公开(公告)号：US08392749B2

公开(公告)日：2013-03-05

申请号：US13164941

申请日：2011-06-21

申请人： Paul J. Callaway ,  Robert C. Hagemann, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

发明人： Paul J. Callaway ,  Robert C. Hagemann, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

IPC分类号： G06F11/00

CPC分类号： G06F11/1446 ,  G06F11/1474 ,  G06F11/1641 ,  G06F11/1687 ,  G06F11/1695 ,  G06F11/202 ,  G06F11/2028 ,  G06F11/2038 ,  G06F11/2046 ,  G06F11/2097 ,  G06Q40/00 ,  G06Q40/04

摘要： Fault tolerant operation is disclosed for a primary match server of a financial exchange using an active copy-cat instance, a.k.a. backup match server, that mirrors operations in the primary match server, but only after those operations have successfully completed in the primary match server. Fault tolerant logic monitors inputs and outputs of the primary match server and gates those inputs to the backup match server once a given input has been processed. The outputs of the backup match server are then compared with the outputs of the primary match server to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup match server to take over for the primary match server in a fault situation wherein the primary and backup match servers are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment. As such, the primary match server need not be specifically designed or programmed to interact with the fault tolerant mechanisms. Instead, the primary match server need only be designed to adhere to specific basic operating guidelines and shut itself down when it cannot do so. By externally controlling the ability of the primary match server to successfully adhere to its operating guidelines, the fault tolerant mechanisms of the disclosed embodiments can recognize error conditions and easily failover from the primary match server to the backup match server.

摘要翻译： 对于主要匹配服务器，通过使用活动的copy-cat实例（即备份匹配服务器）来反映在主要匹配服务器中的操作，但仅在主要匹配服务器中已经成功完成这些操作之后才能对金融交换机的主要匹配服务器进行容错操作。 容错逻辑监视主要匹配服务器的输入和输出，并在处理给定输入后将这些输入锁定到备份匹配服务器。 然后将备份匹配服务器的输出与主要匹配服务器的输出进行比较，以确保正确的操作。 所公开的实施例还涉及容错故障转移机制，允许备份匹配服务器在主要和备份匹配服务器松耦合的故障情况下接管主要匹配服务器，即，他们不需要知道它们在 容错环境。 因此，主要匹配服务器不需要特别设计或编程以与容错机制交互。 相反，主要匹配服务器只需要设计为遵守特定的基本操作指南，并在不能这样做的时候关闭它。 通过外部控制主要匹配服务器成功遵守其操作指南的能力，所公开的实施例的容错机制可以识别错误状况并且容易地从主要匹配服务器故障转移到备份匹配服务器。

公开(公告)号：US20110258109A1

公开(公告)日：2011-10-20

申请号：US13171877

申请日：2011-06-29

申请人： Paul J. Callaway ,  Michael E. Culhane, II ,  Sunil K. Cutinho ,  Frank Kmiec ,  Ari Studnitzer

发明人： Paul J. Callaway ,  Michael E. Culhane, II ,  Sunil K. Cutinho ,  Frank Kmiec ,  Ari Studnitzer

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q40/00 ,  G06Q40/025 ,  G06Q40/06 ,  G06Q40/08

摘要： Systems and method for mediating risks associated with orders in an electronic trading system are provided. A front end component includes a plurality of trading engines that receive orders from traders. A back-end component includes a match system. The system includes a credit control module, which may be located at the back-end (e.g., clearinghouse), front end, a combination thereof, or other location that communicates with the plurality of trading engines. The credit control may monitor aggregate risk parameters for the trading engines and requests credits from trading engines.

摘要翻译： 提供了与电子交易系统中的订单相关风险的调节系统和方法。 前端组件包括从交易者接收订单的多个交易引擎。 后端组件包括匹配系统。 该系统包括可以位于后端（例如，票据交换所），前端，其组合或与多个交易引擎通信的其他位置的信用控制模块。 信用控制可以监控交易引擎的总体风险参数，并从交易引擎请求信用。

公开(公告)号：US08041985B2

公开(公告)日：2011-10-18

申请号：US12560029

申请日：2009-09-15

申请人： Paul J. Callaway ,  Robert C. Hageman, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari ,  Barry L. Galster

