公开(公告)号：US10937092B2

公开(公告)日：2021-03-02

申请号：US10938143

申请日：2004-09-10

Applicant: Howard W Lutnick ,  Michael Sweeting

Inventor： Howard W Lutnick ,  Michael Sweeting

IPC: G06Q40/00 ,  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.

公开(公告)号：US10515408B2

公开(公告)日：2019-12-24

申请号：US10640829

申请日：2003-08-13

Applicant: Michael Sweeting ,  Howard W Lutnick ,  Lee Amaitis

Inventor： Michael Sweeting ,  Howard W Lutnick ,  Lee Amaitis

IPC: 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.

公开(公告)号：US08930256B2

公开(公告)日：2015-01-06

申请号：US10699858

申请日：2003-10-31

Applicant: Howard W. Lutnick ,  Joseph Noviello ,  Michael Sweeting ,  Lee Amaitis ,  Jim Johnson

Inventor： Howard W. Lutnick ,  Joseph Noviello ,  Michael Sweeting ,  Lee Amaitis ,  Jim Johnson

IPC: G06Q40/00 ,  G06F3/0489 ,  G06F3/02 ,  G06Q40/04

CPC classification number: G06F3/0489 ,  G06F3/0219 ,  G06F3/0233 ,  G06Q40/04

Abstract: The present invention relates to systems and methods for providing customized keyboards for receiving user inputs, and view regions for displaying information for users in useful arrangements. Such keyboards include keys that are pre-programmed to reflect the issues present in each trading pane of the view regions. Using such keys, a user may direct the trading application to quickly and efficiently switch between multiple issues, and place, manipulate or cancel orders on them. The keyboard may also be designed such that multiple keys may be disabled, replaced or mapped to perform different functions.

Abstract translation: 本发明涉及用于提供用于接收用户输入的定制键盘的系统和方法，以及用于在有用的布置中为用户显示信息的区域。 这样的键盘包括预先编程以反映视图区域的每个交易窗格中存在的问题的键。 使用这样的键，用户可以指示交易应用程序快速有效地在多个问题之间切换，并对它们进行放置，操纵或取消订单。 也可以设计键盘，使得可以禁用，替换或映射多个键以执行不同的功能。

公开(公告)号：US20130226760A1

公开(公告)日：2013-08-29

申请号：US13620496

申请日：2012-09-14

Applicant: Howard W. Lutnick ,  Joseph Noviello ,  Michael Sweeting ,  Lee Amaitis ,  Jim Johnson

Inventor： Howard W. Lutnick ,  Joseph Noviello ,  Michael Sweeting ,  Lee Amaitis ,  Jim Johnson

IPC: G06Q40/04

CPC classification number: G06Q40/04 ,  G06F3/0219

Abstract: Systems and methods for a trading interface with advanced features are provided. Along with providing the benchmark issue and non-benchmark issues, the trading application may also provide the trader with the ability to obtain trading information (e.g., another quad) for each of the related U.S. Treasury swaps (“T-swaps”), off-the-runs, yield curve T-swaps, and basis. In some embodiments, the trader may be provided with a customized keyboard to navigate through the trading interface. The keyboard preferably includes keys that allow the trader to quickly and efficiently switch between multiple issues in a quad. Using the keyboard, the trader may also be provided with price improvement functionality and direct dealing functionality. In some embodiments, the trading application may simultaneously display a DD ticker along with the trading quadrant that provides the trader with the progression of the direct dealings of the selected issue.

Abstract translation: 提供了具有高级功能的交易界面的系统和方法。 除了提供基准问题和非基准问题外，交易应用程序还可以为交易者提供获得每个相关美国国库互换（“T-swaps”）交易信息（例如另一个四分之一）的能力 运行，收益率曲线T交换和基础。 在一些实施例中，交易者可以被提供有定制键盘以在交易界面中导航。 键盘优选地包括允许交易者在四通道中的多个问题之间快速有效地切换的键。 使用键盘，也可以向交易者提供价格改进功能和直接交易功能。 在一些实施例中，交易应用程序可以同时向交易者显示DD代码，以向交易者提供直接交易所选问题的进展。

公开(公告)号：US20130204759A1

公开(公告)日：2013-08-08

申请号：US13366956

申请日：2012-02-06

Applicant: Howard W. LUTNICK ,  Michael SWEETING ,  Jim JOHNSON

Inventor： Howard W. LUTNICK ,  Michael SWEETING ,  Jim JOHNSON

IPC: G06Q40/04

CPC classification number: G06Q40/04

Abstract: A computer trading system has price improvement features.

