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Trading, matching, or bidding

Subclass of:

705 - Data processing: financial, business practice, management, or cost/price determination

705001000 - AUTOMATED ELECTRICAL FINANCIAL OR BUSINESS PRACTICE OR MANAGEMENT ARRANGEMENT

705035000 - Finance (e.g., banking, investment or credit)

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DocumentTitleDate
20080281749SYSTEM AND METHOD FOR HIGH-YIELD RETURNS IN RISKLESS-PRINCIPAL INTEREST RATE/YIELD ARBITRAGE - A system, method and strategy of investment can be executed in any currency and amount and, when constructed, can be executed and closed in certain steps to result in a pre-defined, guaranteed and quantifiable level of profitability for an investment without risk that the principal investment amount will be lost or depleted. The system, method and strategy also simultaneously guarantees the following results for all other transaction participants: (a) a pre-defined level of profit for the Investor and/or his Asset Manager (“Manager”) and the lender for the refinancing or discounting; (b) an option to call which when executed by the original issuer of the instruments will result in a profit for the original issuer (e.g. insurance companies, banks, brokerage firms, financial institutions, and/or corporations); (c) an exit strategy that allows each and every participant in the transaction to exit its original position without exposure to ongoing currency fluctuations, changes in interest rates and yields, or default by the issuers of financial products.11-13-2008
20080281748License market, license contracts and method for trading license contracts - A license exchange is provided that allows for companies who desire to obtain licenses for intellectual property and speculators to bid in order to set pricing for license contracts that provide for market rates to be set for such licenses. The exchange insures liquidity for such license contracts by providing market makers, scarcity features or modules and predetermined trading periods. In an embodiment the exchange may provide an electronic auction where license contracts may be traded by parties including patentees who may wish to avoid litigation and obtain fair and reasonable royalties for the patents underlying the license contracts being traded. The exchange also provides an alternate licensing resolution process where IP can be evaluated with respect to validity, valuated to determine a fair license rate and auctioned to licensees in a transparent bidding process.11-13-2008
20080281747RATING ENGINE FOR ENVIRONMENTALLY RELEVANT ITEMS - Methods and systems for facilitating exchange of rights associated with environmentally relevant items are provided. The methods and systems may include identifying a type of environmentally relevant item recognized by a market associated with an environmentally relevant action and providing a user interface whereby a user may access a rating relating to a particular environmentally relevant item.11-13-2008
20080281745System And Method For Requesting A Support Service From An Electronic Trading System - A system for providing a support service includes a memory and one or more processors. The memory stores context information associated with a trader of a trading system. The processors provide a button that when selected initiates the communication of a support service request requesting a support service for the trader. The processors receive the support service request. A communication session with a support entity is established in order to provide the support service to a client system of the trader, where the communication session allows the support entity to communicate with the client system. The processors send the context information to the support entity.11-13-2008
20080281746Computer-based method of commodity trading automation - The present invention introduces a method which may be implemented on a variety of computer systems. The method of the present invention can be used for commodity trading automation and provides the core components to build an actual system and use it for position and risk management, valuation, settlement, scheduling and other commodity trading processes.11-13-2008
20090018942SYSTEM AND METHOD FOR ONLINE AUCTION - A computer-implemented method of conducting an online auction includes the steps of receiving listing information from a seller for creating a listing for a product offered for sale by the seller, enabling the seller to select a chance-based incentive to encourage bidders to bid on the product, storing the listing information in a computer searchable database, the listing information identifying those listings having associated chance-based incentives, receiving one or more search requests including search criteria from one or more bidders, searching a database for products matching the search criteria, transmitting information for those products matching the search criteria such that a list of those products matching the criteria can be displayed to one or more bidders and identifying those products having a chance-based incentive, receiving one or more bids for the product from one or more bidders and identifying a successful bid for the product and the successful bidder placing the successful bid and determining whether the successful bidder is the winner of the chance-based incentive.01-15-2009
20110178916SYSTEM AND METHOD FOR CONSTRAINING DEPLETION AMOUNT IN A DEFINED TIME FRAME - Embodiments disclosed herein provide price protection on commodity purchases in which a consumer can select, accept, or otherwise agree to a depletion constraint on the consumption of the commodity thus purchased. Based on the agreed depletion constraint, a provider may adjust terms and/or the price of the price protection. In some embodiments, the depletion constraint can be time-based, quantity-based, value-based, or a combination thereof. In some embodiments, the depletion constraint can be linear. In some embodiments, a consumer may be required to purchase a certain amount of the commodity during a specified time frame. In some embodiments, the provider of the price protection may receive a payment from the consumer when the retail price of the commodity at the time of the purchase is below a specified floor price. In some embodiments, the commodity is motor fuel.07-21-2011
20110178914Block Trading System And Method Providing Price Improvement To Aggressive Orders - An exemplary embodiment comprises a method for trading items among a plurality of traders, the method comprising: (a) receiving a first order for at least one item from one of the traders into an electronic trading system, wherein the first order provides priority for said at least one item but does not reserve said at least one item; (b) receiving, from another one of the traders, a second order into the electronic trading system that matches said first order; (c) determining that at least a portion of the first order is available to be filled by at least a portion of the second order; (d) reserving said at least a portion of said first order for execution against said at least a portion of said second order; and (e) executing said at least a portion of said first order against said at least a portion of said second order.07-21-2011
20080262960Automated Electronic Commerce Data Extracting and Analyzing System - A method, apparatus, and computer readable storage to implement an automatic e-commerce site monitoring system. Data can be automatically gathered from online e-commerce sites such as online auctions and analyzed and stored in a database. A merchant can query the database to find all e-commerce sites selling their products. Suspicious transactions can automatically be identified to the merchant who then may have the option to shut down the particular offending sales. A suspicious transaction may be one that has characteristics likely of some prohibited activity, such as selling counterfeit or grey market goods.10-23-2008
20130024347Multi-Laterally Traded Contract Settlement Mode Modification - Stored data may define a multilaterally-traded contract type and specify final settlement of contracts conforming to the contract type by delivery of a defined quantity of a commodity. Additional data may be received, which additional data may indicate potential invocation of an alternate cash settlement mode for a plurality of contracts. Each contract of the plurality may be a contract conforming to the contract type. Further data may be received, with the further data indicating the alternate cash settlement mode is invoked for a group of contracts. The group may be all of the contracts of the plurality or a sub-portion of the plurality. Data may be transmitted to indicate cash final settlement of each contract of the group by payment of a cash settlement value instead of by delivery of the defined quantity of the commodity.01-24-2013
20110208637POWER TRADE SERVER, GREEN MARKET MANAGEMENT SERVER, TRADING MANAGEMENT METHOD, AND GREEN TRADING MANAGEMENT METHOD - There is provided a power trade server comprising a first certificate acquisition unit obtaining a first certificate certifying a storage amount of a first device for charging electricity a first user owns, from the first user eager to buy electricity, a second certificate acquisition unit obtaining a second certificate certifying a space amount of a second device for charging electricity a second user owns, from the second user eager to sell electricity, a power selling limitation unit limiting an electricity amount the first user can sell up to the storage amount of the first device for charging electricity based on the first certificate obtained by the first certificate acquisition unit, and a power purchase limitation unit limiting an electricity amount the second user can sell up to the space amount of the second device for charging electricity based on the second certificate obtained by the second certificate acquisition unit.08-25-2011
20110208635CREDIT EVENT FIXINGS - Disclosed are methods and systems for transacting credit derivatives. The methods and systems allow for the calculation of the final cash settlement prices for credit derivatives following a credit event, such as a corporate bankruptcy.08-25-2011
20120173403Systems and Methods For Trading of Privately Held Securities - A system and method are provided for a fully integrated, web-based, electronic trading platform for the primary issuance of private placement securities to pre-qualified and approved accredited investors and qualified institutional buyers. Further a transferable private securities system is provided that supports the secondary sale of securities, including equity shares in venture-backed companies. Embodiments also provide for an auto-execution method for electronic signing of documents required of buyers and sellers of privately held securities and methods for decoupling preference rights from common stock for privately held securities.07-05-2012
20100088219System and Method of Currency Conversion in Financial Transaction Process - A transaction process system (04-08-2010
20100088217GLOBAL COMPLIANCE SYSTEM - A system for implementing a compliance program in a financial institution is provided and includes a list database for storing material information regarding a plurality of entities that is known to said financial institution. Also included is a list manager that receives a compliance query from an affiliate of the financial institution having a status. The list manager provides a compliance response to the affiliate based on the plurality of entities and according to the status of the affiliate.04-08-2010
20100088214SYSTEM AND METHOD FOR MATCHING ONE OR MORE INCOMING ORDER TO A STANDING ORDER BASED ON MULTI-LEVEL ALLOCATION - A method of order allocation is disclosed. The method includes receiving an incoming order, establishing an inner market representing a first portion of an order book which may be defined as a function of an inner market parameter, designating the first portion of the order book as a priority and allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order book that includes the remainder of the order book not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a first-in, first-out (FIFO) algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm.04-08-2010
20100088213SYSTEM AND METHOD FOR MATCHING ONE OR MORE INCOMING ORDER TO A STANDING ORDER BASED ON MULTIPLE ORDER PRIORITY - A method of order allocation is disclosed. The method includes receiving an incoming order, establishing an inner market representing a first portion of an order book which may be defined as a function of an inner market parameter, designating the first portion of the order book as a priority and allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order book that includes the remainder of the order book not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a first-in, first-out (FIFO) algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm.04-08-2010
20100023438SYSTEM AND METHOD FOR ANALYZING AND ORIGINATING A CONTRACTUAL OPTION ARRANGEMENT FOR A BANK DEPOSITS LIABILITIES BASE - A system and method for analyzing and originating a contractual option arrangement for transacting a deposit liabilities base of a financial institution at predetermined prices and time periods. The arrangement may be adjusted due to attrition in the existing deposit base and/or an increase in newly attracted funds.01-28-2010
20100017323Method and System for Trading Combinations of Financial Instruments - A method and system are provided for obtaining and matching single leg and multi-leg orders to trade combinations of financial instruments included in a set of two or more selected financial instruments. In preferred embodiments, orders are received during a selected time period and eligible orders are processed with a combinatorial matching algorithm that is not constrained by limit prices. All embodiments have the advantages that matched multi-leg orders can be executed with no bid/offer spread on any of their legs, there is no risk that some legs of a multi-leg order execute while others do not execute, and said embodiments can be implemented by selecting two or more existing financial instruments without requiring the creation of any special financial instrument representing a multi-leg strategy.01-21-2010
20090125432Reverse Auction Based Pull Model Framework for Workload Allocation Problems in IT Service Delivery Industry - A call center system for allocating problem tickets for technical services by using a pull model auction to select an agent to work on the problem ticket. When the call center receives an order for a technical service, it develops a complexity estimate for the tasks specified in the problem ticket, and calculates deadlines for completing the problem ticket and for conducting the auction. Invitations to bid on the problem ticket are sent to potential agents on a bidder's list. The winning bid is selected from among the bids received back from the potential agents, and, after evaluating the bids, the problem ticket is transferred to the winning agent.05-14-2009
20100153257System and Method for Changing the View of a Trading Screen - A trading screen displays market information, such as working orders, buy and sell orders, and other items of interest, in association with values on a value axis. Each item of interest is therefore displayed in relation to the value axis to provide a trader with an intuitive display of the market. In one embodiment, a user can select a location associated with a particular value on the trading screen and upon an selection, for example, by a click of the mouse button, the value axis is repositioned so that the selected value is moved to a predefined location. During which, market information is moved to new locations that are associated with their respective values on the value axis.06-17-2010
20100153256SYSTEM AND METHOD FOR TRADING A FUTURES CONTRACT BASED ON A FINANCIAL INSTRUMENT INDEXED TO ENTERTAINMENT REVENUE - A method for trading a securities bundle indexed to entertainment revenue includes identifying a securities bundle comprising a first and second security. The first security is associated with a first entertainment event and the second security is associated with a second entertainment event. The first security is offered in an after-market for a buying price and a market price is determined for the first security in the after-market.06-17-2010
20100153255METHODS AND SYSTEMS RELATING TO FUTURES TRADING - A method for converting a trading position is expressed in terms of futures contracts into a trading position expressed in terms of at least butterflies of futures contracts. The method comprises: providing a trading position; for the earliest maturity date t06-17-2010
20110191232COMPLEX TRADING MECHANISM - A trading apparatus including an order receiver, an order storage module, a trade generator and a reporting module. the order receiver receives orders from at least one trader, wherein the orders include at least one complex order. The order storage module stores the orders. The trade generator generates trades based on the orders and a trading mechanism. The reporting module reports the trades.08-04-2011
20110191229SYSTEM AND METHOD FOR ALLOCATING ELECTRONIC TRADE ORDERS AMONG A PLURALITY OF ELECTRONIC TRADE VENUES - A method and system for optimizing allocation of large block orders for a security for maximum fill rate and minimum information leakage. The invention includes a process by which a block order for a security is allocated to a number of suborders which are then submitted to various electronic trading destinations to be filled. This allocation process involves ranking the suborders on the basis of a quality measurement, calculating and assigned a liquidity expectation to each suborder, determining a maximum target execution rate for the security that will not result in market impact, assigning orders to a trade list beginning with the higher rank suborder until the sum of shares represented in the list is equal to the maximum target execution rate, allocating the suborders not assigned to the trade list, and submitting the suborders to the corresponding electronic trading destination.08-04-2011
20130046673Securitization System and Process II - An investable product is designed, created and managed comprising a number of shares outstanding subject to a mandatory stock split or reverse stock split at the close of every trading period. An account comprising the investor share balance is configured to display on a daily basis the original share balance owned through the calculation of a factor. The product comprises an adjustable stop loss feature that provides investors with the opportunity to automatically reinvest their capital if they are stopped out. When the shares are held for one day or longer, a leveraged return is obtainable with no price path dependency or leverage drift.02-21-2013
20130046674SYSTEMS AND METHODS FOR ELECTRONICALLY INITIATING AND EXECUTING SECURITIES LENDING TRANSACTIONS - Systems and methods are provided for conducting securities lending transactions using an electronic trading platform. In accordance with an implementation, the electronic trading platform receives, from a trader, information identifying initial terms of a transaction to lend or borrow shares of a security. The electronic trading platform may generate an instruction to broadcast the initial terms to one or more counterparties, and may subsequently facilitate negotiations between the trader and the one or more counterparties for terms of the transaction. The electronic trading platform may execute the transaction in accordance with the negotiated terms.02-21-2013
20130046671WEBSITE FOR ACCUMULATING ORDERS OF FINANCIAL COMMODITIES AND INSTRUMENTS - A website serves for accumulating orders of financial commodities and instruments. By order accumulation of financial commodities and instruments, a large amount of orders from the investors are accumulated and then by these orders, the investors have the right to negotiate with the financial institutions. Since the amount of the orders is large, the financial institution must increase its services and reduce the fees. The order accumulation of financial commodities and instruments is deemed as a fixed business model with a great coverage. The great amount of the orders will cause the investors to have more profits. The investors of the orders could contract with several financial institutions so as to have joint services from the financial institution. Moreover concept of network center bank currency is disclosed for unifying different kinds of currencies. Thus, the cost for currency exchanging of international business can be reduced.02-21-2013
20090192933System and Method for Coordinating Automated and Semi-Automated Trading Tools - The present embodiments include methods, systems, and computer program products that provide tools for use in any type of electronic trading environment. In one aspect, leaning manager includes software that can be implemented on any type of computer device for tracking and/or coordinating the buying and selling of available market quantities by multiple automated or semi-automated trading tools. For instance, if more than one automated or semi-automated trading tool is leaning on the same tradeable object then the leaning manager may track and/or coordinate such action. The trading tools can use the tracked information and/or the allocated quantities and their prices to enhance their trading strategies.07-30-2009
20090192932SYSTEMS AND METHODS FOR PERFORMING INTERNATIONAL MONEY EXCHANGES - Disclosed are systems and methods for effecting international online financial transactions between individuals or between individuals and entities such as banks, merchants and other companies. In one embodiment, requests for international currency exchanges are processed in batch form. A currency accumulator may be used to keep track of currency exchange requests, where each currency is assigned a notional “bucket,” which is a symbolic representation of a database entry for the monetary amount which has been requested to be exchanged for a given currency. When the contents of a particular currency's “bucket” reaches a given level, the monetary amount in the bucket may be exchanged for an equivalent amount of a second currency.07-30-2009
20090192931METHODS OF LIQUIDATING PHYSICAL, DOCUMENTARY & OTHER ASSETS - Methods of enabling many, including the general public to convert their assets to stocks, such as common or preferred shares, bonds, warrants, etc., by providing an Entity which can accept assets in exchange for its stocks. Creating a market for said assets, for liquidating those without an efficient conventional market, especially after transferred to the entity is one adjunct to the methods. Providing a market for said stocks is another adjunct. Various other features to make the method appealing, acceptable to provides and users are introduced.07-30-2009
20090192930METHODS AND SYSTEMS FOR TRADING OPTIONS AND OTHER DERIVATIVES - In at least one aspect of the invention, systems are provided that comprise at least one computing device coupled to a plurality of other computing devices that are operable to retrieve market data for a plurality of risk reversals for a currency pair, determine a currency in which to quote skew for each of the risk reversals at a first time, determine that there has been a change in skew, and cause an interface screen to be displayed at least one of the other computing devices with a listing comprising the first and second risk reversals, the market data, and an indication of the change in skew of the at least one of the risk reversals.07-30-2009
20100010927METHOD AND SYSTEM FOR STRUCTURING THE OWNERSHIP OF AN INVESTMENT - A method of structuring ownership of an invention including the steps of receiving an investment commitment and a capital contribution from at least one investor, investing the capital contribution in a portfolio company, assigning a set of securities to the at least one investor based upon the capital contribution, the set of securities comprising a plurality of strips, and providing one or more of the plurality of strips to the at least one investor, wherein each of the plurality of strips is defined as a portion of the capital contribution and wherein at least one of the strips is dedicated for donation by the investor to at least one charity.01-14-2010
20090076944System for valuing and transferring interests in property or other goods - The invention that is the subject of this Disclosure is a method for valuing and transferring interests in property (whether real or personal, tangible or intangible) or goods. The system involves having parties that hold ownership interests in property or goods disclose to a third-party (but not to each other) a price at which they would be willing to either sell their interests to the other side, or buy out the other side's interests, submitting binding offers to the third party obliging them either to buy or sell at their stated price (in the unlikely event that the stated prices are the same), or, alternatively, at some other price in between the ones set forth in their offers that is more favorable to each of them and that is identified by the third party. The third party then makes a binding determination as to who shall buy, and who shall sell, and makes a binding determination as to the sale price, by following certain protocols and applying a formula, agreed to by the parties in advance, with respect to the numerical values submitted by the respective parties. The invention allows each party to always arrive at an agreed upon outcome, and allows each party always to arrive at an outcome that is either equal to or more favorable to that party than the outcome that that party proposed.03-19-2009
20110196780SIMULATION AUCTION FOR PUBLIC OFFERING - The invention provides a method and system to estimate demand, pricing, allocation and aftermarket demand for public offerings via a simulation auction using collaborative forecasting. The simulation auction incorporates features to enhance participant knowledge about a particular company and its proposed auction. The simulation auction may be used to collect information regarding likely or equilibrium pricing of actual offerings, as well as to generate demand curve provides for different types of participants (e.g. retail and institutional investors).08-11-2011
20110196779COMPUTERIZED METHOD FOR OPEN-ENDED INVESTMENTS - The investment liquidation and purchase adjustment method is an investment model for open-ended investments that takes into account the net asset value (NAV) of the mutual fund and an accumulated stock brokerage transaction commission fees. The accumulated commission fees are added to the net asset value per share prior to the purchase of shares of the mutual fund. Alternatively, the accumulated commission fees are subtracted from the net asset value per share prior to the liquidation of the shares. These additional fees flow into the assets of the mutual fund. As accumulated brokerage transaction commissions change each day because of the trading of the positions in the mutual fund, the brokerage transaction commission's percentage change on a daily basis, too. This also solves the problem of maintaining the true asset value for existing shareholders when there are share liquidations by existing shareholders, protecting the true asset value for the remaining existing shareholders.08-11-2011
20110196778High Performance Trading Data Interface and Trading Data Distribution Protocol - A network enables monitors, trading platforms and libraries to share information about customers' trading activities and locally recalculate customer trading limits resulting from these trading activities. A low-latency interface between a customer server, such as a server that employs algorithmic trading methods to generate buy and sell orders for securities, and a brokerage server that validates such securities trading orders is optimized for handling the securities trading orders. The interface supports a trading command set specifically designed for orders from customer trading application programs, and the interface formats received trading commands into compact messages that are sent over a high-speed communication link to the brokerage server. The interface receives order acknowledgement messages and the like from the brokerage server and invokes callback routines in the customer trading application program to report status information.08-11-2011
20110196777MULTI-BASKET STRUCTURE FOR EXCHANGE TRADED FUND (ETF) - An exchange-traded fund (ETF) has a multi-basket structure that allows shares of the ETF to be created using a different basket of assets than the basket of assets required to redeem shares of the ETF. A method for administering a multi-basket ETF comprises providing shares of the ETF to investors in exchange for assets defined in a published creation basket, providing assets defined in a published redemption basket to investors in exchange for shares of the ETF, and publishing a holdings basket that represents the assets held in the ETF. The multi-basket ETF can be used to implement an ETF holding assets that have a relatively low liquidity and/or accessibility. The multi-basket structure also enables financial strategies such as to minimize transaction costs, increase tax efficiency, access less liquid or less accessible markets or securities, and meet regulatory requirements and ETF investment objectives.08-11-2011
20110196776METHOD FOR FACILITATING EXCHANGE OF CONSUMER DATA - A method for facilitating the exchange of consumer data between consumers and providers is disclosed. The method includes collecting and storing consumer supplied data on a computer network, providing the consumer supplied data to one or more providers, providing consumer personal data to a provider having the highest bid, collecting the bid amount from the provider having the highest bid and providing a portion of the collected bid amount to the consumer.08-11-2011
20110196775Systems, Methods, and Media for Controlling the Exposure of Orders to Trading Platforms - Systems, methods, and media for controlling the exposure of orders to trading platforms are provided. In accordance with some embodiments, systems for controlling the exposure of orders to trading platforms are provided, the systems comprising: at least one hardware processor that: receives information for at least one order to trade a security; and for each of a plurality of trading platforms, determines how the at least one order is to be exposed to trading platform based on at least one of a default exposure setting for all orders for the trading platform, at least one filter for the trading platform, and an exposure status setting for the trading platform and the at least one order, and provides information for the at least one order to the trading platform.08-11-2011
20110196774DERIVATIVE TRADE PROCESSING - A system for derivative trade processing aggregates data relating to trades across a plurality of buy side and sell side firms. Requests are received from buy side and sell side firms to search the aggregated data. The system searches the aggregated data provides a listing of trade data for trades between the requesting party and a plurality of counter-parties. The requestor may view all trades and tasks associated with those trades. The requestor may view the trades and tasks in prioritized lists. In response to a request, the system allocates a trade to a plurality of accounts.08-11-2011
20110196773SYSTEM AND METHOD FOR EVALUATING SECURITY TRADING TRANSACTION COSTS - A system and method for comparing investment transaction costs of institution peers includes database and a processor coupled to a network. The processor may be configured receive, via the network, security transaction data of investment institutions, which included data for traded securities, transaction order sizes, execution prices, peer identities and timestamps. The processor is further capable of grouping transaction data into groups of orders, calculating order costs and environmental factors for each order, and calculating a peer's average order cost within each group. The data are stored in the database so that it may be retrieved and displayed.08-11-2011
20110196772Systems, Methods, and Computer Program Products for Creation and Trading of Enhanced Bonds - A system, method, and computer program product are provided for the creation of enhanced bonds. Enhanced bonds are backed by the security of a credit default swap contract without the need for separate purchase thereof. A bond dealer is able to exchange a traditional bond instrument, which has been issued in a manner that permits the exchange, for enhanced bonds by selling the credit default swap contract to an eBond LLC and tendering the exchangeable bonds for eBonds through the bond indenture trustee. The enhanced bond facilitator calculates the exchange rates for these instruments at the time of exchange based on several variables, including the cost of the underlying credit default swap contract for a desired level of protection.08-11-2011
20090099953METHOD, COMPUTER PROGRAM PRODUCT, AND APPARATUS FOR PROVIDING REVERSE AUCTION TRANSPORT SERVICES - A method, computer program product, and apparatus for providing reverse auction services are provided. A reverse auction request for transportation or a reverse auction request for delivery is received from a communications device. Geographical location information of an origination location and a destination location for the reverse auction request for transportation or delivery is received from the communications device. The reverse auction request for transportation or delivery is transmitted. Bids to the reverse auction request for transportation or delivery are received. The bids to the request for transportation or delivery are transmitted to the communications device.04-16-2009
20130211997System and Method for Coalescing Market Data at a Client Device - A client device coalesces data received from an exchange, and provides a client application such as a graphical user interface with the opportunity to process fewer, but up-to-date, data updates from an exchange when a large volume of prices becomes available. Accordingly, the trader can be assured of receiving updated information that are fed to the client applications at a rate that is cohesive with that client device's processing speed.08-15-2013
20130211990Risk Assessment - A risk assessment system comprising: memory for storing information about positions belonging to a portfolio of financial instruments, the portfolio comprising at least one or more orders that have been accepted but not matched; and a control arrangement configured to receive information about a new order associated with the portfolio, carry out a risk assessment for the new order based on the information about the new order, information about any trades in the portfolio and information about the one or more accepted orders, and determine whether to accept the new order based on the risk assessment.08-15-2013
20110202451System and Method for Graphically Displaying Market Related Data Using Fixed Size Bars - A system and method are provided for displaying market related data, such as traded volume at each price level, or any other trader-selected values, using one or more fixed size bars. In one preferred embodiment, a graphical display interface is provided and includes a plurality of fixed size bars that display traded volume at different price levels. In such an embodiment, the length of each bar may correspond to a predefined maximum value, and each bar may be progressively color-coded using a first graphical format to represent traded volume that is lower than the maximum value. If the traded volume exceeds the maximum value, the overflow value may be represented by progressively color-coding the bar using a second graphical format that may be used in relation to the first graphical format color-coding.08-18-2011
20110202450Exchange Traded Note Indexed to a Single Product - Systems and methods are provided for creating and managing Exchange Traded Notes (ETNs) which are indexed to a single product such as a stock or another financial instrument. The ETN may be created by selecting a stock, and conducting a broker poll to determine the level of the index related to the ETN.08-18-2011
20110202449System and Method for Event Driven Virtual Workspace - A system and method for an event driven virtual workspace are described. According to one example method, a trader can define a plurality of windows to be associated with a virtual workspace. Also, the trader could define one or more triggering events, the combination of which may be used to activate the virtual workspace. In such an embodiment, when the system detects the one or more triggers, the system can attempt to activate the virtual workspace. According to the example method, the trader may place a number of limiting conditions before any states of the currently displayed windows are modified such that the triggered virtual workspace could be displayed. If no limiting conditions are detected, the system can display the triggered virtual workspace.08-18-2011
20110202448Agency payment system - An agency payment system for transactions covered by a virtual market control entity between participants. The system determines all payments required to be made by each virtual market control entity participant on a given day. It nets all of each of the participant's required payments to be made with the payments received by the virtual market control entity on the previous day due to each participant to obtain a net cash movement, either from the virtual market control entity to the participant's account or from the participant's account to the virtual market control entity. It transfers between the participant's account and the virtual market control entity's account and each participant's account the net cash movements to the virtual market control entity's account. It then transfers between the virtual market control entity's account and each participant's account the net cash movements to the participant's account.08-18-2011
20110202447Financial data processing system - To process financial articles of trade, real time data is collected from a plurality of liquidity destinations in trading at least one of securities, commodities, options, futures and derivatives, the real time data including information on submitted transactions of financial articles of trade. The real time data collected from the plurality of liquidity destinations is aggregated. The real time data is streamed in a standardized form. User criteria are established to identify relevant portions of the streamed real time data. The streamed real time data is analyzed according to the user criteria. The analyzed real time data is consolidated into a computer data base.08-18-2011
20110202446Method and system for grouping and marketing consumer premises equipment loans - The present invention teaches a variety of systems and methods enabling renewable energy consumer premises equipment (CPE) such as dual metering techniques. The present invention contemplates, among other things, supporting, by increasing a likelihood of meeting financing obligations, a consumer purchasing, leasing, installing and/or maintaining renewable energy CPE for power generation at a consumer premises. The renewable energy CPE may be attached to a structure on the consumer premises, disposed free standing on the consumer premises, or utilized through any other suitable means on the consumer premises.08-18-2011
20110202445Method and System to raise capital for single product entertainment media companies - A method and system for single product entertainment media corporations to develop initial public offerings (IPO) that are listed on an alternative trading system (ATS) and are bought sold and traded through the use of electronic communication networks (ECN) and other digital devices such as computers and smart phones. As well as having an option to create initial public offerings that take into account multiple iterations of the same intellectual property such as film sequels, television series or video game upgrades.08-18-2011
20120179597SYSTEMS, METHODS AND COMPUTER PROGRAM PRODUCTS FOR ADAPTIVE TRANSACTION COST ESTIMATION - A system, method and computer program product are provided for forecasting the transaction costs of a trade using empirical data and user-defined modeling constraints based on real-time data regarding changes in market conditions. In preferred embodiments, the invention acts as a forecaster whereby it accepts inputs from customers and identifies real-time market analytics, and provides dynamically adjusted ex ante cost estimates and metrics for the prevailing market conditions. Specific cost estimation and optimization algorithms can be provided to model transaction costs of a specific trade based on empirical data and real-time variables.07-12-2012
20130085923System and Method for Coalescing Market Data at a Network Device - A network device coalesces data received from an exchange, and provides a user with the opportunity to receive fewer, but up-to-date, data updates from an exchange when duplicate prices become available or a large volume of prices becomes available suddenly. Accordingly, the trader can be assured of receiving non-duplicated prices that are fed at a rate that is cohesive with that trader's connection speed. The present invention is designed to conserve on bandwidth thereby increasing the likelihood that bandwidth will be available to receive desirable market information.04-04-2013
20130085922MANAGING OUTLYING TRADING ORDERS - According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, electronic data including buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by electronically determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding one or more trading orders. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an electronic alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.04-04-2013
20130085921HOME ENERGY COLLABORATIVE MESH PLATFORM - A method to share, barter, lend, trade, rent and give energy through technology and peer communities. An online service which allows users to globally monitor, manage and redistribute energy (electricity) at the individual house level. This method of collaborative consumption gives members in the organized communities the benefit of ownership with reduced personal burden and costs. The fundamental value is that it provides an alternative to traditional forms of purchasing and ownership.04-04-2013
20100076885CLEARING AND SETTLEMENT OF TRADES IN OVER THE COUNTER MARKETS - A post-trade settlement system matches trade tickets relating to trades executed on a trading system or by another means. Matched trades are novated by executing a trade for the volume and price of the matched trade between a first counterparty and the settlement system and an equal but opposite trade between the settlement system and the second counterparty to the trade. The positions of each counterparty are continuously netted. There is no physical settlement of the positions but profit and loss is transferred periodically. If physical settlement is required a notice of interest is sent and a counterparty identified. A settlement swap is then executed between the settlement system and the two counterparties to the physical settlement. The settlement swap moves the position to be settled physically from the settlement system to each of the counterparties whereupon the amount moved can be settled by a transfer from one counterparty to the other.03-25-2010
20100076884TRADING RELATED TO FUND COMPOSITIONS - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.03-25-2010
20100076886Trading Platform - This invention concerns a trading platform suitable for derivative and foreign exchange transactions between wholesale banking clients operating in the global financial markets. In particular, the invention concerns an interactive, automated computerized trading platform for regulating the buying and selling of all or part of orders listed on the platform by traders. Using the platform a trader (a broker or dealer) is able to enter an order that includes a (offer or bid) price visible to counterparties as well as one or more better prices that are hidden from counterparties. The trader is also able to interactively respond to visible (bid or offer) prices in counterparties' orders by changing the prices in their own order. And, the platform responds automatically to a counterparty's order that includes a visible price which matches a price, whether visible or hidden, in the trader's order, to facilitate a trade between them. In another aspect the invention concerns a method of operating an interactive, automated computerized trading platform. In a further aspect the invention concerns a computer program product.03-25-2010
