公开(公告)号：US10346919B2

公开(公告)日：2019-07-09

申请号：US14299685

申请日：2014-06-09

Applicant: Trading Technologies International, Inc.

Inventor： Sagy Pundak Mintz ,  Michael J. Burns

IPC: G06Q40/06 ,  G06Q40/04

Abstract: An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.

公开(公告)号：US20180247373A1

公开(公告)日：2018-08-30

申请号：US15966753

申请日：2018-04-30

Applicant: Trading Technologies International, Inc.

Inventor： Sagy Pundak Mintz ,  Michael J. Burns

IPC: G06Q40/04 ,  G06Q40/00

CPC classification number: G06Q40/04 ,  G06Q40/00

Abstract: Certain embodiments provide a method for trading in an electronic trading environment including receiving market data relating to a plurality of tradeable objects; sending a order to an exchange for the first tradeable object at a quoted price; receiving a fill confirmation for the quoting order at a filled price; determining a difference between the quoted price and the filled price; determining a hedge price for each of the plurality of tradeable objects other than the first tradeable object based at least in part on the difference and at least one multiplier associated with at least one leg of the trading strategy; and sending hedge orders for each of the plurality of tradeable objects other than the first tradeable object at the corresponding hedge price. The plurality of tradeable objects includes at least a first, second, and third tradeable object, which are traded as legs of a trading strategy.

公开(公告)号：US20150106249A1

公开(公告)日：2015-04-16

申请号：US14333730

申请日：2014-07-17

Applicant: Trading Technologies International, Inc.

Inventor： Sagy Pundak Mintz ,  Michael J. Burns

IPC: G06Q40/04

CPC classification number: G06Q40/04 ,  G06Q40/00

Abstract: Certain embodiments provide a method for trading in an electronic trading environment including receiving market data relating to a plurality of tradeable objects; sending a order to an exchange for the first tradeable object at a quoted price; receiving a fill confirmation for the quoting order at a filled price; determining a difference between the quoted price and the filled price; determining a hedge price for each of the plurality of tradeable objects other than the first tradeable object based at least in part on the difference and at least one multiplier associated with at least one leg of the trading strategy; and sending hedge orders for each of the plurality of tradeable objects other than the first tradeable object at the corresponding hedge price. The plurality of tradeable objects includes at least a first, second, and third tradeable object, which are traded as legs of a trading strategy.

Abstract translation: 某些实施例提供一种用于在电子交易环境中交易的方法，包括接收与多个可交易对象相关的市场数据; 以引用价格向第一可交易对象的交易发送订单; 以填补的价格收到报价单的填写确认; 确定报价与填补价格之间的差额; 至少部分地基于差异来确定除第一可交易对象之外的多个可交易对象中的每一个的对冲价格，以及与交易策略的至少一条腿相关联的至少一个乘数; 以对应的对冲价格发送除第一可交易对象之外的多个可交易对象中的每一个的对冲订单。 多个可交易对象包括至少第一，第二和第三可交易对象，其被交易为交易策略的腿。

公开(公告)号：US20150052244A1

公开(公告)日：2015-02-19

申请号：US14526441

申请日：2014-10-28

Applicant: TRADING TECHNOLOGIES INTERNATIONAL INC.

Inventor： Sagy Pundak Mintz

IPC: H04L12/721 ,  H04L12/775

CPC classification number: H04L45/70 ,  G06Q40/04 ,  H04L45/58

Abstract: A sticky order routing system may include multiple order routers in communication with an electronic exchange for communicating transaction messages. Each of the order routers communicates transaction messages between multiple associated trading sessions and the electronic exchange, where of the associated trading sessions is assigned to the order router in communication with the electronic exchange. Transaction message traffic between the order routers and the electronic exchange is monitored, such as randomly, based on round-robin assignment, and/or trading data. In response to transaction message traffic exceeding a threshold, the trading session may be assigned to a new order router.

Abstract translation: 粘性订单路由系统可以包括与用于传达交易消息的电子交换机通信的多个订单路由器。 每个订单路由器在多个相关联的交易会话和电子交换机之间传送交易消息，其中相关联的交易会话被分配给与电子交换机通信的订单路由器。 监视订单路由器和电子交换机之间的事务消息流量，例如随机地基于轮询分配和/或交易数据。 响应于超过阈值的交易消息流量，交易会话可以被分配给新的订单路由器。

公开(公告)号：US20140344136A1

公开(公告)日：2014-11-20

申请号：US14299685

申请日：2014-06-09

Applicant: Trading Technologies International, Inc.

