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公开(公告)号：US20060218071A1
公开(公告)日：2006-09-28
申请号：US11091137
申请日：2005-03-28
Applicant: Michael Sweeting
Inventor： Michael Sweeting
IPC: G06Q40/00
Abstract: A method for managing electronic trading is provided. In an electronic market having trade matching rules, a plurality of first orders each associated with an account are received. A contra order is also received at the electronic market. For each of one or more first orders, it is electronically determined whether that order is a related first order by determining whether the account associated with that order has a particular relationship with the particular account associated with the contra order. Without intentionally introduced delay, one or more particular first orders, including one or more related first orders, are electronically determined to trade with the contra order based at least on the trade matching rules and the determination of related first orders. One or more trades between the one or more particular first orders and the contra order are automatically executed.
Abstract translation: 提供了一种管理电子交易的方法。 在具有交易匹配规则的电子市场中，接收与帐户相关联的多个第一订单。 电子市场也收到了相应的订单。 对于一个或多个第一订单中的每一个，通过确定与该订单相关联的帐户是否与与反向订单相关联的特定帐户具有特定关系，以电子方式确定该订单是否是相关的第一订单。 在没有故意引入延迟的情况下，至少基于交易匹配规则和相关第一订单的确定，电子地确定一个或多个特定的第一订单，包括一个或多个相关的第一订单以与违约订单进行交易。 自动执行一个或多个特定第一订单与反向订单之间的一个或多个交易。
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22.发明申请公开(公告)号：US20050216393A1
公开(公告)日：2005-09-29
申请号：US11090558
申请日：2005-03-23
Applicant: Howard Lutnick , Michael Sweeting
Inventor： Howard Lutnick , Michael Sweeting
CPC classification number: G06Q40/04
Abstract: Systems and methods for implementing transaction management of trading of financial instruments. The systems and methods provide controlling logic that is implemented on a distributed computer network linking together a plurality of user workstations. The controlling logic rewards market-makers by allowing them to participate in trading the instrument before or after the first buyers/sellers and contra-traders of the instrument and allowing broader participation in transacting the purchase and sale of different instruments.
Abstract translation: 实施金融工具交易交易管理的制度和方法。 这些系统和方法提供了在连接在一起的多个用户工作站的分布式计算机网络上实现的控制逻辑。 控制逻辑通过允许他们在仪器的首次买卖双方交易者之前或之后参与交易该仪器，并允许更广泛地参与交易购买和销售不同仪器，来奖励市场人士。
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23.发明申请Systems and methods for providing enhanced volume-weighted average price trading 有权提供加权平均价格交易的系统和方法公开(公告)号：US20050149426A1
公开(公告)日：2005-07-07
申请号：US10966526
申请日：2004-10-15
Applicant: Philipp Jokisch , Michael Sweeting
Inventor： Philipp Jokisch , Michael Sweeting
Abstract: Systems and methods for providing trading using an eVWAP price in an illiquid market are provided. In an illiquid market there may be little or no actual trades. During a trading period, the eVWAP price is therefore determined from not only trades, but also unmatched bids and offers. The eVWAP price is determined when new information becomes available or at a specified time interval. The final eVWAP price is determined when the sampling period ends. Once the final eVWAP price is determined, the value of the final eVWAP price is published for use as a price to settle a contract.
Abstract translation: 提供了在非流动市场中使用eVWAP价格提供交易的系统和方法。 在一个流动不足的市场，可能很少或根本没有实际的交易。 在交易期间，eVWAP的价格不仅由交易决定，而且也是无与伦比的出价和优惠。 当新信息可用或以指定的时间间隔确定eVWAP价格。 最终的eVWAP价格是在采样期结束时确定的。 一旦确定了最终的eVWAP价格，最终eVWAP价格的价值将被公布为一种价格来解决合同。
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24.发明申请公开(公告)号：US20050091142A1
公开(公告)日：2005-04-28
申请号：US10694872
申请日：2003-10-28
Applicant: Nigel Renton , Michael Sweeting
Inventor： Nigel Renton , Michael Sweeting
CPC classification number: G06Q40/04
Abstract: According to one embodiment, a method of managing trading is provided. A first bid for a first instrument is received from a first market maker at a first bid price. A first offer for the first instrument is received from a second market maker at a first offer price, the first offer price being lower than the first bid price. As a result of the first offer price being lower than the first bid price, the first bid price is automatically decreased to match the first offer price, and a first timer having a predetermined duration is started. If the first timer expires and both the first bid and the first offer exist at the first offer price when the first timer expires, a trade between the first bid and the first offer is automatically executed.