发明人： Paul J. Callaway ,  Robert C. Hageman, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari ,  Barry L. Galster

IPC分类号： G06F11/00

CPC分类号： G06F11/1415 ,  G06F11/1641 ,  G06F11/1687 ,  G06F11/1695 ,  G06F11/2028 ,  G06F11/2038 ,  G06F11/2046 ,  G06F11/2097 ,  G06Q40/04

摘要： Fault tolerant operation is disclosed for a primary match server of a financial exchange using an active copy-cat instance, a.k.a. backup match server, that mirrors operations in the primary match server, but only after those operations have successfully completed in the primary match server. Fault tolerant logic monitors inputs and outputs of the primary match server and gates those inputs to the backup match server once a given input has been processed. The outputs of the backup match server are then compared with the outputs of the primary match server to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup match server to take over for the primary match server in a fault situation wherein the primary and backup match servers are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment. As such, the primary match server need not be specifically designed or programmed to interact with the fault tolerant mechanisms. Instead, the primary match server need only be designed to adhere to specific basic operating guidelines and shut itself down when it cannot do so. By externally controlling the ability of the primary match server to successfully adhere to its operating guidelines, the fault tolerant mechanisms of the disclosed embodiments can recognize error conditions and easily failover from the primary match server to the backup match server.

摘要翻译： 对于主要匹配服务器，通过使用活动的copy-cat实例（即备份匹配服务器）来反映在主要匹配服务器中的操作，但仅在主要匹配服务器中已经成功完成这些操作之后才能对金融交换机的主要匹配服务器进行容错操作。 容错逻辑监视主要匹配服务器的输入和输出，并在处理给定输入后将这些输入锁定到备份匹配服务器。 然后将备份匹配服务器的输出与主要匹配服务器的输出进行比较，以确保正确的操作。 所公开的实施例还涉及容错故障转移机制，允许备份匹配服务器在主要和备份匹配服务器松耦合的故障情况下接管主要匹配服务器，即，他们不需要知道它们在 容错环境。 因此，主要匹配服务器不需要特别设计或编程以与容错机制交互。 相反，主要匹配服务器只需要设计为遵守特定的基本操作指南，并在不能这样做的时候关闭它。 通过外部控制主要匹配服务器成功遵守其操作指南的能力，所公开的实施例的容错机制可以识别错误状况并且容易地从主要匹配服务器故障转移到备份匹配服务器。

公开(公告)号：US20100100475A1

公开(公告)日：2010-04-22

申请号：US12644214

申请日：2009-12-22

申请人： Paul J. Callaway ,  Robert C. Hageman, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

发明人： Paul J. Callaway ,  Robert C. Hageman, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

IPC分类号： G06F11/20 ,  G06Q40/00

CPC分类号： G06F11/1446 ,  G06F11/1474 ,  G06F11/1641 ,  G06F11/1687 ,  G06F11/1695 ,  G06F11/202 ,  G06F11/2028 ,  G06F11/2038 ,  G06F11/2046 ,  G06F11/2097 ,  G06Q40/00 ,  G06Q40/04

摘要： Fault tolerant operation is disclosed for a primary match server of a financial exchange using an active copy-cat instance, a.k.a. backup match server, that mirrors operations in the primary match server, but only after those operations have successfully completed in the primary match server. Fault tolerant logic monitors inputs and outputs of the primary match server and gates those inputs to the backup match server once a given input has been processed. The outputs of the backup match server are then compared with the outputs of the primary match server to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup match server to take over for the primary match server in a fault situation wherein the primary and backup match servers are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment. As such, the primary match server need not be specifically designed or programmed to interact with the fault tolerant mechanisms. Instead, the primary match server need only be designed to adhere to specific basic operating guidelines and shut itself down when it cannot do so. By externally controlling the ability of the primary match server to successfully adhere to its operating guidelines, the fault tolerant mechanisms of the disclosed embodiments can recognize error conditions and easily failover from the primary match server to the backup match server.