Inventor： Sagy Pundak Mintz ,  Michael J. Burns

IPC: G06Q40/06

CPC classification number: G06Q40/06 ,  G06Q40/04

Abstract: An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.

Abstract translation: 提供电子交易方式。 该方法包括接收具有包括多个引脚的父交易策略的交易策略顺序; 将交易策略订单分解为多个子订单; 并提交多个子订单中的每一个交换系统，以适应填充小孩命令中的引用条款。 每个子女订单都包含一个儿童交易策略，该策略具有相对于母公司交易策略的单引号或减少的引数。 儿童交易策略与父母交易策略相同，除了标记为双脚的腿数。 该方法可以由设置在客户端设备和多个服务器侧设备之间的交易策略设备执行。

公开(公告)号：US20140032387A1

公开(公告)日：2014-01-30

申请号：US13959071

申请日：2013-08-05

Applicant: Trading Technologies International, Inc.

Inventor： Sagy Pundak Mintz ,  Michael J. Burns

IPC: G06Q40/04

CPC classification number: G06Q40/04 ,  G06Q40/00

Abstract: Certain embodiments provide a method for trading in an electronic trading environment including receiving market data relating to a plurality of tradeable objects; sending a order to an exchange for the first tradeable object at a quoted price; receiving a fill confirmation for the quoting order at a filled price; determining a difference between the quoted price and the filled price; determining a hedge price for each of the plurality of tradeable objects other than the first tradeable object based at least in part on the difference and at least one multiplier associated with at least one leg of the trading strategy; and sending hedge orders for each of the plurality of tradeable objects other than the first tradeable object at the corresponding hedge price. The plurality of tradeable objects includes at least a first, second, and third tradeable object, which are traded as legs of a trading strategy.

Abstract translation: 某些实施例提供一种用于在电子交易环境中交易的方法，包括接收与多个可交易对象相关的市场数据; 以引用价格向第一可交易对象的交易发送订单; 以填补的价格收到报价单的填写确认; 确定报价与填补价格之间的差额; 至少部分地基于差异来确定除第一可交易对象之外的多个可交易对象中的每一个的对冲价格，以及与交易策略的至少一条腿相关联的至少一个乘数; 以对应的对冲价格发送除第一可交易对象之外的多个可交易对象中的每一个的对冲订单。 多个可交易对象包括至少第一，第二和第三可交易对象，其被交易为交易策略的腿。

公开(公告)号：US20140025555A1

公开(公告)日：2014-01-23

申请号：US14030047

申请日：2013-09-18

Applicant: Trading Technologies International, Inc.

Inventor： Sagy Pundak Mintz

IPC: G06Q40/04

CPC classification number: G06Q40/04 ,  G06Q40/06

Abstract: Various systems and methods are described herein for a risk check. The risk check bases a decision to allow a trading strategy to proceed on whether the order quantity for each leg of the trading strategy satisfies a certain condition. Particularly, when a trading strategy is initiated, the quantity for each of the orders to be submitted on behalf of the trading strategy, including the quantity of the initial order and any subsequent orders, is then compared to a corresponding risk value. If the order quantity for each of the orders is less than the corresponding risk value, then the trading strategy can proceed and the initial order can be sent on to the exchange. However, if the order quantity for any of the orders exceeds the risk value, then the initial order is not sent to the electronic exchange. Additionally, as described herein, quantity associated with the trading strategy is held or reserved for execution of the trading strategy regardless of the activity taken by the trader since the trading strategy was initiated. The reserved quantity can be drawn from the trading strategy until the quantity is depleted, the trading strategy has ended, or both, for example.

Abstract translation: 本文描述了用于风险检查的各种系统和方法。 风险检查基于一个决定，允许交易策略继续，交易策略的每一段的订单数量是否满足一定条件。 特别是，当交易策略开始时，将代表交易策略提交的每个订单的数量，包括初始订单数量和任何后续订单的数量，然后与相应的风险值进行比较。 如果每个订单的订单数量小于相应的风险值，则可以进行交易策略，并将初始订单发送到交易所。 但是，如果任何订单的订单数量超过风险值，则初始订单不会发送到电子交易所。 此外，如本文所述，与交易策略相关联的数量被持有或保留用于执行交易策略，而不管交易策略何时启动时交易者所采取的活动。 例如，保留的数量可以从交易策略中获取，直到数量耗尽，交易策略已经结束，或者两者都是。