20100076883GENERATING RISK POOLS - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.03-25-2010
20120246059METHOD AND SYSTEM FOR REPRESENTING FINANCIAL MARKET TRANSACTIONS - A computer implement method of representing financial market transactions includes the steps of: recording a time an order was created in a course of sales; determining whether the order was for buying or selling of a fungible item; generating a buyer data stream representative of buying transactions according to the buying of such fungible items; generating a seller data stream representative of selling transactions according to the selling of fungible items, and representing the buyer data stream and the seller data stream on a chart, wherein the financial market transactions are simultaneously represented according to a volume of both buyer and seller transactions.09-27-2012
20120246056VALUATION OF DERIVATIVE PRODUCTS - Disclosed are a method, apparatus, and computer-readable medium for determining the value of a derivative product over nonconsecutive periods. The derivative product may be an interest rate swap product, which, when exchanged traded, normally is valued on a mark-to-market basis over consecutive periods. The product may be valued using swap value factors and settlement values according to the methodology disclosed herein.09-27-2012
20120246055METHOD FOR CUSTOMIZED MARKET DATA DISSEMINATION IN SUPPORT OF HIDDEN-BOOK ORDER PLACEMENT AND EXECUTION - Presented is a method that uses a system comprising a secure server to generate a customized market data stream for a client, according to the client's current involvement in, for example, market making or in portfolio management. Some alerts are distributed to all clients, others are sent to those clients that have one or more qualifying open master orders on a particular symbol. Still other alerts signify that a contra order is present in the book maintained by the secure server. The alerts facilitate hidden-book order placement and execution.09-27-2012
20120246053SYSTEMS AND METHODS FOR ELECTRONIC TRADING - Systems and methods of changing electronic trade order properties are provided. A GUI display is provided that displays features regarding placed electronic trade orders. The GUI may include further features for quickly and easily changing features. For example, a first button maybe provided that lists current properties of a selected electronic trade order and is not available for user interaction. A second button may be provided that lists an available change to the current properties of the selected electronic trade order and is available for user interaction. If the second button is activated, one or more electronic cancel and replace orders are executed to create a new order having properties of the selected electronic trade order and at least one changed property that is listed by the second button. The GUI is then updated to reflect the new orders.09-27-2012
20120246052Method and Apparatus for Managing Orders in Financial Markets - An integrated order management engine is disclosed that reduces the latency associated with managing multiple orders to buy or sell a plurality of financial instruments. Also disclosed is an integrated trading platform that provides low latency communications between various platform components. Such an integrated trading platform may include a trading strategy offload engine.09-27-2012
20120246050Systems and Methods For Locating the Best Cash Market For a Commodity - Systems and methods create a display of commodity purchasers offering the highest net commodity price for a commodity, the net price taking into account the actual transportation and storage costs of the commodity seller for a transaction. In one implementation, the method includes receiving a type of commodity, a storage cost per bushel for the type of commodity, and a transportation cost per bushel for the type of commodity and identifying commodity purchasers for the type of commodity. The method further includes retrieving basis data for the type of commodity for each of the commodity purchasers, the basis data including at least a basis for multiple transaction periods. The method further includes determining distance data between the seller and each of the purchasers, calculating a commodity price for each of the transaction periods for each of the identified commodity purchasers based on the basis data, the distance data, the storage cost, and the transportation cost, and determining which of the purchasers offers the highest commodity price.09-27-2012
20100114753METHOD AND SYSTEM FOR AUTOMATIC COMMODITIES FUTURES CONTRACT MANAGEMENT AND DELIVERY BALANCING - A method and system for providing automatic commodity futures contract delivery management and balancing. A single electronic invoice and one or more different types of electronic reports are dynamically and automatically created for a trading party by allocating plural electronic delivery invoice receipts for plural futures contracts received from one or more electronic trading exchanges or open outcry trading exchanges where commodities futures contracts are being traded. The single electronic invoice includes a priority delivery order calculated using a pre-determined delivery priority scheme for plural futures contracts for which physical delivery of an associated commodity is occurring and provides an “integrated viewpoint” that aggregates commodity futures contract delivery management and balancing across all trading accounts on all commodity futures electronic trading exchanges and/or all commodity futures open outcry trading exchanges.05-06-2010
20130036039SYSTEM FOR MARKET HEDGING AND RELATED METHOD - A system includes a data collection module that collects data for a plurality of fuels. A selection module selects fuels from the plurality of fuels based on the properties of the fuels to generate sets of fuels. A benchmark generating module that generates fuel commodity benchmarks indicating aggregate qualities of the sets of fuels. A fuel commodity benchmark for a set of fuels is generated based on weighted averages of the properties of the fuels in the set of fuels. A communication module communicates the fuel commodity benchmarks to traders and that receives orders for derivatives contracts from the traders based on the fuel commodity benchmarks. An order processing module processes an order for derivatives contracts based on differences between actual properties of the fuel to be physically delivered under the terms of an operative derivatives contract and the aggregate qualities indicated by an operative fuel commodity benchmark.02-07-2013
20130080308Dynamic Leaning Tools - Certain embodiments provide an “increase on re-quote” tool. According to the techniques of this tool, when the quantity available in a lean leg increases after the quantity of a quoting order has previously been decreased, the quantity for the quoting order is not increased until the quoting order is to be re-quoted at another price level. Certain embodiments provide a “quote inside market only and reload” tool. According to the techniques of this tool, a quoting order only leans on the inside market and, when the leaned on quantity decreases, the quoting quantity is reduced as appropriate. The quoting quantity does not increase, even if the available quantity in a lean leg increases. Instead, when the quoting order is filled, the strategy order is reloaded by placing a new quoting order for the remaining desired quantity, again leaning on only the quantity available at the inside market.03-28-2013
20130080310Returns-Timing for Multiple Market Factor Risk Models - Until recently, risk models have been built using low frequency data, such as weekly or monthly data. This approach has resulted in a necessary compromise between model stability for which one needs a long history of data, and model responsiveness, for which, the shorter the history, the better. Stability plus responsiveness can be achieved if one uses daily data, which allows for a large number of observations to be used in model estimation without using long out-of-date data. Daily data have other problems, however, as the differing closing times of markets worldwide may induce spurious relationships across model factors. In particular, correlations between markets may appear lower than they truly are due to a market lag To address such issues, a stable, daily data-based factor risk model is described which takes account of the differing market closing times and corrects the model factor correlations and specific returns accordingly.03-28-2013
20130080312MARKET TRADE SUPPORTING APPARATUS AND METHOD OF THE SAME - A market trade supporting method and a market trade supporting apparatus that are able to determine the appropriate price of stop order. The sell order price of stop order for loss cut is set based on the lowest price in the period of temporary fall which is until it rises to exceed the level of prior declines after the market price temporary falls when it is on uptrend. The buy order price of stop order for loss cut is set based on the highest price (ceiling price) in the period of temporary rise which is until it calls to exceed the level of prior rises after the market price temporary rises when it is on downtrend.03-28-2013
20130080311SYSTEMS AND METHODS FOR SECURITIZING A COMMODITY - A method for creating trust shares in a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a creation order comprising a request to create the trust shares, confirming delivery into a trust account of an amount of physical commodity associated with the trust shares being requested, and releasing the requested trust shares based upon the amount of physical commodity delivered into the account. A method for redeeming trust shares associated with a physical commodity, the trust shares being tradable over an electronic communications network, includes receiving a redemption order comprising a request to redeem an amount of trust shares associated with an amount of the physical commodity held in a trust account, receiving the amount of the trust shares, and releasing from the trust account the amount of the physical commodity associated with the amount of the trust shares received.03-28-2013
20130080309SYSTEMS AND METHODS FOR PROVIDING A DYNAMIC ACCESS PAYMENT IN ASSOCIATION WITH A SECURITY - The disclosure describes systems and methods of utilizing an OTC trading system to convey and manage access fee and access rebate information. Specifically, the disclosure provides methods for providing an access payment in association with a security for display on a graphical user interface. The access payment is calculated using an access payment multiplier and quote price. The access payment multipliers can be applied either the Broker Dealer Level or the Quote Level. A Quote Level access payment multiplier is applied to a specific security wherein an access payment multiplier at the Broker Dealer Level is applied as a global default. Once an access payment for a security is calculated, the access payment is analyzed to determine whether it is in within the defined regulatory parameters. An access payment that is in within the parameters is provided for display while an access payment that is not is rejected.03-28-2013
20130036041System and Method for Order Placement in an Electronic Trading Environment - A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.02-07-2013
20130036040METHOD AND SYSTEM FOR FINANCING THE GRADUAL ACQUISITION OF QUOTAS OF AN ESTATE - A method for implementing a gradual acquisition plan on the part of a purchaser of an estate which is registered in the name of a legal entity represented by quotas; the quotas are transferred by the bank, owner of the legal entity holder of the estate, to the purchaser, according to a certain gradual reacquisition plan; the method includes reacquisition phases on the part of said purchaser of quota or portions of it through the payment, to the bank, of monthly installments, each including the quota value and relative interest; said quotas can be exchanged by an electronic system in order to exchange the estate with another property by mean their respective legal entity.02-07-2013
20090024512ORDER ROUTING SYSTEM AND METHOD INCORPORATING DARK POOLS - A method for routing a financial instrument order incorporating dark pools and at least one electronic communication network (ECN) or exchange. The financial instrument order includes an identification of a financial instrument, a bid or ask price, and a number of units to be traded. A ping order of the dark pools is determined. The financial instrument order is routed to a top dark pool as an immediate or cancel order. If the financial instrument order is not complete, the ping order is updated by removing the top dark pool. If any dark pools remain in the updated ping order, the financial instrument order is routed to the next dark pool. This process continues until all of the dark pools have been pinged or the financial instrument order is complete. If the financial instrument order is not complete, the financial instrument order is routed to the ECN or exchange.01-22-2009
20080208730Wave volatility measuring method - A method for detecting wave volatility involves an objective definition for trend development. A new labeling scheme for monitoring price movements in the market categorizes development and degree of trend automatically. A means for detecting degree of trend involves a novel use of a mathematical equation for detecting trend development by detecting distance retraces a portion of its peak to trough movement.08-28-2008
20090171831Managing an Insurance Plan - Described are computer-based methods and apparatuses, including computer program products, for managing insurance plans. Multiple bids are received from multiple reinsurance companies for the price of a unit of an insurance product (e.g., a fixed annuity paying ten dollars a month starting at the age of sixty five). The unit of the insurance product is associated with a set of one or more risk factors (e.g., age, range of ages). A bid is selected from the bids based on a relationship between the bids (e.g., lowest bid, lowest weighted bid). The selected bid is associated with a selected reinsurance company. Units of the insurance product associated with the selected bid are offered to participants associated with the set of one or more risk factors.07-02-2009
20120209759Method and Interface for Consolidating Price Levels on a Trading Screen - A trading screen may display price and quantity information for price levels in a static axis of prices. The static axis of prices may be divided into two or more different regions. The price and quantity information for one or more of the regions may be consolidated from price and quantity information from plurality of un-consolidated price levels.08-16-2012
20120209756METHOD AND SYSTEM FOR PROVIDING A DECISION SUPPORT FRAMEWORK RELATING TO FINANCIAL TRADES - The system and method described herein includes techniques for making trading decisions based on one or more predictions, outcomes, market data and optimization algorithms. More specifically, the system and method described herein allow users to provide a variety of inputs for consideration by a variety of optimization techniques. The system and methods are flexible with respect to the type of input received and the types of output desired.08-16-2012
20130041801Selective Suppression of Implied Contract Generation - An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for suppression of the calculation and/or subsequent listing of an implied order when the order is either undesired or unnecessary in the market therefore.02-14-2013
20130041799Pricing a Forward Rate Agreement Financial Product Using a Non-Par Value - Computer readable media, methods, and apparatuses may be configured for processing a yield of a first financial instrument, determining a single floating rate payment based on the yield, determining a single fixed rate payment based on a fixed interest rate, determining a present value of the single floating rate payment, determining a present value of the single fixed rate payment, and generating a quote for a forward rate agreement index financial product as a function of the present value of the single floating rate payment and the present value of the single fixed rate payment.02-14-2013
20100100474METHODS OF DETERMINING TRANSACTION PRICES ON ELECTRONIC TRADING EXCHANGES - A method of determining transaction prices on an electronic trading floor, or exchange, requires every participating trader to maintain a bid for each share being traded on the exchange except for those shares held by the trader. Bids are maintained in an electronic database, but not disclosed to traders. When a trader desires to liquidate a share, whether asset or liability, the method enables the trader to liquidate at the most favorable bid. Trading is thus accomplished on the electronic floor without using any offers and without disclosing bids.04-22-2010
20080319893Intelligent Routing Of Electric Power - A method and system for dynamically routing electric power in real time in accordance with parameters submitted by buyers and sellers of electric power using a feedback control scheme. A control node is arranged for receiving the parameters via a wide area network and to generate a route plan based on the parameters as well as current supply and demand in a network. The control node is also connected to the transmission and distribution systems to dynamically route electric power between matched buyers and sellers to effect the route plan.12-25-2008
20100042532MARGIN TRADING SYSTEM, COMPUTER PROGRAM AND STORAGE MEDIUM - Extensibility of a margin trading system is provided for and improvement of processing quality can be achieved easily. The margin trading system comprises a plurality of processing unit for receiving and processing order information from a plurality of trading terminals, a calculation unit for calculating a second sum value based on a first sum value which is the sum value of the order information received within a predetermined duration by each processing unit, an ordering unit for ordering each processing unit such that at least one of the first sum value is not less than the threshold value when the second sum value is not less than the threshold value and a cover-ordering unit for making a covering order to a transaction-covering bank terminal.02-18-2010
20100042531SYSTEM AND METHOD FOR DETERMINING AN INDEX FOR AN ITEM BASED ON MARKET INFORMATION - Systems and methods for determining an index for an item based on market information are provided. Market information about the item is received and compiled. A standard profile for the item is determined. Index information for the item is determined based on the compiled market information. The index information comprises historical price information and statistical information about the market for the item. The index information is displayed at a user interface and updated based on updated market information. Orders to trade futures and options contracts on the item may be received, communicated, and executed.02-18-2010
20100042530System and Method for Simulating an Electronic Trading Environment - Market data is recorded from a real live exchange. The recording data can be played back in real time or delayed, in any manner, to simulate the recorded market. Moreover, one or more users can participate in the simulated market just as if they were participating in a real-live market. The system provides a realistic trading environment without the associated risks of trading in a live-market such as losing money and the cost of making trades. The system may be used for training purposes and for purposes of testing and analyzing various trading strategies. Software developers and testers may also utilize the realistic environment to develop trading products or applications. Additionally, the system provides a means for demonstrating trading application products.02-18-2010
20100042529Fund Bidding Method - For relieving a bid winner from receiving an unexpected amount of total fund while there is no member of a mutual fund association issuing a qualified bid, which is higher than a basic bid, a fund bidding method tends to relieve the bid winner by providing an option for each member of the mutual fund association to issue an unqualified bid, which is lower than the basic bid. According to the fund bidding method, while there is no member issuing the qualified bid at a current term, a bid winner is determined to be a member issuing a lowest unqualified bid, is going to be paid with a compensable total fund at the current term.02-18-2010
20090157541AUTOMATED TRADING SYSTEM AND METHODOLOGY FOR REALTIME IDENTIFICATION OF STATISTICAL ARBITRAGE MARKET OPPORTUNITIES - A program for identifying and automatically acting on statistical arbitrage opportunities between related equities and contracts. The present invention describes an improved technique to perform statistical-pairs arbitraging in a dynamic marketplace with less risk than prior art approaches. The present invention employs an array of recent data and performance ratios involving bid and ask prices for correlated items, such as stocks.06-18-2009
20090157540DESTINATION AUCTIONED THROUGH BUSINESS OF INTEREST - In order to provide advertising to a user concerning an intended travel destination, an auction takes place where multiple companies place bids to have an advertisement disclosed. Bid selection can take place according to various parameters, including matching a user interest, a bidder that offers a highest price, etc. Bids can be solicited and then received—once a bid is selected for presentation, the advertisement can be received, evaluated, and then presented to a user.06-18-2009
20090157539Diverse options order types in an electronic guaranteed entitlement environment - An enhanced system and method for handling, matching and executing a diverse group of limit-priced orders in an electronic options environment is disclosed. Most of the order types disclosed are automatically repriced and reposted as the NBBO changes to increase their execution opportunities. Market maker entitlements are integrated with the order processing, so that the market maker is guaranteed an allocation of the trade if the market maker is at the NBBO when an order priced at or better than the NBBO is received. Once posted to the order book, the displayed price of an order may be eligible for preferential execution in a market maker entitlement process, regardless of whether the displayed price is original or has been automatically repriced.06-18-2009
20100106637SYSTEM AND METHOD FOR REPLENISHING QUANTITIES OF TRADING ORDERS - A system for replenishing trading orders comprises a memory coupled to a processor. The memory stores a trading order comprising a total quantity of a product, and at least one formula to determine a displayed quantity for the trading order. The processor applies the formula to determine the displayed quantity. The processor further determines a reserved quantity based on the determined displayed quantity and the total quantity. The processor communicates the trading order having the determined displayed quantity and the determined reserved quantity.04-29-2010
20100106636INTERPROGRAM COMMUNICATION USING MESSAGES RELATED TO ORDER CANCELLATION - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.04-29-2010
20090248566Spread Matrix Dartboard System and Method for Placing Trade Orders on an Electronic Exchange - Provided is a system and method for placing trade orders on an electronic exchange using a client terminal. The client terminal includes a user input device and a display device. The method includes displaying a spread matrix on a trading screen of the display device, the spread matrix displaying at least two base dartboards and at least one compound dartboard. The method also includes displaying a market depth of a first tradable instrument on the first base dartboard, displaying a market depth of a second tradable instrument on the second base dartboard, and displaying on the compound dartboard a dynamic display of a plurality of prices of a market depth of a compound. The compound represents a spread market of the first and second tradable instruments. The method further includes displaying a selected-price display on the compound dartboard, the selected-price display displaying a selected price of the plurality of prices in response to detecting a first user action via the user input device, and placing a trade order for the compound at the selected order price on an exchange host system in response to detecting a second user action via the user input device.10-01-2009
20130041805FINANCIAL PRODUCTS BASED ON A SERIALIZED INDEX - A method for trading financial instruments includes listing, by an electronic financial exchange, financial instruments that specify which version of a serialized index the financial instrument tracks; receiving, by the electronic financial exchange, an electronic, indication to buy or sell the financial instrument; executing, by the electronic financial exchange, a trade involving the financial instrument; and settling the financial instrument according to the version of the serialized index specified by the financial instrument02-14-2013
20130041804System and Method for Activity Based Margining - A system and method for factoring in a trader's trading activity into the margin requirements is disclosed. In the securities arena, day traders are assessed different margins than non-day-traders, however, the specific profile of the trader is analyzed (that is, the same rule applies to all day traders).02-14-2013
20130041803METHOD FOR AGGREGATING AND VALUING INTELLECTUAL PROPERTY IN AN EXCHANGE - The present invention relates to methods of aggregating and valuing intellectual property in a financial exchange. The present invention provides means whereby holders of intellectual property rights may sell, or license intellectual property to an aggregator and receive shares of stock or cash for the contribution based on the aggregated value of the intellectual property held by the aggregator.02-14-2013
20130041802Derivative Products - Systems and methods are described for processing and clearing derivatives products with a binary outcome and having a final settlement based on a triggering event. A computer system configured to process and clear derivative products can accept initial and adjusted performance bonds from buyers and sellers, and adjust the market price of the derivative product at intervals. The market price may be adjusted on a mark-to-market basis and through analysis of other information, e.g., the credit rating of a reference entity. As a result of price adjustments, cash flow may be generated between buyers and sellers. The derivative product may pay a predetermined final settlement amount or percentage upon the triggering of a predetermined event. However, upon expiration of the derivative product, the derivative's market price is settled to zero and the agreement is terminated.02-14-2013
20130041800DYNAMIC PRICE IMPROVEMENT - A system and method is provided to enable traders to price improve on an item at an amount less than a predetermined pricing increment. Traders can improve on the price of the item using different price improvement levels (e.g., four different levels). Dynamic price improvement enables a dynamic order to maintain a predetermined position in a trading stack relative to other orders in the stack. The dynamic order may maintain its position in the trading stack by adjusting (e.g., increasing or decreasing) its price improvement level depending on market conditions. For example, a dynamic order may increases its price improvement level such that it stays at least one level ahead of the next best order in the trading stack. If the level cannot be further increased, the dynamic order may use its timestamp to maintain its position in the stack.02-14-2013
20100030684Click Based Trading with Intuitive Grid Display of Market Depth and Price Consolidation - A method and system for reducing the time it takes for a trader to place a trade when electronically trading on an exchange, thus increasing the likelihood that the trader will have orders filled at desirable prices and quantities. The “Mercury” display and trading method of the present invention ensure fast and accurate execution of trades by displaying market depth on a vertical or horizontal plane, which fluctuates logically up or down, left or right across the plane as the market prices fluctuate. This allows the trader to trade quickly and efficiently. The price consolidation feature of the present invention, as described herein, enables a trader to consolidate a number of prices in order to condense the display. Such action allows a trader to view a greater range of prices and a greater number of orders in the market at any given time. By consolidating prices, and therefore orders, a trader reduces the risk of a favorable order scrolling from the screen prior to filling a bid or ask on that order at a favorable price.02-04-2010
20120215673ELECTRONIC TRADING SYSTEMS AND METHODS - Electronic trading systems and methods provide users with the opportunity to trade financial instruments such as equities, foreign exchange, bonds, and swaps. Swaps may be defined using specialized electronic swap term sheets. A user who proposes a swap may select other users and invite them to bid on the swap. The system may initiate an auction for a proposed swap. Bidding users may bid until the swap auction is complete. The swap may be confirmed, and swap terms downloaded to a user's risk management or back office software.08-23-2012
20120185373REGISTRY OF U3 IDENTIFIERS - An identifier for an entity is generated by receiving, at a participant computer, a prefix from a regulatory entity; receiving, at the participant computer, a suffix from a market participant; and appending, by the participant computer, the prefix to the suffix to generate the identifier. The identifier may be sent from the participant computer to a name server computer that is part of a publicly accessible network of computers07-19-2012
20090125433Best pre-match routing (of foreign exchange orders) - This invention relates to a method of matching Foreign Exchange orders in a system comprising a market taker, a third party system and a matching host system. The method comprises the steps of the market taker sending an order to the matching host system and the matching host determining whether the order can be filled. If the order cannot be filled immediately, the matching host duplicates the order and sends a copy of the order to the third party system. Once one of the third party and the matching host become able to fill the order, the matching host cancels the order from the other of the third party and the matching host. It is possible to commit to orders in the matching host and roll back those orders if they have been fully or partially filled in the third party system so that orders are not filled twice.05-14-2009
20090125431Displayed and dark equity options electronic order book with market maker participation - An enhanced system and method for executing options trades are disclosed. The lead market maker entitlements are integrated with sophisticated order types, including dark order types, so that the lead marker maker is guaranteed an allocation of the trade if the lead market maker is at the NBBO when an order priced at or better than the NBBO is received. The lead market maker is not provided an opportunity to price improve to execute with a specific incoming order. Additionally, market makers who are not the lead market maker in an option series may be granted the privileges of a lead market maker for the purpose of executing with a specific incoming directed order if the designated market maker is at the NBBO when a directed order priced at or better than the NBBO is received. The system and method disclosed encourages market makers to quote the best price possible, which in turn has the effect of narrowing spreads. Furthermore, as only displayed orders at the NBBO are eligible to execute ahead of market makers quoting at the NBBO, the system and method encourages users to display their best prices and sizes to the marketplace.05-14-2009
20090125438TRADING TOOL TO ENHANCE STOCK AND COMMODITY INDEX EXECUTION - 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.05-14-2009
20090125435Trading Plaftorm System and Method for Diamond and Precious Stone Transactions - The transaction method and system facilitates sales of diamonds or stones. A searchable database of stones includes, for each stone, an offer to sell, a weight-carat, other stone characteristics and an electronic copy of a grading lab certificate which uniquely identifies each stone from all other stones in the database. A search displays, for each stone, the offer and stone weight, stone characteristics and electronic access to the stone's certificate. The system permits a prospective buyer to “buy now,” which closes the transaction at the posted offer, or “bid now” wherein the system logs a bid value and an expiry time. Other bids are posted and displayed, in a primacy order until (a) the seller “buy now at the bid” or (b) withdraws the offer or (c) replaces the offer with a subsequent offer. Preferably, offers: displayed in time sequence and bids: displayed by primacy of price and expiry.05-14-2009
20090125434Method of handling EFP transactions - This invention relates to a method of handling exchange for physical (EFP) transactions in a system comprising a matching host, at least one customer and at least one market maker. The method comprises the steps of the customer sending an order to the matching host, the matching host normalising the order and on finding a match to the normalised order offered by a market maker, simultaneously generating a spot transaction and a swap transaction before reporting details of the simultaneously generated spot and swap transactions. By normalising the order, the EFP transaction is handled in a very simple and efficient manner, whilst complying with all necessary and relevant regulatory requirements. Furthermore, by simultaneously generating both the spot transaction and a swap transaction to fulfill the order, the matching host fulfills the relevant regulatory requirements to carry out the EFP transaction in a manner that will stand up to subsequent scrutiny.05-14-2009
20090125437Direct on-line mortgage auction network - The present invention provides a computerized (Internet, online) network for home mortgage borrowers to compete against each other and other mortgage companies (brokers) in an auction format for certain pools of funds. These funds are provided to the auction from the secondary mortgage market in pools on a daily (hourly) basis. The present invention provides qualified participants with a direct link to the secondary mortgage market, hence bypassing some middlemen (wholesalers and retailers) in the process. Participants go to a common Web site and complete a loan application. The participants then electronically submit the loan application to the common Web site. The loan application is then underwritten, and if approved, the participant is issued an approval code. With the approval code, the participant can then submit a bid at the auction. Subsequent to the approval of the bid, the borrower can close escrow at the interest rate and the bid price. The auction can change on a daily (hourly) basis, as pricing of the loan products is in real time figures.05-14-2009
20100094743LOW LATENCY TRADING SYSTEM - Systems and methods for transmitting trade orders from a client trading engine to an exchange where the trades are executed. The system may comprise a low latency system in communication with the client trading engine and the exchange server(s). The low latency system is for receiving trade orders from the client trading engine, performing one or a limited number of pre-order risk checks on the trade orders, and, when the trade orders pass the risk checks, transmitting the trade order to the exchange server(s). The system also comprises a post-order risk checking data center in communication with the low latency system via a network. The post-order risk checking data center is for performing post-order risk checks on the trade orders after the low latency system transmits the trade orders to the exchange server(s).04-15-2010
20130046675System and Method for Assigning Responsibility for Trade Order Execution - An embodiment of the present invention provides a system and method for a sponsoring organization to: (1) utilize a rules-based computer system to capture trade orders from sub-advisors (money management firms) in order to implement a pre trade compliance review process, thereby enabling the sponsoring organization to prevent the execution of trade orders by a sub advisor that violates securities laws and/or account restrictions; and (2) determine and assign, based on expected market impact of a trade order to buy or sell securities, whether responsibility (discretion over the decisions related to how, when and with whom a trade order is executed) for executing the trade order is assigned to the money management firm for an investment portfolio or to the sponsoring organization of that portfolio. Trade orders are categorized in real-time as “high touch” (significant effort and market impact) or “low touch” (insignificant effort and market impact).02-21-2013
20130046677FINANCIAL PRODUCTS BASED ON A SERIALIZED INDEX - A method for trading financial instruments includes listing, by an electronic financial exchange, financial instruments that specify which version of a serialized index the financial instrument tracks; receiving, by the electronic financial exchange, an electronic indication to buy or sell the financial instrument; executing, by the electronic financial exchange, a trade involving the financial instrument; and settling the financial instrument according to the version of the serialized index specified by the financial instrument.02-21-2013
20130046676METHOD AND SYSTEM FOR TRACKING DERIVATIVES POSITIONS AND MONITORING CREDIT LIMITS - A derivatives position tracking system that consists of a centralized trading engine with a trade history database capable of communication with a plurality of counterpart computers via a network to enable the execution of a derivatives transaction. The trading engine and counterpart computers enable the counterpart computers to initiate, unwind and assign requests. Upon execution of a tear-up or assignment, a record of such transaction is stored in the trade history database. Whether or not the tear-up or assignment is executed with the original counterpart, the original counterpart receives a notification of the tear-up/assignment and a new position with the counterpart is reflected in the position-tracking database. Additionally, a credit monitoring module can be used in connection with the derivatives position tracking system to enable the trading engine to alert counterparts when a derivatives transaction exceeds a pre-defined credit limit.02-21-2013
20130046672SYSTEM FOR MANAGING CONSTRUCTION PROJECT BIDDING - A system is disclosed that facilitates construction project bidding over a computer network. In one aspect, a construction project supervisor system may verify one or more aspects of bidder information before bidding. A bidder may submit payment information, an electronic mail address, and a telephone number to be verified. Verification may include utilizing the payment information to process a payment, and/or sending a verification code to the electronic mail address and/or telephone number. In one embodiment, the issuance of a bid bond associated with the prospective bid may be required to complete the verification process.02-21-2013
20130030982Model-Based Selection Of Trade Execution Strategies - Effective selection of trade execution strategies using a multi-dimensional model is disclosed. A relationship exists between order difficulty and execution strategy. Execution strategy depends on order difficulty, and order difficulty has many dimensions. The multi-dimensional model classifies trade orders according to the dimensions, and then maps these classified trade orders into suitable execution strategies. For each trade order, one or more appropriate strategies are automatically selected and presented to the trader to assist the trader in making an informed and timely decision.01-31-2013
20130030981Stock Market Prediction Using Natural Language Processing - A method of using natural language processing (NLP) techniques to extract information from online news feeds and then using the information so extracted to predict changes in stock prices or volatilities. These predictions can be used to make profitable trading strategies. Company names can be recognized and simple templates describing company actions can be automatically filled using parsing or pattern matching on words in or near the sentence containing the company name. These templates can be clustered into groups which are statistically correlated with changes in the stock prices. The system is composed of two parts: message understanding component that automatically fills in simple templates and a statistical correlation component that tests the correlation of these patterns to increases or decreases in the stock price. The methods can be applied to a broad range of text, including articles in online newspapers such as the Wall Street Journal, financial newsletters, radio & TV transcripts and annual reports. In an enhanced embodiment of the system statistical patterns in Internet usage data and Internet data such as newly released textual information on Web pages are further leveraged.01-31-2013
20130030980Method and System for Providing Option Spread Indicative Quotes - A computer network and method for electronically trading combinations of derivatives. One preferred method of trading includes providing quotes information to a central server, and determining indicative quotes for combination trades, and providing the non-binding, indicative quotes to market participants (which typically includes subscribers, but may also include market makers). A participant may then submit an e-RFQ, which is a request for a binding quote for the combination of derivatives. Market Makers may then elect to submit a binding quote for the corresponding derivative combination. Market participants may then elect to enter a binding order.01-31-2013
20130030979METHOD AND APPARATUS FOR DISPLAYING MARKET DEPTH AND OTHER INFORMATION ON A MOBILE PHONE, HANDHELD DEVICE, OR COMPUTER SYSTEM - An exemplary system according to the present disclosure comprises a server system (comprising one or more computing devices) that is in communication with one or more financial exchange systems and one or more data source computer devices (e.g., news sources). Also in communication with the server system are one or more mobile communication devices. The server system comprises a memory and a processor executing software that enables the server system to receive live market data and information from one or more of the financial exchange systems and the data source computer devices; aggregate and filter the data and information; according to one or more pre-set user preferences and/or one or more user-initiated commands; and transmit the aggregated/filtered data and information to one or more mobile communication devices via one or more live data feeds. The mobile communication device displays aggregated/filtered information in a single, interactive GUI.01-31-2013
20130030978METHOD AND SYSTEM FOR SECURITIZING A CURRENCY RELATED COMMODITY - Systems and methods for providing a tradable (e.g., exchange-listed) instrument by securitizing foreign currency using a foreign currency trust or other special-purpose vehicle that is established to hold one or more particular foreign currency and to issue foreign currency trust shares and/or receipts corresponding to the value of the foreign currency(s) held by the Trust. The foreign currency trust shares may represent a proportional interest in the Trust and/or the foreign currency held by the trust. The Trust may include one or more Trust accounts to receive and store the foreign currency deposited with the Trust. The Trust can operate to receive an investment amount in a first currency and provide shares or Trust receipts having a value in a second currency. The shares or receipts of the trust can be listed, quoted, and traded on a trading system.01-31-2013