摘要翻译： 对于主要匹配服务器，通过使用活动的copy-cat实例（即备份匹配服务器）来反映在主要匹配服务器中的操作，但仅在主要匹配服务器中已经成功完成这些操作之后才能对金融交换机的主要匹配服务器进行容错操作。 容错逻辑监视主要匹配服务器的输入和输出，并在处理给定输入后将这些输入锁定到备份匹配服务器。 然后将备份匹配服务器的输出与主要匹配服务器的输出进行比较，以确保正确的操作。 所公开的实施例还涉及容错故障转移机制，允许备份匹配服务器在主要和备份匹配服务器松耦合的故障情况下接管主要匹配服务器，即，他们不需要知道它们在 容错环境。 因此，主要匹配服务器不需要特别设计或编程以与容错机制交互。 相反，主要匹配服务器只需要设计为遵守特定的基本操作指南，并在不能这样做的时候关闭它。 通过外部控制主要匹配服务器成功遵守其操作指南的能力，所公开的实施例的容错机制可以识别错误状况并且容易地从主要匹配服务器故障转移到备份匹配服务器。

公开(公告)号：US07694170B2

公开(公告)日：2010-04-06

申请号：US12188474

申请日：2008-08-08

申请人： Paul J. Callaway ,  Robert C. Hagemann, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

发明人： Paul J. Callaway ,  Robert C. Hagemann, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

IPC分类号： G06F11/00

CPC分类号： G06F11/1446 ,  G06F11/1474 ,  G06F11/1641 ,  G06F11/1687 ,  G06F11/1695 ,  G06F11/202 ,  G06F11/2028 ,  G06F11/2038 ,  G06F11/2046 ,  G06F11/2097 ,  G06Q40/00 ,  G06Q40/04

摘要： Fault tolerant operation is disclosed for a primary match server of a financial exchange using an active copy-cat instance, a.k.a. backup match server, that mirrors operations in the primary match server, but only after those operations have successfully completed in the primary match server. Fault tolerant logic monitors inputs and outputs of the primary match server and gates those inputs to the backup match server once a given input has been processed. The outputs of the backup match server are then compared with the outputs of the primary match server to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup match server to take over for the primary match server in a fault situation wherein the primary and backup match servers are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment. As such, the primary match server need not be specifically designed or programmed to interact with the fault tolerant mechanisms. Instead, the primary match server need only be designed to adhere to specific basic operating guidelines and shut itself down when it cannot do so. By externally controlling the ability of the primary match server to successfully adhere to its operating guidelines, the fault tolerant mechanisms of the disclosed embodiments can recognize error conditions and easily failover from the primary match server to the backup match server.

摘要翻译： 对于主要匹配服务器，通过使用活动的copy-cat实例（即备份匹配服务器）来反映在主要匹配服务器中的操作，但仅在主要匹配服务器中已经成功完成这些操作之后才能对金融交换机的主要匹配服务器进行容错操作。 容错逻辑监视主要匹配服务器的输入和输出，并在处理给定输入后将这些输入锁定到备份匹配服务器。 然后将备份匹配服务器的输出与主要匹配服务器的输出进行比较，以确保正确的操作。 所公开的实施例还涉及容错故障转移机制，允许备份匹配服务器在主要和备份匹配服务器松耦合的故障情况下接管主要匹配服务器，即，他们不需要知道它们在 容错环境。 因此，主要匹配服务器不需要特别设计或编程以与容错机制交互。 相反，主要匹配服务器只需要设计为遵守特定的基本操作指南，并在不能这样做的时候关闭它。 通过外部控制主要匹配服务器成功遵守其操作指南的能力，所公开的实施例的容错机制可以识别错误状况并且容易地从主要匹配服务器故障转移到备份匹配服务器。

公开(公告)号：US20100017647A1

公开(公告)日：2010-01-21

申请号：US12560029

申请日：2009-09-15

申请人： Paul J. Callaway ,  Robert C. Hagemann, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari ,  Barry L. Galster

发明人： Paul J. Callaway ,  Robert C. Hagemann, III ,  Zuber Shethwala ,  Troy Reece ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari ,  Barry L. Galster

IPC分类号： G06F11/20 ,  G06F11/07

CPC分类号： G06F11/1415 ,  G06F11/1641 ,  G06F11/1687 ,  G06F11/1695 ,  G06F11/2028 ,  G06F11/2038 ,  G06F11/2046 ,  G06F11/2097 ,  G06Q40/04

