公开(公告)号：US08630936B2

公开(公告)日：2014-01-14

申请号：US13549958

申请日：2012-07-16

Applicant: Joseph C. Noviello ,  Michael Sweeting ,  Howard W. Lutnick

Inventor： Joseph C. Noviello ,  Michael Sweeting ,  Howard W. Lutnick

IPC: G06Q40/00

CPC classification number: G06Q40/04 ,  G06Q40/00 ,  G06Q40/06 ,  G06Q99/00

Abstract: 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 order 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: 提供管理交易的方法。 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。 如果确定特定交易订单是离岸交易订单，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。

公开(公告)号：US08571970B2

公开(公告)日：2013-10-29

申请号：US13595229

申请日：2012-08-27

Applicant: Richard P. Goodman ,  Michael Sweeting

Inventor： Richard P. Goodman ,  Michael Sweeting

IPC: G06Q40/00

CPC classification number: G06Q40/04

Abstract: An electronic trading system is described herein. More specifically, the electronic trading system may relate to the substantially simultaneous trading of cash instruments and their related futures contracts for interest-rate related instruments. The electronic trading system may also be used to allow a user (such as a market maker or other suitable participant) to gauge his chance of success at completing both sides of a basis trade within a preferably pre-determined or pre-set interval, while knowing in advance the specific weighting algorithm that will be applied to the basis trade. The electronic trading system may also be used to allow a user to predetermine the exact weighting algorithm to be used on such a basis trade, and to adjust those preferences where necessary or desired.

Abstract translation: 这里描述了电子交易系统。 更具体地说，电子交易系统可能涉及与利率相关工具的现金工具及其相关期货合约的大幅同时交易。 电子交易系统也可以用于允许用户（例如制造商或其他合适的参与者）在优选地预先确定的或预先设定的时间间隔内确定完成基础交易的两侧的成功机会，同时 提前知道将应用于基础交易的具体加权算法。 电子交易系统还可以用于允许用户预先确定要在这种基础交易上使用的确切加权算法，并且在必要或期望的情况下调整这些偏好。

公开(公告)号：US20130041800A1

公开(公告)日：2013-02-14

申请号：US13228940

申请日：2011-09-09

Applicant: Michael SWEETING ,  Jim Johnson

Inventor： Michael SWEETING ,  Jim Johnson

IPC: G06Q40/00

CPC classification number: G06Q40/04 ,  G06Q40/00

Abstract: A system and method is provided to enable traders to price improve on an item at an amount less than a predetermined pricing increment. Traders can improve on the price of the item using different price improvement levels (e.g., four different levels). Dynamic price improvement enables a dynamic order to maintain a predetermined position in a trading stack relative to other orders in the stack. The dynamic order may maintain its position in the trading stack by adjusting (e.g., increasing or decreasing) its price improvement level depending on market conditions. For example, a dynamic order may increases its price improvement level such that it stays at least one level ahead of the next best order in the trading stack. If the level cannot be further increased, the dynamic order may use its timestamp to maintain its position in the stack.

Abstract translation: 提供了一种系统和方法，以使交易者能够以小于预定定价增量的量来对物品进行价格改善。 交易者可以使用不同的价格改进水平（例如，四个不同的水平）来提高物品的价格。 动态价格改进使得动态订单能够相对于堆栈中的其他订单在交易栈中保持预定位置。 动态订单可以通过根据市场条件调整（例如，增加或减少）其价格改进水平来维持其在交易栈中的位置。 例如，动态订单可能会提高其价格提升水平，使其在交易堆栈中的下一个最佳订单之前保持至少一个水平。 如果级别不能进一步增加，则动态顺序可以使用其时间戳来保持其在堆栈中的位置。

公开(公告)号：US08255314B2

公开(公告)日：2012-08-28

申请号：US10940574

申请日：2004-09-13

Applicant: Richard P Goodman ,  Michael Sweeting

Inventor： Richard P Goodman ,  Michael Sweeting

IPC: G06Q40/00

CPC classification number: G06Q40/04

Abstract: An electronic trading system is described herein. More specifically, the electronic trading system may relate to the substantially simultaneous trading of cash instruments and their related futures contracts for interest-rate related instruments. The electronic trading system may also be used to allow a user (such as a market maker or other suitable participant) to gauge his chance of success at completing both sides of a basis trade within a preferably pre-determined or pre-set interval, while knowing in advance the specific weighting algorithm that will be applied to the basis trade. The electronic trading system may also be used to allow a user to predetermine the exact weighting algorithm to be used on such a basis trade, and to adjust those preferences where necessary or desired.

Abstract translation: 这里描述了电子交易系统。 更具体地说，电子交易系统可能涉及与利率相关工具的现金工具及其相关期货合约的大幅同时交易。 电子交易系统也可以用于允许用户（例如制造商或其他合适的参与者）在优选地预先确定的或预先设定的时间间隔内确定完成基础交易的双方的成功机会，同时 提前知道将应用于基础交易的具体加权算法。 电子交易系统还可以用于允许用户预先确定要在这种基础交易上使用的确切加权算法，并且在必要或期望的情况下调整这些偏好。

公开(公告)号：US20120109809A1

公开(公告)日：2012-05-03

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

IPC: G06Q40/00

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。

公开(公告)号：US08165943B2

公开(公告)日：2012-04-24

申请号：US13047127

申请日：2011-03-14

Applicant: Michael Sweeting

Inventor： Michael Sweeting

IPC: G06Q40/10

CPC classification number: G06Q40/04 ,  G06Q40/00

Abstract: A method for offering an asset in a financial environment is provided that includes receiving a request to perform a selected one of a purchasing and a selling operation for a futures contract. The futures contract includes a first asset class having a first value associated therewith and a second asset class having a second value associated therewith. A price for the futures contract is determined at least partially by the first and second values.