20130030977System and Method for Improved Distribution of Market Information - A data distribution system and method are described herein to improve the distribution of market information to subscribing client devices. Market information updates are provided to subscribing devices over a communication link every time a change in the market occurs. If a bandwidth limitation is reached on the communication link, the preferred embodiments switch to a second mode of transmission such that the market information updates are provided only at predetermined intervals. The preferred embodiment monitors the bandwidth consumption to determine what mode of transmission to apply, and in response, it can dynamically change between modes of transmission. By dynamically adjusting the mode of transmission to comport with the current network bandwidth, the preferred embodiments may provide a network friendly, data intensive, and fast response market information feed.01-31-2013
20130030976SYSTEMS AND METHODS FOR PRICE EVALUATION OF ARTICLES OF COMMERCE - The invention is directed to systems and methods for indicating volatility adjusted price information for at least one article of commerce or market therefore, and various tools for providing valuation indicators for both current and historical price activity in terms of valuation rather than absolute price. The invention provides users indicators which quantify the degree in which a market is currently trading at fair value, overvalued or undervalued conditions using enhanced tools.01-31-2013
20130030975SYSTEMS & METHODS FOR EVALUATION OF ARTICLES OF COMMERCE - The invention is directed to systems and methods for indicating volatility adjusted price information for at least one article of commerce or market therefore, and various tools for providing valuation indicators for both current and historical price activity in terms of valuation rather than absolute price. The invention provides users indicators which quantify the degree in which a market is currently trading at fair value, overvalued or undervalued conditions using enhanced tools.01-31-2013
20130030974DEVICE AND METHOD FOR AUTOMATICALLY ALLOCATING AND TRANSFERRING FUNDS IN AN ACCOUNT - A device including a processor which automatically allocates and transfers funds in a sweep account between a primary on-balance demand account and one or more off-balance accounts in a manner which assists the bank in maintaining an optimal liquidity profile and capital structure. The device is adapted to prepare and analyze current data pertaining to the liquidity profile and capital structure of a bank and compare this data to predetermined reference values stored in data storage means of the device. The device has an allocation unit which utilizes an algorithm in order to allocate an amount of funds to transfer between an on-balance account and one or more off-balance accounts which will provide an optimal liquidity profile and capital structure for the bank.01-31-2013
20090043688Revenue participation interests with guaranteed returns and methods related thereto - A financial product and method for creating a financial product is provided wherein an investor receives a return based on the future sales or revenues of an issuer and a portion of the investor's investment is guaranteed as a return at maturity of the financial product.02-12-2009
20090043686Processing arrangements for biomass byproducts and biomass derivative products - Various arrangements are disclosed wherein biomass processing services are provided to a producer of an agricultural product. One such arrangement may include the producer paying a fee or offering biomass related products to a buyer in exchange for receiving the biomass processing services. At least a portion of the fee for providing the biomass processing services may be paid by delivery of a quantity and/or quality of agricultural products, biomass byproducts, or biomass derivative products. In certain embodiments, arrangements between the producer and the buyer may also involve establishing vendor credit accounts or providing other financing programs to the producer.02-12-2009
20100005020FUNDING OF PROJECTS - Among other things, an online exchange facility is provided that runs software applications and exposes an online interface to users. The online interface enables a project entity to fund a project by online selling of securities that represent interests in the project to investors. The online interface also enables investors to trade the securities online at prices that are determined by market forces and are related to progress of the project in reaching a deliverable that has been defined for the project prior to the funding.01-07-2010
20090024513Methods For Intellectual Property Transactions - A method for transacting intellectual property includes the steps of licensing an IP right corresponding to an IP asset to a licensee according to an agreement; receiving a payment from the licensee for the IP right according to terms of the agreement; and if a call or put option provision in the agreement is exercised, then receiving payment of the strike price and transferring ownership of the IP asset to the licensee. The call option provision provides the licensee the right to purchase the IP asset at a predetermined strike price within a specified time period. The put option provision provides the IP owner a right to sell the IP asset at a predetermined strike price.01-22-2009
20130091047SYSTEM AND METHOD FOR GROUP PURCHASING - A method for conducting an online group auction of homogeneous shares in an undivided lot uses a server computer accessible via a data network. An associated database contains details of an undivided lot, such as a real estate property, available for auction, and information representing a share offering. The offering comprises a number of homogeneous shares in the undivided lot, each share having an associate individual share price. Participating bidders submit bids via the data network, each bid including information identifying a maximum number of shares, and a maximum price per share. The server determines a degree of success of the bid based on an extent to which the maximum price per share exceeds a current individual share price of one or more of the homogeneous shares. The server then updates the information representing the share offering in accordance with the determined degree of success of the bid.04-11-2013
20090307127Electronic Spread Trading Tool - A versatile and efficient electronic spread trading tool to be used when buying and selling comparable commodities either simultaneously or in conjunction with one another. The spread trading tool involves a method of displaying, on an electronic display device, the market depth of a plurality of commodities including an anchor commodity and a non-anchor commodity, where the method includes dynamically displaying a plurality of bids and asks in the market for the commodities, statically displaying prices corresponding to those plurality of bids and asks, where the bids and asks are displayed in alignment with the prices corresponding thereto, displaying an anchor visual indicator corresponding to and in alignment with a desired price level of the anchor commodity, displaying a price level indicator corresponding to and in alignment with a price level of the non-anchor commodity. Based on an unhedged position, and taking into account the parameters and spread price point values, as determined by the trader, price level indicators are calculated and displayed, which provide a visual representation of where the trader should buy and sell the applicable commodities. The price level for the price level indicator in the non-anchor commodity is determined based upon said desired price level of the anchor commodity. The price level indicator also includes a first visual indicator corresponding to and in alignment with a first price level of the non-anchor commodity and a second visual indicator corresponding to and in alignment with a second price level of the non-anchor commodity.12-10-2009
20090307126Multi-Currency Marketplace - A computerized method and system buying and selling in a marketplace denominated in multiple currencies. A best bid or best offer can be determined according to pecuniary advantage based upon a selected currency. An amount required to become a best bid or best offer within a set of defined currencies is also included. Some embodiments include a network of computers permitting access to a multi-currency marketplace. Prices in the multi-currency marketplace can be ranked according to a particular currency selected by a market participant.12-10-2009
20090307125METHODS AND INVESTMENT INSTRUMENTS FOR PERFORMING TAX-DEFERRED REAL ESTATE EXCHANGES - Methods and investment instruments for investing in real estate are described wherein a portfolio of investment real estate is divided into a plurality of tenant-in-common deeds of predetermined denominations, and which are subject to a master agreement and master lease to form “deedshares.” Holders of the deedshares receive a guaranteed income stream from the master lease and yearly depreciation, without having to maintain or manage the real estate. The holders of deedshares are subject, under the master agreement, to a mechanism that enables the master tenant to purchase, or arrange for the purchase of the deedshares at fair market value (or some other calculable value) at the end of a specified term. Because the deedshares qualify as interests in investment real estate, they are eligible for tax-deferred treatment under § 1031 of the Internal Revenue Code.12-10-2009
20090307123DEVICE, SYSTEM, AND METHOD OF GENERATING A CUSTOMIZED TRADE ARTICLE - Some embodiments include devices, systems and/or methods of generating a customized trade article. In one embodiment, a trade-article generator application is to receive trade information including a plurality of values of one or more trade-related parameters defining at least one trade with respect to at least one financial instrument, and to automatically generate a customized electronic trade article corresponding to the trade based on a predefined trade-article layout. Other embodiments are described and claimed.12-10-2009
20090307121TRADING SYSTEM PRODUCTS AND PROCESSES - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.12-10-2009
20120221454SYSTEMS AND METHODS FOR GENERATING MARKETPLACE BROKERAGE EXCHANGE OF EXCESS SUBSCRIBED RESOURCES USING DYNAMIC SUBSCRIPTION PERIODS - Embodiments relate to systems and methods for generating a marketplace brokerage exchange of excess subscribed resources using dynamic subscription periods. A set of aggregate usage history data can record consumption of processor, software, or other resources subscribed to by a set of users, in one cloud or across multiple clouds. An entitlement engine can analyze the usage history data to identify a subscription margin for the subscribed resources, reflecting collective under-consumption of resources by the set of users on a collective basis, over different and/or dynamically updated subscription periods. In aspects, the set of estimated resource contributions of different users can be aggregated over one or more dynamic resource contribution intervals to generated a bundled brokerage resource tender, in which the processor, operating system, and/or other resources of multiple users are combined to be offered to a cloud marketplace for one or more contribution interval. The bundled resource offer can be structured to contain at least a threshold amount of resources over a minimum or other defined contribution interval, after which resources are released back to the contributing users.08-30-2012
20120191592INCENTIVE STRUCTURE FOR CENTRALIZED TRADING MARKET - An automated marketplace is separated into tiers, with behavioral requirements for each tier. Tier eligibility is a “structural incentive” for market participants to exhibit desirable behavior and eschew undesirable behavior. Tiered eligibility also reflects the natural imbalance of liquidity in the market and the need to preserve the identity of a class of liquidity providers, which further leads to a structure that can preserve the integrity of person-to-person trading relationships even in an automated environment. Within each tier, participant behavior leads to a ranking for that participant. When specific events occur, these events are allocated based on participant ranking. Participant ranking is an “activity incentive” that influences the behavior of market participants. Certain events are defined as desirable or undesirable, and when performed by a market participant, lead to positive incentives or negative incentives, of structural and/or monetary type.07-26-2012
20120191591EXCHANGE ORDER PRIORITY RETENTION FOR ELECTRONIC TRADING USING AUTOMATIC BOOK UPDATES - The present invention involves providing a computer based platform for allowing a user to establish a target trading book; evaluating the user's unmatched exchange trades to determine an actual trading book at a point in time; determining a differential between the target trading book and the actual trading book; and identifying at least one exchange trade action to transition from the actual trading book to the target trading book, wherein the exchange trade action is based on preserving at least one unmatched order with the oldest possible entry time stamp.07-26-2012
20120191590SIMPLIFIED QUOTE SHARING CALCULATION - Presented is a method for calculating and distributing quoting share revenue to exchange members that contribute quote data to market data feeds. First, the method reads in trading data chronologically for a particular day. Using an object oriented framework, the method divides the symbols and orders into groups of objects to facilitate the tracking of the total price, quantity, and seconds displayed for each symbol. The timestamp of each message is read and the seconds field is parsed ignoring fractional seconds. Credits are awarded for each second the quote is displayed at the National Best Bid/Offer (“NBBO”) by multiplying the price, quantity, and elapsed whole seconds. These quote credits are stored by the system for each member and symbol. Members are eligible to earn quote credits on either the bid or the offer or both at the same time.07-26-2012
20120191589DYNAMIC AGGRESSIVE/PASSIVE PEGGED TRADING - A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.07-26-2012
20120191588Block Placing Tool for Building a User-Defined Algorithm for Electronic Trading - Certain embodiments provide a block placing tool for building a user-defined algorithm for electronic trading. Certain embodiments provide for receiving by a block placing tool a selection of one or more blocks. Certain embodiments provide for receiving by a block placing tool a mapping definition including a mapping between block types and/or attributes. Certain embodiments provide for placing blocks based on a selection of blocks and a mapping definition.07-26-2012
20120191587Data Feed Without Quantities - The present embodiments relate to an improved data feed. In an embodiment, an electronic exchange, when generating a data feed, in particular a price data feed, purposefully chooses to include the inside market and/or last traded price but purposefully leaves out the market depth. The market depth may be omitted to provide an optimal marketplace.07-26-2012
20130073444System and method and managing commodity transactions - Methods and systems for managing the sale of commodities, such as tier-priced commodities, are described. Risk is managed by bundling with the commodity a financial instrument designed to indemnify against the risks associated with purchasing the commodity. The financial instrument may be an insurance instrument, for example. In one embodiment, bundled products are offered for sale to two or more bidders, at respective offer prices. The bidder that exceeds their respective offer price by the greatest amount is sold the bundled product. Different prices may be offered to different purchasers for respective bundled products. The offers, bids, and determination of who wins the bidding may be made by processors or computers coupled to networks, such as the Internet.03-21-2013
20130073443METHOD FOR AUTOMATED TRADING BASED ON INFORMATION IN A PRESS RELEASE - A method for automated trading based on information in a press release is disclosed. A programmed computer receives a press release from a wire service. The programmed computer scans each word of the press release sequentially. The programmed computer employs a scanned word as an index into a pre-processed table of reduced-encoded, negative sentiment and positive sentiment words, where sentiment is measured on a log-scale. The programmed computer fetches a word from the table based on the index. The programmed computer renders at least one trading decision based on the fetched word. The programmed computer delivers the at least one trading decision to at least one trading system.03-21-2013
20130073442Trading system - An automated method, computer program product and system for using artificial intelligence based cognitive learning methods to enable the identification and optional implementation of trades for an organization security. The elements of value, components of value and categories of value of the organization are analyzed and modeled using predictive models that are developed by learning from the data associated with said organization. The output from these models is then used to calculate a market sentiment value that is used to determine the types of trades that will be recommended and optionally completed.03-21-2013
20090094152Systems and Methods for Allocating Size Among Trading Accounts - A system and method for allocating trades of financial instruments among multiple accounts comprising aggregating orders, wherein each order is associated with an account, and wherein each order has an original order size; allocating an executed order based on the aggregated order in a phase I allocation, wherein the phase I allocation is allocated on a pro-rata basis based on the original order size for each account, except for those accounts that would receive an amount less than a minimum allocation; allocating a remainder from the phase I allocation in a phase II allocation, wherein the phase II allocation is allocated among selected accounts in an amount greater than or equal to the minimum allocation or an amount that fills the original order size; repeating the phase II allocation until a remainder from the phase II allocation is less than the minimum allocation; and allocating a reminder from the phase II allocation in a phase III allocation according to predetermined criteria.04-09-2009
20130166430TRADING ORDERS WITH DECAYING RESERVES - In various embodiments, an apparatus includes a processor and a memory. The memory is communicatively coupled to the processor. The memory stores software instructions that, when executed by the processor, cause the processor to receive a trading order for a particular quantity of a trading product. The trading order specifies that a first portion of the particular quantity is a displayed quantity and that a second portion of the particular quantity is a reserved quantity. The trading order specifies at least one of a decay rule, a decay interval, a decay rate, decay quantity, and one or more conditions. The software instructions, when executed by the processor, cause the processor to cause the reserved quantity to decay based at least in part on at least one of the decay rule, the decay interval, the decay rate, and the decay quantity, and one or more conditions.06-27-2013
20130060677SYSTEMS AND METHODS FOR TRADING A TRADE LIST IN FINANCIAL MARKETS - Systems and methods are provided for maintaining neutrality while trading a list of securities using an algorithmic trading facility coupled with at least one destination. This destination includes at least one alternative trading system (ATS). This facility is coupled, via an electronic data network, to a plurality of trading clients, and configured to receive a trade request to trade a list of securities from a trading client. This request includes user defined trading constraints that are used to generate and transmit trade orders to at least one ATS. The orders are transmitted based on trading data related to the destinations, the trade list, and the trading constraints. The facility can identify each executed trade corresponding to the trade orders and calculate a trade imbalance. The facility can determine whether the trade imbalance exceeds the trading constraints, and reallocate one or more of said submitted orders based on this determination.03-07-2013
20130060676VARIANTS OF NAV-BASED TRADING FOR LESS CLOSELY-LINKED COMPONENTS OF INDEX ARBITRAGE COMPLEXES - Systems and methods are provided in which a first module is configured to execute a trade of a securities futures product on an underlying financial instrument for which a valuation relative to at least one of (a) a net asset value and (b) a closing price, is calculated and published at or after a specified time. A second module determines a price for the executed trade, in which the price is specified relative to the valuation and/or the valuation with a basis adjustment. The second module may be configured to use a price which is (a) a first price which is at a specified discount, (b) a second price which is substantially equal, and/or (c) a third price which is at a premium, to the valuation or valuation with basis adjustment. A third module is configured to submit the executed trade for settlement at the determined price.03-07-2013
20130060675DEVICE AND METHOD FOR REDUCING COMPUTER LOAD AND DATA STORAGE VOLUME IN PROCESSING AND REPRESENTING A LOG OF EVENTS - A device (DT) is dedicated to the processing of files of set(s) of data of events each consisting at least of a value taken at a given instant by a quantity that varies in time and of this given instant, as well as possibly of a weighting value, each set constituting a log of events for a given quantity. This device (DT) comprises processing means (MT) responsible for determining on the basis of a log of events of a quantity i) a total sum S of weighting values of the events of this log over part at least of a main period D defined between first and second chosen instants, then ii) the value of a normalization parameter defined by the operation S*(T/D′), where T is a time interval of chosen duration and D′ represents a sum of secondary periods constituting chosen sub-parts of the main period D and is expressed in a unit identical to the time interval T, then iii) a normalized chronological collection between the first and second chosen instants of grouping of events, termed normalized bars, whose weighting value is on each occasion equal to the value of the normalization parameter.03-07-2013
20130060674Systems, method, and media for trading deconstructed stocks - System for trading deconstructed stocks are provided, the systems comprising: at least one hardware processor that: obtains a share of a stock from a public equity market; constructs an equity only share, a dividend only share, and a voting right only share corresponding to the stock: determines a first price for the equity only share; determines a second price for the dividend only share; presents the first price to a first of two traders; presents the second price to a second of two traders; matches trading interests between the two traders involving the equity only share and dividend only share; and executes a trade between the two traders involving the equity only share and dividend only share.03-07-2013
20130060673Margin Requirement Determination for Variance Derivatives - A margin requirement determination for a financial product, a market price of which varies with volatility of a market value of an underlying instrument, includes determining a realized variance of the market value for each completed trading interval based on return data for the underlying instrument, calculating, for each completed trading interval, a respective implied variance of the financial product based on option trade data for the underlying instrument, computing a respective loss risk value for a corresponding trading interval of the completed trading intervals, each respective loss risk value being derived from a first deviation between the realized variance of the corresponding trading interval and the implied variance of a preceding completed trading interval, and a second deviation between the implied variance of the corresponding trading interval and a succeeding completed trading interval, and determining the margin requirement based on a subset of the loss risk values.03-07-2013
20130060672SOCIAL BASED AUTOMATIC TRADING OF CURRENCIES, COMMODITIES, SECURITIES AND OTHER FINANCIAL INSTRUMENTS - The present invention includes methods, apparatuses, systems, platforms and associated software applications for facilitating semi-automatic or automatic trading of Financial Assets based on the past or present trading activities of other traders (e.g “Social Trading”, optionally implemented as a “Linked Account Trading System”).03-07-2013
20130060671SECURITIES TRADING SYSTEM - A securities trading program for trading individual lots of a security which can be run at a security trader's computer station. The program generates a trading screen comprising a listing of multiple bids for the security, each bid having a price, as well as a listing of multiple priced offers for the security. The bid and offer listings are active, enabling the trader to hit any one of the displayed bids or take any one of the displayed offers, for example by selecting and clicking on a displayed bid or offer. In one embodiment, the bids and offers are arranged in side-by-side columns on the trader's screen, helping the trader to rapidly overview the market for a particular security, and compare different, possibly competitive, securities by paging through level-of-interest windows for each security. The invention's easily manipulated insights into market dynamics offers a sophisticated trader new opportunities to profitably exploit market niches, for example by browsing for attractive bids or offers on closely comparable securities.03-07-2013
20120310818System and Method for Providing a Linear Spread - A system and method for providing a linear spread in an electronic trading environment are described. According to one example embodiment, a trading system can receive market information associated to a trading strategy, known as a spread. The trader may also define a market volatility parameter to utilize in the calculation of a linear spread price axis. The received market information and a divide spread algorithm are also used to determine the linear spread price axis. The trading application determines a linear spread price axis, at which price levels are separated by consistent linear tick increments. The linear spread price axis allows for more efficient and effective trading in the electronic trading environment especially when certain tradeable objects are traded or when certain spread algorithms, like the divide spread algorithm, are utilized.12-06-2012
20110066542SYSTEM AND METHOD FOR MANAGING RISK ASSOCIATED WITH PRODUCT TRANSACTIONS - A method of managing trading orders is provided. The method includes receiving a request to place a first order to trade a first product, the request being made using an account having one or more current balances. The method further includes determining a risk value for the first order based at least in part on the first product. The method further includes determining whether to approve the first order based at least in part on the risk value determined for the first order and one or more of the current balances for the account, and if the first order is approved, placing the first order.03-17-2011
20090276348Multiple protocol trading system - A multi-protocol trading system in which traders preferring different trading protocols may coexist within the same system, and access the same liquidity pool, while maintaining their trading rule preferences. The system supports two protocol preferences: a workup preference and a FIFO preference, and includes a single integrated order book that stores orders received from both workup and FIFO traders. Received orders are matched against orders in the order book in accordance with a FIFO and/or workup protocol, as a function of preferences selected by the traders and/or the system operator. Alternatively, the system includes a pair of order books, a workup order book and a FIFO order book. Customers submit linked orders having a workup leg and a FIFO leg which may be matched against the workup and/or FIFO order books, as a function of preferences selected by the traders and/or the system operator.11-05-2009
20090271312One-Price Home Mortgage Lending Method and System - A method and system for an online one-price home mortgage lending is disclosed. House buyers use the system to obtain a mortgage with autonomous interest rates. The system provides a loan to members to allow them to get their house in advance or to pay off an existing home mortgage. After receiving the loan members participate in an auction process. The bid-winner receives the funds and repays the loan in installments. Non bid-winners are issued a transferable auction certificate and wait until the next term to bid again.10-29-2009
20090271311Equitized Currency Trust for Real-Time Currency Trading - An equitized currency trust has its underlying value based solely on currency, rather than on securities and/or commodities. Shares of the equitized currency trust are priced in a currency other than the currency that forms the underlying value.10-29-2009
20090271310System and Method for Creating and Managing Intellectual Property Investment Trusts - A system and method for creating and managing a system for extracting value from intellectual property. The method includes the steps of collecting intellectual property assets in an investment vehicle, selling shares in the investment vehicle, and licensing the collected intellectual property through the investment vehicle. Shares in the investment vehicle may be traded privately or publicly.10-29-2009
20090271309MEDIA EXCHANGE SYSTEM AND METHOD - A media exchange. The media exchange uses an exchange database. The database supports interoperation between an exchange component, a media user component and a first media provider component. The media user component enables a media client to access a media component. The media component is supplied from a media provider client using the media provider component. The media user component enables the media client to enable the media component and accrue a first media value. The media user component enables the first media client to also access a second media component associated with a second media value. This is done by exchanging the first media value for the second media value.10-29-2009
20090271308COMPLEX ORDER LEG SYNCHRONIZATION - A system is provided for trading complex orders for financial instruments, including complex orders that include legs that are to be executed on different markets. The legs of the order are optionally specified to be executed in a particular ratio, at net price, and/or at a range of net prices. The system halts trading for all legs in one market, determines a quantity and price to execute a second leg of the order on the other market to achieve a specified ratio or net price and then submits the second leg for execution on the other market if the second leg remains marketable on the other market. If an execution is received from the other market, then the legs in the first market are executed and the series unfrozen. If the other market has not responded after a predetermined time, then the legs in the first market are unfrozen and trading continues.10-29-2009
20090076940Volume Control For Mass Quote Messages - Systems and methods are provided for processing mass quote messages and generating market data. A mass quote message is received and individual orders are parsed and processed. Individual market data messages are stored in a market data message buffer. After all orders are processed, the contents of the market data message buffer is distributed as a single market data message.03-19-2009
20090070252ELECTRONIC TRADING SYSTEM FOR SIMULATING THE TRADING OF CARBON DIOXIDE EQUIVALENT EMISSION REDUCTIONS AND METHODS OF USE - An electronic trading system for simulating the trading of carbon dioxide equivalent (CO03-12-2009
20120226597SYSTEM AND METHOD FOR DISPLAYING RISK DATA IN AN ELECTRONIC TRADING ENVIRONMENT - An example graphical interface and method for displaying risk related data are described. One example graphical interface includes a data structure comprising a plurality of data nodes and at least one risk data point associated with each node, and further comprises a display grid. The display grid includes one or more cells that are used for displaying selected data nodes and risk data points. Each cell may be associated with a single data node, and may include one or more identifiers corresponding to risk data points of the data node. In one example embodiment, the identifiers are aligned along a single axis, and risk related data corresponding to each identifier is aligned with respect to each corresponding identifier.09-06-2012
20120226596Electronic Trading System - An anonymous trading system comprises one or more matching engines, one or more market distributors and one or more trader terminals for input of orders from institutions trading on the system. The trader terminals are connected to the system through bank nodes. A broker terminal is connected through a bank node and enables voice brokers to trade on the system on behalf of client traders. The voice brokers terminal can be configured for any client trader and will display the market view for that trader. Trades in which the broker terminal participates are not concluded until a manual credit check has been performed.09-06-2012
20120226595METHOD AND SYSTEM FOR FINANCING AND PRODUCING ENTERTAINMENT MEDIA - A web-based financing system for financing entertainment media production companies implemented by a computer or personal digital assistant, comprising a member database for storing registration information wherein the user has access to a social network service and registers as member-producers or as member-investors to form communities; an alternative trading system in communication with said member database, enabling said member-producers and said member-investors to list, quote, buy, sell and trade in initial public offerings or secondary trading of equity shares of said entertainment media companies, and an electronic communications network in communication with said alternative trading system, that matches buy and sell orders of said entertainment media companies selling equity stocks with member-investors purchasing said stocks; and related methods of producing entertainment media and selling and investing in entertainment media companies using an alternative trading system.09-06-2012
20120226594Quotes wanted in competition - Methods and systems that facilitate the bulk execution of credit derivative transactions such as “bids wanted in competition” portfolios are disclosed. The methods include accepting from an initiating counterparty an identification of a plurality of credit default swap (CDS) contracts to be priced, providing to a plurality of dealers the identified CDS contracts to be priced, accepting bids or offers from the dealers for one or more of the identified CDS contracts, and accepting from the initiating counterparty an indication to execute one or more of the bids or offers.09-06-2012
20090265265SYSTEM AND METHOD OF AUCTIONING A DEFAULTED LOAN - A method and system for conducting an online property auction whereby the system allows for identifying an owner of property willing to sell his property by an online auction, entering into a contract with the owner obligating him to complete the sales of his property conducted pursuant to terms of the contract; pre-arranging a minimum auction price for his property that accounts for the owner's interest, plus costs and fees, conducting the on-line auction with a plurality of bidders for his property whereby at the on-line auction's conclusion there is a winning bidder and ensuring the transfer of the winning bidder's funds to the escrow holder.10-22-2009
20130166434SYSTEMS AND METHODS FOR FACILITATING ELECTRONIC SECURITIES TRANSACTIONS - Systems and methods for facilitating securities transactions are shown. In one embodiment, the method provides for receiving order information from an order management system, sending a subset of the order information to an electronic trading marketplace, receiving a quantity value from the electronic trading marketplace corresponding to a quantity of shares in a matched contra-interest, determining whether an available quantity of shares in the order information is at least the received quantity value, sending a commitment message to the electronic trading marketplace if the received quantity value is less than or equal to the available quantity of shares in the order information, and sending a deny trade message to the electronic trading marketplace if the received quantity value is greater than the available quantity of shares in the order information.06-27-2013
20090030835System and method for auctioning bids on construction projects - A computerized multi-stage bidding system and method for bidding on construction projects is disclosed. The system utilizes Internet client-server technology. The system includes input devices for entering into the computerized system and validating member credentials, accessing construction projects, registering to bid on the construction projects, providing information relative to a type of contract the construction projects will have, sorting, accepting and rejecting bids for the construction projects, posting a winning bid in order for an owner to compare it to the project budget, having the winning bid be reviewed by an owner and architect of the construction projects, via a report provided by the system and providing a forum for new contractors to become members.01-29-2009
20090030834Opening Price Process For Trading System - 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 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.01-29-2009
20090030833HYBRIDIZED REVERSE AUCTION WITH DYNAMIC FORWARD BIDDINGS FOR REALTY-RELATED TRADING - The invention relates to computer-implemented systems and methods for creating a reverse auction on a realty related item. A buyer uses a computer-system programmed with an algorithm for creating the reverse auction and one or more sellers use a computer-system programmed with an algorithm to submit bid items. The set of procedures comprises that (1) the seller's bid item can individually undergo forward bidding by other buyers to form a forward auction on the item and (2) the series of forward biddings of one or more bid items continuously updates the bid information in the reverse auction.01-29-2009
20090030830System and method of making trading markets using generalized trade reduction - An improved system and method is provided for making trading markets using generalized trade reduction. To do so, a trade reduction engine may be provided to turn the implementation of an individually rational and incentive-compatible mechanism of a market maker engine for single-valued traders making trades in a particular trading domain into an implementation of a budget balanced, individually rational and incentive-compatible mechanism that may bound the loss in social welfare. In general, the generalized trade reduction methods find procurement sets of traders and remove them in iterations until conditions of competition among remaining traders may be fulfilled for trading to occur. Advantageously, the present invention may support many applications for making trading markets using generalized trade reduction for both procurement-class domains and class domains.01-29-2009
20090030829Seller automated engine architecture and methodology for optimized pricing strategies in automated real-time iterative reverse auctions over the internet and the like for the purchase and sale of goods and services - An improved seller automated engine architecture methodology particularly (though not exclusively) for use in automated real-time iterative reverse auctions over the Internet and the like for the purchase and sale of goods and services, providing a choice of architectural implementations while enabling price optimization on market share-directed considerations, specific sales target-directed implementations, seller utility derivative-following implementations, model optimizer implementations and explorations, mathematical optimization-oriented and rules-based implementations.01-29-2009
20090030826LENDER ANONYMITY SECURITIES LENDING USING LENDER TRADE CRITERIA - Lender anonymity securities lending where trade criteria associated with a security owned by a client are determined. Bids for the security are monitored by a first entity. A trade related to the security is executed by accepting a best bid from the monitored bids based on the trade criteria. An identical trade related to the security is automatically executed with a second entity. A second identical trade as the trade related to the security is automatically executed with inter-dealer brokers without any knowledge of the first entity. The first entity may be a banking division of a financial institution and the second entity may be a broker/dealer division of a financial institution. Complete anonymity is provided to the client from the inter-dealer brokers since the trade executed automatically with the second entity is put into a separate trading book maintaining a firewall between the client and the inter-dealer brokers.01-29-2009
20130066764System and Method for Determining Implied Market Information - Implied prices and their quantities are computed. Markets are characterized by exhaustively computing one or more combinations of other related markets. Each combination when summed in a particular way results in the market under consideration. In a described embodiment, the number of market combinations found is an exhaustive list of market combinations such that the market under consideration can be fully and completely characterized, such that each combination provides implied market information about the market under consideration. Implied market information can include implied prices and their quantities, which are computed for each combination and used accordingly in displays or used by automated or semi-automated trading tools.03-14-2013
20130066763SYSTEM AND METHOD FOR TRANSFERRING A LINE OF CREDIT BALANCE TO A CASH ACCOUNT - The present invention provides an automated system configured to facilitate transfers of cash value from one or more lines of credit to one or more deposit accounts or payment systems. An automated system ensures that requested funds are available in a customer's one or more lines of credit and electronically deposits the requested funds into one or more designated deposit accounts or payment systems. An automated system provides a means for customers to manage lines of credit, setup transfer transactions, define rules governing transfers and view transactional history. The automated system, in network connection with the lending organization's backend systems, may authenticate customer identities and credit accounts as well as insure that the requested funds are available for transfer into a deposit account.03-14-2013
20130066762Method and System For Enhancing The Efficiency Of A Digitally Communicated Data Exchange - The present invention relates to a method for enhancing the efficiency of digitally communicated data exchanges and to a computer system that implements such a method. The invention particularly concerns the use of adaptive custom compression techniques, binary integers (“bits”), massively parallel processing, database optimization techniques and/or calculation optimization techniques to achieve such enhanced efficiency. The invention is applicable to any digitally communicated data exchange, but is particularly applicable to exchanges of financial information such as financial market buy/sell orders, market making, etc.03-14-2013
20130066761System and Method for Managing Trading Using Alert Messages for Outlying Trading Orders - According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding the outlying trading order. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.03-14-2013
20130066760SYSTEM AND METHOD FOR MANAGING EXECUTABLE FUNCTIONS WITHIN A TRADING SYSTEM - A trading system includes: a first set of two or more functions and a second set of two or more functions, wherein each of the functions in the first set and the second set includes a variable that is of a common variable type, wherein the value of the variable that is of the common variable type in the first set of functions and the value of the variable that is of the common variable type in the second set of functions may be different at a given point in time; and a function editing mechanism through which the value of the variable that is of the common variable type in the first set of functions may be edited for each of the functions in the first set of functions without affecting the value of the variable that is of the common variable type in the second set of functions.03-14-2013
