1. A processor-executed bond re-marketing method, comprising:
retrieving, from a bond database, a data record associated with an extensible bond from an issuer to an investor in exchange for value, wherein the data record associated with the extensible bond comprises (i) a spread to a pre-determined index, (ii) a nominal maturity date, (iii) an initial mandatory tender date prior to the nominal maturity date, and (iv) an option for the investor to extend the initial mandatory tender date during an initial decision period;
receiving in a data storage element and processing in a processor, during the initial decision period, a first indication that the investor will not extend the initial mandatory tender date associated with the extensible bond from a first investor device;
receiving a second indication reconfirming the investor will not extend the initial mandatory tender date associated with the extensible bond from the first investor device when the issuer is willing to increase the spread to the pre-determined index associated with the extensible bond; and
automatically attempting to re-market the extensible bond, without tendering a new spread associated with the extensible bond to the first investor, by transmitting information from the data record related to the extensible bond to a second investor device of a potential substitute investor when the second indication is received.
2. The method of claim 1, further comprising: if a potential substitute investor is willing to purchase the extensible bond, transferring the extensible bond from the investor to the substitute investor, wherein transferring the extensible bond from the investor to the substitute investor includes transferring to the substitute investor the investor’s option to extend the initial mandatory tender date.
3. The method of claim 1, further comprising: if no potential substitute investor is willing to purchase the extensible bond, determining if the issuer will convert a mode associated with the extensible bond.
4. The method of claim 3, wherein the mode is associated with at least one of: (i) an auction reset security, (ii) a variable rate demand bond, or (iii) a fixed instrument.
5. The method of claim 1, wherein the nominal maturity date is at least ten years, the initial mandatory tender date is substantially thirteen months from the date the extensible bond was issued, and a decision period is associated with a period substantially one year before a current tender date.
6. The method of claim 1, further comprising: arranging for the investor to receive, prior to the end of the initial decision period, a notification associated with the option to extend the initial mandatory tender date.
7. The method of claim 6, wherein the notification is associated with at least one of: (i) an electronic notification, (ii) a paper notification, (iii) an oral notification, (iv) a communication network, or (v) a graphical user interface.
8. The method of claim 1, wherein the pre-determined index is associated with at least one of: (i) the Bond Market Association Municipal Swap Index, (ii) the Standard & Poor’s J.J. Kenny Weekly High Grade Index #1, or (iii) any other pre-determined index.
9. The method of claim 1, wherein said determining if the investor will extend the initial mandatory tender date is associated with at least one of: (i) a tender agent, (ii) a depository trust company, (iii) the investor, or (iv) an issuer.
10. An apparatus, comprising:
a processor;
a communication device coupled to the processor and adapted to communicate via a communication network; and
a storage device in communication with the processor and storing instructions adapted to be executed by the processor to:
retrieve, from a bond database, a data record associated with an extensible bond from an issuer to an investor in exchange for value, wherein the data record associated with the extensible bond comprises (i) a spread to a pre-determined index, (ii) a nominal maturity date, (iii) an initial mandatory tender date prior to the nominal maturity date, and (iv) an option for the investor to extend the initial mandatory tender date during an initial decision period;
receive, from a first investor device, during the initial decision period, a first indication that the investor will not extend the initial mandatory tender date associated with the extensible bond;
receive, from the first investor device, a second indication reconfirming the investor will not extend the initial mandatory tender date associated with the extensible bond when the issuer is willing to increase the spread to the pre-determined index associated with the extensible bond; and
automatically attempt to re-market the extensible bond, without tendering a new spread associated with the extensible bond to the first investor, by transmitting information from the data record related to the extensible bond to a second investor device of a potential substitute investor when the second indication is received.
11. The apparatus of claim 10, wherein the storage device further stores at least one of: (i) an issuer database, (ii) a bond database, or (iii) an investor database.
