公开(公告)号：US20090125438A1

公开(公告)日：2009-05-14

申请号：US12356671

申请日：2009-01-21

申请人： Jon McConaughy ,  Josh Star ,  Zack Ling ,  Liguo Song ,  Tony Hsu

发明人： Jon McConaughy ,  Josh Star ,  Zack Ling ,  Liguo Song ,  Tony Hsu

IPC分类号： G06Q40/00

CPC分类号： G06Q30/08 ,  G06Q40/00 ,  G06Q40/04

摘要： The invention provides systems and methods for providing replicable financial instrument orders, and establishing a fill price that is better than the theoretical upper limit of the industries' best order execution. The system has the capability of transforming a client's index order into a replicable product, such as index futures and/or baskets of the underlying stocks. The system selects whichever method and combination of securities that will achieve the best expected execution for the particular market. The system achieves the best price and execution efficiency by utilizing dynamic market information across all possible liquidity formats, liquidity pools, and high performance trading systems, delivering a product that has multiple forms at the best possible price. The result is a better final execution price that outperforms current industry practices for best order execution. The system delivers the fill order in the original liquidity format at the price, or equivalent price, of the replicable product.

摘要翻译： 本发明提供了提供可复制金融工具订单的系统和方法，并建立了比行业最佳订单执行理论上限更好的填补价格。 该系统具有将客户的指数指数转换为可复制产品的能力，如指数期货和/或基准股票的筐子。 该系统选择将为特定市场实现最佳预期执行的任何方法和证券组合。 通过利用所有可能的流动性格式，流动性汇率和高性能交易系统的动态市场信息，系统以最佳价格提供具有多种形式的产品，从而实现了最佳的价格和执行效率。 结果是更好的最终执行价格优于当前行业最佳订单执行惯例。 系统以可复制产品的价格或相当价格提供原始流动性格式的填写单。

公开(公告)号：US20060184444A1

公开(公告)日：2006-08-17

申请号：US11237022

申请日：2005-09-28

申请人： Jon McConaughy ,  Josh Star ,  Zack Ling ,  Liguo Song ,  Tony Hsu

发明人： Jon McConaughy ,  Josh Star ,  Zack Ling ,  Liguo Song ,  Tony Hsu

IPC分类号： G06Q40/00

CPC分类号： G06Q30/08 ,  G06Q40/00 ,  G06Q40/04

摘要： The invention provides systems and methods for providing replicable financial instrument orders, and establishing a fill price that is better than the theoretical upper limit of the industries' best order execution. The system has the capability of transforming a client's index order into a replicable product, such as index futures and/or baskets of the underlying stocks. The system selects whichever method and combination of securities that will achieve the best expected execution for the particular market. The system achieves the best price and execution efficiency by utilizing dynamic market information across all possible liquidity formats, liquidity pools, and high performance trading systems, delivering a product that has multiple forms at the best possible price. The result is a better final execution price that outperforms current industry practices for best order execution. The system delivers the fill order in the original liquidity format at the price, or equivalent price, of the replicable product.

摘要翻译： 本发明提供了提供可复制金融工具订单的系统和方法，并建立了比行业最佳订单执行理论上限更好的填补价格。 该系统具有将客户的指数指数转换为可复制产品的能力，如指数期货和/或基准股票的筐子。 该系统选择将为特定市场实现最佳预期执行的任何方法和证券组合。 通过利用所有可能的流动性格式，流动性汇率和高性能交易系统的动态市场信息，系统以最佳价格提供具有多种形式的产品，从而实现了最佳的价格和执行效率。 结果是更好的最终执行价格优于当前行业最佳订单执行惯例。 系统以可复制产品的价格或相当价格提供原始流动性格式的填写单。