20130066759SYSTEM AND METHOD FOR MANAGING EXECUTABLE FUNCTIONS WITHIN A TRADING SYSTEM - A trading system includes: a first set of two or more functions and a second set of two or more functions, wherein each of the functions in the first set and the second set includes a variable that is of a common variable type, wherein the value of the variable that is of the common variable type in the first set of functions and the value of the variable that is of the common variable type in the second set of functions may be different at a given point in time, and further wherein at least a first function from the first set of functions and at least a second function from the second set of functions may be executed sequentially.03-14-2013
20130066758TRADING WITH CONDITIONAL OFFERS FOR SEMI-ANONYMOUS PARTICIPANTS - According to one embodiment of the present invention, a method for generating conditional offers for semi-anonymous trading participants is provided. According to one embodiment of the present invention, a method comprises associating a trading entity with an identifier; acquiring trade history information including a history of trading transactions associated with said identifier; and receiving an offer from a Liquidity Provider based on said trade history information, said offer being only made to the trading entity associated with one of said identifiers.03-14-2013
20110022508TRADING ORDERS WITH DECAYING RESERVES - In various embodiments, an apparatus includes a processor and a memory. The memory is communicatively coupled to the processor. The memory stores software instructions that, when executed by the processor, cause the processor to receive a trading order for a particular quantity of a trading product. The trading order specifies that a first portion of the particular quantity is a displayed quantity and that a second portion of the particular quantity is a reserved quantity. The trading order specifies at least one of a decay rule, a decay interval, a decay rate, decay quantity, and one or more conditions. The software instructions, when executed by the processor, cause the processor to cause the reserved quantity to decay based at least in part on at least one of the decay rule, the decay interval, the decay rate, and the decay quantity, and one or more conditions.01-27-2011
20120116948GRAPHIC PROCESSING APPARATUS FOR STOCK/FUTURES TRADING CONDITIONS - The invention relates to a graphic processing apparatus for stock/futures trading conditions is configured by systematically linking and deploying: a computing module capable of deriving various pieces of stock/futures trading information reflecting stock/futures trading conditions by stock/futures trading times and prices, within a communication pipeline at an exchange system; a computing module capable of producing a screen with stock/futures trading times and prices on a horizontal axis and on a vertical axis, and arranging CRIs (Cells for Recording Stock/Futures Trading Information) corresponding to stock/futures trading times and prices in a matrix configuration on the screen; and a computing module capable of generating an ST (Stock/Futures Trading Information Relation Graph Tag) conforming to stock/futures trading information by stock/futures trading times and prices, inputting the generated ST into the CRIs, and inducing the display of stock/futures trading information by stock/futures trading times and prices.05-10-2012
20120116947Flexible System and Method for Electronic Trading - System, method, and program products offer flexibility to the rather rigid way of trading in an electronic trading system. Orders for a tradeable object may typically get matched according to set terms and/or conditions at an electronic exchange. A trader may log onto the electronic exchange to trade the tradeable object, and may choose to display and trade the tradeable object according to a different set of terms and/or conditions. As such, the market data sent to the trader from the exchange is converted to a format according to the trader's selection, so that it may be presented to the trader in this format. Transaction messages sent to the exchange from the trader are converted to the format readable by the matching process, so that it can process the messages. Other features and advantages are described herein.05-10-2012
20120116946Foreign Currency Index - Systems and methods are provided for trading and calculating the composition of foreign currencies indexed financial instruments. The compositions of the financial instruments are determined by calculating a geometric average of the exchange rates of foreign currencies with corresponding competitive weights. The competitive weights for each of the foreign currencies reflects competition between the goods of the United States and a country corresponding to the foreign currency in the markets of third countries.05-10-2012
20120116945Method and System for Displaying and Trading Spreads - A trading application can receive price and quantity information for tradeable objects. The trading application can compute implied price and quantity information for spreads of the tradeable objects. Direct and indirect price and quantity information for the spreads can be displayed in a manner that shows the relationship with each other and with the price and quantity information for the tradeable objects.05-10-2012
20120116944System and Method of Electronic Exchange for Residential Mortgages - A method and exchange system for trading individual, whole loans and providing anonymous credit qualification and price negotiation in an open forum. The system includes a server computer configured to receive data representing an estimated tradable range for the at least one whole loan, wherein the estimated tradable range is calculated from the documentation data; transmit, to the at least one seller, the data representing an estimated tradable range; make available to remote bidders, through the at least one network, listing data comprising data relating to the at least one whole loan; receive, from at least one remote bidder, at least one bid for at least one whole loan; and determine, for each of the at least one whole loan, a winning bidder based on the at least one bid received from the at least one remote bidder.05-10-2012
20120116943System and Method for Processing Contracts for Conditional and Unconditional Forward Sales of Retail Goods - The invention is directed to a system and method for facilitating the completion of contracts for conditional or unconditional forward sales (CCUFSs) of retail goods via a CCUFS exchange, in combination with a distribution network for taking delivery on completed contracts. The system comprises a CCUFS exchange comprising a networked computing device and at least one database, and a retail distribution network comprising a plurality of retail distribution points. Using the CCUFS exchange, users may post offers to buy and sell on basic futures contracts, put and call options, and secondary sales, as well as more complex derivatives. Offers having similar terms may be pooled together and an inventory rebalancing module may redistribute retail goods or money to sellers that over-deliver or under-deliver.05-10-2012
20120116942COMPUTER SYSTEM AND METHOD FOR GENERATING AND EXECUTING ORDERS WITHIN A PRICE RANGE - A computer system and method generate orders to be executed in an electronic exchange, and execute the orders. An order data processor processes order data, and an order transmitter transmits an order to the electronic exchange based thereon. The order data includes at least one price limit which specifies a range of prices that is required for the order to be executed. The order is executable within the price range only. If the order is a buy order, the at least one price limit includes a minimum price to execute the buy order, and if the order is a sell order, the at least one price limit includes a maximum price to execute the sell order. The order is added to an order book for being executed at the end of a call auction. A derivatives trader may thus reduce the risk of having incorrect inventory in an underlier.05-10-2012
20090254470METHOD AND SYSTEM FOR SHARING SEARCHES - Methods and system for sharing searches are described. In one embodiment, one or more search terms of a search request may be stored. The storage of the one or more search terms may be associated with an originating user. A sharing request may be received for the search request. The sharing request may be associated with a requesting user. The search request may be associated with the requesting user.10-08-2009
20080201252Internet-based auction and networking method - An internet-based auction and network method to create a network for all services needed and service providers. It allows service providers to create their own network page about their company, with pictures of past jobs, contact information, background of their company recommendations they have for other service providers as well as comments from past customers. One key element to the site is a real time auction where anyone who needs work done is able to create an auction in their category and have service providers bid using an underbidding with an offer connected method to allow for the lowest monetary price connected to the best offer example-bid-$2500-offer-finish in four days. The host of the auction has the option to end the auction at any time before its timed finish. The site will have a full directory of all service providers to allow for direct contact between service providers and customers needing a service performed. Another feature available to the service providers is a full database of suppliers, where the service providers will place supplies up for auction using the underbidding with offer connected method to08-21-2008
20090037314Method and system for implementing automatic bid status refresh and item attribute updates in an electronic exchange - An auction method for implementing automatic bid status refresh and item attribute updates in an electronic exchange. The method includes the step of receiving update configuration information from remote bidders via a distributed computer network. The update configuration information includes a time interval for receiving bid status updates. An auction is conducted wherein bid information received from the remote bidders is compared to determine a bid status and wherein the bid status is used to determine the bid status updates for the remote bidders. The bid status includes information regarding the most competitive, or winning, bid and any associated terms. The bid status updates are disseminated to the remote bidders via the distributed computer network in accordance with the update configuration information. At the conclusion of the auction, an auction winner is designated in accordance with the latest most competitive bid of the bid status. The time interval of the update configuration information is user selected and can be adjusted dynamically during the auction. Remote bidders receive bid status updates in accordance with their specified time interval. Changes to the items and/or item attributes of the auction are also disseminated to the remote bidders via the distributed computer network in accordance with the time interval of the update configuration information.02-05-2009
20090234767Cost-based financial product - In accordance with the principles of the present invention, a cost-based financial product is provided. The cost-based financial product is created at a front end that differentiates at the access level, thereby providing two distinct products—one evolving from direct arbitrage; the other an indigenous copy—that are essentially the same that can flow separately into different service entities. A fixed yield or amount of supply of a first component is divided into a variable yield of a second component that represents the cost basis relationship sought, thereby creating a partial supply devisor quotient scale—a new scale of cost unit change that becomes the new price array on the front end. A front-end application ladder can be created by substituting a price per divisor supply (whether shares of stock, bushels of grain, etc.) quotient scale for the matrix price array of the cost component to accept the expanding or contracting value of the gross changes of the cost product value. Each trade price increment allowing buying or selling of those differentials as they occur in the mimicked cost product ladder or the indigenous one. The cost-based financial product of the present invention enables an indigenous marketplace where traders can make a directly offsetting trade at any of the trade prices, thereby bypassing the arbitrage base by choosing to use the indigenous one.09-17-2009
20090055303OUT OF BAND CREDIT CONTROL - Systems and methods are provided that can provide credit control monitoring across any number of trading engines without adding any performance or scalability limitations.02-26-2009
20120271754SYSTEM AND METHOD FOR ESTIMATING A SPREAD VALUE - An estimated spread value is computed that represents a price at which a trader might have been able to buy or sell a spread given the current market conditions of the legs. In particular, when an event occurs in one of the legs, price information is gathered from each of the other legs based on the spread definition, in addition to the defined event, and is used in estimating the value of a spread. According to one feature, the computations may be triggered by any predefined event. According to another feature, the computation may be programmed by a user to tailor the estimation process according to the type of spread being traded. The estimated spread value may be used to analyze spreads, it may be fed to other trading related software tools, or it may be used in charting.10-25-2012
20120271747Methods, Apparatus, and Systems for a Global Equity Exchange - Systems, software, financial exchanges, and methods for a new global finical exchange are described. In one aspect, the present invention provides an exchange that lists sector, country, regional, and world electronically traded electronic representations of instruments on a set of representative global equity indices based on a single source, on an electronic exchange, open nearly 24-hours every business day, in one base currency, with periodic (annual) normalized index prices, utilizing a unique share-sized derivatives instrument as described in U.S. patent application Ser. No. 13/074,687, having cross margining, yearly expirations, associated options, and realized volatility instruments. All of these features combined into one comprehensive package will attract market participants because of a better-designed product, utilizing capital in the most efficient way possible, with features not found, or not commonly found, on any exchange, and with many cost-saving elements. The present invention could be the first credible threat to the dominance of the handful of mega exchanges in the U.S. and Europe.10-25-2012
20120271746AUTOMATE METHOD AND SYSTEM FOR CREATING TRADEABLE HEDGE FUND INDICIES - An automated method and system for creating tradable hedge fund indices. One or more sets of hedge fund trading information is obtained on a application on a target device. The application creates one or more sets of tradable indices representing hedge fund performance from the received one or more sets of hedge fund trading information. The application displays the created one or more sets of tradable hedge fund indices in one more windows on a multi-windowed graphical user interface (GUI) The one or more sets of tradable hedge fund indices include, but are not limited to, equal weighted, asset weighted and/or aggregated hybrid tradable indices.10-25-2012
20130166429SYSTEMS AND METHODS FOR PROVIDING A TRADING INTERFACE - Systems and methods for configurable trading interfaces that allow a trader to quickly and easily submit trading commands to a trading system are provided. Using these systems and methods, a trader can using various trading interfaces to initiate trading commands, configure various display features and default command settings, and control a level of command entry verification that is provided to protect against inadvertent entry of incorrect trading commands.06-27-2013
20090018943web based technology system and method for the marketing of online quotations and offers to consumers and businesses looking to acquire products or services, where a consumer or business is able to register his requirements once and publish them anonymously to any product or service provider, regardless of whether they have a website, who may wish to provide a quotation for providing that product or service. - The quotes2me service uses the concept of “e-wallets” to flip the existing processes that a consumer or business goes through to acquire a product or service, instead of using several channels such as physical stores, call centres, directories, search engines or price comparison sites to source and negotiate the best deal for a product or service the consumer can register his “requirements” into a web based form which is then anonymously published into a Quote Opportunities database. Product or service providers are able to select Quote Opportunities and register their best quotation or offer against them. Consumers compare the offers received and are connected to the Quote Provider that they wish to purchase from.01-15-2009
20090012892Financial product futures and system and method for trading such futures - A method, system and financial product permitting trading of futures of OTC derivatives is provided.01-08-2009
20130124379SYSTEMS AND METHODS FOR CREATING AND TRADING DYNAMIC SECURITIES - Systems and methods for creating and trading dynamic securities are provided. Dynamic securities according to the invention may preferably include any security or non-securitized investment. To form the dynamic security, a user may select a plurality of securities including stocks, bonds, baseball cards and modern art paintings to create a dynamic security. The selection may be limited to a pre-determined list of securities.05-16-2013
20130166426Method to Convert Limited Liability Company (LLC) into C Corporation and Therein Subsequently Take It Public - For the purposes of taking any LLC public, the present invention provides for the novel sequential methodology of converting an LLC into any C corporation and then taking this entity that used to be an LLC public. The present invention also provides for the utilization of any electronic means of communication to implement this conversion, such as the computer-implemented sequential methodology of contracting for and converting the LLC into the C corporation with the subsequent issuance of stock for purposes of taking it public.06-27-2013
20130166427Method and Apparatus for Publishing Market Information - A method and apparatus for publishing market data for a financial instrument utilizes existing network layer acknowledgement feature to publish market data for the financial instrument to a client device at rates in which the client device is able to process the data. The publishing rate is dynamic, as opposed to being fixed, and is able to adjust “on-the-fly” so as to prevent message queue stagnation.06-27-2013
20130166428APPARATUS AND METHOD FOR PERFORMING TIME SYNCHRONIZATION BASED AUTOMATED POWER TRADING FOR REAL TIME PRICING SYSTEM - Provided is an apparatus and method for performing time synchronization based automated power trading for a real time pricing system. The power trading apparatus may include a time synchronizing unit to synchronize at least one of a power market server, a smart meter, and a time information to provide the power market server with time, a power purchasing and selling price monitoring unit to receive power purchasing and selling price information from the power market server to monitor power purchasing and selling prices that change in real time and to compare the power purchasing and selling prices to predetermined reference prices for power trading, and an inverter and power storage apparatus controller to controlling power conversion of an inverter, and charging and discharging of a power storage apparatus to purchase and sell power at the reference prices.06-27-2013
20130166435System and Method for Changing the View of a Trading Screen - A trading screen displays market information, such as working orders, buy and sell orders, and other items of interest, in association with values on a value axis. Each item of interest is therefore displayed in relation to the value axis to provide a trader with an intuitive display of the market. In one embodiment, a user can select a location associated with a particular value on the trading screen and upon an selection, for example, by a click of the mouse button, the value axis is repositioned so that the selected value is moved to a predefined location. During which, market information is moved to new locations that are associated with their respective values on the value axis.06-27-2013
20080306858SYSTEM AND METHOD FOR ENABLING HEDGING CUSTOMERS TO LOCK FORWARD POSITIONS WITH CUSTOMER-FRIENDLY PAYMENT OPTIONS - In some embodiments, a method includes providing a loan or line of credit (LOC) to a purchaser to financing the cost of purchasing a retail commodity price protection contract. A new financial instrument is created bundling the loan or LOC and the retail commodity price protection contract. The method also includes allowing the purchaser to draw on a trust (that may have been created with proceeds from the loan) to purchase the retail commodity. The retail commodity price protection contract may specify a forward position, which may be selected by the customer, associated with the retail commodity. According to the forward position specified in the retail commodity price protection contract, a price protection service provider provides price protection to the customer against variability in the price of the retail commodity. The loan or LOC may be provided by a financial institution or the price protection service provider.12-11-2008
20080306857Method for displaying transmission time intervals of orders on electronic trading system - A method is provided for displaying transmission time intervals to a trader using an electronic trading system comprising the steps of displaying a trading screen for an electronic trading system, said trading screen including a transmission time interval display, and displaying a transmission time interval on the transmission time interval display. The transmission time interval comprises an order transmission time interval and a confirmation transmission time interval. The order transmission time interval includes an order transmission to proceed from a client computer to the electronic commodity exchange. The confirmation transmission time interval includes time for a confirmation transmission to proceed from the electronic commodity exchange to the client computer. The method may further comprise the steps of transmitting an order transmission from a client computer to an electronic trading exchange, receiving a confirmation transmission from the electronic commodity exchange by the client computer, and determining the transmission time interval.12-11-2008
20080306856Aged Transactions in a Trading System - A method and system for aging orders, increasing securities market liquidity.12-11-2008
20080306854Event Timing Mechanisms for Dutch Auction of Securities - A method for auctioning securities defines an auction start time and an auction end time. The time therebetween is defined by time bucket intervals and transparency intervals. At the auction start time, a real-time auction of securities over a communications network begins. During each time bucket interval bids are received from prospective purchasers, and assigned a time bucket stamp such that bids with the same time stamp are treated as having occurred at the same time. At the end of each transparency interval public bid information related to the auction is updated and made available to the prospective purchasers. After the auction end time, a final auction price for the securities is established based upon the bids made during the auction, and the securities are allocated to the prospective purchasers at the final auction price.12-11-2008
20080301027METHOD, SYSTEM, AND PROGRAM PRODUCT FOR SELECTING A BROKERING METHOD FOR OBTAINING DESIRED SERVICE LEVEL CHARACTERISTICS - Under the present invention, a set (e.g., one or more) of requests (e.g., from a single bidder or multiple bidders) for an elemental bidding resource (EBR) is received. Market conditions for the EBR are evaluated from historical data. It is then determined whether a demand for the desired EBR exceeds a supply of the EBR. Based on the market conditions, the supply, and the demand, a brokering strategy (e.g., auction versus non-auction) and associated method are selected to allocate the EBR. A resource unit broker (RUB) will then determine an outcome of the brokering method to fulfill at least one of the set of requests. The outcome and associated metrics can then be logged, it can be determined whether a sales contract was created, the EBR can be allocated, and reports/data can be updated accordingly.12-04-2008
20120239544SOLUTIONS SERVER - Methods and systems for providing solutions for trading securities are disclosed, including receiving a level-two quote, the level-two quote including a symbol and at least one market participant quote, the market participant quote including a quote price, a quote quantity, a quote MPID, and a quote side. The methods and systems further include creating a solution set including at least one solution record corresponding to each market participant quote in the level-two quote, the solution record including a solution symbol, a solution side, a solution MPID, a solution price, a solution quantity, and a solution latency, the solution latency including a latency for the market identified by the solution MPID.09-20-2012
20080262957SYSTEMS AND METHODS FOR FACILITATING ELECTRONIC SECURITIES TRANSACTIONS - A method for facilitating securities transactions is shown. In one embodiment, the method includes identifying, by a computer system from an OMS comprising a plurality of stored security orders, a subset of orders specifying at least a minimum available quantity; transmitting, by the computer system to an ETM, a non-binding indication corresponding to one order of the subset of orders, the non-binding indication comprising a security identifier and the order type; receiving, by the computer system, an indication that a match exists to the non-binding indication; determining, by the computer system, a total available quantity for the order corresponding to the non-binding indication; and transmitting, by the OMS, a binding order corresponding to the non-binding indication, the binding order comprising the determined total available quantity. Corresponding systems are also described.10-23-2008
20080294544PROCESS AND APPARATUS FOR CONDUCTING AUCTIONS OVER ELECTRONIC NETWORKS - An apparatus and process for conducting auctions, specifically municipal bond auctions, over electronic networks, particularly the Internet, is disclosed. The auctioneer maintains a web site from which information about bonds to be auctioned can be obtained. A user participates in the auction by accessing the web site via a conventional Internet browser and is led through a sequence of screens that perform the functions of verifying the user's identity, assisting the user in preparing a bid, verifying that the bid conforms to the rules of the auction, displaying to the user during the course of the auction selected bid information regarding bids received and informing the bidder how much time remains in the auction. The user may be given the option of confirming the accuracy of his bid before submitting the bid. The auctioneer is able to review bidding history, determine the winner and notify the winner over the network, and display selected auction results to bidders and observers over the network.11-27-2008
20080294543Software product and system for facilitating real estate transactions - A software product and system that facilitates real estate transactions. More specifically the software product and system allow users to bid on a variety of terms and conditions to a real estate agreement. The software product and system also allows a user to make a bid via a remote computing device.11-27-2008
20080294542System and Method For Web-Based Customizable OTC Options Trading - A method for processing electronic requests for price quotes is provided. In the method, a request for a price quote is received, wherein the request comprises one or more characteristics of an over the counter option inputted into an interactive electronic display. A price quote is determined for the option based on the request and is displayed on the interactive electronic display. The ability to execute an electronic sale of the option having the one or more characteristics at the quoted price is provided at the interactive electronic display. A termsheet is automatically populated upon the execution of the sale and is accessible by the parties to the sale.11-27-2008
20090292633SYSTEMS AND METHODS FOR VIEWING AND TRADING FUTURES - A method and system for viewing and trading futures and other tradeable objects. The invention includes improved user interfaces for use with trading systems that allows users to more efficiently execute and manage trades. A dynamic price ladder allows a trader to see price gaps while remaining in a dynamic mode. The “sticky cells” feature prevents user errors which can occur when the display updates causing the cell under the mouse pointer to move up or down. Particular portions of the display can be color coded to provide a user with a easy way to determine market trends. A static working order screen allows a trader to visually see working orders from closest to furthest away from the market and can also allow for orders to be cancelled.11-26-2009
20120197778CONTROLLING AN ORDER SLICER FOR TRADING A FINANCIAL INSTRUMENT - In one aspect, the present invention provides an order slicer that receives an order that to trade a financial instrument. The order associates a trading strategy with said order. The trading strategy is replaceable. In another aspect, an interface accepts a trading strategy of an order to trade a financial instrument. A transmitter transmits the trading strategy to an order slicer.08-02-2012
20120101932AUTOMATION OF ENERGY TRADING - A computer program for automating energy trading between regional transmission organizations (RTOs) is disclosed. The computer program includes computer readable program code means for creating a template for an energy trade between two RTOs, wherein the template comprises a plurality of trade components, the plurality of trade components being arranged in sequential order according to an RTO's required order of execution; computer readable program code means for selecting a template for an energy trade between two RTOs; computer readable program code means for displaying a summary of a trade; and computer readable program code means for monitoring and displaying a trade's status.04-26-2012
20100076887AUTOMATED BATCH AUCTIONS IN CONJUNCTION WITH CONTINUOUS FINANCIAL MARKETS - A method and system for performing a batch auction whereby a series of orders, according to a variety of predetermined order types, are generated by qualified market participants and communicated to an auction system. The auction system takes into account each order and its impact upon relative supply and demand to determine by a preset algorithm a price and share transaction quantity. Trades are executed at the price, and a portion of the transaction quantity is allocated to each investor on a fair basis dependent upon their initial orders. In embodiments of the present invention, the auction system uses a computer system or network designed to automatically perform one or more steps of the above method. Such a system is preferably connected to one or more ECNs such that non-executed shares can be automatically sent to outside sources for execution. In alternative embodiments, the invention includes the use of a one or more intermediaries or market makers to cover certain unexecuted trades at the determined price. The present invention is preferably used to conduct batch auctions at the opening and closing of securities trading markets.03-25-2010
20130013483SYSTEMS AND METHODS FOR MULTI-CURRENCY TRADING - A multi-currency interface: presents, to at least one customer wishing to trade in a customer currency, a view of orders currently residing on the trading exchange in the customer currency; receives an order, from the at least one customer, denominated in the customer currency; and, if the customer currency is not the same as the exchange quoted currency, calculates a conversion rate from the customer currency to the exchange traded currency, based upon FX index prices, and generates an exchange order, denominated in the exchange quoted currency, corresponding the to the received order from the customer.01-10-2013
20110093374Systems and Methods of an Interface for use in Electronic Trading - Various systems and methods for presenting and interacting with electronic trading related information on a display screen of a computer system are provided. According to one or more embodiments, buttons are positioned and compressed along an axis, where each button corresponds to a function. A button can be selected through an action of a user input device. A button is removed from the region when a function corresponding to the button is no longer current and when the cursor is not positioned within the region. The remaining buttons, if any, in the region are compressed subsequent to removing the button from the region. A button is not removed from the region when the cursor is positioned within the region.04-21-2011
20120215676PRODUCTS AND PROCESSES FOR ORDER DISTRIBUTION - Systems and methods for trading financial instruments through multiple trading intermediaries are described.08-23-2012
20130018775System and Method for Preventing Cross Trading - Information regarding the current state in the market is used to prevent orders from crossing. In an example provided herein, when an order is entered into a market, information regarding current positions in the market is taken into account to determine whether the order will cross with other orders. If the orders would cross, appropriate action is taken to prevent the crossing of orders in a way suitable for the person or persons trading. The teachings described herein may be used for any reason to prevent orders from crossing. Moreover, they may be used in other areas of trading to assist the trader in obeying any other rule or regulation that might involve analyzing current positions in the market before taking action.01-17-2013
20130018774SYSTEMS AND METHODS FOR PROVIDING ENHANCED VOLUME-WEIGHTED AVERAGE PRICE TRADING - Systems and methods for providing trading using an eVWAP price in an illiquid market are provided. In an illiquid market there may be little or no actual trades. During a trading period, the eVWAP price is therefore determined from not only trades, but also unmatched bids and offers. The eVWAP price is determined when new information becomes available or at a specified time interval. The final eVWAP price is determined when the sampling period ends. Once the final eVWAP price is determined, the value of the final eVWAP price is published for use as a price to settle a contract.01-17-2013
20090144186Financial Product Design and Implementation - A front-to-back application suite may integrate new financial products on the fly, without a long development phase. A financial product type, such as a derivative product or structured product, may be created and integrated into a financial management suite for pricing, risk management analysis, deal capture, and trading activities. Information describing a financial product type, including one or more financial instruments and parameters, is received via a user interface and a meta language data script is generated to define the financial product type. A corresponding software object may be generated from the markup language data script and then invoked, for example, by interpreting code of the software object via a virtual machine. The new financial product type may be integrated into the financial management suite, so that specific deals may be created based on the financial product type and then trading activities involving the new deal may be performed within the financial management suite.06-04-2009
20110282775System and Method for Improved Order Entry Using Market Depth - Market depth information pertaining to the hedging side is utilized to intelligently break a non-hedging order into multiple orders, such that the orders rest at cascading price levels. This way, the trader can benefit from sweeps in the book and still properly account for the market depth on the hedging side. Further, there is a greater probability of receiving “partials” on the spread order. In addition, hedge orders may be sent at multiple price levels, or sent to the market in pieces over time. By applying a more intelligent process to hedge orders (as opposed to “fire and forget”) an alternative beyond limit orders that can be leged or market orders is provided.11-17-2011
20080235125DYNAMIC PROPERTY BUYING AND SELLING SYSTEM - A Dynamic property buying and selling system is described. The system is comprised of networked hardware, software, processes and methods that enable an auction like system to inform buyers, sellers and interested third parties of current market information and dynamics. The described system may be used in real estate and other markets to complete early stages of a negotiation process as well as enable buyers and sellers to test for market information. Third party observers may use the system to investigate and report on market information and test economic theories regarding the market of interest. An integrated expert system is useful to buyers, sellers and third party observers in providing answers to queries regarding correlation of auction parameters and optimization of parameters for particular desired outcomes. Controls are integrated into the system to help ensure reliability and accuracy of the results and information by blocking observed detrimental activity.09-25-2008
20130024356System And Method For Communicating With An Electronic Exchange In An Electronic Trading Environment - System and methods for a connection proxy server are described. According to an example method described herein, a connection proxy server stores subscription, product tables as well as other downloads that are provided to a client terminal during initialization stage as well as later during a trading session. Upon detecting that a connection between the client terminal and a gateway is lost, the connection proxy maintains a communication session created for the client terminal at the gateway and receives data intended for the client terminal. If the connection is re-established between the client terminal and the gateway during a predetermined period of time, the connection proxy provides the stored data to the client terminal thus avoiding a surge in processing resources at the gateway due to the necessary downloads.01-24-2013
20130024355System and Method for Displaying Risk Data in an Electronic Trading Environment - An example graphical interface and method for displaying risk related data are described. One example graphical interface includes a data structure comprising a plurality of data nodes and at least one risk data point associated with each node, and further comprises a display grid. The display grid includes one or more cells that are used for displaying selected data nodes and risk data points. Each cell may be associated with a single data node, and may include one or more identifiers corresponding to risk data points of the data node. In one example embodiment, the identifiers are aligned along a single axis, and risk related data corresponding to each identifier is aligned with respect to each corresponding identifier.01-24-2013
20130024353INTERVAL PRICE LIMIT - Systems and methods of limiting price movement of a financial instrument include establishing, via an exchange server comprising at least one matching engine module, an interval price limit (IPL) period that defines a predetermined length of time commencing at a start time, and an IPL amount that defines a permissible increase or decrease in an anchor price of a financial instrument during the IPL period. Buy and sell orders received for the financial instrument during the IPL period are matched to generate at least one matched trade having a trade price. The trade price is compared to the anchor price, and if the trade price is within the IPL amount of the anchor price, the matching engine module executes the at least one matched trade. Otherwise, if it is not, the matching engine module is prevented from executing the matched trade.01-24-2013
20130024352Trading System - A Computer apparatus configured to process transactions in fungible assets on behalf of account holders on a client controlled, order by order basis, via account controlled and configured private books of business and public books, as well as proactively route public orders to external venues based on analysis of account-specific best execution configurations including venue cost assignments and account-specific venue routing parameters.01-24-2013
20130024350METHOD AND SYSTEM FOR REBROKERING ORDERS IN A TRADING SYSTEM - Systems and methods are described herein for supporting the trading of bonds in a computerized system using broker dealers as intermediaries. Broker dealers receive orders relating to particular transactions and have the option to accept the order by submitting a matching counter order, or to rebroker the order with the same or modified terms to a number of other investors or additional broker dealers. The additional broker dealers have similar options, thus providing a system wherein orders can be quickly proliferated to a large number of parties. This order proliferation can be fully or partially automated through the use of predefined rules stored in a database which dictate for each broker dealer whether, to whom and under what terms to rebroker orders. When an order is received, the system processes all such rules to output a set of orders which are then communicated to the corresponding parties.01-24-2013
20130024349METHOD FOR TRADING STOCKS - The present invention provides a trading system with very high percent success rate in market by means of minimizing the risk. This invention provides an easy and simple-to-use system for swing trading. This system is automated and based on an algorithm which uses the end of the day data for particular financial instrument to generate buy/sell signals for selected stocks. These signals provide the precise entry and exit points in the markets for those particular stocks. The signals come with a small stop loss to ensure safety of the investment. The system provides three exit levels to ensure that the investment risk is minimized and profit is reaped.01-24-2013
20130024346Modification of Multi-Laterally Traded Contracts Based on Currency Unavailability Condition - A type of multi-laterally traded contract may designate a primary currency and a secondary currency. The primary currency may be used for settlement and/or other payment obligations in connection with instances of the contract type. Under certain conditions, however, authorization may be given for settlement and/or payment of at least some obligations using an equivalent amount of the secondary currency.01-24-2013
20100250424Method and System combining a Social Network Service with an Alternative Trading System and Electronic Communication Network to produce entertainment media - A Method and System combining a Social Network Service with an Alternative Trading System and Electronic Communications Network to produce entertainment media. The application can be used in a myriad of ways, from a social point of view and a financial one, to assist in the creation of the independent producer's art.09-30-2010
