incorporate the data acquisition of Barreira.
Given the advantage of handling a large volume of data by randomly taking snapshots, one having ordinary skill in the art would have been motivated to make this obvious modification.
However, Murthy fails to explicitly disclose exclude one or more of the one or more snapshots via integrity testing;
combine remaining ones of the one or more snapshots into a data set.
Liu discloses exclude one or more of the one or more snapshots via integrity testing [“Data preprocessing is generally more difficult than filtering because it simultaneously requires identification of the data structure and estimation of the noise level so as to remove the outliers and retain “good” data.” pg. 1636, col. 1, lines 3-7];
combine remaining ones of the one or more snapshots into a data set [“Data preprocessing is generally more difficult than filtering because it simultaneously requires identification of the data structure and estimation of the noise level so as to remove the outliers and retain “good” data.” pg. 1636, col. 1, lines 3-7].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, and Liu before him before the effective filing date of the claimed invention, to modify the combination to incorporate integrity testing in the form of outlier removal of Liu.
Given the advantage of increasing prediction accuracy by removing outliers, one having ordinary skill in the art would have been motivated to make this obvious modification.
However, Murthy fails to explicitly disclose derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, the projected data comprising the one or more derived data values, the series of calculations including determining one or more weighted statistical values for the combined snapshots in the data set to derive a forward-looking term setting for the selected time period.
Rogerson discloses derive, according to a forward-looking term methodology, one or more data values associated with the data set over the selected time period, the forward-looking term methodology comprising execution of a series of calculations involving the data set, the results of which produce projected data that is predictive of future data value changes over the selected time period, the projected data comprising the one or more derived data values, the series of calculations including determining one or more weighted statistical values for the combined snapshots in the data set to derive a forward-looking term setting for the selected time period [“the current/prevailing prices of each contract, which are not yet expired and may still be continued to be traded, may be determined using volume weighted average price (VWAP), time weighted average price (TWAP), or a combination thereof, where VWAP, a measure of the average price at which a contract is traded over the trading horizon, is the ratio of the value traded to total volume traded over a particular time horizon (which is implementation dependent and in some implementations may be as little as 15 minutes)” col. 8, lines 15-25].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, and Rogerson before him before the effective filing date of the claimed invention, to modify the combination to incorporate the technical indicator of VWAP that calculates a security’s average price for the day weighed by trading volume of Rogerson.
Given the advantage of accurately analyzing price trends using a known technical indicator, one having ordinary skill in the art would have been motivated to make this obvious modification.
Regarding Claim 5, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1.
However, Murthy fails to explicitly disclose wherein the data forecasting system is further configured to determine one or more sub-periods within the selected time period and select a portion of the data from the one or more data sources that is associated with each of the one or more sub-periods, the data set further including the selected portion of the data.
Barreira discloses wherein the data forecasting system is further configured to determine one or more sub-periods within the selected time period and select a portion of the data from the one or more data sources that is associated with each of the one or more sub-periods, the data set further including the selected portion of the data ["can collect data periodically, intermittently, randomly or with stochastic periodicity, for example including snapshot data corresponding to a brief period of time" ¶39].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, and Rogerson before him before the effective filing date of the claimed invention, to modify the combination to incorporate the data acquisition of Barreira.
Given the advantage of handling a large volume of data by randomly taking snapshots, one having ordinary skill in the art would have been motivated to make this obvious modification.
Regarding Claim 8, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1. Murthy further discloses wherein the data forecasting system is configured to store the combined snapshots of the data set in a global synthetic order book [“analyzes and transforms the electronic communications into electronic data structures in a data store 125 and/or an electronic database 130” ¶10; Examiner’s Note: Specification paragraph 157 indicates a global synthetic order book is a database].
Regarding Claim 9, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1. Murthy further discloses wherein the determining of the one or more weighted statistical values for the combined snapshots comprises:
calculating, for the combined snapshots, one or more statistical values ["implement computerized algorithms such as an autoregressive integrated moving average (ARIMA) model. In one embodiment, the ARIMA model is an ARIMA (p, d, q) model that predicts future data points (the projected values 140) in a time series for each of the instruments. In general, the projected values 140 are provided for a defined period of time (e.g., two years into the future) in order to provide an adequate forecast for assessing future profitability and risks associated with each of the instruments." ¶35].
However, Murthy fails to explicitly disclose applying a predetermined weighting to the one or more statistical values to form the one or more weighted statistical values.
