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1.发明授权Method and apparatus for the receipt, combination, and evaluation of equity portfolios for execution by a sponsor at passively determined prices 失效权益组合的接收，组合和评估的方法和装置，由发起人以被动确定的价格执行公开(公告)号：US07415432B1
公开(公告)日：2008-08-19
申请号：US09714212
申请日：2000-11-17
IPC分类号： G06Q40/00
摘要： The present invention is directed to a system for the electronic trading of financial instruments, and in particular, a system and method for the receipt, combination, and evaluation of equity portfolios for possible simultaneous execution by a sponsor at passively determined prices. In accordance with an embodiment of the present invention, a method for trading securities portfolios includes receiving a first intended portfolio trade having an associated specified commission, evaluating a combination of the first intended portfolio trade and a second intended portfolio trade for possible execution; and transmitting a decision on whether to execute the combination of the first intended portfolio trade and the second intended portfolio trade.
摘要翻译： 本发明涉及一种用于电子交易金融工具的系统，特别是一种用于接受，组合和评估股权投资组合的系统和方法，以供赞助者以被动确定的价格同时执行。 根据本发明的一个实施例，一种用于交易证券投资组合的方法包括接收具有相关联的指定佣金的第一预期投资组合交易，评估第一预期投资组合交易的组合和可能执行的第二预期投资组合交易; 并转交关于是否执行第一预期投资组合交易和第二预期投资组合交易的组合的决定。
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2.发明授权Method and system for facilitating automated interaction of marketable retail orders and professional trading interest at passively determined prices 有权促进可销售零售订单与被动确定价格的专业交易利益的自动化交互的方法和系统公开(公告)号：US07627516B2
公开(公告)日：2009-12-01
申请号：US11249495
申请日：2005-10-14
IPC分类号： G06Q40/00
CPC分类号： G06Q40/04 , G06Q20/10 , G06Q40/025
摘要： A method and system for an automated trading network that continuously collects invisible, anonymous, binding orders and indications of interest to buy and sell specific equity securities at variable, passively determined prices and, then, executes trades based on these collected orders and indications. In general, the binding orders are collected from retail broker-dealers and the binding indications are collected from institutions. The variable, passively determined, non-discrete prices can be linked to the National Best Bid or Offer (NBBO) for each security, or some other prevailing market indicator, at the time a trade is executed. In an embodiment of the method and system, marketable retail orders which match with one or more collected institutional indications, are routed from a Dynamic Order Router (DOR) at each broker-dealer to a Central Order-Match Box (COMB) to be executed against the one or more matched collected institutional indications. The COMB also manages most other aspects of transactions in the method and system and continuously executes trades against the collected institutional indications at improved prices relative to the NBBO.
摘要翻译： 一种自动交易网络的方法和系统，其不断收集无形，匿名，有约束力的订单和利益变化迹象，以可变，被动确定的价格买卖特定股权证券，然后根据这些收集的订单和指示执行交易。 一般来说，绑定订单是从零售经纪商收集的，而有约束力的指示是从机构收集的。 可变，被动确定的非离散价格可以在执行交易时与每个证券或其他一些其他现行市场指标的国家最佳投标或报价（NBBO）挂钩。 在方法和系统的实施例中，与一个或多个收集的机构指示匹配的可销售零售订单从每个经纪商交易商的动态订单路由器（DOR）路由到要执行的中央订单匹配箱（COMB） 针对一个或多个匹配的收集的制度适应症。 COMB还管理方法和系统中交易的大多数其他方面，并以相对于NBBO的价格更高的价格，针对收集的机构指示持续执行交易。
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公开(公告)号：US07035819B1
公开(公告)日：2006-04-25
申请号：US09565444
申请日：2000-05-05
IPC分类号： G06F17/60
CPC分类号： G06Q40/04 , G06Q20/10 , G06Q40/025
摘要： A method and system for an automated trading network that continuously collects invisible, anonymous, binding orders and indications of interest to buy and sell specific equity securities at variable, passively determined prices and, then, executes trades based on these collected orders and indications. In general, the binding orders are collected from retail broker-dealers and the binding indications are collected from institutions. The variable, passively determined, non-discrete prices can be linked to the National Best Bid or Offer (NBBO) for each security, or some other prevailing market indicator, at the time a trade is executed. In an embodiment of the method and system, marketable retail orders which match with one or more collected institutional indications, are routed from a Dynamic Order Router (DOR) at each broker-dealer to a Central Order-Match Box (COMB) to be executed against the one or more matched collected institutional indications. The COMB also manages most other aspects of transactions in the method and system and continuously executes trades against the collected institutional indications at improved prices relative to the NBBO.
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