20080319892Systems and methods for allocating size among trading accounts - A system and method for allocating trades of financial instruments among multiple accounts comprising aggregating orders, wherein each order is associated with an account, and wherein each order has an original order size; allocating an executed order based on the aggregated order in a phase I allocation, wherein the phase I allocation is allocated on a pro-rata basis based on the original order size for each account, except for those accounts that would receive an amount less than a minimum allocation; allocating a remainder from the phase I allocation in a phase II allocation, wherein the phase II allocation is allocated among selected accounts in an amount greater than or equal to the minimum allocation or an amount that fills the original order size; repeating the phase II allocation until a remainder from the phase II allocation is less than the minimum allocation; and allocating a reminder from the phase II allocation in a phase III allocation according to predetermined criteria.12-25-2008
20130024357Distribution Of Electronic Market Data - A system and method are provided that, among other things, can reduce the burden on receiving computers, increase data throughput, reduce system failure, and provide components of a scalable and flexible network architecture. Specifically, the system and method provide a multichannel-multicast network environment for use in dynamically assigning data to channels. This configuration is particularly useful in a trading network environment, as it effectively performs channel reassignments in a way not to disturb the receipt of the underlying data. While the example embodiments described herein pertain to electronic trading, the principles of the present invention may be equally applied in other environments where the advantages presented herein are beneficial.01-24-2013
20130024354System And Method For Facilitating Unified Trading And Control For A Sponsoring Organization's Money Management Process - An embodiment of the present invention provides a system, method, process, software and standards that enable a unified trading and control process utilized by sponsoring organizations and asset managers (money managers) for sub advised or externally managed investment portfolios as to increase control over the trading process by a sponsoring organization, enhance regulatory compliance, substantially lower trading costs and improve investment performance on a recurring basis for the shareholders and beneficiaries investing in registered and non registered mutual funds and institutional investment portfolios.01-24-2013
20130024348PARTICIPATION SYSTEMS AND METHODS - A computer-implemented method and system is used for formation on an electronic exchange of a wide range of contractual relationships between a holder of rights or other assets and acquirers of rights and liabilities associated with such assets based on segregated asset participation units. Such parties to the contractual relationships can equally be individuals or business entities in any combination. Furthermore, in some circumstances, the terms of the contractual relation are defined by a sponsor who defines the terms and in some instances provides or arranges for services that are referenced in the contractual terms.01-24-2013
20110282774Beehive Planet Method: Collective Property Buying and Mass Securitization of Real Estate through a Real Estate Buyer's Club Brokerage service and a Real Estate Securities Exchange - Beehive Planet Method is a computerized method spanning Real Estate and Finance fields. It creates an investment avenue for the registered investor base of a real estate brokerage through mass securitization of investment real estate into single property, no to low leverage, tradable securities created through the brokerage's services leading to a new demand based trading environment where collective purchasing creates real estate securities in primary market that trade on an inseparably linked Securities Exchange in secondary market. It uses Property Management standardization with operation and leverage classifications and exchange determined valuations and limits to convert single properties into tradable financial instruments. Complete computerization with automated property selection and collective purchasing conduct data transformation of investment criteria within buyer groups into trade transactions on an electronic exchange. Finally, it fills a void by opening up large scale investment in properties with complete investor control over choice of invested property.11-17-2011
20110282773Method For Sequestering Carbon Dioxide Via Fertilization Of A Body Of Water From The Air, And For Acquiring Compensation Therefrom - A method of sequestering carbon dioxide in a body of water such as an area of ocean by seeding the water surface with a fertilizer including iron. The seeding is conducted from the air using an aircraft equipped with a device to record or otherwise document the details of the iron distribution, where the method of distribution has been approved in advance for acquisition of carbon sequestration credits by an appropriate agency. Evidence of the success of the application is presented to the appropriate regulatory body and the carbon credits acquired.11-17-2011
20100268632METHOD AND SYSTEM FOR PROVIDING MULTI-MARKET ELECTRONIC TRADING WITH CLOUD COMPUTING - A method and system for providing multi-market electronic trading with cloud computing. Electronic trading is provided via cloud computing network using public networks, private networks, community networks and hybrid networks. The cloud computing network provides on-demand self-service, broad network access, resource pooling, rapid elasticity and measured trading services for electronic trading. The method and system dramatically improve a trading infrastructure used by electronic traders by providing electronic trading using less bandwidth and less processing cycles via the cloud computing network than via a non-cloud computing network.10-21-2010
20090083175AUTOMATED BATCH AUCTIONS IN CONJUNCTION WITH CONTINUOUS FINANCIAL MARKETS - A method and system for performing a batch auction whereby a series of orders, according to a variety of predetermined order types, are generated by qualified market participants and communicated to an auction system. The auction system takes into account each order and its impact upon relative supply and demand to determine by a preset algorithm a price and share transaction quantity. Trades are executed at the price, and a portion of the transaction quantity is allocated to each investor on a fair basis dependent upon their initial orders. In embodiments of the present invention, the auction system uses a computer system or network designed to automatically perform one or more steps of the above method. Such a system is preferably connected to one or more ECNs such that non-executed shares can be automatically sent to outside sources for execution. In alternative embodiments, the invention includes the use of a one or more intermediaries or market makers to cover certain unexecuted trades at the determined price. The present invention is preferably used to conduct batch auctions at the opening and closing of securities trading markets.03-26-2009
20110040666Dynamic pricing system and method for complex energy securities - A dynamic pricing system for complex energy securities, comprising a communications interface executing on a network-connected server and adapted to receive information from a plurality of iNodes, an event database coupled to the communications interface and adapted to receive events from a plurality of iNodes via the communications interface, a pricing server coupled to the communications interface, and a statistics server coupled to the event database and the pricing server, is disclosed. According to the invention, the pricing server, on receiving a request to establish a price for an energy security, requests at least one statistical indicia of risk from the statistics server, the statistical indicia of risk being computed by the statistics server based on a plurality of historical data obtained from the event database, and the pricing server computes a price for the security based at least in part on the statistical indicia of risk.02-17-2011
20110078066CONSOLIDATED SALES, MARKETING, AND CUSTOMER SUPPORT SYSTEM FOR FINANCIAL PRODUCTS - A method includes accepting financial product information through a provider computer; accepting advisor information and client information; allowing access to a portion of the financial product information, based on the client information, through a client computer; allowing access to another portion of the financial product information not accessible through the client computer, based on the advisor information, through an advisor computer; and tracking and reporting the advisor information and the client information through metrics.03-31-2011
20100125518SYSTEM AND METHOD FOR FACILITATING EXCHANGE OF CREDIT DEFAULT SWAPS - A system and method for facilitating the exchange of credit default swaps identifies one of a plurality of users accessing a client processing device. Data representative of tendered credit instruments and offer prices from a plurality of tender processing devices is received at a server processing device. The server processing device determines from user data whether sufficient credit is available to the identified user for the purchase of a selected quantity of the tendered credit instrument. If sufficient credit for the identified user does exist the selected tendered credit instrument is transferred by instructing a payment clearance of the payment transaction, electronically signing an electronic credit default swap contract on behalf of the user and the buyer or seller of the tendered credit instrument and transmitting the credit default swap contract to the tender processing device and client processing device.05-20-2010
20090182658AUTOMATIC FINANCIAL INSTRUMENT TRANSACTION SYSTEM - A computer-based transaction system manages representations of a plurality of positions in a first type of financial instrument, such as bond future contracts. The transaction system, at a first predetermined time, converts each position in the first type of financial instrument into a corresponding position in a second type of financial instrument, such as bonds. At a second predetermined time that is after the first predetermined time, the transaction system converts each position in the second type of financial instrument into a position in the first type of financial instrument.07-16-2009
20110302073METHOD AND APPARATUS FOR PRICE IMPROVEMENT, PARTICIPATION, AND INTERNALIZATION - A method for stock option trading includes receiving an option order at a market, contemporaneously receiving a copy of the option order at an electronic drop (EDrop) system, which is separate and distinct from the market, obtaining a potential cross quantity and a potential cross price based on the option order at the EDrop system, and submitting, through the EDrop system, a contra-order, with respect to the option order, to the market for fulfillment, wherein the contra-order specifies at least one of an underlying security potential cross quantity, and the potential cross price.12-08-2011
20110302075BOND ISSUE RISK MANAGEMENT - The present invention provides an auction system that allows bond issue sales to be offered in an open and transparent manner, wherein, a certain percentage (up to 100%) of bonds in a bond issue can be offered to qualified bidders at a “buy now” pre-auction price, set by an issuer and/or lead manager. Investors can be allowed to “bid some bonds out of the auction process” and thus guarantee their allocation and also allow bidders to participate in an open auction for other bonds. Bonds to be offered in a bond issue can include a subset of pre-auction price bonds and a subset of auction price bonds. The pre-auction price bonds are offered to pre-auction bidders at a pre-auction price, and auction bonds are generally sold to the highest bidder. Pre-auction sales can serve as a catalyst for generating enthusiasm for an associated bond issue auction.12-08-2011
20110302069Treasury Funded Structured Settlements - Maximizing the safety of funds paid by a defendant for the benefit of a claimant as specified in a structured settlement agreement in settlement of a personal liability or worker's compensation claim, and minimizing income taxes due from the claimant as a result of the receipt of payments arising from the settlement. A trust is established as owner of trust property, which is provided by the defendant; substantially all of the trust property is invested in uniquely identified United States Treasury obligations; and periodic payments to the claimant are made in accordance with the payment schedule using proceeds derived from the trust property. The claimant is provided with a security interest in the United States Treasury obligations that will be automatically perfected in the event of the bankruptcy of the safekeeper.12-08-2011
20120109810System and Method for Selectively Displaying Market Information Related to a Plurality of Tradeable Objects - A graphical interface and method are provided for selectively displaying market information corresponding to a plurality of tradeable objects. According to one example method, a scanning feature is provided in relation to a number of tradeable object indicators. Upon detecting a predefined movement of a user input device in relation to the plurality of indicators, a graphical interface dynamically displays market information corresponding to the tradeable objects as a predefined movement of the user input device is detected in relation to the tradeable object indicators.05-03-2012
20120011049SYSTEMS AND METHODS FOR SECURITIZING A COMMODITY - A system and method for providing a tradable (e.g., exchange-listed) instrument by securitizing a commodity using a commodity trust or other special-purpose vehicle that is established to hold one or more physical commodities and to issue commodity trust shares and/or receipts corresponding to the value of the physical commodity held by the Trust. The commodity trust shares may represent a proportional interest in the Trust and/or the physical commodity held by the trust, e.g., precious metals such as gold, or base metals such as copper. The Trust may include one or more Trust accounts to receive and store the physical commodity deposited with the Trust. The shares or receipts of the trust can be listed, quoted, and traded on a trading system, e.g., an Electronics Communication Network (ECN), and may be traded as Exchange Traded Fund (ETF) shares on a securities exchange.01-12-2012
20110288984SYSTEM AND METHOD FOR ENABLING CUSTOM PORTFOLIO DEFINITION IN AN IP MARKETPLACE - A comprehensive platform for merchandising intellectual property (IP) and conducting IP transactions is disclosed. A standardized data collection method enables IP assets to be characterized, rated and valuated in a consistent manner. Project management, workflow and data security functionality enable consistent, efficient and secure interactions between the IP Marketplace participants throughout the IP transaction process. Business rules, workflows, valuation models and rating methods may be user defined or based upon marketplace, industry or technology standards.11-24-2011
20110288987IMPLIED MATRIX FOR TRADEABLE OBJECTS - System and methods for displaying implied market data are developed. One example method includes displaying a plurality of indicators corresponding to a plurality of tradeable objects via a graphical interface. Upon identifying a first tradeable object, the method includes determining an implied relationship between the first tradeable object and the at least one of the plurality of tradeable objects. The method further includes displaying a graphical indicator in relation to an indicator corresponding to the first tradeable object and at least one indicator corresponding to the at least one of the plurality of tradeable objects to indicate an implied relationship between the first tradeable object and the at least one of the plurality of tradeable objects.11-24-2011
20110288986SYSTEM AND METHOD FOR DYNAMICALLY REGULATING ORDER ENTRY IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.11-24-2011
20110288985SYSTEM AND METHOD FOR ENABLING CHANNEL RELEVANCY AND RATING IN AN IP MARKETPLACE - A comprehensive platform for merchandising intellectual property (IP) and conducting IP transactions is disclosed. A standardized data collection method enables IP assets to be characterized, rated and valuated in a consistent manner. Project management, workflow and data security functionality enable consistent, efficient and secure interactions between the IP Marketplace participants throughout the IP transaction process. Business rules, workflows, valuation models and rating methods may be user defined or based upon marketplace, industry or technology standards.11-24-2011
20110288981METHOD OF TRADING IN REAL ESTATE DERIVATIVES - A method of computing a real estate derivative index value includes: selecting asking rent data; selecting lease rent data; and combining the selected asking rent data and the selected lease rent data to form the index value. The method may further include further combining the combined data with a value representative of general market conditions; forming a composite index of data from plural markets; or computing the index at the end of a time period as:11-24-2011
20110288983SYSTEM AND METHOD FOR TRADING IN A FINANCIAL MARKET - A computer system for executing transactions in a financial market, the system including: (a) a price calculator for calculating blended pricing data from source pricing data received from one or more pricing sources which are independent of any parties to the transaction, the blended pricing data representing a blended bid and blended offer; (b) an automatic transaction processor for automatically executing transactions between a broker-controlled account and an account owned by a predetermined independent market entity based on transaction data generated by a broker-controlled computing apparatus using the blended pricing data; and a pricing data feed handler in communication with the price calculator for transmitting the blended pricing data to the broker-controlled computing apparatus.11-24-2011
20110288982SYSTEM AND PROCESS FOR TRADING A PHYSICAL COMMODITY - A system for trading a physical commodity that is geographically dispersed or of variable quality, the system including: a market maker component operative to maintain price data representing a buy price and a sell price for trading the commodity being constant with respect to: (i) the pickup and delivery locations of the commodity if the commodity is geographically dispersed; and (ii) the quality of the commodity if the commodity has two or more quality levels; and a trading component operative to receive offer data representing buy and sell offers from a plurality of buyers and sellers of the commodity, the trading component being configured to match each of at least a portion of the buy and sell offers with a corresponding one of the buy price and sell price to execute over-the-counter trades in the commodity with the market maker component.11-24-2011
20110288979Premium Computation Device for Currency Option, Program, and Storage Medium - As options used to compute a premium of a currency option to be evaluated, forward delta call/put plain options based on a forward rate are applied in addition to an ATM plain option, volatilities of the forward delta call/put plain options are computed, and an exercise price of the forward delta call plain option is computed using the volatility and an exercise price of the forward delta put plain option is computed using the volatility, thereby using the computed results for a computation of a premium for computing a correction value.11-24-2011
20090276352System and Method for Displaying Money Management Information in an Electronic Trading Environment - A system and method for displaying a plurality of profit and risk related indicators are described. A graphical interface displays and dynamically updates a plurality of profit/loss (P/L) indicators including a realized, net, and open indicator. The net and open indicators are based on a trader's net position and a current market level, while the realized indicator is based on trader's buys and sells associated with a tradeable objects. In one embodiment, the plurality of indicators are displayed in relation to a plurality of money management regions defining a maximum order quantity and a maximum net position controlling the trader's trades, so that a trader can quickly determine his current as well as potential money management parameters. The graphical interface may also display a plurality of potential risk/gain indicators in relation to a realized profit indicator so that a trader, before entering an order having a predetermined order quantity, can view a potential risk/gain in entering into a predetermined net position in view of potential market movements.11-05-2009
20120016791SYSTEM AND METHOD FOR FORMING A FINANCIAL INSTRUMENT INDEXED TO ENTERTAINMENT REVENUE - A method for forming a securities bundle indexed to entertainment revenue includes determining a first funding amount for a first entertainment event. A second funding amount is determined for a second entertainment event. Next, a dividend schedule is determined for the first and second entertainment events. A securities bundle is formed at least partially based on the funding amounts and the dividend schedule, with the securities bundle comprising a first security and a second security. The first security is associated with the first entertainment event and the second security is associated with the second entertainment event.01-19-2012
20120016789System and Method for Changing Order Priority Levels in an Electronic Trading Environment - A system and method for fee-based order priority level modification in an electronic trading environment are described. When an order reaches an exchange, a priority level of the order may be changed to a higher priority level, and the priority level of the order initially at the higher priority level may be changed to a lower priority level of the received order. In one embodiment, a trader who is gaining a higher priority level will be preferably charged a fee for having his order moved to the higher priority level, and at least a portion of that fee may be paid to a trader who is giving up his high priority level.01-19-2012
20120016788ELECTRONIC SECURITIES MARKETPLACE HAVING INTEGRATION WITH ORDER MANAGEMENT SYSTEMS - An electronic trading marketplace (ETM) communicates with interfacing modules interfacing directly with order management systems (OMS's) at trading institutions. The interfacing modules automatically transmit orders from the OMS databases to the ETM and update the OMS databases in response to orders executed at the ETM. Traders can communicate with the ETM to anonymously negotiate trades of securities.01-19-2012
20120016787Methods, Systems, and Computer Program Products for Providing Low Risk Portable Alpha Investment Instruments - Provided are methods of providing a portable alpha investment instrument. Some embodiments of such methods include allocating a first portion of a financial asset to a first asset class, allocating a second portion of the financial asset to a second asset class, establishing a swap transaction corresponding to the first portion of the financial asset, the swap transaction configured to define a minimum term corresponding to an asset status change, and transferring the first portion and the second portion of the financial asset responsive to the allocating.01-19-2012
20110295737Settling Over-The-Counter Derivatives Using Synthetic Spot Benchmark Rates - Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial derivatives may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial derivative may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.12-01-2011
20110295736SYSTEM AND METHOD FOR RELATIVISTIC STATISTICAL SECURITIES TRADING - A system comprising a processor configured to calculate a location for a server along a communication link between a first trading center and a second trading center based at least in part on a property of the communication link. The server may be configured to send first trade instructions for trading a first financial instrument to the first trading center and send second trade instructions for trading a second financial instrument to the second trading center.12-01-2011
20110295735SYSTEMS AND METHODS FOR PROVIDING FINANCIAL INSTRUMENTS INCLUDING CONTRARY POSITIONS - A market for trading hedged instruments is provided. The market includes at least one hedged instrument having a value based at least on a first position on a first tradable instrument and a second position on a second tradable instrument. The second position is contrary to the first position.12-01-2011
20090112749DYNAMIC WEB-BASED CONTENT BROKERAGE AND REVENUE SYSTEM - Systems and methods are disclosed for brokering media content or segments created by media creators for use by licensees on a website or webpage of the licensees. The media creators upload their media to a hosting database via an account, and potential licensees bid for the right to be a licensee and to use the media on their webpage. The highest bidding licensee receives a permission authorizing the delivery and display of the media on their webpage, via the database recording the actual page views and deliveries for calculating a license fee to be paid to the host and to the media creators for use of the media thereon.04-30-2009
20090089197TBA FUTURES CONTRACTS AND CENTRAL COUNTERPARTY CLEARING OF TBA - Networks, systems and methods that match orders for TBA futures and settle and clear open positions for TBA futures are disclosed. The TBA futures may include MBS TBA future contracts. A central counterparty clearing firm may net long and short positions and generate delivery instructions to parties having open positions.04-02-2009
20130218740TRADING SYSTEM PRODUCTS AND PROCESSES - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.08-22-2013
20130218746Out of Band Credit Control - Systems and method for mediating risks associated with orders in an electronic trading system are provided. A front end component includes a plurality of trading engines that receive orders from traders. A back-end component includes a match system. The system includes a credit control module, which may be located at the back-end (e.g., clearinghouse), front end, a combination thereof, or other location that communicates with the plurality of trading engines. The credit control may monitor aggregate risk parameters for the trading engines and requests credits from trading engines.08-22-2013
20090299895METHOD AND SYSTEM FOR PROVIDING RULE-BASED COLLATERAL ALLOCATION AND SUBSTITUTION - A system and method are disclosed for managing collateral allocation and substitution in general collateral repurchase agreements. In a preferred embodiment, an intermediary computer system facilitates the execution of anonymous general collateral repurchase agreements between buyers and sellers. The intermediary system manages initial collateral allocations and substitutions in accordance with systematic and impartial rules.12-03-2009
20130218749METHOD AND SYSTEM FOR TRANSFER OF BULK COMMODITIES - A method and system are disclosed for making bulk groupings of various products and services available for purchase and sale by an individual or a business. The method includes grouping a plurality of commodities into a bulk bundle. A first price is then established for purchase of the entire bulk bundle. A second price can also be established to permit a consumer to obtain an option to purchase the bulk bundle at a future date. A suitable communication and transaction system, such as an Internet connection, can be used to establish a market in which the bulk bundles can be transferred between or among providers and consumers. The method and system therefore combine conventional trading elements with several new elements, including the concept of partial consumption, to provide a unique method that can be applied in a variety of product and service categories. The significant benefits of price discovery and automation of transactions associated with transfer of bulk bundle commodities are also provided to the consumer.08-22-2013
20110295734System and Method for Implementing and Managing Basis Futures - A method for implementing a basis futures contract is disclosed. The method includes receiving trade data at a server, defining, at the server, a first futures contract based on an index identified in the received trade data, defining, at the server, a second futures contract based on a basis associated with the index identified in the received trade data, such that the basis reflects a fair value associated with the first futures contract, listing, via a match module, at least the second futures contract, matching, via the match module, at least the second futures contract, and calculating, at the server, a final settlement price associated with the first contract based on a daily settlement price of the index and a basis future settlement price associated with the second contract.12-01-2011
20110302074SYSTEMS AND METHODS FOR ENABLING TRADING OF CURRENCY - Systems and method of enabling trading in currencies are provided. A method of trading a foreign currency option on an electronic trading system according to the invention may include executing a trade of the foreign currency option between a buyer and a seller, locking the trading system with respect to the traded foreign currency option, querying the buyer whether the buyer desires to buy or sell additional volume of the option, querying the seller whether the seller desires to sell or buy additional volume of the option, and authorizing additional participants to join the trade and querying the additional participants whether each of the additional participants desires to buy or sell a volume of the option. The method may also include starting a countdown timer and displaying the timer on the graphical user interface of the buyer, the seller and the additional parties and receiving buy and sell orders from the at least one of the buyer, the seller and additional participants. Following the expiration of the countdown timer, the method preferably includes matching existing buy orders and sell orders for the option. In one embodiment of the invention, the matching occurs according to a predetermined order priority.12-08-2011
20110302072METHOD AND SYSTEM FOR THE INTEGRATION OF FIXED INCOME FINANCIAL INSTRUMENTS - An electronic trading platform for cash and cash futures (options) is provided in which the cash and cash futures (options) markets are combined together in a single platform. The cash and cash futures (options) markets can be traded on the same screen. The electronic trading platform also brings the cash futures (options) in line with the cash markets. In another aspect, the electronic trading platform for cash and cash futures (options) enables the automatic matching of bids and offers. In another aspect, an OTC cash future (option) can be provided.12-08-2011
20110302070Systems and Methods for Netting of Transactions - An aspect comprises a computer readable memory that stores information regarding a first derivatives transaction between a first entity and a second entity; and a processor unit that calculates, based on the information regarding the first derivatives transaction, one or more parameters for each of a second derivatives transaction and a third derivatives transaction; wherein the second derivatives transaction is between a clearing entity and the first entity, and the third derivatives transaction is between the clearing entity and the second entity; wherein the second derivatives transaction provides a substantially similar effect to the first entity as the first derivatives transaction; wherein the third derivatives transaction provides a substantially similar effect to the second entity as the first derivatives transaction; wherein the clearing entity is a limited recourse central counterparty, and wherein the processor unit comprises one or more processors.12-08-2011
20080228624INTERACTIVE ONLINE FUNDING METHOD AND SYSTEM THEREOF - An interactive online funding method includes providing an interactive online funding platform, offering an interactive funding activity for a user to participate in the interactive online funding platform, by placing a bid, and comparing the bid price of the user with a threshold price set by the interactive online funding platform. When the bid price is greater than or equal to the threshold price, the method further includes utilizing the interactive online funding platform to perform settlement and liquidation to remit a loan amount to the user according to at least the bid price; when the bid price is lower than the threshold price, the method further includes utilizing the interactive online funding platform to perform settlement and liquidation to receive a deposit amount from the user according to the bid price.09-18-2008
20090276349ELECTRONIC SECURITIES MARKETPLACE HAVING INTEGRATION WITH ORDER MANAGEMENT SYSTEMS - An electronic trading marketplace (ETM) communicates with interfacing modules interfacing directly with order management systems (OMS's) at trading institutions. The interfacing modules automatically transmit orders from the OMS databases to the ETM and update the OMS databases in response to orders executed at the ETM. Traders can communicate with the ETM to anonymously negotiate trades of securities.11-05-2009
20100145843METHOD AND APPARATUS FOR PRICING TRADE ORDERS TO ONE SIDE OF A MARKET CENTER ORDER BOOK - A collection of one or more trade orders for a financial instrument is priced or re-priced to one side of a market center order book based on a target execution price (representing the least favorable price acceptable for all trade orders of the collection), a book depth (representing the collection's book depth), a total order quantity (representing the total quantity of financial instrument units to be traded), and a maxshow (representing the maximum quantity to be shown on the order book at each price level of the book depth). Any existing orders of the collection that are too close to the current market price or too far from the target execution price are canceled or CXR'd, starting with the closest price level to the current market price for “too close” trade orders and the farthest price level from the Target Execution Price for “too far” trade orders. The oldest of any “too-close” trade orders resting at the same price level are cancelled first in order to maximize queue priority and obtain favorable fill prices, and the newest of any “too-far” trade orders resting at the same price level are cancelled first in order to maximize the likelihood of getting the older orders (which have a higher queue priority) filled at the more favorable too-far price. At each price level of the book depth, the quantity of financial instrument units represented by trade orders of the collection is adjusted as necessary to prevent overfilling the total order quantity.06-10-2010
20090030831METHOD FOR STRUCTURING, VALUATING AND TRADING SECURITIES RELATED TO THE PERFORMANCE OF ATHLETES - The method is for structuring, valuating and trading securities. Athletes who have prior performances are evaluated. At a start of an evaluation period, a service provider determines initial values for securities based on the prior performance. The securities are traded in a market at a market price based on supply and demand. The service provider monitors performances of the athletes during the evaluation period. The service provider determines final values at an end of the evaluation period based on the performances and the final values are then paid to the investors.01-29-2009
20100036766Method, Apparatus, and Interface for Trading Multiple Tradeable Objects - An interface for trading multiple tradeable objects includes a price axis or scale. A first indication of quantities represented in a market for a first tradeable object is displayed in association with the price axis or scale. A second indication of quantities represented in the market for a second tradeable object is displayed in association with the price axis or scale. The first tradeable object may be different than the second tradeable object. Alternatively, the first tradeable object and the second tradeable object may be the same, but the indications of quantity may be provided from different sources, such as different exchanges.02-11-2010
20100036764OPERATION OF INTERNET WEBSITES - A method and system for facilitating the operation of an Internet website is provided. The method employed by the system may include receiving, at an exchange, information about a publisher's website for which the publisher wishes to sell shares and communicating the information to an investor. The investor may then generate a purchase order for purchasing a number of shares in the publisher's website. A money amount may then be transferred from an account associated with the investor to an account associated with the publisher. At a later time, dividends may be paid to the investor or an investor may sell his shares in the website to a different investor.02-11-2010
20100036765Method for valuing forwards, futures and options on real estate - A system and method for matching buy and sell orders is provided. A daily cash index of real estate values for a local region is maintained and a trading instrument representative of an interest in real estate in the local region is created. In this regard, a cash settlement of the trading instrument is a function of the daily cash index on the date of said cash settlement. In addition, a plurality of buy orders relating to the instrument are generated; a plurality of sell orders relating to the instrument are generated; and the buy and sell orders are matched to determine a purchase and sale of the instrument.02-11-2010
20100036763PRODUCTS AND PROCESSES FOR ORDER DISTRIBUTION - Systems and methods for trading financial instruments through multiple trading intermediaries are described.02-11-2010
20110218903ELECTRONIC SYSTEM AND METHOD FOR EXECUTING A TRADE - An Internet based investment account management system that consists of data, a rules database, a business logic manager and user profiles is described. The rules database stores information about system responses to modifications of the data. The user profiles store information concerning the availability of information and displays depending upon the user. Automatic updates to user profiles in response to modifications to the data are performed. The business logic manager can be configured to define whether the trader is authorized to execute a trade and whether sufficient holdings are available at a custodian bank in order to execute trade. A data exchange link may then be used to send data to a broker/dealer system to execute the trade.09-08-2011
20110218900SYSTEMS AND METHODS FOR COMPRESSION OF TRADE-RELATED RECORDS - In certain embodiments, a computer system and process for use in a trading system are provided that allow trading entities to compress trade records while simplifying the reconciliation process. Advantageously, compressed trade records are processed by a custodian firm, while uncompressed reconciliation data are processed by a central counterparty. In some embodiments, a computer system and process are provided that allows trading entities to compress trade records across markets. Advantageously, compression across markets provides a larger pool of eligible trade records for compression, increasing the number of compressible trades, and thus reducing fees paid by the trading firm and the amount of data transmitted.09-08-2011
20110218899SYSTEMS AND METHODS FOR COMPRESSION OF TRADE-RELATED RECORDS - In certain embodiments, a computer system and process for use in a trading system are provided that allow trading entities to compress trade records while simplifying the reconciliation process. Advantageously, compressed trade records are processed by a custodian firm, while uncompressed reconciliation data are processed by a central counterparty. In some embodiments, a computer system and process are provided that allows trading entities to compress trade records across markets. Advantageously, compression across markets provides a larger pool of eligible trade records for compression, increasing the number of compressible trades, and thus reducing fees paid by the trading firm and the amount of data transmitted.09-08-2011
20110218902INTELLIGENT EXECUTION FOR BROKERAGE TRADE ORDERS - A method and apparatus for driving a trade via an electronic trading platform are provided. Traders may define trade order parameters including at least one monitored parameter and at least one rule for assigned thereto. The trade orders will only be executed when current market data satisfies the at least one monitored parameter and at least one rule. Said monitored parameters are selected from a current market price, a current bid and/or ask value, volume, a Volume Weighted Average Price (VWAP), or a combination thereof. The rules are based on a number and/or volume of executed market orders, placed by other traders, during a certain time period, a time period passed since it was determined that the at least one monitored parameter satisfies the market data, or a combination thereof.09-08-2011
20110191233Auto Substitution Collateral Management System and Method - An auto substitution system and method are provided for facilitating fulfillment of intraday trading requirements by implementing collateral in encumbered shells of tri party repo agreements. The method is triggered upon notification of insufficient unencumbered collateral to satisfy delivery instructions for required collateral. The method includes receiving, at an auto substitution system, a request for the required collateral upon failure to locate unencumbered required collateral. The method further includes implementing computer processing components of the auto substitution system to search for the required collateral in the encumbered shells and upon finding the required collateral, searching for replacement collateral for the required collateral. The method further includes implementing the required collateral found in the encumbered shells to fulfill delivery instructions and substituting the replacement collateral for the required collateral found in the encumbered shells.08-04-2011
20110191231Method and System for Improving Trading and a Trader's Ranking - A method and system are disclosed for improving trading and a trading client's rankings in a platform exchange of member clients. The method includes assigning a credit exchange rate to website performance metrics such as Google Page Rank and Alexa Rank. The broker maintains an ordered database of all clients' website backlink credit accounts where the highest account is ordered most significantly for distribution to members. Templates created by a client include a desired reference URL, desired anchor text for the link, and a description. A client may pull a backlink template within a predetermined category or class based on the highest qualifying account and posts a link to another client's website based on the link template. The client earns credits for posting a link to another member's website based on his page rank and pays credits to other members posting links to his website based on their page rank.08-04-2011
20110191230METHOD AND SYSTEM FOR OPTIMAL PRICING AND ALLOCATION FOR A SET OF CONTRACTUAL RIGHTS TO BE OFFERED WITH CANCELING/MODIFYING OF INDICATIONS OF INTEREST - A method and system for the determination of optimal pricing and allocation of securities in an open, competitive environment. The method and system may also be used in developing pre-markets of other items that are difficult to price and allocate in a competitive manner, such as the underwriting/securitization of contracts for property; future revenue/earning streams from an asset and/or group of assets; underwritten insurance portfolios, intellectual property and other goods and services. The system of price optimization and allocation is accomplished by interactive feedback of information using a display and including competitive participation of individual members of the public (and/or their agents) or institutional buyers over a data network e.g., the Internet, uncovering the nature and identification of demand in a self-organizing fashion. Demand emerges through participants' interaction with the system and with each other, via a graphically-supported, interactive reservation process.08-04-2011