12. The apparatus of claim 10, wherein the communication device is adapted to communicate with at least one of: (i) an issuer device, (ii) a tender agent device, (iii) a deposit trust company device, (iv) a facilitator device, (v) an investor device, or (vi) potential investor device.
13. The apparatus of claim 10, wherein execution of the stored instructions further enable the processor to: receive the indication via the communication device.
14. A computer-readable medium storing instructions adapted to be executed by a processor to perform a method, said method comprising:
retrieving, from a bond database, a data record associated with an extensible bond from an issuer to an investor in exchange for value, wherein the data record associated with the extensible bond comprises (i) a spread to a pre-determined index, (ii) a nominal maturity date, (iii) an initial mandatory tender date prior to the nominal maturity date, and (iv) an option for the investor to extend the initial mandatory tender date during an initial decision period;
receiving, from a first investor device, during the initial decision period, an indication that the investor will not extend the initial mandatory tender date associated with the extensible bond;
receiving, from the first investor device, a second indication reconfirming the investor will not extend the initial mandatory tender date associated with the extensible bond when the issuer is willing to increase the spread to the pre-determined index associated with the extensible bond and
automatically attempting to re-market the extensible bond, without tendering a new spread associated with the extensible bond to the first investor, by transmitting information from the data record related to the extensible bond to a second investor device of a potential substitute investor when the second indication is received.
15. The method of claim 14, further comprising: if a potential substitute investor is willing to purchase the extensible bond, transferring the extensible bond from the investor to the substitute investor.
16. The method of claim 14, further comprising: if no potential substitute investor is willing to purchase the extensible bond, determining if the issuer will convert a mode associated with the extensible bond.
17. The method of claim 16, wherein the mode is associated with at least one of: (i) an auction reset security, (ii) a variable rate demand bond, or (iii) a fixed instrument.
18. The method of claim 14, wherein the nominal maturity date is at least ten years, the initial mandatory tender date is substantially thirteen months from the date the extensible bond was issued, and a decision period is associated with a period substantially one year before a current tender date.
19. The method of claim 14, further comprising: arranging for the investor to receive, prior to the end of the initial decision period, a notification associated with the option to extend the initial mandatory tender date.
20. The method of claim 19, wherein the notification is associated with at least one of: (i) an electronic notification, (ii) a paper notification, (iii) an oral notification, (iv) a communication network, or (v) a graphical user interface.
21. The method of claim 14, wherein the pre-determined index is associated with at least one of: (i) the Bond Market Association Municipal Swap Index, (ii) the Standard & Poor’s J.J. Kenny Weekly High Grade Index #1, or (iii) any other pre-determined index.
22. The method of claim 14, wherein said determining if the investor will extend the initial mandatory tender date is associated with at least one of: (i) a tender agent, (ii) a depository trust company, (iii) the investor, or (iv) an issuer.
The claims below are in addition to those above.
All refrences to claim(s) which appear below refer to the numbering after this setence.
1. A computer-implemented method for designing a part, wherein the computer-implemented method comprises the steps of:
providing a surface of the part and a base curve lying on the surface of the part;
sampling the base curve into a list of base points;
determining a grid of points of perpendicular geodesic curves, the points belonging to a respective level, each level corresponding to a respective geodesic distance to the base curve, wherein each perpendicular geodesic curve lies on the surface of the part and departs perpendicularly from the base curve at a respective base point; then,
computing a plurality of parallel geodesic curves lying on the surface of the part by using the grid of points, each parallel geodesic curve corresponding to a respective level; and
displaying a representation of the part.
2. The computer-implemented method of claim 1 wherein the step of computing the plurality of parallel geodesic curves comprises:
interpolating the points of each level, or
fitting the points of each level.
3. The computer-implemented method of claim 1, wherein the computer-implemented method further comprises modifying one or more levels.
4. The computer-implemented method of claim 3, wherein:
the step of computing the plurality of parallel geodesic curves comprises interpolating the points of each level with a polygonal line, the polygonal line comprising segments formed over a sequence of points of the level; and
the modifying of one or more levels comprises discarding at least one segment of the level under modification.