摘要： Fault tolerant operation is disclosed for a primary match server of a financial exchange using an active copy-cat instance, a.k.a. backup match server, that mirrors operations in the primary match server, but only after those operations have successfully completed in the primary match server. Fault tolerant logic monitors inputs and outputs of the primary match server and gates those inputs to the backup match server once a given input has been processed. The outputs of the backup match server are then compared with the outputs of the primary match server to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup match server to take over for the primary match server in a fault situation wherein the primary and backup match servers are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment. As such, the primary match server need not be specifically designed or programmed to interact with the fault tolerant mechanisms. Instead, the primary match server need only be designed to adhere to specific basic operating guidelines and shut itself down when it cannot do so. By externally controlling the ability of the primary match server to successfully adhere to its operating guidelines, the fault tolerant mechanisms of the disclosed embodiments can recognize error conditions and easily failover from the primary match server to the backup match server.

摘要翻译： 对于主要匹配服务器，通过使用活动的copy-cat实例（即备份匹配服务器）来反映在主要匹配服务器中的操作，但仅在主要匹配服务器中已经成功完成这些操作之后才能对金融交换机的主要匹配服务器进行容错操作。 容错逻辑监视主要匹配服务器的输入和输出，并在处理给定输入后将这些输入锁定到备份匹配服务器。 然后将备份匹配服务器的输出与主要匹配服务器的输出进行比较，以确保正确的操作。 所公开的实施例还涉及容错故障转移机制，允许备份匹配服务器在主要和备份匹配服务器松耦合的故障情况下接管主要匹配服务器，即，他们不需要知道它们在 容错环境。 因此，主要匹配服务器不需要特别设计或编程以与容错机制交互。 相反，主要匹配服务器只需要设计为遵守特定的基本操作指南，并在不能这样做的时候关闭它。 通过外部控制主要匹配服务器成功遵守其操作指南的能力，所公开的实施例的容错机制可以识别错误状况并且容易地从主要匹配服务器故障转移到备份匹配服务器。

公开(公告)号：US20090234776A1

公开(公告)日：2009-09-17

申请号：US12437878

申请日：2009-05-08

申请人： Paul Andrew Bauerschmidt ,  Ari L. Studnitzer ,  William J. Albert ,  Lori Flemm ,  Paul J. Callaway ,  James W. Farrell ,  A. Shanthi Thiruthuvadoss

发明人： Paul Andrew Bauerschmidt ,  Ari L. Studnitzer ,  William J. Albert ,  Lori Flemm ,  Paul J. Callaway ,  James W. Farrell ,  A. Shanthi Thiruthuvadoss

IPC分类号： G06Q40/00 ,  G06N5/02

CPC分类号： G06Q40/04 ,  G06Q10/10 ,  G06Q20/381 ,  G06Q40/00 ,  G06Q40/02 ,  G06Q40/025 ,  G06Q40/06 ,  G06Q40/08

摘要： The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.

摘要翻译： 所披露的系统和方法涉及允许在集中式配对清算机制（例如芝加哥商品交易所（CME））期货交易柜台（“OTC”）外汇交易（“外汇”）合约 交换系统（“交换”）。 所披露的系统和方法允许匿名交易，集中清算，有效结算和提供风险管理/信用审查机制，降低风险，降低交易成本，提高外汇市场的流动性。 特别地，所公开的实施例增加执行速度，促进对算法交易的日益增长的需求，增加的价格透明度，降低交易成本，客户到客户交易以及自动资产分配，经常性交易以及结算和结算效率。

公开(公告)号：US07480827B2

公开(公告)日：2009-01-20

申请号：US11502998

申请日：2006-08-11

申请人： Paul J. Callaway ,  Robert Hagemann, III ,  Zuber Shethwala ,  Troy Reese ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

发明人： Paul J. Callaway ,  Robert Hagemann, III ,  Zuber Shethwala ,  Troy Reese ,  Paul Andrew Bauerschmidt ,  Enrico Ferrari

IPC分类号： G06F11/00 ,  G06F11/14

CPC分类号： G06F11/2097 ,  G06F11/1479 ,  G06F11/1641 ,  G06F11/1687 ,  G06F11/1695 ,  G06F11/2028 ,  G06F11/2038 ,  G06F11/2046