20110191228SYSTEM AND METHOD FOR TO BE ANNOUNCED (TBA) BOND TRADING - A system and method for bond trading and TBA bond contract trading. The system includes a bond contract buying module operable to perform activities related to buying a first bond contract and a bond contract selling module operable to perform activities related to selling a second bond contract. The first bond contract includes a first description of bonds that satisfy the first bond contract. The second bond contract includes a second description of bonds that satisfy the second bond contract. The system further includes a clearing entity communication module operable to communicate with a clearing entity regarding the activities related to the buying of the first bond contract and the selling of the second bond contract.08-04-2011
20100088215SYSTEM AND METHOD FOR MATCHING ONE OR MORE INCOMING ORDER TO A STANDING ORDER BASED ON MULTIPLE ORDER PRIORITY ALLOCATION - A method of order allocation is disclosed. The method includes receiving an incoming order, establishing an inner market representing a first portion of an order book which may be defined as a function of an inner market parameter, designating the first portion of the order book as a priority and allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order book that includes the remainder of the order book not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a first-in, first-out (FIFO) algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm.04-08-2010
20100114756System and Method for Trading Options - A system and method of trading option contracts, such as foreign currency option contracts, is described. In one embodiment, a system and method for web-based or network-based interactive trading of currency options is described. Users of the system provide volatility runs of currency options, deal on existing offers to sell or bids to buy, or may improve on existing offers to sell or bids to buy. The system and method provide automatic price quotations for a requested option contract by polling internal volatility surfaces of users for prices on the requested contract, and ensure a more orderly pattern of trades by categorizing the users into discrete tiers which determine a user's obligations to provide offers and bids to the system and which determine a user's opportunities and rights to trade on the system.05-06-2010
20100114751METHOD FOR TRADING USING VOLUME SUBMISSIONS - A method for reducing the amount of time for a user to submit an order is provided. Volume submission allows a user to submit and revise orders with a single action on a volume entry region. Typically, a user has to set a price and quantity. Many users wait for specific prices or track prices dynamically based on predefined criteria. These trading styles eliminate the need to set the price manually for each transaction. It is advantageous to provide a list or menu of buttons or selections with preconfigured volumes for the user to choose, thus allowing the single action of choosing the volume to submit the order.05-06-2010
20100114754Win, lose or draw derivative instruments - Methods and systems are disclosed for listing and trading fixed-payoff derivative contracts between two parties based on the movement of an underlying financial instrument in a manner that eliminates the cost associated with a traditional option premium. The invention, henceforth referred to as a “Win, Lose or Draw” derivative contract, is a cash position for or against the occurrence of a designated price event above an underlying financial instrument's spot price before the occurrence of a designated price event below an underlying financial instrument's spot price, or vice versa, within a designated time period. If neither designated price event occurs within the designated time period, no loss of cash position is incurred by either party. Additional embodiments include the application of asset-backed contracts, transferable positions, multiple underlying financial instruments within the same contract, asymmetric time periods, and expirationless time periods.05-06-2010
20100010929System and Method for Calculating and Displaying Volume to Identify Buying and Selling in an Electronic Trading Environment - A system and method are provided for calculating and displaying volume to identify aggressive buying or selling activity. In a preferred embodiment, market information such as the inside market, last traded price, and last traded quantity is received from the electronic exchange and is used to assist a trader in determining the initiative side of a trade, either bid side or ask side. Once a determination is made, the result may be used to assist a trader analyzing the market volume. Other features and advantages are described herein.01-14-2010
20100268636DEAL MATCHING IN AN ANONYMOUS TRADING SYSTEM - An anonymous trading system comprises an interconnected network of broking noted arranged in cliques which receive buy and sell orders from trader terminals via connected trading engines and which match persistent orders, executed deals and distribute price information to trader terminals. Where two orders are matched, a proposed deal message is sent by the matching broker. If another broker has processed an event which makes the matched quote unavailable the match fails and rematch may occur. Rematch may be attempted by an intermediate broker provided it owns one side of the match, or it received both sides of the match from brokers in different cliques. The intermediate broker attempts to match with the next available quote in the queue.10-21-2010
20100268634METHOD AND SYSTEM FOR ELECTRONIC TRADING VIA A YIELD CURVE - A method and system for providing automatic electronic trading via yield curves. The method and system allow automatic execution of electronic trades with yield curve trading strategies and yield curve trading indicators that that have reached a pre-determined yield curve trading limits. The yield curve trading values that have reached the pre-determined yield curve trading limits are also displayed visually in a graphical three-dimensional (3D) format to provide additional visual indicators on a graphical user interface used for electronic trading via yield curves.10-21-2010
20100268633METHOD AND SYSTEM FOR PROVIDING ELECTRONIC OPTION TRADING BANDWIDTH REDUCTION AND ELECTRONIC OPTION RISK MANAGEMENT AND ASSESSMENT FOR MULTI-MARKET ELECTRONIC TRADING - A method and system for providing electronic option trading bandwidth reduction and risk management and assessment for multi-market electronic trading. Data streams including electronic option trading information are split into plural individual data streams by a server network device and/or one or more network interface cards (NICs). The individual data streams are made available to target network devices using less network bandwidth and fewer processing cycles that would be required to process the whole data including the electronic option trading information. The option trading risk assessment and management information includes an “integrated viewpoint” that aggregates an option trader's activities across all their electronic option trading accounts, their current and historical option trades and option trade locations on all option trading exchanges.10-21-2010
20090048960BIPARTITE MATCHING MARKET FOR UTILIZATION WITH ADVERTISEMENT PLACEMENT EXCHANGE SYSTEM - Exemplary embodiments of the present invention relate to a bipartite matching exchange methodology. The method comprising receiving at least one buy bid from at least one buying party, receiving at least one sell bid from at least one selling party, and matching the at least one sell bid with the at least one buy bid thereby yielding at least one matched buy bid and at least one matched sell bid wherein the resulting allocation of the at least one matched buy bid and the at least one matched sell bid maximize a surplus of an exchange.02-19-2009
20120239548Hedging Risks Associated with Variable Priced Orders for Derivative Financial Products - Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.09-20-2012
20120239547Trading System Having Increased Liquidity Provision - An anonymous trading system includes a prime broker facility that allows a third party to trade on behalf of an institution. A deal is executed between the third party and a counter-party and a further deal is then executed between the third party and the party on whose behalf it has traded. The second deal may be for the same amount as the first deal or may be altered to include the third party's fee for conducting the first deal. Clients of the third party have prices available to them for trades made via the third party which are displayed at their trader terminals. The client sees that a better price is available though the third party than by dealing direct and selects to conduct a deal through the third party.09-20-2012
20090150279DEVICE, SYSTEM, AND METHOD OF ONLINE TRADING - In some embodiments, a system may include a memory having stored thereon trading-application instructions; and a processor to execute the trading-application instructions resulting in a trading application, wherein the trading application is able to cause a display device to display to a user a visualized trading tool corresponding to a trade position of the user with relation to a financial instrument, wherein the visualized trading tool includes at least one graphical element representing the trade position, and one or more user-controllable graphical indicators representing one or more respective position-related parameters of the trade position, and wherein the trading application is able to receive an input responsive to movement of at least one of the graphical indicators and to dynamically update the trade position based on the input. Other embodiments are described and claimed.06-11-2009
20090150281ELECTRONIC NETTING SYSTEM FOR BILATERAL TRADES - An electronic netting system. The system may include: (a) a plurality of individual, segregated counterparties for providing bilateral trades, (b) a multi-lateral transaction hub, and (c) a trading system in communication with the transaction hub. The multi-lateral transaction hub may be for (i) providing an aggregation of trades between the counterparties, (ii) providing for multi-lateral netting of selected and authorized bilateral trades, and (iii) apportioning the accumulated trade values among the counterparties according to pre-determined netting parameters including a weighted distribution selectable by at least one of the counterparties. The transaction hub may include: (i) a trade processing system and (ii) a netting system in communication with the trade processing system for providing for the optimized, multi-lateral netting of selected and authorized bilateral trades and apportioning the accumulated trade values among the counterparties.06-11-2009
20100121753SYSTEM AND METHOD FOR HOSTING A PLURALITY OF TRADING ALGORITHMS ON AN EXCHANGE - A system and method of hosting a plurality of trading algorithms on an exchange is provided. The method includes an exchange server that receives an algorithm for trading orders from a user and associates the algorithm with the user in a database. The exchange server receives a marked order having information for associating the marked order with the algorithm, selects the algorithm associated with the user, receives market data from a market data feed, and executes the marked order according to the selected algorithm and the market data. The system includes an exchange server, rule container and rule database configured to execute the above-noted method.05-13-2010
20110264579System and Method for Creating a Market Map in an Electronic Trading Environment - A market map interface displays market information and trader-related information associated with at least two tradable objects. In one embodiment, the at least two graphical interfaces may be linked, and a user may define one or more adjustment parameters to be used to adjust the view of information being displayed via the linked graphical interfaces. For instance, a user may initiate repositioning of one of the linked graphical interfaces, thus, effectively, causing other linked graphical interfaces to be repositioned according to the defined adjustment parameters.10-27-2011
20110264577SYSTEM AND METHOD FOR RAPIDLY CALCULATING RISK IN AN ELECTRONIC TRADING EXCHANGE - Latency in electronic trading is dramatically reduced by delaying trade order validation until a match or trade can potentially occur. If a new order does not meet the matching criteria for an existing order in an order book, then the new order is stored in the order book without performing validation processing in a first example embodiment. In a second example embodiment, the order is stored in the order book before validation has completed. But if a new order meets matching criteria for an existing order stored in an order book, then order validation processing is performed for both of the matching orders. Once the order validation processing is successfully completed for both of the matching orders, then the trade is executed. Order validation processing includes both risk calculations and account validations, (e.g., checking to ensure the party has the necessary money or collateral if a buyer or is the owner if a seller). If the order validation processing is not successfully completed for both of the matching orders, then the trade is rejected.10-27-2011
20110264576SYSTEM AND METHOD FOR PROCESSING COMPOSITE TRADING ORDERS - A system for processing a composite trading order comprises a memory operable to store market data received from one or more market centers. The system further comprises a processor operable to generate a composite value based at least in part on the market data. The processor is further operable to receive a composite trading order associated with at least a portion of the composite value. The processor is further operable to generate a plurality of constituent trading orders that, when filled, combine to satisfy the composite trading order.10-27-2011
20110145124Cover-OCO for Legged Order - A position associated with a synthetic spread order may be managed where a status of a synthetic spread order is identified as legged. The synthetic spread order may have at least one child hedge order pending at an electronic exchange and in response, a bracket order is submitted to an electronic exchange for the tradeable object associated with a filled leg of the synthetic spread. In response to execution of the bracket order, the child hedge order may be cancelled.06-16-2011
20080243667Instruments and market for hedging risks in commercial real estate assets - Real estate is known for its overwhelmingly idiosyncratic risk structure stemming from heterogeneous real assets traded on imperfect markets with asymmetric information, high transaction costs, low liquidity. In theory, property derivatives should be based on multifactor models cognisant of real estate's fundamental risk structure. In practice, no existing derivatives template can accommodate multi-factors. As a result, property derivatives usually offer poor hedging effectiveness, especially in the context of individual buildings and small, under-diversified portfolios of assets. The specification presents the design of two derivative instruments and market template that accommodate complex risk structures. These instruments and market enable investors to efficiently hedge risks involved in heterogeneous real assets such as commercial real estate assets.10-02-2008
20080243668AUTHORIZATION CONTROL SYSTEM AND METHOD TO DETERMINE OPERATION OF A CONTROLLED DEVICE TO PERMIT AN INDIVIDUAL TO PERFORM AN ACTION - At least one price may be determined for an asset and a classification determined for the price in which the classification may include, for example, an indication of how reflective the determined price may be of a market value of the asset.10-02-2008
20100070402User Interface for Semi-Fungible Trading - A user interface and method are disclosed for providing trading between a plurality of semi-fungible and non-fungible goods. A plurality of book axes are displayed in a single interface, each book axis representing a market for a particular good. Orders for goods are displayed as marks on the axes to display the relative value of the orders. A value axis is provided that relates the value of the goods from each market to each other. Thus, a single interface provides the means to relate the values of different semi-fungible goods. The value axis may be displayed in units of price, or a custom value designated by a user or pre-defined by the interface. Quantity information is represented in the interface through the display of a dimension of an order icon. Precise information about each order is displayed either in a panel view or a pop-up window.03-18-2010
20120109813System and Method for Assisted Awareness - A data feed is monitored to determine whether a condition is satisfied. If the condition is satisfied, an alert is initiated to attract a user's attention. Thereafter, playback mode is entered causing the example system to playback a short period of time-compressed data that occurred just prior to the event occurring to set context for the user. Once the playback signal has caught up with the real-time data feed, the data is output at normal levels. Other configurations, which are described herein, are also possible.05-03-2012
20120109812System and Method for Use in Auditing Financial Transactions - A data processing system that records detailed market information for one or more financial markets to facilitate the audit of executed trades for time, quantity, and price as being reasonable. The system receives and records data from financial markets, including the date and time trades are executed and the prices at which the financial instruments traded. The system provides users the ability to compare a particular transaction for a financial instrument to transaction data for the same and/or related financial instruments at around the same time, to determine whether the price paid for the financial instrument is reasonable for the time the trade was executed. A trade confirmation service is also provided to permit traders to verify the parameters of executed transactions.05-03-2012
20120109811System and Method for Activity Based Margining - A system and method for factoring in a trader's trading activity into the margin requirements is disclosed. In the securities arena, day traders are assessed different margins than non-day-traders, however, the specific profile of the trader is analyzed (that is, the same rule applies to all day traders).05-03-2012
20120109809MIDPRICE TRADING WITHIN A SPREAD MARKET - A system and method is provided to allow traders to submit midprice orders to trade at a price within a spread of a market, preferably at the midpoint of a spread market, while maintaining anonymity of the midprice order. A midprice order is anonymous because other traders do not know whether the submitted midprice orders are orders to buy or orders to sell. A midprice order may remain active until it is traded with a contra midprice order or until a parameter associated with the order is breached, thereby resulting in cancellation of the midprice order.05-03-2012
20120109808PERIODIC RESET TOTAL RETURN INDEX FUTURES CONTRACTS - A periodic reset total return index may be based on a standard index, such as an equity index. The value of the periodic reset total return index may be the sum of the standard index plus the income flow generated by the index, such as dividends generated by stocks. The periodic reset total return index valuation may be deployed as the basis for a futures contract. On a periodic basis, the income flow accrued for the preceding period are passed from the short to the long position holder, with a corresponding adjustment of the settlement price of the contract. The expiration of the contract may be settled at the sum of the underlying index quotation plus the income flow accrual for the previous period. A buyer of a futures contract based on a periodic reset total return index receives the performance of the index plus the intervening income flow accrual.05-03-2012
20100268638LINKED DISPLAYED MARKET AND MIDPOINT MATCHING SYSTEM - An automated system for matching orders to buy and sell securities including a displayed market where orders are executed at a BBO price and where information about the market is made available to investors and a midpoint matching market for matching buy and sell orders at a predetermined price, namely, the midpoint between the national best bid and offer. The displayed market and the midpoint matching market are linked so that orders submitted to the displayed market are exposed to the midpoint matching market and can be executed at an improved price if a contra order is available on the midpoint matching market.10-21-2010
20100088216SYSTEM AND METHOD FOR MATCHING ONE OR MORE INCOMING ORDER TO A STANDING ORDER BASED ON TIME ORDER PRIORITY ALLOCATION - A method of order allocation is disclosed. The method includes receiving an incoming order, establishing an inner market representing a first portion of an order book which may be defined as a function of an inner market parameter, designating the first portion of the order book as a priority and allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order book that includes the remainder of the order book not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a first-in, first-out (FIFO) algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm.04-08-2010
20100088218METHOD AND SYSTEM FOR PROVIDING MULTIPLE GRAPHICAL USER INTERFACES FOR ELECTRONIC TRADING - A method and system for providing multiple graphical user interfaces for electronic trading is provided. Electronic trading information is obtained on an application on a target device from one or more electronic trading exchanges. The electronic trading information is displayed on a multi-windowed graphical user interface (GUI) with a number of alternative output displays with dynamic columns in plural different types of output displays in two-dimensional (2D) and three-dimensional (3D) modes.04-08-2010
20110208634System and method for optimizing order execution - An embodiment of the present invention provides computer-implemented methods and systems for optimizing the executing an order, such as trading orders. An order may be electronically routed to an Execution Optimizer (“EO”). The EO may apply a particular profile to the order, corresponding to a particular portfolio manager. Next, the order, with the profile, may be routed, electronically, to a third party where a prediction model may be applied to the order, indicating trading parameters for the order. The order, with the trading parameters from the prediction model, may be passed back to the EO, where a rules engine may apply rules, specific to the executing financial institution, to the order. The order may then be passed to a selected broker for market trading.08-25-2011
20090094153Bidding Language For Combinatorial Auctions And Method Of Use Thereof - In a computer-implemented method for finding a high quality allocation of one or more bids in a combinatorial auction, a number of bids is electronically received. Each bid includes a number of sub bids and a Boolean operator logically connecting each pair of sub bids. Each sub bid is either (1) a good and an associated price or (2) one of the Boolean operators associated with a price and at least two other sub bids. From a number of allocations of goods to sub bids, wherein each allocation of the goods is to a different set of sub bids, an allocation is output that has the greatest value. The value of each allocation includes of a sum of prices of bids that have at least one satisfied sub bid. The price of each bid includes a sum of the prices associated with each satisfied sub bid of the bid.04-09-2009
20100082474Computer method and apparatus that facilitates the trading of complex financial instruments on the internet within the context of a portal as defined by the United States Securities and Exchange Commission - Computer method and apparatus that facilitates the trading of complex financial instruments on the internet within the context of a portal as defined by the United States Securities and Exchange Commission.04-01-2010
20100088211DEBT SECURITY HAVING RETURN INVERSELY RELATED TO ASSOCIATED SECURITY - According to some implementations, a method comprises creating a debt security, wherein the debt security has a creation date and a maturity date, further wherein the debt security is associated with at least one security; issuing the debt security with a principal amount; and determining a rate of return for the debt security at the maturity date, wherein the rate of return for the debt security is inversely related to a rate of return of the associated at least one security between the creation date and the maturity date. According to some implementations, an exchange traded note comprises at least one associated security; and a rate of return, wherein the rate of return for the exchange traded note is inversely related to a rate of return of the associated at least one security between a creation date and a maturity date.04-08-2010
20090307122System and Method of Online Auction of Real Estate Options - A system and method of obtaining offers for an option in one embodiment includes obtaining an option to purchase a real property, storing tax credit data associated with future development of the real property in a database, storing option data associated with the obtained option in the database, associating the stored option data with the stored tax credit data, retrieving the stored option data and the stored tax credit data, displaying the retrieved data, requesting an offer for the option associated with the displayed data, and receiving an offer to purchase the obtained option.12-10-2009
20090292637Computer Implemented Trading System - A computer implemented trading system is described comprising a plurality of buy computers (11-26-2009
20090292634HYBRID TRADING SYSTEM FOR CONCURRENTLY TRADING THROUGH BOTH ELECTRONIC AND OPEN-OUTCRY TRADING MECHANISMS - A system and method of allocating orders in an exchange configured for trading by a combination of electronic and open-outcry trading mechanisms is provided. One method includes permitting multiple quotes to be disseminated to the market, and providing market making rights of varying degrees to entities having a physical presence on the floor of the exchange and entities remotely located away from the trading floor. The system includes a trade engine configured for receiving orders from market makers on and away from the trading floor. The system also includes executable instructions for allocating to designated primary market makers a portion of an incoming order remaining after first trading against public customer orders.11-26-2009
20080270289Algorithmic trading system and method for testing automated trading of financial instruments - Provided is an algorithmic trading system and method for testing automated trading of financial instruments, or for “back-testing”, an executing trading strategy of the algorithmic trading system. An executing trading strategy is formed by processing a generated trading strategy. The generated trading strategy is formed by compiling a created trading strategy. The created trading strategy includes a rule for automated trading, a parameter value for each of at least one parameter and a trading strategy name. The rule includes the at least one parameter and at least one of an order agent and a quote agent.10-30-2008
20080270287METHOD AND SYSTEM FOR DEVELOPING A QUALITY INDEX FUND OF SECURITIES - A method of creating an index fund, the method may include selecting, via a computing device, a plurality of candidate securities. Each candidate security may have a quality rating that meets or exceeds a rating threshold. A dividend payment for each candidate security may be accessed. A computer-generated rank may be automatically assigned to each of the candidate securities. The rank may be based on the dividend payment for each candidate security. The candidate securities may be ranked from highest to lowest. A subset may be selected including the highest ranked candidate securities. A computer-generated weight for each security in the subset may be determined by dividing the dividend payment for each security by a total dividend payment for all of the securities in the subset. An index fund may be created including the weighted securities.10-30-2008
20080270285SYSTEM AND METHOD FOR AUTOMATIC TRADING OF FOREIGN EXCHANGE CURRENCIES - A method for automatic trading of foreign exchange currencies including the steps of: receiving first signals at an order receiver based on one or more orders for foreign exchange currency trades; sending second signals from an order configuration tool that provides for selection of a preferred execution method for each of the foreign exchange trades using an algorithm; and executing each of the foreign exchange trades based on received third signals relating to a respective determined preferred execution method.10-30-2008
20080270283ELECTRONIC TRADING DATA INTEGRATION AND PROTECTION SYSTEM - A trading system is disclosed which allows an exchange to protect market data from electronic reproduction by traders but allows the traders to use the market data (such as the last traded price, current resting bids and offers) to assist in making the trades. The system includes an exchange server having a database having market data relating to commodities traded over the exchange. A group of trader computers each having a display are coupled to the exchange server. The trader computers have a trader interface run on the computer allowing each trader to place and accept orders for commodities traded over the exchange. The trader interface is capable of receiving market data from the exchange server. An external data source such as an Excel spreadsheet is stored on the trader computer having at least one data field. A trader module is coupled to the trader interface and external data source. The trader module reads market data from the trader interface and the at least one data field of the external data source. The trader module displays the market data and the one data field on the display. The displayed data cannot be exported to the external data source but can be used to make trading decisions and manage orders.10-30-2008
20100094746SYSTEM AND METHOD FOR AGGREGATION OF IMPLIED SHORT TERM INTEREST RATE DERIVATIVES BIDS AND OFFERS - A method and system for facilitating trading of derivatives contracts is provided. The method includes receiving orders, including bids and/or offers, and creating implied orders for matching combinations of outright and strategy orders based on permitted implied patterns.04-15-2010
20100082472INTEGRATION OF OPEN ADVERTISEMENTS WITH E-COMMERCE ACTIVITIES - A method is disclosed for integration of open advertisements with targeted websites, including enabling a seller to place a product on auction through an auction website, wherein an auction server creates an auction listing for the product together with a first software code affiliated with the auction listing; marking the first software code to function with a targeted website in response to the seller requesting an open advertisement of the auction listing; receiving a call of the software code from a targeted website server; generating a second software code with the first software code, wherein the second software code includes a product identification to provide access to the auction server; and sending the second software code to the targeted website server, the second software code configured to create the open advertisement that displays specific information related to the auction listing to be served to an advertisement position of the targeted website.04-01-2010
20100082475Auction market with price improvement mechanism - A system for auctioning financial products over a distributed, networked computer system includes a plurality of workstations for entering orders for financial products into the distributed, networked computer system. The orders specify a price for the financial product, a quantity of the financial product and exposure time which the order can remain active. The system also includes a plurality of workstations for entering predefined relative indication and responses to orders for the product. The predefined relative indications specify a willingness to trade. The responses specify a price and quantity. The system includes a server computer coupled to the workstations for entering the orders, predefined relative indications, and the responses, with the server computer executing a server process that for a first one of said orders, determines a match to said first order with the predefined relative indications, responses and contra-side orders during an interval determined by the exposure time specified by said first order.04-01-2010
20100125519SYSTEM AND METHOD FOR ELECTRONICALLY TRADING DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS - A computerized electronic trading system and method permits a customer using a customer computer to electronically request a market from a dealer using a dealer computer for a financial instrument through a network. The centralized computer system includes one or more computers and at least one message server for communicating electronic messages between the customer computer and the dealer computer, and a database system including at least one storage device, the database system storing at least information related to a plurality of financial instruments and to a trade executed between the customer and dealer. The computerized electronic trading system is programmed with a request for market module programmed with a trade negotiation sub-component to handle the exchange of messages related to the negotiation of trades, and a trade execution module to negotiate pricing for the financial instrument, including an ability to counter a price quote for the financial instrument are transmitted through the computerized electronic trading system, and execute a trade upon agreement between the customer and the dealer on the price quote.05-20-2010
20100100473Collar Indexes and Financial Products Based Thereon - A financial instrument involves creating an underlying asset portfolio and implementing a passive total return “collar” strategy into the financial instrument based on writing a covered call option against that same underlying portfolio for a set period and using the premium from selling this new call option to buy protective put option diagonal spreads such that the long leg of the put option diagonal spread is longer-dated and struck closer to at-the-money than the short leg of the put option diagonal spread. All option positions are held until just prior to expiration of the shorter-dated options, at which time all option positions are closed, a new call option is sold, and the premium from that option is used buy new protective put option diagonal spreads.04-22-2010
20100100472Computer-Implemented Systems and Methods for Blotter Synchronization - Computer-implemented systems and methods are disclosed for synchronizing securities order information between an order management system and liquidity source computer systems. An order management system generates a securities order and communicates it to a blotter synchronization module. The blotter synchronization module communicates with liquidity source computer systems to indicate that the securities order is open for execution, and the liquidity source computer systems may respond to request permission to execute the securities order. The blotter synchronization module determines whether to select one of the liquidity source computer systems to execute the securities order.04-22-2010
20100100471ADAPTIVE BIDDING SCHEME FOR GUARANTEED DELIVERY CONTRACTS - Disclosed are apparatus and methods for providing a bidding mechanism for guaranteed delivery contracts. In one embodiment, a method includes (i) providing a plurality of bid parameters that were updated based on a current delivery and/or a running cost per impression for such guaranteed delivery contract; (ii) if the advertisement impression is eligible to serve the guaranteed delivery contract, determining whether to submit a bid for the advertisement impression for the guaranteed delivery contract based on one or more of the bid parameters; and (iii) if it is determined that a bid is to be submitted for the guaranteed delivery contract, submitting a bid for the advertisement impression for the guaranteed delivery contract so that a bid amount is selected to be limited by one or more of the bid parameters.04-22-2010
20110173115FROM INDIRECT FINANCE TO DIRECT FINANCE DEBT-CLEARING SYSTEM AND METHOD - A from-IDF-to-DF debt-clearing system and method is disclosed. Internet technology is used to construct a direct-finance fund trading platform, whereby a debtor can raise a fund to clear his debts, especially the debts of credit cards and fiduciary loans. After receiving an application of a debtor, the direct-finance fund trading platform analyzes the credit condition and debt-clearing requirement of the debtor and then assigns a bridge loan to the debtor. After delivering the bridge loan, the platform enters into a fund-trading module to bid for the debtor and clears the bridge loan with the obtained fund, and the debtor pays a contribution amount to the platform periodically.07-14-2011
20110173114SYSTEM FOR TRADING COMMODITIES AND THE LIKE - The present invention provides a system for trading commodities and the like. A computer, a communications link between the computer and the Internet, and a database, accessible by the computer are provided. The database includes a plurality of user files. Each of the user files corresponds to a specified user of the system. Each of the user files contains exchange permissions corresponding to exchanges to which the specified user may access. At least one computerized exchange transacts specified commodities executing on the computer accessible by selected users having proper exchange permissions for each exchange. A display is provided for pooling liquidity that permits users to post and view bids and offers and negotiate and consummate transactions on common commodities from one or more groups or exchanges. By such liquidity pooling, the liquidity of transactions of commodities between various exchanges and users is improved.07-14-2011
20110173113METHOD OF TRANSMITTING DATA IN A CENTRAL TRADING SYSTEM - A computerized trading system configured to receive buy and sell trade orders in financial instruments traded in the central trading system from user terminals connected to the central trading system is provided. The user terminals are of at least two types trading in the central system at different off-set spread values and the central trading system further being configured to transmit price information to the at least two types of user terminals. The central system is then configured to transmit a price information message to the at least two types of user terminals in a single message and where the user terminals are configured to display the price information in said price information message including said different off-set spread values. Hereby a reduced number of messages needs to be transmitted in that the user terminals are enabled to convert the single message stream to the correct price information valid for each particular user.07-14-2011
20090089204STOCK ACCOUNT/ORDER/MARKET PRICE INQUIRY SEVICE METHOD USING A MOBILE TERMINAL - Disclosed is a stock account/order/market price inquiry service method using a mobile terminal that is able to perform a stock account/order/market price inquiry service through a mobile terminal using a stock chip. A stock account/order/market price inquiry service method comprising the steps of: (1) displaying a lower menu page on a mobile terminal of the stock account/order service after a PIN authentication; (2) generating an account/order service request message on the basis of stock chip information read from a stock chip and service request information corresponding to the lower menu and then transmitting the same to a relay server; and (3) receiving a service response message corresponding to service request message from the relay server and displaying the same on the screen of a mobile terminal.04-02-2009
20090089198Method and Apparatus for Issue and Trade of Fractional Interest Real Estate Stock - An electronic system—and associated method—for creating, marketing, and selling equity shares, represented by stock in individual real estate parcels is provided. A system and method for providing a liquid market for real estate stock is also provided. The system includes, a central controller, coupled to a network, having a trading system that processes the purchase and sale real estate parcel based stock, an investor interface with which investors communicate with the central controller, and a real estate owner interface with which real estate owners communicate with the server. A real estate owner creates, through the system a real estate stock offering, which is presented to a plurality of investors. Each investor may purchase the stock with a purchase commitment. The investors may later trade the real estate parcel stock via the system.04-02-2009
20090187504NON-TRADITIONAL FUTURES CONTRACT AND ASSOCIATED PROCESSING SYSTEMS - A computer implemented method and system is disclosed for trading a non-traditional futures contract representative of a price of an individual underlying commodity and/or an option on such a contract. The method and system comprises receiving a request from a customer to establish a position in the non-traditional futures contract of an individual underlying commodity. A contract price of the non-traditional futures contract is determined based on the current market price of the individual underlying commodity. The system and method determine whether available funds within an account corresponding to the customer exceed a predetermined amount. The non-traditional futures contract for the individual underlying commodity is established without any obligation to deliver or receive the commodity. The difference between the contract price and the market price of the individual underlying commodity at the expiration of the contract is calculated and the customer's account is settled based on the difference between the contract price and the market price of the individual underlying commodity at the expiration of the contract.07-23-2009
20090276353System and Method for Displaying Profit Related Information in an Electronic Trading Environment - A system and method for displaying a plurality of profit and risk related indicators are described. A graphical interface displays and dynamically updates a plurality of profit/loss (P/L) indicators including a realized, net, and open indicator. The net and open indicators are based on a trader's net position and a current market level, while the realized indicator is based on trader's buys and sells associated with a tradeable objects. In one embodiment, the plurality of indicators are displayed in relation to a plurality of money management regions defining a maximum order quantity and a maximum net position controlling the trader's trades, so that a trader can quickly determine his current as well as potential money management parameters. The graphical interface may also display a plurality of potential risk/gain indicators in relation to a realized profit indicator so that a trader, before entering an order having a predetermined order quantity, can view a potential risk/gain in entering into a predetermined net position in view of potential market movements.11-05-2009
20090281940MICROBIAL ESTATES FOR THE EFFICIENT DEVELOPMENT AND MANAGEMENT OF BIOGENIC FUEL RESOURCES - A method of transferring an interest in microbial rights associated with a parcel of land. The method includes recognizing a microbial estate that includes the microbial rights, where ownership interests in the microbial estate are separately transferable from other estates associated with the parcel of land, and transferring one or more of the microbial rights of the microbial estate to a party that is not in possession or ownership of the microbial estate. Also, a method of searching interests in a microbial estate, where the method may include identifying a location for a parcel of land associated with the microbial estate, searching records associated with the identified parcel of land, and identifying in the records a name of one or more parties having an interest in the microbial estate. Methods of auctioning a microbial right in microbial property are also described.11-12-2009
20120296801AUTOMATED TRACKING AND REPORTING OF TRADER POSITIONS - A data collection application includes a collection document having a first code portion configured to format the document, at least one information input configured to receive an input wherein the at least one information input is defined by the first code portion, and a second code portion stored within the collection document and configured to include the information provided via the at least one information input. The data collection document further includes an archival routine configured to create a second collection document based on the second code portion and the information provided via the at least one information input.11-22-2012