Abstract translation: 电脑交易系统具有价格改善功能。

公开(公告)号：US20130018772A1

公开(公告)日：2013-01-17

申请号：US13372441

申请日：2012-02-13

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

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

IPC: G06Q40/04

CPC classification number: G06Q40/04 ,  G06Q40/00

Abstract: Various systems and methods are provided for enabling one or more participants in an electronic trading system to have exclusive trading privileges. When one or more criteria and/or a status of trading rights are met, a trading system may award a participant with trading priority 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: 提供了各种系统和方法，用于使电子交易系统中的一个或多个参与者具有独占交易特权。 当一个或多个标准和/或交易权利的状态得到满足时，交易系统可以授予具有交易优先权的参与者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。

公开(公告)号：US20120323756A1

公开(公告)日：2012-12-20

申请号：US13595229

申请日：2012-08-27

Applicant: Richard P. Goodman ,  Michael Sweeting

Inventor： Richard P. Goodman ,  Michael Sweeting

IPC: G06Q40/04

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：US20120278223A1

公开(公告)日：2012-11-01

申请号：US13543926

申请日：2012-07-09

Applicant: Howard W. Lutnick ,  Kevin M. Foley ,  Joseph Noviello ,  Lon Steger ,  Matthew Claus ,  Michael Sweeting

Inventor： Howard W. Lutnick ,  Kevin M. Foley ,  Joseph Noviello ,  Lon Steger ,  Matthew Claus ,  Michael Sweeting

IPC: G06Q40/00

Abstract: The invention relates to systems and methods that provide a user interface for use with an electronic trading system. The interface notifies the user that the price at which he or she may have attempted to trade has changed and presents the user with the opportunity to submit, modify or cancel the trade command. The user may configure the trading system to enable such a notification based on the time span for the price change, the number of increments of the price change, a combination thereof or any other appropriate consideration for protecting against the occurrence of erroneous price entries. Subsequent trade commands, such as those entered by third parties, may be used to validate prices and execute trades at these prices.

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。 该界面通知用户他或她可能尝试交易的价格已经改变，并向用户提供提交，修改或取消交易指令的机会。 用户可以将交易系统配置为基于价格变化的时间跨度，价格变动的增量数量，其组合或用于防止错误价格进入的发生的任何其他适当考虑来启用这样的通知。 随后的交易指令（如第三方输入的交易指令）可用于验证价格并以这些价格执行交易。

公开(公告)号：US08275687B2

公开(公告)日：2012-09-25

申请号：US12115313

申请日：2008-05-05

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

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

IPC: G06Q40/00

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。

公开(公告)号：US08244617B2

公开(公告)日：2012-08-14

申请号：US12426314

申请日：2009-04-20

Applicant: Howard W. Lutnick ,  Dean P. Alderucci ,  Michael Sweeting ,  Thomas D. Bradshaw

Inventor： Howard W. Lutnick ,  Dean P. Alderucci ,  Michael Sweeting ,  Thomas D. Bradshaw

IPC: G06Q40/00

CPC classification number: G06Q40/02 ,  G06Q40/00 ,  G06Q40/06

Abstract: Methods and systems are provided herewith for rating a likelihood of payment of one or more cash flows. A computing device determines a probability of payment for one or more payments on a payment schedule for each of one or more debt instruments of a debt instrument portfolio. The computing device may also determine a portfolio cash flow rating of the debt instrument portfolio based on the quantity and purchase price associated with each of the one or more debt instruments, the probability of payment for the one or more payments, a current market price of each of the one or more debt instruments, a net present expected value of the one or more payments in the payment schedule for each of the one or more debt instruments, and/or a credit rating of one or more issuers associated with the debt instruments.

Abstract translation: 此处提供了方法和系统，以评估一种或多种现金流量的可能性。 计算设备确定对于债务工具组合的一个或多个债务工具中的每一个的支付时间表上的一个或多个支付的支付概率。 计算设备还可以基于与一个或多个债务工具中的每一个相关联的数量和购买价格来确定该债务工具投资组合的投资组合现金流量评级，一个或多个支付的支付概率，当前市场价格 所述一个或多个债务工具中的每一个，所述一个或多个债务工具中的每一个的所述一个或多个支付时间表中的一个或多个支付的净现在预期值，和/或与所述债务工具相关联的一个或多个发行者的信用评级 。