Rogerson discloses applying a predetermined weighting to the one or more statistical values to form the one or more weighted statistical values [“the current/prevailing prices of each contract, which are not yet expired and may still be continued to be traded, may be determined using volume weighted average price (VWAP), time weighted average price (TWAP), or a combination thereof, where VWAP, a measure of the average price at which a contract is traded over the trading horizon, is the ratio of the value traded to total volume traded over a particular time horizon (which is implementation dependent and in some implementations may be as little as 15 minutes)” col. 8, lines 15-25].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, and Rogerson before him before the effective filing date of the claimed invention, to modify the combination to incorporate the technical indicator of VWAP that calculates a security’s average price for the day weighed by trading volume of Rogerson.
Given the advantage of accurately analyzing price trends using a known technical indicator, one having ordinary skill in the art would have been motivated to make this obvious modification.
Regarding Claim 11, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1. Murthy further discloses wherein: the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data [“The electronic data relates to transactions, accounts, profits, losses, interest rates and other information for each of many different accounts.” ¶6].
Claim(s) 2-3, 12-14 is/are rejected under 35 U.S.C. 103 as being unpatentable over Murthy, Markson, Barreira, Liu, and Rogerson further in view of Lloyd, Estimating Nominal Interest Rate Expectations: Overnight Indexed Swaps and the Term Structure.
Regarding Claim 2, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1.
However, Murthy fails to explicitly disclose wherein the data set includes a combination of futures price data, overnight index swap price data and rate data.
Llyod discloses wherein the data set includes a combination of futures price data, overnight index swap price data and rate data ["An overnight index swap (OIS) is an over-the-counter traded interest rate derivative with two participating agents who agree to exchange fixed and floating interest rate payments over a notional principal for the life of the contract." §2 ¶1; “Given its features, changes in OIS rates can reasonably be associated with changes in investors' expectations of future overnight interest rates over the horizon of the contract” §2 ¶2; “understanding future interest rate expectations is important for discounting cash flows, valuing investment opportunities and engaging in profitable trade” §1 ¶1].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, Rogerson, and Lloyd before him before the effective filing date of the claimed invention, to modify the combination to incorporate the financial data of Lloyd.
Given the advantage of predicting future financial situations, one having ordinary skill in the art would have been motivated to make this obvious modification.
Regarding Claim 3, Murthy, Markson, Barreira, Liu, Rogerson, and Lloyd disclose the system of claim 2.
However, Murthy fails to explicitly disclose wherein the rate data comprises at least one of fixed rate data and floating rate data.
Lloyd discloses wherein the rate data comprises at least one of fixed rate data and floating rate data ["An overnight index swap (OIS) is an over-the-counter traded interest rate derivative with two participating agents who agree to exchange fixed and floating interest rate payments over a notional principal for the life of the contract." §2 ¶1].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, Rogerson, and Lloyd before him before the effective filing date of the claimed invention, to modify the combination to incorporate the financial data of Lloyd.
Given the advantage of predicting future financial situations, one having ordinary skill in the art would have been motivated to make this obvious modification.
Regarding Claim 12, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1. Murthy further discloses wherein: the data set includes both overnight index swap price data and futures price data, and
the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data [“The electronic data relates to transactions, accounts, profits, losses, interest rates and other information for each of many different accounts.” ¶6], specific to each of the overnight index swap price data and the futures price data.
However, Murthy fails to explicitly disclose wherein: the data set includes both overnight index swap price data and futures price data, and
the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data, specific to each of the overnight index swap price data and the futures price data.
Lloyd discloses wherein: the data set includes both overnight index swap price data and futures price data, and
the series of calculations executed by the forward-looking term methodology further involves at least one of executed transaction data, firm quote data, indicative quote data, and settlement price data, specific to each of the overnight index swap price data and the futures price data ["An overnight index swap (OIS) is an over-the-counter traded interest rate derivative with two participating agents who agree to exchange fixed and floating interest rate payments over a notional principal for the life of the contract." §2 ¶1].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, Rogerson, and Lloyd before him before the effective filing date of the claimed invention, to modify the combination to incorporate the financial data of Lloyd.
Given the advantage of predicting future financial situations, one having ordinary skill in the art would have been motivated to make this obvious modification.
Regarding Claim 13, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1.
However, Murthy fails to explicitly disclose wherein: when the data set includes futures price data, said futures price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said futures price data.