20090287596Method, System, and Apparatus for Facilitating Transactions Between Sellers and Buyers for Travel Related Services - A method and system for facilitating transactions between sellers and buyers for travel related services. The system includes a database which stores data associated with a plurality of sellers, and a server operably coupled to the database. A buyer interacts with the server to define and submit a request for one or more travel related services. The system uses matching logic to analyze the database to select a set of sellers whose services and other associated data best match the request, and invites the set of sellers to submit offers corresponding to the request. The system communicates offers received by the set of sellers to the buyer and facilitates communications and transactions between the sellers and the buyer.11-19-2009
20090089203Marriage Obligation Fulfillment Trust Method and System - By creating a self-determined interest rate platform, a trust fund can be transferred on the platform through a bidding process, so that risk oriented consigners can expand their credit to increase their investments, enhancing assurance to a beneficiary. On the contrary, this can increase interest income of discreet consigners through direct low-cost financial transactions. By creating a trust fund transaction platform, individual consignment funds can reflect the cash demand in the money market on the platform, so that the number of participants can increase the strength of marriage trusts and expand the trust fund market.04-02-2009
20090089202ALGORITHMIC ORDER MANAGEMENT TOOL FOR TRADING FINANCIAL INSTRUMENTS - A method and an apparatus which provides a programmatic framework that can be used to rapidly build and deploy custom trading algorithms that are used for automated algorithmic handling of orders in the context of electronic trading of financial instruments are provided. The algorithmic trading framework can be fully integrated with an existing order management system.04-02-2009
20090089201Systems and Methods for an Online Credit Derivative Trading System - A credit derivative trading system comprises a credit derivative authority configured to receive defined positions for credit derivatives and update a plurality of trade clients in real-time whenever there is movement in the market for a particular credit derivative.04-02-2009
20100228661METHOD AND APPARATUS FOR EXCHANGE-BASED CONDITION PROCESSING - Various embodiments of exchanges are described. Methods and other embodiments are also described.09-09-2010
20100228662Flexible System and Method for Electronic Trading - System, method, and program products offer flexibility to the rather rigid way of trading in an electronic trading system. Orders for a tradeable object may typically get matched according to set terms and/or conditions at an electronic exchange. A trader may log onto the electronic exchange to trade the tradeable object, and may choose to display and trade the tradeable object according to a different set of terms and/or conditions. As such, the market data sent to the trader from the exchange is converted to a format according to the trader's selection, so that it may be presented to the trader in this format. Transaction messages sent to the exchange from the trader are converted to the format readable by the matching process, so that it can process the messages. Other features and advantages are described herein.09-09-2010
20080208731Methods and computer program products for auctioning on-line advertisements based on Internet search term query origination location - In some methods for auctioning on-line advertisement placement services, an on-line advertisement placement service is offered based on at least one search term and based on at least one geographic area where the at least one search term will originate. Monetary bids are received from entities responsive to the offer of on-line advertisement placement service. In response to the monetary bids, the on-line advertisement placement service for the at least one search term originating from the at least one geographic area is awarded to a selected one or more of the entities.08-28-2008
20080208733System and method for auctioning services over an information exchange network - The present invention is directed to an improved system and method for auctioning services, which overcomes some of the drawbacks in the prior art systems and methods. In accordance with one aspect of the present invention, buyers request and specify at the start of the auction the number of lowest bids the buyers would like to see. By requesting to see more bids, the buyers would have greater opportunity to evaluate service providers based on factors other than price, thereby encouraging less price competition among providers. By requesting to see fewer bids, the buyers would have less opportunity to evaluate service providers based on factors other than price, thereby encouraging fierce price competition. The number of bids requested by the Buyer is made known to the bidders. The net effect is that the buyers can control the price/quality tradeoff at the onset of the auction process, and encourage the bidders to provide their lowest bids when pricing is important. This lets the buyers make their final decision based on factors in addition to price, at the lowest price possible.08-28-2008
20100287088MARKET PARTICIPANT ISSUE SELECTION SYSTEM AND METHOD - A system and method of allocating rights for quoting issues on a trading facility such as an exchange is described. The method may include providing market participants such as remote market makers with a listing of issues available for remote quote streaming where the available issues are ranked according to predetermined trading parameters. A market participant requests allocations of rights to certain issues and the request is filtered according to a value associated with the ranking of the selected issues. The system includes an issue selection database having a listing of issues available for trading where each issue is ranked based on a trading parameter. An issue selection communication module communicates with the issue selection database and is configured to list available issues and rankings. An issue allocation filter receives a market participant request and compares the selected issues in that request to one or more exchange-based rules.11-11-2010
20100100475Match Server For A Financial Exchange Having Fault Tolerant Operation - Fault tolerant operation is disclosed for a primary match server of a financial exchange using an active copy-cat instance, a.k.a. backup match server, that mirrors operations in the primary match server, but only after those operations have successfully completed in the primary match server. Fault tolerant logic monitors inputs and outputs of the primary match server and gates those inputs to the backup match server once a given input has been processed. The outputs of the backup match server are then compared with the outputs of the primary match server to ensure correct operation. The disclosed embodiments further relate to fault tolerant failover mechanism allowing the backup match server to take over for the primary match server in a fault situation wherein the primary and backup match servers are loosely coupled, i.e. they need not be aware that they are operating in a fault tolerant environment. As such, the primary match server need not be specifically designed or programmed to interact with the fault tolerant mechanisms. Instead, the primary match server need only be designed to adhere to specific basic operating guidelines and shut itself down when it cannot do so. By externally controlling the ability of the primary match server to successfully adhere to its operating guidelines, the fault tolerant mechanisms of the disclosed embodiments can recognize error conditions and easily failover from the primary match server to the backup match server.04-22-2010
20090276351SCALEABLE SYSTEM AND METHOD FOR DISTRIBUTED PREDICTION MARKETS - Systems, methods, and software are disclosed to implement distributed prediction markets over the internet. A central platform executes web application software to host prediction markets (FIG. 11-05-2009
20090281939INDEX FOR FIXED INCOME SECURITIES MARKET - An index for a fixed income securities market may be determined based on price information regarding current activity taking place on one or more securities.11-12-2009
20080243666Transaction Management System and Method - A transaction management system manages the purchase of products and/or services by buyers from sellers, the system comprising: a data store for storing seller data. Said data comprises, for each of a plurality of sellers, a seller identifier and seller offer data indicating at least one product or service offered for sale; a program store storing processor implementable instructions; and a processor coupled to the data store and to the program store for implementing the stored instructions. Wherein the stored instructions comprise instructions for controlling the processor to implement a buyer interface to receive a purchase request from a buyer based on the seller offer data, thereby creating a transaction, the stored instructions further comprising instructions for controlling the processor to implement an investment interface to receive investment data from an investor, the investment data including a plurality of investment criteria for an investment fund, thereby creating the investment fund; and provide the investment data to buyers and sellers able to meet the plurality of investment criteria for the investment fund.10-02-2008
20090287597Method and System for Auctioning Bad Debts - A method and system for auctioning bad debts utilizing a sorting arrangement based on the geographic location where jurisdiction is present over the debtor. Clients in the public may remotely access and participate in an online auction forum for the purpose of buying bad debts. Bad debts may be classified into a designated location bidding site database that relates to a particular geographic location. A designated location bidding site that that is related to the same geographic location as that of the database may rotatively display bad debts for buyers wishing to view or bid on them. In this manner, creditors may sell bad debts they own by being able to easily and more effectively, locate buyers who are situated in or near a territorial location that has jurisdiction over the debtor.11-19-2009
20090287595Dealer to Dealer Sales Lead System and Method - A system and method of creating a market for sales leads and financing amongst merchants of like wares that includes a central registry for receiving information about prospective buyers and their finances for compiling and communicating an anonymous sales lead including the prospective buyer's finances to merchants in the same line of business. The leads are auctioned or sold anonymously to interested merchants that receive the contact information for the prospective buyer but not the identity of the initial merchant.11-19-2009
20090299893METHOD AND SYSTEM FOR PROVIDING OPTION SPREAD INDICATIVE QUOTES - A computer network and method for electronically trading combinations of derivatives. One preferred method of trading includes providing quotes information to a central server, and determining indicative quotes for combination trades, and providing the non-binding, indicative quotes to market participants (which typically includes subscribers, but may also include market makers). A participant may then submit an e-RFQ, which is a request for a binding quote for the combination of derivatives. Market Makers may then elect to submit a binding quote for the corresponding derivative combination. Market participants may then elect to enter a binding order.12-03-2009
20090313162Utilizing Cash Flow Contracts and Physical Collateral for Energy-Related Clearing and Credit Enhancement Platforms - In accordance with the present invention, a financial instrument for the energy market is created. The financial instrument comprises a derivative instrument related to accounts receivable or accounts payable or both. In a preferred embodiment, the derivative instrument normally consists of two sets of linked swaps. In the first set, the seller exchanges two things with a third party: (i) the right for payment of accounts receivable within a month from the buyer is exchanged for the right to payment of such accounts receivable within a week from the third party; and (ii) the obligation to deliver energy to the buyer is exchanged for the obligation to deliver to the third party. The buyer exchanges the mirror image of those with a third party, to with: (i) the obligation to pay within a month to the seller is exchanged for the obligation to pay within a week to the third party, but the buyer receives financing to offset the cash flow ramifications; and (ii) the obligation to take delivery from the seller is exchanged with the obligation to take delivery from the third party. The swap can further be utilized to net payment obligations under multiple cash and forward commodity transactions between the buyer and the seller. Physical collateral is utilized as margin. In accordance with another aspect of the present invention, the process takes place on a ‘clearing platform’ for such energy transactions.12-17-2009
20080275809ON-SCREEN PRICE LOCK FOR ELECTRONIC TRADING - A system and method of providing an on screen window having a price held for further transactions on an interface for traders of financial instruments. The interface contains a display of products for trading and respective prices for bids and offers. Selection of a particular product results in the display of the price of the product at the instant time the product is selected. The price is held until a confirming key or mouse stroke is received to initiate a trading action such as placing a new order, killing an existing order or hitting or lifting an order. The trading action is allowed only if the displayed locked price matches the current price thus preventing actions when the underlying price has changed in between the selection and initiation of the trading action.11-06-2008
20080275810MARKET DEPOSITORY FOR ENVIRONMENTALLY RELEVANT ITEMS - In embodiments, the present invention provides methods and systems for facilitating exchange of rights associated with environmentally relevant items. The method and systems may include identifying a first environmentally relevant item, identifying a second environmentally relevant item, and providing a single depository for the environmentally relevant items.11-06-2008
20080275806EVENT TRIGGERED TRADING - Networks, systems and methods for event triggered trading of investment vehicles are disclosed. Orders that are conditioned upon events occurring outside a market may be submitted to an exchange. The conditional orders may be held or stored until the occurrence or non-occurrence of the event. An event data feed is provided to provide information identifying the occurrence or non-occurrence of the event. In response to receiving information via the data feed identifying the event, the orders conditioned upon the event will be triggered, matched, and executed.11-06-2008
20120143744SYSTEM, METHOD, AND COMPUTER PROGRAM PRODUCT FOR MANAGING SECURITIES FUNDED BY A MUNICIPAL ARBITRAGE PORTFOLIO (MAP) - A system, method, and computer program product for managing securities funded by a municipal arbitrage portfolio (MAP) are set forth herein. A computer receives a daily valuation of a portfolio of securities from an administrator of a special purpose trust (SPT) the portfolio having been issued by the SPT. The portfolio being funded in part by equity from the MAP fund, the MAP fund being an entity subject to securities regulation oversight, the assets of the MAP fund being managed by a fund manager, and the portfolio provides a first series of payments to the MAP fund, the MAP fund having entered into a security agreement with a liquidity provider (LP). A computer verifies the daily valuation of the portfolio. A computer calculates a daily ending net asset value (NAV) of the MAP fund, where the MAP fund holdings include at least the portfolio.06-07-2012
20120143743SYSTEMS AND METHODS FOR IMPLEMENTING POST-MATCHING TRADING - Systems and methods for implementing post-matching trading are provided. A financial instrument transaction system may include a database configured to store financial instrument information for reference entities; a memory for storing execution instructions; and a processor. The processor may execute the instructions. The processor may initiate a trading session for a predetermined duration. Prior to and during the trading session, the processor may receive from a plurality of trader clients trading instructions associated with the reference entity. The instructions may include either a buy or sell position and a price. At the end of the trading session, the processor may determine, based on predefined criteria, whether the trading session qualifies for a post-matching session. If the trading session qualifies for a post-matching session, the processor may provide a graphical user interface to a selected group of traders for trading in the post-matching session.06-07-2012
20120143742ALTERNATIVE TRADING SCORECARD APPARATUSES, METHODS, AND SYSTEMS - A processor-implemented method for transforming transaction data and market feed data into trade metrics. The method includes executing a transaction for a financial instrument on a trading network using a server having a processor and interfacing with a database, receiving market data, regarding the financial instrument from a public exchange data source, determining a mark price for the financial instrument, calculating a trade metric for the executed transaction using an executed price for the transaction and the mark price, and storing the trade metric in the database. Trade metric data for a client may then be aggregated and used to categorize the client into one of a plurality of trading pools and to limit access to certain trading pools based on the categorization of the client.06-07-2012
20120143740SYSTEMS AND METHODS FOR TRADING INFORMED TRADING METRIC-BASED DERIVATIVE CONTRACTS - A system and related method for hedging risks associated with a market level of informed trading are disclosed. The system includes a network interface for receiving a data feed that includes informed trading metric data. The system also has a server for electronically publishing the informed trading metric data. A second network interface receives requests to purchase informed trading metric-based derivative contracts at a first price and offers to sell informed trading metric-based derivative contracts at a second price. A matching server matches the received requests with the received offers. A settlement processor settles the derivative contracts based on informed trading metric data received by the network interface.06-07-2012
20120143739SYSTEMS AND METHODS FOR CALCULATING AN INFORMED TRADING METRIC AND APPLICATIONS THEREOF - Systems and computerized methods for calculating and using an informed trading metric are disclosed. The process of calculating the informed trading metric, executed by a processor, includes analyzing sets of trades of the security. The processor determines a magnitude of a difference between a volume of buy transactions and the volume of sell transactions in the plurality of trades. The processor then derives the informed trading metric based on the ratio of the determined difference magnitude to the total volume of analyzed trades. The derived informed trading metric may be employed by various systems to, among other things, hedge against market volatility, control securities exchange behavior, evaluate trader performance, and control the timing of trade execution by a broker dealer.06-07-2012
20100114755AUTOMATED TRADING SYSTEMS - In an electronic trading system, prime brokerage services may be provided by assigning one or more dependent or child deal codes to a deal code. Prime broker trades are conducted via the dependent deal codes but appear to the market as deals with the parent deal code using credit assigned to the parent deal code. The prime bank customer is a dependent deal code of the customer bank which also trades on the system, allowing credit to be allocated by the customer dependent code for prime broker trades. A deal code may have several dependent deal codes which can trade with one another. Dependent deal codes can be used to expand the size of trading floors beyond that which can be supported by a single deal code and to assist in migration between system versions.05-06-2010
20090313160Hardware accelerated exchange order routing appliance - A system for processing a trading order message comprises a hardware device logically linked to a general purpose processor. The hardware device comprises multiple exchange line handlers each of which is associated with a market exchange, multiple parsing modules each of which is associated with one of the exchange line handlers, and a message router that receives the message from the general purpose processor, determines a particular market exchange to which the message is directed, and communicates the message to a particular one of the parsing modules that is associated with a particular one of the exchange line handlers that is associated with the particular market exchange. The particular one of the parsing modules transforms the message into a protocol specified by the particular market exchange and communicates the transformed message to the particular one of the exchange line handlers for communication to the particular market exchange.12-17-2009
20100138334EXCHANGE ORDER PRIORITY RETENTION FOR ELECTRONIC TRADING USING AUTOMATIC BOOK UPDATES - The present invention involves providing a computer based platform for allowing a user to establish a target trading book; evaluating the user's unmatched exchange trades to determine an actual trading book at a point in time; determining a differential between the target trading book and the actual trading book; and identifying at least one exchange trade action to transition from the actual trading book to the target trading book, wherein the exchange trade action is based on preserving at least one unmatched order with the oldest possible entry time stamp.06-03-2010
20080243670SYSTEMS AND METHODS FOR PROCESSING AND TRANSMITTING TEST ORDERS - In various embodiments, test trading orders are generated, transmitted and ranked.10-02-2008
20080249924SYSTEM AND METHOD FOR OPTIMIZING THE BROKER SELECTION PROCESS TO MINIMIZE TOTAL EXECUTION COST OF SECURITIES TRADES - An embodiment of the present invention provides a system and method for minimizing the total expected execution cost of securities trades through a real-time analysis and optimization process incorporating: (1) the currently offered share price and liquidity in the securities markets; (2) execution costs as input in real-time by executing brokers; (3) expected price improvement based on current and recent trading data; (4) time required to execute an order by an executing broker; and (5) the current rate of change in the share price of a security during the time required to execute the transaction. Based on these factors, the invention ranks, in dollars and cents per shares, brokers from lowest to highest expected total execution cost. The initiating party to the securities transaction can route the order(s) to the executing brokers with the lowest expected total execution costs to minimize the total execution cost.10-09-2008
20080249920FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM - The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. The Fuel Offer Generator employs a geographical fuel pump location metric as well as consumer redemption to establish the pricing of fuel offerings.10-09-2008
20080249922FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM - The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. While the Fuel Offer Generator may place various constraints on redemption, it will employ various consumer behavior metrics to establish the pricing of fuel offerings.10-09-2008
20080249917FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM - The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. While the Fuel Offer Generator may place various constraints on redemption, it will determine which metrics are relevant to pricing the fuel offering and then employ those determined metrics to establish the pricing of fuel offerings.10-09-2008
20080249915SECURE, OBJECTIVE ONLINE EXCHANGE, CONFIRMATION AND EVALUATION METHODS - The present invention provides a method for facilitating a trade between a buyer and a seller of a product, the seller offering a product for sale at a predetermined price; the buyer purchasing the product; determining buyer's sufficient currency status or insufficient currency status. If the buyers account has a sufficient currency status, holding monies in an amount equal to the predetermined price are transferred into a holding account; requiring the seller to verify the date of receipt of the monies; requesting the seller to verify the shipping status of the product within a shipping confirmation response time frame; requesting the buyer to verify the receipt status of the product within a receipt confirmation response time frame; and assigning a conduct value to the buyer and seller.10-09-2008
20080249914Fixed-Reference Money System Based on Electrical Capacity - A financial and computer system for conducting commerce using electricity-backed certificates, comprising: a physical certificate or electronic representation thereof having a face value and denominated in units of electricity representing a specified amount of electricity to be provided to a user thereof, wherein said certificate has an indefinite lifetime, identifies an issuer and has a signature for verifying authenticity; wherein said certificate circulates to purchase general items of commerce; wherein any certificate holder may tender it to the issuer as payment for said specified amount of electricity; and wherein said specified amount of electricity is provided to a user thereof, which electricity is paid for by the issuer in redemption of said tendered certificate.10-09-2008
20080249921FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM - The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. The Fuel Offer Generator allows for the management of regional fuel price offerings and allows for fuel offering redemption based on fuel pump prices.10-09-2008
20080249919FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM - The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. The Fuel Offer Generator employs a geographical fuel pump location metric as well as consumer purchasing behavior to establish the pricing of fuel offerings.10-09-2008
20080249918FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM - The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. The Fuel Offer Generator employs a national average fuel price metric as well as consumer behavior to establish the pricing of fuel offerings.10-09-2008
20080249916FUEL OFFERING AND PURCHASE MANAGEMENT SYSTEM - The present disclosure is directed towards apparatuses, systems and methods to facilitate the pricing, sales and delivery of a commodity fuel to a Customer. In one embodiment, the disclosure teaches a Fuel Offer Generator that facilitates the purchase and management of fuel offerings. The Fuel Offer Generator allows Customers interested in securing fuel to obtain an offer for fuel at lock-in prices for various tenors. Fuel Customers can buy these fuel offers such that they may later exercise the fuel offers so their fuel costs are locked-in at desired levels (e.g., they may be set to strike prices). The Fuel Offer Generator also can establish a Premium Price that will be part of the fuel offer. The Fuel Offer Generator may generate hedges to counteract fuel related risks stemming from fuel offer purchases. Ultimately, a customer that purchases a fuel offering can exercise their fuel offering order at a specified price and redeem any difference between the market price for their purchased fuel and the price specified in their fuel offering order. The Fuel Offer Generator determines which metrics are relevant to pricing the fuel offering and then employs those determined metrics to establish the pricing of fuel offerings.10-09-2008
20100138333ELECTRONIC TRADING SYSTEM - An anonymous trading system comprises one or more matching engines, one or more market distributors and one or more trader terminals for input of orders from institutions trading on the system. The trader terminals are connected to the system through bank nodes. A broker terminal is connected through a bank node and enables voice brokers to trade on the system on behalf of client traders. The voice brokers terminal can be configured for any client trader and will display the market view for that trader. Trades in which the broker terminal participates are not concluded until a manual credit check has been performed.06-03-2010
20090055305Systems and Methods for Market Order Volume Clearing in Online Trading of Credit Derivatives - Systems and methods for market order volume clearing in online trading of credit derivatives are disclosed. In one embodiment, a method for market order volume clearing may comprise: selecting, from a plurality of credit derivatives, at least one most liquid credit derivative; determining a volume clearing price level for the selected credit derivative; inviting trading clients of the electronic trading system to submit, within a time limit, buy orders and sell orders for the selected credit derivative at the volume clearing price level, each buy order or sell order specifying a desired volume; matching the buy orders and the sell orders submitted within the time limit to maximize a total notional amount of the selected credit derivative that can be traded at the volume clearing price level; and completing trades at the volume clearing price level according to the matching of orders.02-26-2009
20100274702Console, System and Method for Providing an Interface to a Financial Market Trading System or to a Financial Market Based Gaming System - The present invention is a console, system and method for providing an interface to a financial market trading system or to a financial market based gaming system. The invention enables the trader to trade on financial markets using an interface simulating known and popular games from the world of sports, arcade, games of chance, strategic games and the like.10-28-2010
20080270291Customer access solutions architecture - The present invention provides systems and methods for electronically delivering banking services to end clients and, more particularly, using Internet based technologies as a means of exposing those services. The solution to this problem set forth in this invention is the creation of a common electronic delivery infrastructure and application deployment environment, exposing an institution's entire portfolio of corporate banking services to its clients at a number of different locations at any time.10-30-2008
20080228631BUNDLING METHOD AND SYSTEM FOR CREDITS OF AN ENVIRONMENTAL COMMODITIES EXCHANGE - Some embodiments perform buyer bundling to permit a buyer the ability to purchase only a portion or percentage of a credit by bundling several buyers into “buyer blocks”. Each buyer within a buyer block desires to offset its polluting activities, where the polluting activities of each buyer equates to only a fraction of the total pollution offsetting afforded by a single credit. In some such embodiments, the aggregate of all buyers in the buyer block exhausts the full pollution offsetting potential of the credit. Moreover, the cost for purchasing the credit is distributed amongst the buyers of the buyer block in proportion to their desired participation in the purchase of the credit.09-18-2008
20080228629SYSTEM AND METHOD FOR VALUATING ITEMS AS TRADABLE ENVIRONMENTAL COMMODITIES - Some embodiments qualify an item and a protocol associated with the item by determining an amount of environmental conservation that is related to the actual use or implementation of the item by a registrant. Some embodiments quantify the environmental conservation of an item by determining an amount of emissions reduction, energy savings, hazardous wastes or materials that are properly disposed of, or generated renewable energy associated from the qualified environmental conservation of the item. Some embodiments then valuate the quantified environmental conservation to issue a tradable credit.09-18-2008
20080228630SYSTEM AND METHOD FOR VALUATING ITEMS AS TRADABLE ENVIRONMENTAL COMMODITIES - Some embodiments qualify an item and a protocol associated with the item by determining an amount of environmental conservation that is related to the actual use or implementation of the item by a registrant. Some embodiments quantify the environmental conservation of an item by determining an amount of emissions reduction, energy savings, hazardous wastes or materials that are properly disposed of, or generated renewable energy associated from the qualified environmental conservation of the item. Some embodiments then valuate the quantified environmental conservation to issue a tradable credit.09-18-2008
20080228628REGISTRATION METHOD AND SYSTEM FOR AN ENVIRONMENTAL COMMODITIES EXCHANGE - Some embodiments provide a method of registering various types of environmental conservation items such as products, projects, or technologies with sets of environmental conservation properties through an electronic interface. In some embodiments, the electronic interface allows registrants the ability to register an environmental conservation item using only a minimal set of identification data, where the identification data includes at least one parameter for identifying the item. The electronic interface facilitates the registration of the item by associating the set of environmental conservation properties to the item.09-18-2008
20080228619APPARATUS, SYSTEM, AND METHOD FOR ALLOCATING SERVICE REQUESTS - An apparatus, system, and method are disclosed for allocating service requests. A category module categorizes a service request for an information technology support service with a service category. The service request comprises a service requirement. An I/O module communicates the service request to a plurality of providers that are certified to provide the service category and receives bids from the providers. A selection module selects a bid according to a selection policy. A history module may store a history of bid prices and response times.09-18-2008
20080228616System And Method For Providing An Operator Interface For A Radar Display Of Market Data - A system for providing an operator interface having a radar display comprises a memory and a processor. The memory stores trader designated requirements. The processor generates a radar display comprising a trader requirements block that corresponds to the trader designated requirements. The processor receives market data and performs the following for each trader designated requirement: determines a probability of the market data satisfying a trader designated requirement, and displays a market data circle on the radar display, where a distance between the market data circle and the trader requirements block indicates the probability.09-18-2008
20100082473HYBRID TRADING SYSTEM FOR CONCURRENTLY TRADING SECURITIES OR DERIVATIVES THROUGH BOTH ELECTRONIC AND OPEN-OUTCRY TRADING MECHANISMS - A system and method of allocating orders in an exchange configured for trading by a combination of electronic and open-outcry trading mechanisms is provided. One method includes permitting multiple quotes to be disseminated to the market, but limiting market making to only those entities having a physical presence on the floor of the exchange. Methods of enhancing the hybrid electronic and open-outcry exchange also include automatically eliminating crossed quotes and locked quotes while permitting certain orders to trade against locked quotes.04-01-2010
20080288391METHOD AND SYSTEM FOR AUTOMATICALLY INPUTTING, MONITORING AND TRADING SPREADS - A method and system for providing dynamic display of electronic trading information for trading spreads. The method and system allow spreads to be automatically inputted, executed and monitored on one or more trading exchanges. The method and system also allows inputting and monitoring of the spreads from one or more graphical windows on a graphical user interface. The method and system provide automatic generation of one or more legs of an automatic spread and automatic readjustment of desired market limit prices using one or more pre-determined spread trading factors and market depth information to maintain the desired price differential for the automatic spread.11-20-2008
20080288389SYSTEMS AND METHODS FOR PROVIDING EMBEDDED RECEIVER NOTES - Systems and methods are provided for providing an embedded receiver note which includes a swaption embedded in a bond. If a reference rate exceeds a strike rate of the swaption, a note holder receives a par value of the note. If the reference rate is lower than the strike rate of the swaption, the note is extended with an exercised swaption.11-20-2008
20090265266METHODS OF PRICING AND ALLOCATING CAPACITY - A method of assigning a settled unit capacity price for the purchase of transmission capacity by resource suppliers including the steps of specifying an available capacity for bidding, receiving bids from a plurality of resource suppliers, selecting the bids with the highest personal unit capacity prices until the aggregate desired capacity of the selected bids at least equals the available capacity or until all the bids have been selected if the aggregate desired capacity does not at least equal the available capacity, and assigning the settled unit capacity price to be a function of the personal unit capacity prices submitted in the selected bids. In some examples, the method includes allocating transmission capacity to resource suppliers. In some examples, the method includes assigning a settled net unit capacity price for each of different term durations and allocating transmission capacity to resource suppliers.10-22-2009
20090265264Request for Market Stream - Systems and methods are provided to implement request for stream functionality (RFS) into the trading environment. A request for stream may be submitted to determine liquidity of a particular financial instrument of interest to a customer. In response to a request for stream, quotes may be submitted by market markers within a predetermined amount of time. In an embodiment, a customer may determine which market makers receive the request for stream. The financial instruments may include Euro denominated interest rate swaps, U.S. denominated interest rate swaps, or OIS interest rate swaps.10-22-2009
20090265263APPARATUS, SYSTEM, AND METHOD FOR CONCURRENTLY TRADING SECURITIES VIA MULTIPLE STRATEGIES - An apparatus, system, and method are disclosed for trading securities. Trading software 10-22-2009
20080313072SYSTEM AND METHOD FOR BIDDING ON CONTINGENCY-BASED MATTERS - A system comprises a web server for posting matters of clients for bidding by contingency professionals, e.g., contingency lawyers and/or judgment collectors; a client matter engine for enabling a particular client to post a particular matter and to select a particular contingency professional bidding on the particular matter to handle the particular matter; a professional bidding engine for enabling the particular contingency professional to review at least a portion of the posted matters and to bid on the particular matter; and a bidding exchange engine for enabling the particular client and the particular contingency professional to communicate without exchanging direct contact information.12-18-2008
20080313071SYSTEMS AND METHODS FOR PROVIDING INVESTMENT OPPORTUNITIES - An online trading competition is provided in which a group of traders are associated with teams and allocated an amount of money to be invested. Trade instructions are received from the traders, and based on the instructions, performance metrics are calculated for each of the traders. Each trader is rated according to the performance metrics, and points are awarded points to some of the traders based on their respective rankings for each performance metric. A winning team is then selected for the online trading competition based on total points awarded to each trader.12-18-2008
20080313069DISTRIBUTED REVERSE AUCTION - A distributed reverse auction allows an auction to end when a dealer is first in time to accept a bid. A purchaser creates an account that relates to a specified purchase. The purchaser places bids at different dealers using the created account. The first dealer to accept the bid draws the agreed upon amount of money from the account. The other bids are cancelled and thus the dealer to act first in time engages in the sale.12-18-2008
20080243669TEST TRADING - Disclosed are systems and methods for placing and processing test orders and real orders.10-02-2008
20120296794Systems and Methods for Auctioning Charging Times for Electric Vehicles - Systems and methods are provided for auctioning charging times for electric vehicles at one or more charging stations. The systems and methods may include delivering, to a customer computing device associated with a customer, auction information regarding an auction for at least one time slot of a charging station for an electric vehicle; receiving, from the customer computing device, a bid amount for the auction; and delivering a notification to the customer computing device if the received bid amount is accepted as a winning bid amount for the auction.11-22-2012
20120296793Rate-negotiated, standardized-coupon financial instrument and method of trading - In accordance with the principles of the present invention, a rate-negotiated, standardized-coupon financial instrument and method of trading are provided. A coupon is negotiated between two parties. At least one forward curve and a discount curve are implied or approximated to be consistent with the negotiated coupon. A consistent value for a swap with a different coupon is determined. The consistent value can comprise the net present value (NPV) of the interest rate swap written as the difference between the present values of two interest payment legs. In the case of a vanilla swap the two legs correspond to fixed coupon payments and floating coupon payments. In the case of a basis swap, one leg is the floating coupon payments with a reference rate plus a fixed coupon, and the other leg is floating coupon payments with a different reference rate. The rate-negotiated, standardized-coupon financial instrument of the present invention provides for a financial instrument negotiated in rate terms to be substituted with an equivalent position in an instrument with a different coupon rate, at an adjusted price.11-22-2012
20120296797METHOD AND ARRANGEMENT FOR PRE-MATCH RISK VALIDATION OF ORDERS IN AN AUTOMATED EXCHANGE - In an automated exchange, comprising a matching module, a received order is validated for risk purposes before a match process begins. Hereby it is made possible to reduce the total financial exposure by a customer to the automated exchange.11-22-2012
20120296802Standardization and Management of Over-the-Counter Financial Instruments - A method of managing over-the-counter financial products is disclosed. The method includes receiving transaction parameters associated with an over-the-counter financial product, determining a standardized financial product that reflects the transaction parameters associated with the over-the-counter financial product; calculating a net position based on the difference between the standardized financial product and the over-the-counter financial product, and clearing the net position through a clearing party.11-22-2012
20080228633Trading system and methods - The present invention is directed to a system and method that facilitates the more fully informed and efficient trading of items of value, including securities. According to the present invention, certain embodiments permit a customer to determine the merits of and to execute a trade from a single screen. One embodiment of the present invention provides a single option chain trading screen enabling a customer to view a matrix of all available options for a given security, including the various strike prices, expiration dates, and whether they are calls or puts. Another embodiment provides a customer with a single option chain trading screen allowing a customer to “hover” at or near various icons to obtain supplemental information without leaving the trading screen, and use a triple-action selection component to ultimately execute a trade.09-18-2008