Abstract translation: 根据一个实施例，提供了管理交易的方法。 以第一个投标价格从第一个制造商收到第一个工具的首次投标。 第一笔票据的第一笔报价以第一个报价价格从第二个制造商收到，第一个报价低于第一个报价。 由于第一报价价格低于第一投标价格，第一投标价格自动降低以匹配第一报价价格，并且开始具有预定持续时间的第一定时器。 如果第一定时器到期，并且当第一定时器到期时，第一出价和第一报价都以第一报价价格存在，则自动执行第一出价和第一报价之间的交易。
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公开(公告)号：USD504131S1
公开(公告)日：2005-04-19
申请号：US29180621
申请日：2003-04-24
Applicant: Howard W. Lutnick , Joseph Noviello , Michael Sweeting , Lee Amaitis , Jim Johnson
Designer： Howard W. Lutnick , Joseph Noviello , Michael Sweeting , Lee Amaitis , Jim Johnson
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Patent Agency Ranking
公开(公告)号：US20050055305A1
公开(公告)日：2005-03-10
申请号：US10938143
申请日：2004-09-10
Applicant: Howard Lutnick , Michael Sweeting
Inventor： Howard Lutnick , Michael Sweeting
CPC classification number: G06Q40/04
Abstract: An electronic trading system including various rules is described herein. Many of the rules relate to implementing periods of exclusive priority in trading. For example, in one of the rules, an exclusive period of trading may be controlled by an aggressor and a designated passive participant. The aggressor may have exclusive rights on his side of the trade at a particular price point for a particular time. The aggressor may elect to change the price point at which he controls the trade to a new price point which is more favorable to him. Thereafter, another participant may assume the exclusivity of the trade by entering the trade on the same side of the aggressor at the old price point. In so doing, the other participant also preferably truncates the aggressor's exclusivity at the new price point.
Abstract translation: 本文描述了包括各种规则的电子交易系统。 许多规则涉及实施交易中排他优先权的时期。 例如，在其中一个规则中，排他性交易期可以由侵略者和指定的被动参与者来控制。 侵略者在某一特定时间可能在特定价格点上拥有他对该行业的专有权。 侵略者可以选择将他控制交易的价格点改为更有利于他的新价格点。 此后，另一位参与者可以以旧价格点在侵略者的同一侧进入交易来承担交易的排他性。 在这样做的时候，另一个参与者也最好在新的价格点上削弱侵略者的排他性。
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公开(公告)号：US20050038731A1
公开(公告)日：2005-02-17
申请号：US10640829
申请日：2003-08-13
Applicant: Michael Sweeting , Howard Lutnick , Lee Amaitis
Inventor： Michael Sweeting , Howard Lutnick , Lee Amaitis
CPC classification number: G06Q40/04
Abstract: Apparatus and methods for automatically executing a trade of an item between a market participant who issues a request for a quote for an item and a market participant who responds to the request are provided. In some embodiments, an automatic trade may be conditioned upon the acknowledgement, by the participant who issues the request, of an obligation to execute the trade. In some embodiments, the invention may include one or more modules for receiving the request, receiving a quote, receiving a responsive number of units of the item to be traded, decrementing a time interval in which the participant who issues the request is required to trade, and, if that participant does not trade within the time interval, trading on behalf of that participant.
Abstract translation: 提供了用于在发出对项目的报价请求的市场参与者和响应于请求的市场参与者之间自动执行商品交易的装置和方法。 在一些实施例中，自动交易可以在发出请求的参与者确认执行交易的义务的条件下进行。 在一些实施例中，本发明可以包括用于接收请求的一个或多个模块，接收报价，接收要交易的项目的响应数量的单元，减少发送请求的参与者需要交易的时间间隔 ，如果该参与者在时间间隔内不进行交易，则代表该参与者进行交易。
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公开(公告)号：USD497912S1
公开(公告)日：2004-11-02
申请号：US29186056
申请日：2003-07-08
Applicant: Howard W. Lutnick , Joseph Noviello , Michael Sweeting , Lee Amaitis , Jim Johnson
Designer： Howard W. Lutnick , Joseph Noviello , Michael Sweeting , Lee Amaitis , Jim Johnson
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公开(公告)号：US08756137B2
公开(公告)日：2014-06-17
申请号：US12946277
申请日：2010-11-15
Applicant: Joseph C. Noviello , Michael Sweeting , Howard W. Lutnick
Inventor： Joseph C. Noviello , Michael Sweeting , Howard W. Lutnick
Abstract: According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding the outlying trading order. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.
Abstract translation: 根据一个实施例，提供了管理交易的方法。 在特定类型的仪器的市场中，从多个交易者收到买单和卖出订单。 每个买单都有相关联的出价，每个卖单都有相关的报价。 通过确定特定交易订单是否与至少一个比较价格不同超过阈值来确定特定交易订单是否是离岸交易订单。 如果确定特定交易是离岸交易订单，则对离岸交易订单采取限制性行动。 例如，如果交易者随后提交另一个与离岸交易订单交易的交易订单，则可能会向交易者发送一个提醒信息，并且可以阻止随后的交易订单至少暂时与远期交易订单进行交易。
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公开(公告)号：US08595121B2
公开(公告)日：2013-11-26
申请号：US12938189
申请日：2010-11-02
Applicant: Michael Sweeting , Howard W. Lutnick , Joseph Noviello
Inventor： Michael Sweeting , Howard W. Lutnick , Joseph Noviello
CPC classification number: G06Q40/04
Abstract: A system and method is provided to allow traders to submit midprice orders to trade at a price within a spread of a market, preferably at the midpoint of a spread market, while maintaining anonymity of the midprice order. A midprice order is anonymous because other traders do not know whether the submitted midprice orders are orders to buy or orders to sell. A midprice order may remain active until it is traded with a contra midprice order or until a parameter associated with the order is breached, thereby resulting in cancellation of the midprice order.
Abstract translation: 提供了一种系统和方法，以允许交易者提交中间价格的订单，以市场的差价交易，最好是在传播市场的中点，同时保持中间价格订单的匿名性。 中价订单是匿名的，因为其他交易者不知道提交的中档订单是订单还是订单出售。 一个中间价格的订单可能会保持有效，直到它与中间价格订单交易或直到与订单相关的参数被违反为止，从而导致中间价格订单被取消。
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