Patent decision

BL number

O/0873/23

Concerning rights in

GB2107804.3

Hearing Officer

Mr B Buchanan

Decision date

15 September 2023

Person(s) or Company(s) involved

Australian Bond Exchange Holdings Limited

Provisions discussed

1(2)(c)

Keywords

Excluded fields (refused)

Related Decisions

None

Summary

The claimed application relates to the settlement of trades in an exchange. The trades may relate to securities such as stocks, cash or derivatives. In the prior art trades are cleared after the transaction is agreed which invokes cost, risk and delay. The claimed invention implements real-time settlement of deals by requiring clients to pre-register including validation of their position. The applicant argued that as a consequence of the system enabling the real-time settlement of trades, technical prejudice is overcome, risk and margin are reduced, and the requirement for delayed batch-processing is removed. This results in more efficient completion of deals and means that processing steps and hardware required for current clearing and settlement of trades are obviated which provides a technical effect.

The Hearing Officer applied the AerotelMacrossan test and considered the HTC/Apple signposts. He concluded that the claimed invention related to a method for doing business and program for a computer as such and was excluded from patentability under section 1(2)(c). The application was refused under section 18(3).

Full decision O/0873/23 355Kb