Securities processor and a method of processing attributable interest messages
    1.
    发明授权
    Securities processor and a method of processing attributable interest messages 有权
    证券处理者和处理归属利益信息的方法

    公开(公告)号:US07523062B2

    公开(公告)日:2009-04-21

    申请号:US10206129

    申请日:2002-07-25

    IPC分类号: G06Q40/00

    摘要: A securities processor includes a prematching process for validating an attributable security interest message placed by a market participant on a securities trading system This attributable security interest message relates to an individual security chosen from a plurality of securities traded on the securities trading system. A matching queue receives the validated attributable security interest message from the prematching process, and queues it for subsequent matching. A matching process obtains the validated attributable security interest message from the matching queue and compares it with previously-validated attributable security interest messages to determine if a match occurs between the validated attributable security interest message and one of the previously-validated attributable security interest messages.

    摘要翻译: 证券处理机包括用于验证市场参与者在证券交易系统上发布的归属担保权益信息的预处理过程。该归属的担保权益消息涉及从在证券交易系统上交易的多个证券中选择的个人证券。 匹配队列从预处理过程接收经验证的归属安全权益消息,并将其排队以用于后续匹配。 匹配过程从匹配队列获得经验证的归属安全权益消息,并将其与先前验证的归属安全权益消息进行比较,以确定在验证的归属安全权益消息与先前验证的归属安全权益消息之一是否发生匹配。

    Opening price process for trading system
    7.
    发明授权
    Opening price process for trading system 有权
    交易系统的开仓价格

    公开(公告)号:US07882010B2

    公开(公告)日:2011-02-01

    申请号:US10164753

    申请日:2002-06-07

    IPC分类号: G06Q40/00

    CPC分类号: G06Q40/04

    摘要: A system for determining an opening price for products traded over a distributed, networked computer system, includes a plurality of workstations for entering orders for financial products into the distributed, networked computer system and a server computer coupled to the workstations for receiving the orders. The server computer determines when a time just prior to an official opening time for opening regular trading has been reached, and executes a server process that determines an opening price for the product. The server process identifies the oldest of interest at the most aggressive price on each side of the market and selects the older interest of the identified interest to designate as initial interest. The server process matches initial interest against all contra side interest.

    摘要翻译: 用于确定通过分布式联网计算机系统交易的产品的开价的系统包括用于将金融产品的订单输入到分布式联网计算机系统的多个工作站以及耦合到工作站的用于接收订单的服务器计算机。 服务器计算机确定在正式开放正式开放时间之前的时间已经到达,并执行确定产品的开价的服务器进程。 服务器进程以市场每一方最具侵略性的价格确定最年长的利益,并选择所识别的利益的较早利益来指定为最初利益。 服务器进程与初始兴趣匹配所有对方利益。

    Message prioritization process and method
    8.
    发明授权
    Message prioritization process and method 有权
    消息优先级流程和方法

    公开(公告)号:US07801796B2

    公开(公告)日:2010-09-21

    申请号:US10301804

    申请日:2002-11-21

    IPC分类号: G06Q40/00

    CPC分类号: G06Q40/06 G06Q40/04

    摘要: A message prioritization process includes an interface process for receiving a primary attributable security interest message and one or more secondary attributable security interest messages placed by the market participant on a securities trading system. The primary attributable security interest message relates to a defined quantity of an individual security traded on the securities trading system. Each secondary attributable security interest message increments the defined quantity of the primary attributable security interest message by an incremental quantity. A code assignment process assigns a superior prioritization code to the primary attributable security interest message and an inferior prioritization code to each secondary attributable security interest message. These prioritization codes control the order in which the attributable security interest messages are processed by a matching process, and the inferior prioritization code is subordinate to the superior prioritization code.

    摘要翻译: 消息优先级过程包括用于接收主要归属的安全权益消息的接口过程以及市场参与者在证券交易系统上放置的一个或多个次要归属的安全权益消息。 主要归属的担保权益信息涉及在证券交易系统上交易的个人证券的定义数量。 每个次要归属的安全利益消息以增量数量增加主要归属的安全利益消息的定义数量。 代码分配过程将优先优先级代码分配给主要归属的安全权益消息,以及将较差的优先级代码分配给每个二级归属的安全权益消息。 这些优先级代码控制由匹配过程处理归属的安全利益消息的顺序,劣等的优先级代码从属于优先优先级代码。

    Order price threshold for automated market system
    9.
    发明授权
    Order price threshold for automated market system 有权
    自动化市场体系的订单价格门槛

    公开(公告)号:US07406444B2

    公开(公告)日:2008-07-29

    申请号:US10267018

    申请日:2002-10-08

    IPC分类号: G06Q40/00

    摘要: A method for trading a security in an electronic market includes entering an order at a client station for executing against any market participant that can at least in part satisfy the order, determining a threshold for executing the entered order based on an inside price of the security in the electronic market, matching a portion of the entered order at a server system against interest in the market that does not exceed the determined threshold, and returning any unmatched portion of the entered order that can not be matched by the interest in the market without exceeding the determined threshold.

    摘要翻译: 一种用于交易电子市场中的证券的方法包括:在客户端处输入订单,以执行任何市场参与者,所述市场参与者至少能够至少部分地满足订单,根据该证券的内部价格确定执行输入订单的阈值 在电子市场中,将服务器系统中输入的订单的一部分与市场上没有超过确定的阈值的利益相匹配,并返回与市场利益无法匹配的输入订单的任何不匹配的部分,而没有 超过确定的阈值。

    Trading actual shares of a security in a round-lot-based system
    10.
    发明授权
    Trading actual shares of a security in a round-lot-based system 有权
    在一个基于批次的系统中交易安全的实际份额

    公开(公告)号:US07890411B2

    公开(公告)日:2011-02-15

    申请号:US10206397

    申请日:2002-07-25

    IPC分类号: G06Q40/00

    CPC分类号: G06Q40/04 G06Q40/00 G06Q40/06

    摘要: A round-lot-based system for trading of securities includes a plurality of client stations for entering quotes for securities and a server process. The system receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The system uses a graphical user that depicts aggregated quotes in an aggregate window, and a plurality of price levels of a product traded in the market. The system also aggregates round, odd, and/or mixed lot orders into an aggregate of actual shares. The aggregate of actual shares may be placed on a book and rounded down to the nearest round lot for displaying on the round-lot-based system.

    摘要翻译: 一个以批量为基础的证券交易系统包括多个用于输入证券报价的客户站和一个服务器进程。 系统从客户端接收报价,汇总报价,并导致在客户端系统上显示多个价格水平的所有汇总报价。 该系统使用描绘聚合窗口中的汇总报价的图形用户,以及在市场上交易的产品的多个价格水平。 该系统还将圆形,奇数和/或混合批次订单合并为实际股份的总计。 实际股票的总和可以放在一本书上,并舍入到最近的批次,以便在基于批次的系统上显示。