Yeah, that's indeed a very good idea, thx. So, with this product idea in my pocket I can offer it to the companies and also apply for a good job position in the finance world (btw, I haven't worked for others in the finance world yet, just for myself as a little trader). As said, this new trading vehicle does not necessarily replace the current ones (though it very well can ). So, it's an alternative to current ones. If people see the maths behind it and its advantage then I'm sure this one will win the hearts of the traders by storm, and quickly overtake the currently used one.
Uhhh something tells me its not that ummm sophisticated. A futures on options maybe. Huh? Wait a sec - where is that patent office located?
Let me guess. Something like a PALL. A hydrid between a put and a call, where you are entering a spread but with one single contract, at same expiry and strike, with some sort of offsetting premium v. cost.
File a patent and then send your white paper to Bluford Putnam at the CME. He is the Chief Economist. His team provides that intellectual backing for every product the CME Marketing team dreams up. To make the idea fly, you will need both groups. It's what they do. And yes, they have considered everything including the 6 minute abs.
so let me guess: no data on your new invention, no one can see it, and it does not have a name. Let us call it SCAM 007 for now, good?
The guy could be the long awaited "second coming" of Leo Melamed. That means exchange Chairman and Chairman Emeritus until death. Maybe a Nobel Prize. I would rather make gazillions trading to the model with synthetically equivalent positions. He is holding his cards close to his chest.
Ever heard some say about someone smart: "he could be the next Einstein"? There has never been a 2nd Einstein or even close; no exchange Chairman and Chairman Emeritus until death. Maybe a Nobel Prize, just nothing and hot air. Long live Scam 007 in the smallest minds we have.
Why would it be a scam when he doesn’t need you? Do you feel scammed? And no one needs to see it, just like no one sees my trades or your trades. In fact, indeed he shouldn’t show it to anyone until he has a patent filed, or decides to publish without it if cannot afford it. @thecoder , maybe look for some comparable patents that can be adapted. Options are too old to be patented, but you could find some options-related patents, and maybe VIX patent could be adapted: https://patents.google.com/patent/US20150039532A1/en