5. The computer-implemented method according to claim 4, wherein the modifying of one or more levels comprises:
forming vectors corresponding to segments of the level under modification, each vector having a start point and an end point, the formed vector having a corresponding base vector, formed by two points of the base curve corresponding to the start point and the end point respectively;
evaluating if the formed vectors are oriented in a same direction as the corresponding base vectors;
upon the result of the step of evaluating, determining regular segments and irregular segments of the sequence of points of the level, an irregular segment being a segment which corresponds to a vector evaluated to be oriented in a different direction from the corresponding base vector; and
discarding the irregular segments from the level under modification.
6. The computer-implemented method according to claim 5, wherein the modifying of one or more levels further comprises:
forming vectors corresponding to segments of at least one other level, the formed vectors of the other level having corresponding base vectors;
evaluating if the formed vectors of the other level are oriented in a same direction as the corresponding base vectors;
upon the result of the step of evaluating for the other level, discarding regular segments from the level under modification.
7. The computer-implemented method according to claim 5, wherein the modifying of one or more levels further comprises:
determining an intersection between a first polygonal branch and a second polygonal branch, the intersection being the shortest line linking the first polygonal branch and the second polygonal branch; and
discarding all the segment of the first polygonal branch after the intersection and all the segments of the second polygonal branch before the intersection
wherein the first polygonal branch and the second polygonal branch, each being a sequence of regular segments of the level under modification, are separated by a sequence of previously discarded segments of the level.
8. The computer-implemented method of claim 7, wherein the modifying further comprises adding to the level under modification a leader point located on the intersection, preferably located on the middle of the intersection.
9. The computer-implemented method claim 3, wherein:
the base curve comprises a sharp vertex; and
the modifying comprises adding at least one point to the level under modification, according to the position of two points of the level corresponding to two base points of the base curve on either side of the sharp vertex.
10. The computer-implemented method according to claim 1, wherein the grid of points is dynamically refined.
11. The computer-implemented method according to claim 1, wherein the part is a composite part.
12. The computer-implemented method according to claim 1, wherein at least one parallel geodesic curve comprises a sharp vertex.
13. A computer-aided design system comprising:
a database suitable for storing parameterizations of a surface of a part and a base curve lying on the surface of the part; and
a graphical user interface adapted to design the part with a method implemented by the computer-aided design system, for designing the part, wherein the computer-implemented method comprises the steps of:
providing the surface of the part and the base curve lying on the surface of the part;
sampling the base curve into a list of base points;
determining a grid of points of perpendicular geodesic curves, the points belonging to a respective level, each level corresponding to a respective geodesic distance to the base curve, wherein each perpendicular geodesic curve lies on the surface of the part and departs perpendicularly from the base curve at a respective base point; then,
computing a plurality of parallel geodesic curves lying on the surface of the part by using the grid of points, each parallel geodesic curve corresponding to a respective level; and
displaying a representation of the part.
14. A non-transitory computer readable storage medium having recorded thereon a computer program comprising instructions for execution by a computer, the instructions comprising means for causing a computer-aided design system comprising a database, suitable for storing parameterizations of a surface of a part and a base curve lying on the surface of the part, to perform a computer-implemented method for designing the part, wherein the computer-implemented method comprises the steps of:
providing the surface of the part and the base curve lying on the surface of the part;
sampling the base curve into a list of base points;
determining a grid of points of perpendicular geodesic curves, the points belonging to a respective level, each level corresponding to a respective geodesic distance to the base curve, wherein each perpendicular geodesic curve lies on the surface of the part and departs perpendicularly from the base curve at a respective base point; then,
computing a plurality of parallel geodesic curves lying on the surface of the part by using the grid of points, each parallel geodesic curve corresponding to a respective level; and
displaying a representation of the part.