Price improvement in an active trading market
    41.
    发明授权
    Price improvement in an active trading market 有权
    主动交易市场价格上涨

    公开(公告)号:US07574395B2

    公开(公告)日:2009-08-11

    申请号:US10171009

    申请日:2002-06-11

    Inventor: Michael Sweeting

    CPC classification number: G06Q40/00 G06Q40/025 G06Q40/04

    Abstract: Systems and methods for providing traders an opportunity to improve prices for an item trading in an active market are provided. After a trader HITS or LIFTS a bid or 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: 提供了为交易者提供一个改善活跃市场交易项目价格的机会和方法。 在交易者HITS或LIFTS出价或报价后,市场变得活跃。 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。

    Systems and methods for providing enhanced volume-weighted average price trading
    42.
    发明授权
    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:US07536342B2

    公开(公告)日:2009-05-19

    申请号:US10966526

    申请日:2004-10-15

    CPC classification number: G06Q40/04 G06Q40/00

    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。

    SYSTEMS AND METHODS FOR ESTABLISHING FIRST ON THE FOLLOW TRADING PRIORITY IN ELECTRONIC TRADING SYSTEMS
    46.
    发明申请
    SYSTEMS AND METHODS FOR ESTABLISHING FIRST ON THE FOLLOW TRADING PRIORITY IN ELECTRONIC TRADING SYSTEMS 有权
    在电子交易系统中首先建立贸易优先的制度和方法

    公开(公告)号:US20070244795A1

    公开(公告)日:2007-10-18

    申请号:US11621546

    申请日:2007-01-09

    CPC classification number: G06Q40/04 G06Q40/00

    Abstract: A trading system transitions from a first state to a second state and may award a participant, when one or more criteria and/or a status of trading rights are met, with trading priority in the second state to trade on an incoming contra order. The participant may also have an associated order modified as a result of an incoming contra order and/or be caused to automatically trade on an incoming contra order.

    Abstract translation: 交易系统从第一状态转变到第二状态,并且当符合交易权的一个或多个标准和/或状态时,可以授予参与者在第二状态下的交易优先级以进入的反向订单进行交易。 参与者还可以具有由于进入的反向命令而修改的关联订单和/或被引导以自动交易进入的反向命令。

    SYSTEMS AND METHODS FOR PROVIDING DYNAMIC PRICE AXES
    47.
    发明申请
    SYSTEMS AND METHODS FOR PROVIDING DYNAMIC PRICE AXES 有权
    提供动态价格轴的系统和方法

    公开(公告)号:US20070240053A1

    公开(公告)日:2007-10-11

    申请号:US11608303

    申请日:2006-12-08

    CPC classification number: G06Q40/04

    Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface displays a bid price axis and an ask price axis, as well as corresponding sizes, and an indication of the inside market. When the inside market changes in response to changing market conditions, the indication of the inside market changes locations before being restored to its original location by shifting the bid and ask prices in a direction parallel to the bid or ask price axis. The user may enter trade commands at different price levels using an input device. In order to help prevent such trade commands from being entered at erroneous price levels, the system locks a pointer associated with the input device to a price the user points to during the shifting process, unless the pointer is moved away from that price.

    Abstract translation: 本发明涉及提供用于电子交易系统的用户界面的系统和方法。 该界面显示出价价格轴和询价价格轴,以及相应的尺寸,以及内部市场的指示。 当内部市场随市场变化而变化时,内部市场的变化指示在恢复到原始位置之前,通过以与出价或询问价格轴平行的方向转移出价和要价来改变位置。 用户可以使用输入设备以不同的价格水平输入交易命令。 为了帮助防止这种交易命令以错误的价格水平进入,系统将与输入设备相关联的指针锁定到用户在换档过程期间指向的价格,除非指针被移开远离该价格。

    Systems and methods for commission allocation
    50.
    发明申请
    Systems and methods for commission allocation 审中-公开
    佣金分配的制度和方法

    公开(公告)号:US20060080222A1

    公开(公告)日:2006-04-13

    申请号:US11213601

    申请日:2005-08-26

    CPC classification number: G06Q40/04 G06Q30/0239 G06Q30/0601

    Abstract: The invention relates to systems and methods that allocate different types of commissions to participants based on at least one factor contributing to the liquidity to the market in which an item trades. The commission may accordingly depend on the order in which trading commands are received from different participants and/or the sides the participants are on. The systems and methods receive trade commands from different participants on the item, match these trade commands, determine a commission or reward based on the added liquidity and allocate the commission or reward to certain participants.

    Abstract translation: 本发明涉及一种系统和方法,该系统和方法基于至少一个因素导致项目流向市场流动的因素,向参与者分配不同类型的佣金。 因此,佣金可能取决于从不同参与者和/或参与者所在的方面接收交易命令的顺序。 系统和方法从该项目的不同参与者接收交易指令,与这些交易指令相匹配,根据增加的流动性确定佣金或报酬,并向特定参与者分配佣金或报酬。

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