Invention Grant
- Patent Title: System and method for using order modifiers in relation to trading strategies
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Application No.: US15977614Application Date: 2018-05-11
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Publication No.: US10796365B2Publication Date: 2020-10-06
- Inventor: Patricia A. Messina , Bharat Mittal
- Applicant: Trading Technologies International, Inc.
- Applicant Address: US IL Chicago
- Assignee: Trading Technologies International, Inc.
- Current Assignee: Trading Technologies International, Inc.
- Current Assignee Address: US IL Chicago
- Agency: McDonnell Boehnen Hulbert & Berghoff LLP
- Main IPC: G06Q40/04
- IPC: G06Q40/04 ; G06Q40/06

Abstract:
A quantity modifier and a price modifier are provided for a spread trading strategy having a desired spread price and a desired spread quantity. According to an example embodiment, a quantity modifier divides the desired spread quantity into a plurality of disclosed spread quantities. Once the disclosed quantities are determined, a plurality of disclosed spread orders having the disclosed spread quantities are sequentially submitted to the market until the full desired spread order quantity is executed or until a predefined condition is detected. A price modifier determines a price level for each disclosed spread quantity, such that each disclosed spread order may be submitted at a different price level.
Public/Granted literature
- US20180260898A1 System and Method for Using Order Modifiers in Relation to Trading Strategies Public/Granted day:2018-09-13
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