公开(公告)号：US07890417B2

公开(公告)日：2011-02-15

申请号：US12024050

申请日：2008-01-31

申请人： Paul Hanson ,  Mark Beddis ,  James Bird ,  Geoff Kratz ,  James Lee ,  Sik Ngai

发明人： Paul Hanson ,  Mark Beddis ,  James Bird ,  Geoff Kratz ,  James Lee ,  Sik Ngai

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q20/10 ,  G06Q40/025 ,  G06Q40/06 ,  G06Q50/188

摘要： A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.

摘要翻译： 描述和披露了一种系统和方法，用于在使用NBBO的特征进行公允定价的自动化和匿名事务中实现大量的证券交易。 自动交易系统和方法也将在某些情况下进行交易以进行交易，尽管实施交易的首选方法是通过自动交易。 然而，无论交易方式如何，交易对手方的匿名性都得以保留。 该系统和方法还对每个交易证券的NBBO进行测试，以确保其在自动交易发生前是有效的。

公开(公告)号：US08380612B2

公开(公告)日：2013-02-19

申请号：US13015054

申请日：2011-01-27

申请人： Paul Hanson ,  James Bird ,  James Lee ,  Mark Beddis ,  Sik Ngai ,  Geoff Kratz

发明人： Paul Hanson ,  James Bird ,  James Lee ,  Mark Beddis ,  Sik Ngai ,  Geoff Kratz

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q20/10 ,  G06Q40/025 ,  G06Q40/06 ,  G06Q50/188

摘要： A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the National Best Buy Offer (“NBBO”). The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.

摘要翻译： 描述和披露了一种系统和方法，用于在自动化和匿名事务中实现大量块证券交易，其中使用国家百思买报价（NBBO）的特征进行公允定价。 自动交易系统和方法也将在某些情况下进行交易以进行交易，尽管实施交易的首选方法是通过自动交易。 然而，无论交易方式如何，交易对手方的匿名性都得以保留。 该系统和方法还对每个交易证券的NBBO进行测试，以确保其在自动交易发生前是有效的。

公开(公告)号：US20090006266A1

公开(公告)日：2009-01-01

申请号：US12024050

申请日：2008-01-31

申请人： Paul Hanson ,  Mark Beddis ,  James Bird ,  Geoff Kratz ,  James Lee ,  Sik Ngai

发明人： Paul Hanson ,  Mark Beddis ,  James Bird ,  Geoff Kratz ,  James Lee ,  Sik Ngai

IPC分类号： G06Q40/00

CPC分类号： G06Q40/04 ,  G06Q20/10 ,  G06Q40/025 ,  G06Q40/06 ,  G06Q50/188

摘要： A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the NBBO. The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.

摘要翻译： 描述和披露了一种系统和方法，用于在使用NBBO的特征进行公允定价的自动化和匿名事务中实现大量的证券交易。 自动交易系统和方法也将在某些情况下进行交易以进行交易，尽管实施交易的首选方法是通过自动交易。 然而，无论交易方式如何，交易对手方的匿名性都得以保留。 该系统和方法还对每个交易证券的NBBO进行测试，以确保其在自动交易发生前是有效的。

公开(公告)号：US08065217B2

公开(公告)日：2011-11-22

申请号：US12370277

申请日：2009-02-12

申请人： Mark Beddis

发明人： Mark Beddis

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q20/10 ,  G06Q40/025 ,  G06Q40/04

摘要： A computer-implemented system and method are described for real-time portfolio balancing and/or optimization of portfolio holdings, preferably in Alternative Trading Systems (ATSs), that reduces execution risk and legging risk. The computer-implemented system and method also incorporate cash constraints to assist in reducing execution risks. A computer-implemented system and method include advantages such as exposure to broad market liquidity throughout the trading day, being dynamic so that a strategy can be adjusted depending on market conditions, the reduction of execution and legging risks, optimal fills, and limited market impact.

摘要翻译： 描述了计算机实现的系统和方法，用于实时投资组合平衡和/或投资组合优化，优选地在替代交易系统（ATS））中，这降低了执行风险和持续风险。 计算机实现的系统和方法还包括现金约束以帮助降低执行风险。 计算机实施的系统和方法包括诸如在整个交易日暴露于广泛的市场流动性的优点，是有活力的，以便可以根据市场状况，减少执行和搁置风险，优化填充以及有限的市场影响来调整策略 。

公开(公告)号：US20090210354A1

公开(公告)日：2009-08-20

申请号：US12370277

申请日：2009-02-12

申请人： Mark Beddis

发明人： Mark Beddis

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q20/10 ,  G06Q40/025 ,  G06Q40/04

摘要： A computer-implemented system and method are described for real-time portfolio balancing and/or optimization of portfolio holdings, preferably in Alternative Trading Systems (ATSs), that reduces execution risk and legging risk. The computer-implemented system and method also incorporate cash constraints to assist in reducing execution risks. A computer-implemented system and method include advantages such as exposure to broad market liquidity throughout the trading day, being dynamic so that a strategy can be adjusted depending on market conditions, the reduction of execution and legging risks, optimal fills, and limited market impact.

摘要翻译： 描述了计算机实现的系统和方法，用于实时投资组合平衡和/或投资组合优化，优选地在替代交易系统（ATS））中，这降低了执行风险和持续风险。 计算机实现的系统和方法还包括现金约束以帮助降低执行风险。 计算机实施的系统和方法包括诸如在整个交易日暴露于广泛的市场流动性的优点，是有活力的，以便可以根据市场状况，减少执行和搁置风险，优化填充以及有限的市场影响来调整策略 。