摘要： Fault tolerant operation is disclosed for a primary instance, such as a process, thread, application, processor, etc., using an active copy-cat instance, a.k.a. backup instance, that mirrors operations in the primary instance, but only after those operations have successfully completed in the primary instance. Fault tolerant logic monitors inputs and outputs of the primary instance and gates those inputs to the backup instance once a given input has been processed. The outputs of the backup instance are then compared with the outputs of the primary instance to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup instance to take over for the primary instance in a fault situation wherein the primary and backup instances are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment. As such, the primary instance need not be specifically designed or programmed to interact with the fault tolerant mechanisms. Instead, the primary instance need only be designed to adhere to specific basic operating guidelines and shut itself down when it cannot do so. By externally controlling the ability of the primary instance to successfully adhere to its operating guidelines, the fault tolerant mechanisms of the disclosed embodiments can recognize error conditions and easily failover from the primary instance to the backup instance.

摘要翻译： 对于主要实例（例如进程，线程，应用程序，处理器等），使用反映主要实例中的操作的活动副本 - 实例（也称为备份实例），但仅在这些操作具有 在初级实例中成功完成。 容错逻辑监控主实例的输入和输出，并且一旦处理了给定的输入，就将这些输入输入到备份实例。 然后将备份实例的输出与主实例的输出进行比较，以确保正确的操作。 所公开的实施例还涉及容错故障转移机制，允许备份实例在主要和备份实例松耦合的故障情况下接管主要实例，即，他们不需要意识到它们在容错环境中运行 。 因此，主要实例不需要特别设计或编程以与容错机制交互。 相反，主要实例只需要设计为遵守特定的基本操作指南，并在不能这样做的时候关闭它。 通过外部控制主实例成功遵守其操作指南的能力，所公开实施例的容错机制可以识别错误状况并且容易地从主实例故障转移到备份实例。

公开(公告)号：US20130041801A1

公开(公告)日：2013-02-14

申请号：US13534416

申请日：2012-06-27

申请人： Brian M. Wolf ,  John F. Curran ,  James W. Farrell ,  Paul J. Callaway ,  Barry L. Galster ,  Andrew Milne ,  Giuseppe Scimeca ,  Pearce Peck-Walden ,  James Wilcox

发明人： Brian M. Wolf ,  John F. Curran ,  James W. Farrell ,  Paul J. Callaway ,  Barry L. Galster ,  Andrew Milne ,  Giuseppe Scimeca ,  Pearce Peck-Walden ,  James Wilcox

IPC分类号： G06Q40/04

CPC分类号： G06Q40/04

摘要： An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and/or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.

摘要翻译： 电子交易系统使用匹配引擎来接收订单，在内部存储，计算可交易的组合，并以市场数据的形式公布真实和隐含的订单的可用性。 定义为其他可交易项目组合的新交易项目可能包括在可交易组合的计算中。 因此，当市场因为不期望或不必要的时候，公开了一种用于抑制计算和/或随后列出隐含订单的技术。

公开(公告)号：US20120084195A1

公开(公告)日：2012-04-05

申请号：US13324786

申请日：2011-12-13

申请人： Paul Andrew Bauerschmidt ,  Ari L. Studnizer ,  William J. Albert ,  Lori Flemm ,  Paul J. Callaway ,  James W. Farrell ,  A. Shanthi Thiruthuvadoss

发明人： Paul Andrew Bauerschmidt ,  Ari L. Studnizer ,  William J. Albert ,  Lori Flemm ,  Paul J. Callaway ,  James W. Farrell ,  A. Shanthi Thiruthuvadoss

IPC分类号： G06Q40/04

CPC分类号： G06Q40/04 ,  G06Q10/10 ,  G06Q20/381 ,  G06Q40/00 ,  G06Q40/02 ,  G06Q40/025 ,  G06Q40/06 ,  G06Q40/08

摘要： The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.

摘要翻译： 所披露的系统和方法涉及允许在集中式配对清算机制（例如芝加哥商品交易所（CME））期货交易柜台（“OTC”）外汇交易（“外汇”）合约 交换系统（“交换”）。 所披露的系统和方法允许匿名交易，集中清算，有效结算和提供风险管理/信用审查机制，降低风险，降低交易成本，提高外汇市场的流动性。 特别地，所公开的实施例增加执行速度，促进对算法交易的日益增长的需求，增加的价格透明度，降低交易成本，客户到客户交易以及自动资产分配，经常性交易以及结算和结算效率。