Lloyd discloses wherein: when the data set includes futures price data, said futures price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said futures price data [“a wide range of different financial market instruments and prices” §1 ¶1; “understanding future interest rate expectations is important for discounting cash flows, valuing investment opportunities and engaging in profitable trade” §1 ¶1; “following maturities: 1, 2, ..., 11 months; 1 year; 15, 18, 21 months; 2 and 3 years.” pg. 6 ¶3].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, Rogerson, and Lloyd before him before the effective filing date of the claimed invention, to modify the combination to incorporate the financial data of Lloyd.
Given the advantage of predicting future financial situations, one having ordinary skill in the art would have been motivated to make this obvious modification.
Regarding Claim 14, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1.
However, Murthy fails to explicitly disclose wherein: when the data set includes overnight index swap price data, said overnight index swap price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said overnight index swap price data.
Lloyd discloses wherein: when the data set includes overnight index swap price data, said overnight index swap price data is obtained during predetermined time intervals based on one or more predetermined conditions, specific to said overnight index swap price data ["An overnight index swap (OIS) is an over-the-counter traded interest rate derivative with two participating agents who agree to exchange fixed and floating interest rate payments over a notional principal for the life of the contract." §2 ¶1; “following maturities: 1, 2, ..., 11 months; 1 year; 15, 18, 21 months; 2 and 3 years.” pg. 6 ¶3].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, Rogerson, and Lloyd before him before the effective filing date of the claimed invention, to modify the combination to incorporate the financial data of Lloyd.
Given the advantage of predicting future financial situations, one having ordinary skill in the art would have been motivated to make this obvious modification.
Claim(s) 4 is/are rejected under 35 U.S.C. 103 as being unpatentable over Murthy, Markson, Barreira, Liu, and Rogerson further in view of Agresta et al. (hereinafter Agresta), U.S. Patent 7,747,480.
Regarding Claim 4, Murthy, Markson, Barreira, Liu, and Rogerson disclose the system of claim 1.
However, Murthy fails to explicitly disclose wherein the forward-looking term methodology is customized according to a type of data included in the data set.
Agresta discloses wherein the forward-looking term methodology is customized according to a type of data included in the data set ["In order to create the 'best record' for each processed data asset, the services 32 access the knowledge base 34 for data type-specific algorithms that enable matching and standardization using fuzzy searching and linking processes." col.3, lines 32-35].
It would have been obvious to one having ordinary skill in the art, having the teachings of Murthy, Markson, Barreira, Liu, Rogerson, and Agresta before him before the effective filing date of the claimed invention, to modify the combination to incorporate the data-type specific algorithms of Agresta.
Given the advantage of customizing the algorithm for the specific data type in order to increase model accuracy, one having ordinary skill in the art would have been motivated to make this obvious modification.
No Prior Art Rejections
For Claims 6, 7, and 10, the specific financial actions and calculations of claims 6 and 10 were not found in the prior art. Claim 7 has no prior art rejection due to its dependency on claim 6.
Examiner’s Note
The Examiner respectfully requests of the Applicant in preparing responses, to fully consider the entirety of the reference(s) as potentially teaching all or part of the claimed invention. It is noted, REFERENCES ARE RELEVANT AS PRIOR ART FOR ALL THEY CONTAIN. “The use of patents as references is not limited to what the patentees describe as their own inventions or to the problems with which they are concerned. They are part of the literature of the art, relevant for all they contain.” In re Heck, 699 F.2d 1331, 1332-33, 216 USPQ 1038, 1039 (Fed. Cir. 1983) (quoting In re Lemelson, 397 F.2d 1006, 1009, 158 USPQ 275, 277 (CCPA 1968)). A reference may be relied upon for all that it would have reasonably suggested to one having ordinary skill in the art, including non-preferred embodiments (see MPEP 2123). The Examiner has cited particular locations in the reference(s) as applied to the claim(s) above for the convenience of the Applicant. Although the specified citations are representative of the teachings of the art and are applied to the specific limitations within the individual claim(s), typically other passages and figures will apply as well.
Additionally, any claim amendments for any reason should include remarks indicating clear support in the originally filed specification.
Conclusion
Any prior art made of record and not relied upon is considered pertinent to Applicant's disclosure. Applicant is reminded that in amending in response to a rejection of claims, the patentable novelty must be clearly shown in view of the state of the art disclosed by the references cited and the objections made. Applicant must also show how the amendments avoid such references and objections. See 37 CFR §1.111(c). Additionally when amending, in their remarks Applicant should particularly cite to the supporting paragraphs in the original disclosure for the amendments.
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/R.B./ Examiner, Art Unit 2148
/MICHELLE T BECHTOLD/ Supervisory Patent Examiner, Art Unit 2148