Abstract translation: 提供一种在金融环境中提供资产的方法，包括接收执行期货合约的采购和卖出操作中选定的一个的请求。 期货合约包括具有与之相关联的第一值的第一资产类别和具有与其相关联的第二值的第二资产类别。 期货合约的价格至少部分由第一和第二个价值确定。

公开(公告)号：US08112348B2

公开(公告)日：2012-02-07

申请号：US12412119

申请日：2009-03-26

Applicant: Michael Sweeting

Inventor： Michael Sweeting

IPC: G06Q40/00

CPC classification number: G06Q40/04

Abstract: Traders in an electronic trading system are provided an opportunity to improve prices for an item trading in an active market are provided. After a trader hits a bid or lifts an offer, a market becomes active. When the market is active, traders can submit orders that improve on the price of the current market price of an item. Whenever a price improvement order is currently available for use in a transaction order, a price improvement indicator is displayed to indicate to other traders that price improvement is occurring. When a price improvement order is used to fill a transaction order, a portion of the difference between the market price and the price improvement price may be divided between the trader associated with the price improvement order, the trader associated with the transaction order, and the system host.

Abstract translation: 提供电子交易系统中的交易者提供了提供活跃市场交易项目价格的机会。 一个交易者在出价或提出报价后，一个市场变得活跃起来。 当市场活跃时，交易商可以提交提高一个物品当前市场价格价格的订单。 每当价格改进订单当前可用于交易订单时，都会显示价格改进指标，以向其他交易者指示价格改善正在发生。 当使用价格改进订单来填写交易订单时，市场价格和价格改进价格之间的差额的一部分可以在与价格改进订单相关联的交易者，与交易订单相关联的交易者和 系统主机。

公开(公告)号：US07827089B2

公开(公告)日：2010-11-02

申请号：US10397109

申请日：2003-03-24

Applicant: Michael Sweeting ,  Howard W. Lutnick ,  Joseph Noviello

Inventor： Michael Sweeting ,  Howard W. Lutnick ,  Joseph Noviello

IPC: G06Q40/00

CPC classification number: G06Q40/00 ,  G06Q40/04 ,  G06Q40/06

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。

公开(公告)号：US07562045B2

公开(公告)日：2009-07-14

申请号：US10716304

申请日：2003-11-18

Applicant: Alastair J. D. Beadle ,  Michael Sweeting

Inventor： Alastair J. D. Beadle ,  Michael Sweeting

IPC: G06Q40/00

CPC classification number: H04L63/08 ,  G06Q30/08 ,  G06Q40/04 ,  G06Q50/188 ,  H04L63/10

Abstract: According to one embodiment, a method of managing access to a trading network is provided. A first network login request for a first user is received from a client application. The first network login request includes first authentication information. Based at least on the first authentication information, the first network login request is approved, which authorizes the first user to access the trading network. One or more associated users for which the first user is authorized to act as a proxy is identifying from a plurality of users. User profile information for one of the associated users is obtained and communicated to the client application. The user profile information includes information regarding the second user that can be used to allow the first user to engage in trading activity via the trading network on behalf of the second user.

Abstract translation: 根据一个实施例，提供了一种管理对交易网络的访问的方法。 从客户端应用程序接收第一用户的第一个网络登录请求。 第一网络登录请求包括第一认证信息。 至少基于第一认证信息，批准第一网络登录请求，其授权第一用户访问交易网络。 第一用户被授权充当代理的一个或多个关联用户是从多个用户中进行识别。 获得一个关联用户的用户简档信息并将其传达给客户端应用程序。 用户简档信息包括关于可以用于允许第一用户代表第二用户经由交易网络进行交易活动的第二用户的信息。

公开(公告)号：US20090177573A1

公开(公告)日：2009-07-09

申请号：US12404662

申请日：2009-03-16

Applicant: Alastair J.D. Beadle ,  Michael Sweeting

Inventor： Alastair J.D. Beadle ,  Michael Sweeting

IPC: G06Q40/00

CPC classification number: H04L63/08 ,  G06Q30/08 ,  G06Q40/04 ,  G06Q50/188 ,  H04L63/10

Abstract: According to one embodiment, a method of managing access to a trading network is provided. A first network login request for a first user is received from a client application. The first network login request includes first authentication information. Based at least on the first authentication information, the first network login request is approved, which authorizes the first user to access the trading network. One or more associated users for which the first user is authorized to act as a proxy is identifying from a plurality of users. User profile information for one of the associated users is obtained and communicated to the client application. The user profile information includes information regarding the second user that can be used to allow the first user to engage in trading activity via the trading network on behalf of the second user.

Abstract translation: 根据一个实施例，提供了一种管理对交易网络的访问的方法。 从客户端应用程序接收第一用户的第一个网络登录请求。 第一网络登录请求包括第一认证信息。 至少基于第一认证信息，批准第一网络登录请求，其授权第一用户访问交易网络。 第一用户被授权充当代理的一个或多个关联用户是从多个用户中进行识别。 获得一个关联用户的用户简档信息并将其传达给客户端应用程序。 用户简档信息包括关于可以用于允许第一用户代表第二用户经由交易网络进行交易活动的第二用户的信息。