20080249923Exchange offer for securities - An exchange offer for securities where the exchange ratio is determined at or shortly after the end of the initial tender period. The exchange ratio can be determined based on a formula using trading data (and/or other variables) for the involved or other securities over a look-back period that covers the end or final portion of the tender period.10-09-2008
20120296803System and Method for Smart Hedging in an Electronic Trading Environment - A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.11-22-2012
20120296800GLOBAL FOREIGN EXCHANGE SYSTEM - A computerized trading system permits global currency trading. The system preferably includes multiple affiliates at the local level, each in a different country, that act as introducing agents. Between these local affiliates there is a global exchange or hub, with the local affiliates and the global hub being arranged in a hub-and-spoke arrangement. Introducing affiliates are responsible for handling customer accounts and information, and accepting orders. The global exchange is responsible for routing orders to one or more multiple foreign exchange liquidity banks to handle foreign exchange transactions to convert one currency into another.11-22-2012
20120296799SYSTEM, METHOD AND COMPUTER PROGRAM FOR ENERGY USE MANAGEMENT AND REDUCTION - The present invention provides a system, method and computer program for energy use management and reduction. The invention enables managing and reducing energy usage by monitoring energy usage of users and rewarding users for reducing energy usage. It includes monitoring energy consumption for users. Any reduction in energy consumption is commoditized. The commoditized energy can be sold on a market. Some or all of the revenues realized from the sale may be distributed to the users as encouragement to further reduce energy usage.11-22-2012
20120296798Flexible-rate, financial option and method of trading - A flexible-rate option and method of electronic trading are provided. The flexible-rate option includes a negotiable premium and a corresponding rate-based strike rate. At least one discount curve, and potentially also a forward curve are determined An adjustment factor for the financial instrument is determined. The curve or curves are used to determine the adjustment factor to determine the adjusted exercise price of an underlying with a standardized coupon as the present value difference between the delivered financial instrument with a fixed rate and a swap with the strike rate, at or near the time of option exercise. This Abstract is submitted with the understanding that it will not be used to interpret or limit the scope or meaning of the claims.11-22-2012
20120296795METHODS AND SYSTEMS FOR MATCHING BUY AND SELL ORDERS - Methods and systems for matching buy and sell orders that maximize the number of shares matched while simultaneously providing an even allocation of shares regardless of when a given order is received, are provided herein. The methods and system utilize an optimization function to determine the optimized price point at which the maximum number of shares can be matched using such inputs as a set of buy and sell orders, market spread, and participant defined exclusion criteria. This optimized price point may then be used to select those buy and sell orders eligible for participation in the matching event. Shares are then evenly allocated between participants using, for example, a round-lot base allocation procedure. The methods and systems may also utilize an anti-gaming function that compresses multiple orders from a single participant into a single participant interest prior to allocating shares.11-22-2012
20120296792Process for financing and interest rate price discovery utilizing a centrally-cleared derivative - A process for financing and interest rate price discovery utilizing a centrally-cleared derivative is provided. Criteria are bid and/or offered with respect to enumerated amounts. The criteria can be prices or interest rates. The interest rate can be an overnight and other term interest rates, forward interest rates, and combinations thereof. Bids and offers are matched at the same criteria rate. Each matched bid and offer is assigned at least one derivative at a price derived from the matched criteria. The derivative is centrally cleared.11-22-2012
20080313070SYSTEM, METHOD AND APPARATUS FOR CONSUMER PURCHASE AND FUTURE DISTRIBUTED DELIVERY OF COMMODITY AT PREDETERMINED PRICES - Embodiments disclosed herein provide a unique methodology as well as the overall architecture necessary to implement the methodology that can enable an entity to create and provide a consumer price protection product under the Forward Contract Exception of the Commodity Exchange Act. Even consumers who do not meet commodity-related regulation requirements such as the Eligible Contract Participant regulatory requirements may purchase such a consumer price protection product or a variation thereof to reduce or cancel out the risk or at least reduce the unpredictability in purchasing commodities such as motor fuels.12-18-2008
20080288390COMPLEX ORDER LEG SYNCHRONIZATION - A system is provided for trading complex orders for financial instruments, including complex orders that include legs that are to be executed on different markets. The legs of the order are optionally specified to be executed in a particular ratio, at net price, and/or at a range of net prices. The system halts trading for all legs in one market, determines a quantity and price to execute a second leg of the order on the other market to achieve a specified ratio or net price and then submits the second leg for execution on the other market if the second leg remains marketable on the other market. If an execution is received from the other market, then the legs in the first market are executed and the series unfrozen. If the other market has not responded after a predetermined time, then the legs in the first market are unfrozen and trading continues.11-20-2008
20120296796HYBRID TRADING SYSTEM FOR CONCURRENTLY TRADING COMBINED ORDERS FOR FINANCIAL INSTRUMENTS THROUGH BOTH ELECTRONIC AND OPEN OUTCRY TRADING MECHANISMS - A system and method of trading combined orders in an exchange configured for trading by a combination of electronic and open-outcry trading mechanisms is provided. One method includes receiving an incoming order having a first order component and a second order component at an electronic trade engine and routing the first and second order components to a first electronic database. The first and second order components are matched and executed against order components maintained in the first and second electronic databases, respectively. Any unexecuted first and second order components are placed in an electronic book according to a predetermined program if the first or second order component cannot be completely matched against any order components maintained in one of the first or second electronic databases. The system includes a trade engine configured for receiving combined orders from market makers.11-22-2012
20080275808Anonymous block trade matching system - Disclosed is an anonymous block trade matching system which allows users that wish to cross large blocks of stock to submit orders, or indications of interest, with the option of utilizing market peg benchmarks or future price cross benchmarks. Orders submitted may be subject to minimum thresholds, including a threshold requiring that the order represent ‘X’ % of average daily volume. After submission of a firm order in the system, an alert is generated to provide the order data to other users with potential to cross the order. Visibility of order data by other users may be restricted based upon a data interaction group to which the ordering user or the other user belongs. The system may provide users viewing order data with a capability of negotiating with the submitting user via a restricted two-way messaging interface. Flat rate and rebate/fee cost models may be utilized as a means for charging a user for access to the system.11-06-2008
20080270288Derivative Product for Binary Outcomes - A method and system are described for creating an exchange for futures products for odds markets based on binary outcomes. The futures product is based on the value of a particular fixed index or an exchange delivery settlement price in odds form, as recorded or computed at the end of a pre-assigned event or time-horizon. A particular use of this product would be on an exchange for sporting events, where for a given event, an identical interface to that which would currently be available for odds markets is made available, but which would be settled differently from the former, in such a manner as to allow investors to take positions on the movement of the odds without exposure to the final outcome of the event.10-30-2008
20080270286PRODUCT EXCHANGE SYSTEMS AND METHODS - Embodiments disclosed herein generally relate to a global network-based trading exchange. In embodiments, the trading exchange trades both products, product concepts and ownership shares associated with the products and product concepts both as ownership shares and as bundled offerings. For example, the products offered are downloadable electronic files, such as music downloads or movie downloads. A user can buy ownership shares or the bundled offering and then own the rights to dividends in the future sales of the product. Further, the user may trade the shares on the trading exchange. In embodiments, the determination of the price for the shares and/or bundled offering is dynamic and fluctuates with market demand.10-30-2008
20080228626Auctions For Health Care Providers - In one aspect, there is provided a computer-implemented method. The method may include providing user interfaces to enable an auction between a provider of health care and an employer. A first auction may be initiated by a user interface associated with a provider of health care. The first auction may be initiated when profile information of the provider is received. A second auction may be initiated by a user interface associated with the employer, when the employer seeks a placement of the provider. The user interface associated with the employer may be used to make bids on at least one of the first auction and the second auction. Related systems, apparatus, methods, and/or articles are also described.09-18-2008
20080270290PROCESS AND APPARATUS FOR CONDUCTING AUCTIONS OVER ELECTRONIC NETWORKS - An apparatus and process for conducting auctions, specifically municipal bond auctions, over electronic networks, particularly the Internet, is disclosed. The auctioneer maintains a web site from which information about bonds to be auctioned can be obtained. A user participates in the auction by accessing the web site via a conventional Internet browser and is led through a sequence of screens that perform the functions of verifying the user's identity, assisting the user in preparing a bid, verifying that the bid conforms to the rules of the auction, displaying to the user during the course of the auction selected bid information regarding bids received and informing the bidder how much time remains in the auction. The user may be given the option of confirming the accuracy of his bid before submitting the bid. The auctioneer is able to review bidding history, determine the winner and notify the winner over the network, and display selected auction results to bidders and observers over the network.10-30-2008
20080270282SYSTEM AND METHOD FOR BIDDING ON CONTINGENCY-BASED MATTERS - A system comprises a web server for posting matters of clients for bidding by contingency professionals, e.g., contingency lawyers and/or judgment collectors; a client matter engine for enabling a particular client to post a particular matter and to select a particular contingency professional bidding on the particular matter to handle the particular matter; a professional bidding engine for enabling the particular contingency professional to review at least a portion of the posted matters and to bid on the particular matter; and a bidding exchange engine for enabling the particular client and the particular contingency professional to communicate without exchanging direct contact information.10-30-2008
20080235129Educational Tuition Securities System - An educational tuition securities system is provided. An educational institution can securitize tuition or course credits into tuition shares. Tuition shares in an educational institution can be purchased for a student and redeemed for payment of tuition credits or education costs at the educational institution. Tuition shares for an educational institution can be traded for tuition shares of another institution. Redeemed tuition shares can be used to pay for undergraduate and graduate education costs, or could be redeemed for cash. The invention provides a mechanism for paying future education costs, as well as for investing in educational institutions.09-25-2008
20090119201System and Method for Facilitating Trading of Multiple Tradeable Objects in an Electronic Trading Environment - A system and method are provided for trading multiple tradeable objects. One example method includes displaying at least one combined quantity indicator representing a combined quantity associated with at least two tradeable objects, detecting an input associated with an order for a predetermined order quantity in relation to one of the combined quantity indicators, and allocating the order quantity between the at least two tradeable objects using at least one quantity allocation rule. In one example embodiment, a plurality of quantity allocation rules can be user-configurable, and different rules can be defined and applied in relation to different order types.05-07-2009
20100145844METHOD FOR SCHEDULING FUTURE ORDERS ON AN ELECTRONIC COMMODITY TRADING SYSTEM - A method is provided for placing a trade order for a commodity on an electronic exchange to be executed at a future time, said method comprising the steps of displaying a trading screen for a commodity market, said trading screen including a future time schedule and an order entry region corresponding to each future time segment of the future time schedule, and scheduling an order corresponding to a future time segment by locating a pointer of a user device within an order entry region corresponding to the future time segment and sending an input signal via the pointer.06-10-2010
20090119197METHOD AND SYSTEM FOR PROVIDING AGGREGATION OF TRADING ON MULTIPLE ALTERNATIVE TRADING SYSTEMS - A method for performing financial trading amongst a plurality of alternative trading systems using a common financial computer platform. The method including the steps of receiving at the common financial computer platform a buy-order for a prescribed number shares at a prescribed price. Electronic communication is then established between the common financial computer platform and each of the plurality of alternative trading systems. At least a portion of the buy-order is then submitted from the common financial computer platform to each of the plurality of alternative trading systems. The common financial common platform then monitors each of the plurality of alternative trading systems to determine if at least a portion of the buy-order was executed by one of the plurality of alternative trading systems. And if yes, then that indicated execution for one of the plurality of alternative trading systems is automatically accepted and automatically canceled are the remaining buy orders that were submitted to the other alternative trading system which were not yet executed.05-07-2009
20090018945SYSTEMS AND METHODS FOR FACILITATING ELECTRONIC SECURITIES TRANSACTIONS - A method for facilitating securities transactions is shown. In one embodiment, the method includes identifying, by a computer system from an OMS comprising a plurality of stored security orders, a subset of orders specifying at least a minimum available quantity; transmitting, by the computer system to an ETM, a non-binding indication corresponding to one order of the subset of orders, the non-binding indication comprising a security identifier and the order type; receiving, by the computer system, an indication that a match exists to the non-binding indication; determining, by the computer system, a total available quantity for the order corresponding to the non-binding indication; and transmitting, by the OMS, a binding order corresponding to the non-binding indication, the binding order comprising the determined total available quantity. Corresponding systems are also described.01-15-2009
20120036060SYSTEM AND METHOD FOR EVENT-BASED TRADING - A system and method for news-based trading are developed. According to one method, a trader can pre-define a trading strategy including a number of trading rules to be applied based on a comparison of one or more estimated event values to the respective actual event values to be released at some later time. The example method further includes, upon receiving one or more actual event values via a user input or directly from outside sources, executing one or more predefined trading rules selected based on the comparison of the received actual event values to the respective estimated indicator values.02-09-2012
20090063326Trading System - An object of the invention is to provide a trading system used by agents or the like when placing orders in a trading market system. The trading system has order receiving means; order ID assigning means; event monitoring means for monitoring at least one event and determining whether order conditions have been met; order issuing means for issuing, in the trading market system, order attributes defined on the basis of order attributes; and order attribute definition means for performing processing on the basis of objects when undefined order attributes are included, and returning the results. The order issuing means transfers an object ID included in the undefined order attributes; the order attribute definition means processes the object and returns the results to the order issuing means; and the order issuing means receives the processed results, converts the portion of the undefined order attributes to the processed results, and converts the order attributes to defined order attributes, whereupon the defined order attributes are issued to the trading market system.03-05-2009
20090030832CREDIT EVALUATION SYSTEM AND METHOD FOR NETWORK EFFECT CREDIT EXTENSION - Disclosed is a credit evaluation system and method for network effect credit extension that is applied in financial and electronic business fields. The major objective is to construct a credit evaluation system by employing the Internet technology, so that people in need of a loan may obtain credit amount faster than those utilizing an existing credit evaluation method without having to reduce the credit evaluation standard.01-29-2009
20090030828Enhanced quote and order integration system and method - An enhanced system and method for executing options trades are disclosed. The order book and quote book are maintained separately to make quote and order processing more efficient, but the order book and quote book are integrated, as needed, to determine the marketability of incoming quotes and, where necessary, so that incoming quotes can execute against resting quotes or orders.01-29-2009
20110270739System and Method for Improved Distribution of Market Information - A data distribution system and method are described herein to improve the distribution of market information to subscribing client devices. Market information updates are provided to subscribing devices over a communication link every time a change in the market occurs. If a bandwidth limitation is reached on the communication link, the preferred embodiments switch to a second mode of transmission such that the market information updates are provided only at predetermined intervals. The preferred embodiment monitors the bandwidth consumption to determine what mode of transmission to apply, and in response, it can dynamically change between modes of transmission. By dynamically adjusting the mode of transmission to comport with the current network bandwidth, the preferred embodiments may provide a network friendly, data intensive, and fast response market information feed.11-03-2011
20110270736Optimizing execution of trading orders based on trading order metric - A system for processing trading orders comprises an optimizer module operable to receive a first trading order and a second trading order. The optimizer module is further operable to receive market data associated with at least one market center. The optimizer module is further operable to determine whether to transmit the second trading order to the at least one market center prior to transmitting the first trading order to the at least one market center, the determination based at least in part on the market data.11-03-2011
20110270734METHOD AND SYSTEM FOR TRADING OPTIONS - Device, system and method of trading an option. A method may include executing, by a computing device, at least one transaction of an option on an underlying asset using at least one of a bid price and an offer price, wherein a bid/offer spread between the bid price and offer price is the result of a calculation using first data corresponding to at least one parameter defining the option and second data corresponding to at least one current market condition relating to the underlying asset.11-03-2011
20110270732DISPLAY/USER INTERFACE FOR TRADING SYSTEM - This application discloses a display and/or user interface for viewing information relating to tradable items such as financial interests and/or for use in a trading system for such items. Offer and bid prices for the tradable item are displayed according to an alignment, e.g., vertically. The prices move along the alignment in accordance with received price updates. Persistence of at least a part of an earlier display is provided in a later display for indicating a market change or changes. A shift in the positions of one or more of the prices in the alignment and some visual persistence relative to one or more earlier prices provide an easily perceived visual indication to the viewer of changes in prices and direction of a market change or change relating to a reference value or benchmark from a first time to a second time. The displayed prices may include a last price, best offer and bid prices and depth of market prices. A cell is provided for each price and a color indicator for a price to be persisted is implemented, e.g., as a background coloring of the cells. Best offer and bid prices may be indicated by a first color, e.g., white, depth of market offer prices indicated by a second color or colors in one color family, e.g., green, and depth of market bid prices indicated by color or colors in another color family, e.g., red, with the particular color becoming more intense (e.g., darker) as the price worsens.11-03-2011
20090182660SYSTEMS AND METHODS FOR PROVIDING ENHANCED VOLUME-WEIGHTED AVERAGE PRICE TRADING - Systems and methods for providing trading using an eVWAP price in an illiquid market are provided. In an illiquid market there may be little or no actual trades. During a trading period, the eVWAP price is therefore determined from not only trades, but also unmatched bids and offers. The eVWAP price is determined when new information becomes available or at a specified time interval. The final eVWAP price is determined when the sampling period ends. Once the final eVWAP price is determined, the value of the final eVWAP price is published for use as a price to settle a contract.07-16-2009
20110270733Computer and Network Implemented Money Market Instrument Portal with SWIFT Message Confirmation of Transactions - The present invention relates to a method, system and platform for money market mutual fund purchasing for cash management. In particular, it relates to facilitating book order entry transactions for cash managers that have multiple banking relations and that diversify their cash management by purchasing money market mutual funds from multiple unaffiliated providers. The technology disclosed supports electronically receiving instructions that select among the unaffiliated providers' products, electronically issuing binding orders and binding transfer instructions for settlement, and using SWIFT messages to confirm the transfers to the cash managers. The cash managers' instructions may be received in a variety of forms. In some implementations, this technology is extended to reconcile balances and holdings after execution of the orders and transfers, and to flag any discrepancies.11-03-2011
20110270731Apparatus, Methods and Articles of Manufacture for Computerized Transaction Execution and Processing - Apparatus, methods and articles of manufacture for n-tier transaction execution and processing are shown. The first layer comprises a presentation layer in the form of a user interface for entering instrument orders, modifying orders, and monitoring orders, instruments and markets. The second layer comprises an intermediate component layer for information transfer, and the third layer comprises an information source layer for feeding information to and accepting information from the first two layers.11-03-2011
20090037319RANDOMIZED TRADING APPARATUS AND METHOD - An apparatus and method of training helps separate emotions from decisions. A user account with single masked login allows selective access to a live account with actual funds and a demo account with false funds. A program randomly causes trading in the live and/or demo accounts according to a predetermined percentage, allowing the user to place trades/bets but without letting the user know which account is active. The present method further determines if trades/bets on the live and demo accounts are not offset/flat, and potentially forces the user to continue trading on the same accessed account. When the user logs out, the present method syncs the demo account to the live account, generates data concerning differences between live and demo accounts, and gives feedback to at least one of the user and a system controller.02-05-2009
20090037318Trading method for trading between trading systems and trading system - In a trading method for trading financial products between first and second trading systems, if an order to buy/sell a product as received in a first trading system is not completed within a prescribed time, an order notice is transmitted to a second trading system at a predetermined timing. The second trading system makes a search to detect whether a reverse order is present, locks therein a reverse order thus detected, and transmits an order instruction according to the reverse order. The first trading system then executes the buying/selling in response to the order instruction, and transmits an execution result in response to the order instruction to the second trading system. The second trading system executes the buying/selling for the locked reverse order, based on the results of the execution performed by the first trading system.02-05-2009
20080243676Hybrid Trading System for Concurrently Trading Combined Orders for Financial Instruments Through Both Electronic and Open-Outcry Trading Mechanisms - A system and method of trading combined orders in an exchange configured for trading by a combination of electronic and open-outcry trading mechanisms is provided. One method includes receiving an incoming order having a first order component and a second order component at an electronic trade engine and routing the first and second order components to a first electronic database. The first and second order components are matched and executed against order components maintained in the first and second electronic databases, respectively. Any unexecuted first and second order components are placed in an electronic book according to a predetermined program if the first or second order component cannot be completely matched against any order components maintained in one of the first or second electronic databases. The system includes a trade engine configured for receiving combined orders from market makers.10-02-2008
20110016034METHOD AND SYSTEM FOR AUCTIONING FUNDS USING A FULL-TIME PUBLIC NETWORK - A method for auctioning funds to a bank or by a depositor using a full-time public network, including several steps. A connection is established (01-20-2011
20090119200Methods and systems for providing a beta commodity index - In at least one aspect, the invention comprises a computer-implemented method comprising: electronically receiving data regarding prices of exchange-traded futures contracts on physical commodities; selecting, based on said received data, one or more of said futures contracts to be referenced by a commodity index; identifying, on a periodic basis, one or more deferred futures contracts into which said selected one or more futures contracts will roll; and providing one or more derivative products linked to said commodity index. In at least one aspect, the invention comprises a commodity index that references exchange-traded futures contracts on physical commodities, wherein one or more deferred futures contracts into which the futures contracts will roll are identified on a periodic basis, and wherein said one or more deferred futures contracts are identified based on an effective spot price. In at least one aspect, the invention comprises a derivative product linked to a commodity index.05-07-2009
20090119199Loan determination method and apparatus - The method of determining the best mortgage loan interest rate, that includes the steps, selecting a group of bid participating banks, and/or mortgage lenders willing to participate in a generally simultaneous, or by a deadline, bid competition, causing the group to submit generally simultaneous, or by deadline, available and quoted loan rate bids to compete, allowing members of the group to revise said quoted rates after review of other member quoted rates, and selecting one of said submitted bids as a winning low rate loan bid.05-07-2009
20090119198Method for Domain Trading - A method for domain portfolio trading involving the assessment of risk level based on various tangible criteria and applying this determination to the assignment of a value. Once the aggregated level of risk and actual value number are determined, a real-time, online domain portfolio trading mechanism allows those involved to track, move, implement and otherwise conduct business in an instantaneous environment.05-07-2009
20100145841EVALUATION AND ADJUSTMENT OF SETTLEMENT VALUE CURVES - Disclosed is a method that is useful in connection with providing discount factors for an exchange-traded mark-to-market derivative product that has a variable tick rate, such as an interest rate swap product. In some embodiments, the method includes providing a series of consecutive settlement values, which collectively represent a settlement value curve for the derivative product. The curve is evaluated by determining, for each consecutive pair of settlement values, whether the difference between the first settlement value in the pair and the second settlement value in the pair exceeds a threshold. The threshold represents the value at which a discount factor derived from said pair of settlement values, in conjunction with other parameters, would be negative. In other embodiments the disclosed invention encompasses an apparatus and a computer-readable medium.06-10-2010
20110208638SYSTEM AND METHOD OF AUCTIONING A DEFAULTED LOAN - A method and system for conducting an online property auction whereby the system allows for identifying an owner of property willing to sell his property by an online auction, entering into a contract with the owner obligating him to complete the sales of his property conducted pursuant to terms of the contract; pre-arranging a minimum auction price for his property that accounts for the owner's interest, plus costs and fees, conducting the on-line auction with a plurality of bidders for his property whereby at the on-line auction's conclusion there is a winning bidder and ensuring the transfer of the winning bidder's funds to the escrow holder.08-25-2011
20110208636MATCHING PARTIES TO A TRANSACTION FOR AN AGRICULTURAL COMMODITY - In general, in one aspect, the invention relates to a method for matching parties to a transaction of an agricultural commodity. The method involves receiving buyer criteria (e.g., purchase quantity, buyer price, transaction location at which to buy the agricultural commodity) sent from a mobile device used by a primary and secondary buyer. The method further involves receiving seller criteria sent from a seller mobile device. The method further involves matching, within a predetermined period of time after receiving the buyer criteria and the seller criteria, the primary and secondary buyer with the seller based on determining that a yield is sufficient to meet the purchase quantity and a transaction location at which to buy the agricultural commodity falls within a number of locations common the primary/secondary buyers and the seller. The method further involves sending the buyer criteria to the seller mobile device using short message service (SMS) format.08-25-2011
20110208633SYSTEM AND METHOD FOR TRADING A FUTURES CONTRACT BASED ON A FINANCIAL INSTRUMENT INDEXED TO ENTERTAINMENT DIVIDENDS - A method of trading includes performing a transaction of a futures contract between a buyer and a seller. The futures contract is associated with at least one entertainment event and comprises a purchase price and a settlement date. The method concludes by performing a settlement of the futures contract based at least in part upon the purchase price and a value associated with the entertainment event at the settlement date. The entertainment event is associated with a security and the transaction of the futures contract is performed in conjunction with the issuance of the security to the seller.08-25-2011
20110208632Generation of a Hedgeable Index and Market Making for a Hedgeable Index-Based Financial Instrument - Systems, methods, and apparatuses are provided for processing a relationship metric comprising a plurality of components each having an associated percentage weight, selecting a plurality of financial instruments each corresponding to one of the plurality of components, determining an integer number of each of the plurality of financial instruments such that a relationship based on the integer numbers approximates the percentage weights, and composing an index that includes the respective integer numbers of each of the plurality of financial instruments.08-25-2011
20090164361Last Call for a Real Estate Property, a Chattel or a Financial Instrument for Online and Off-line Uses - A method of advertising, marketing and auction sale of real estate properties, chattel properties and financial instruments and more particularly a method of handling last minute Internet online and in person off-line bidding extensions are described. Internet websites have been designed for this purpose such that prospective customers or interested bidders may view property specific photographs and information, financial and credit information and other details with respect to a property. In the Internet bidding format and the in person off-line bidding format, as long as at least one bid is made within an established bid period before the bid deadline, the bidding can be extended for a pre-determined amount of time.06-25-2009
20090164360REAL ESTATE TRANSACTION SYSTEM USING REAL ESTATE SECURITIES AND METHOD THEREOF - Provided are a real estate transaction system and method using real estate trust that are capable of lessening a burden on a residence right holder and investors by securitizing real estate and selling a plurality of divided securities including a security for ownership and a security for investment. A real estate special purpose company buys real estate and divides a right for real estate into a residence right and an investment right that is transacted as an investment security at a real estate security exchange, like normal security, with the residence right and the investment right having different dividend percentages, such that a buyer desiring actual residence resides on the property by paying only a portion of the price of the real estate and a person desiring investment invests in real estate for desired equity.06-25-2009
20090089200PRE-EXECUTION CREDIT CONTROL - Systems and methods are provided to provide pre-execution risk or credit control for electronic financial derivative product trading. A portfolio risk management analysis method, such as the Standard Portfolio Analysis of Risk method, is used to determine how a new order will impact the overall credit or risk of a trading entity. The pre-execution risk control is performed on an order by order basis prior to order execution and may include an analysis of assets and orders for other financial products at the same or different exchanges. The risk level for a trading entity may be set by that trading entity, its clearing organization or the exchange.04-02-2009
20090125436RENEWABLE ENERGY TRUST SYSTEM AND METHOD - A renewable energy trust system and methods of using same are disclosed. In certain embodiments, a renewable energy trust is funded and the trust funds or a portion thereof are used to develop renewable energy.05-14-2009
20110060677QUOTE AND ORDER ENTRY INTERFACE - A graphical user interface centralizes Level I quote information in the center of a circular display while Level II (or regional) data appears in peripheral bands layered on the outside of the Level I information. The interface is also split into two main sections, a “bid” quote information section and an “ask” quote information section. The bid quote information appears on the left of the interface while the ask quote information appears on the right side of the interface. Through clicking in any one of the peripheral bands, an order can be placed at that price point.03-10-2011
20090164359SINGLE ACTION BIDDING - Apparatus, systems, and methods may operate to present an item for bidding as part of an electronic auction conducted by a networked computer system, and to present a request for a single action bid by a bidder to simultaneously enter and confirm a single action bid amount for the item. Additional apparatus, system, and methods are disclosed.06-25-2009
20090177572SYSTEM, METHOD AND COMPUTER PROGRAM PRODUCT FOR PROVIDING AN EFFICIENT TRADING MARKET - A system, method and computer program product for providing a trading exchange are disclosed. A request for conducting trade of a security is received from a user. The security associated with requested trade is evaluated to generate a derivative security. A trade is then executed for the user using the derivative security. Information relating to the executed trade is captured utilizing a network so that the captured information can be utilized to adjust an account of the user in accordance with the executed trade.07-09-2009
20090164358MERCHANDISING FOR HIGHER BIDS - A method and a system for merchandising for higher bids are provided. In example embodiments, a proposed price for a first listing may be received from a user. In response to receiving of the proposed price, a message may be conveyed to the user when the proposed price is lower than an expected price for the first listing. In supporting the message, the user may be provided with price and popularity information related to one or more second listings similar to the first listing.06-25-2009
20080306859STANDING ORDERS AND SALES FOR ENVIRONMENTALLY RELEVANT ITEMS - In embodiments of the present invention improved capabilities are described for methods and systems for facilitating exchange of rights associated with environmentally relevant items. The methods and systems may include identifying a type of environmentally relevant item recognized by a market associated with an environmentally relevant action and allowing a user to place a standing order or sale.12-11-2008
20080306855Allocation Mechanisms for Dutch Auction of Securities - A method is described for auctioning securities by an auction offeror. Bids are received for an offered number of securities. Each bid includes a bid price, a desired number of securities, and a timestamp indicting a time that the bid was received by the system. After a final bid time, a final price for the securities is established based upon the received bids. Then the desired number of securities is allocated to each bid having a bid price more favorable for the auction offeror than the final price. The desired number of securities is also allocated to each bid having a bid price at the final price, in bid timestamp order favoring earlier timestamps, until the offered number of securities has been allocated.12-11-2008
20120197774Systems, Methods, and Media for Generating and Sending Indications of Interest in Trading Systems - Systems, methods, and media for generating and sending indications of interest in trading systems are provided. In some embodiments, systems for generating and sending indications of interest in trading systems are provided, the systems comprising: at least one hardware processor that: determines whether an order is blocked from inclusion in an indication of interest; determines whether the order is marketable; generates the indication of interest so that it includes at least a portion of the order when the order is determined to not be blocked and the order is marketable; determines whether the indication of interest is blocked from being sent to a destination; and sends the indication of interest to the destination when the indication of interest is determined to not be blocked from being sent to the destination.08-02-2012
20090138395SYSTEMS AND METHODS FOR AN ONLINE CREDIT DERIVATIVE TRADING SYSTEM - A credit derivative trading system comprises a credit derivative authority configured to receive defined positions for credit derivatives and update a plurality of trade clients in real-time whenever there is movement in the market for a particular credit derivative.05-28-2009
20100268631Structure and mechanism for REIT preferred securities - The real estate investment trust (“REIT”) structure and mechanism manages earnings distributions from the REIT to maintain REIT status. The REIT issues common stock to a bank affiliated parent (“holder”) in exchange for real estate related assets. The holder covenants to consent to consent dividends, under which the holder covenants to pay taxes on a consent dividend amount while the REIT deducts the consent dividend amount and retains the amount for each dividend period. The REIT also issues preferred securities to investors. At each dividend period, the REIT can declare cash dividends to preferred investors and/or declare consent dividends such that the REIT distributes at least a regulatory percentage of its annual income to preferred and common stockholders in order to maintain REIT status. The REIT is thus adequately capitalized, maintains status as a REIT, and receives stronger agency ratings, with regard to equity content, for the preferred securities.10-21-2010
20090006244System and Method for Performing Automatic Spread Trading - The present embodiments are provided to facilitate the automatic trading of spreads in a fast and accurate manner. One or more market data feeds that contain market information for tradeable objects are received at an exchange. A spread data feed is generated in response to the market data feeds and from one or more spread setting parameters, which can be entered by a user. The spread data feed is preferably displayed in a spread window as bid and ask quantities associated with an axis or scale of prices. The user can enter orders in the spread window and the legs will be automatically worked to achieve, or attempt to achieve, the spread. In addition, other tools disclosed herein may be utilized to assist the user in making such trades.01-01-2009
20090006242Automated auctioning method for market evaluation - In an automatic auctioning method for determining market valuations, the auction process operates in two rounds, whereby the first round is a “sealed bid first price” auction while the second round is an “ascending price” auction. All bids and the winners of both rounds are kept confidential until the second round is completed. Data on bids made and consequential winning results are analysed and processed.01-01-2009
20110225082SYSTEM FOR IMPLEMENTING AUTOMATED OPEN MARKED AUCTIONING OF LEADS - In an automated leads-and-bids exchange system, bid profiles are defined to describe desires of lead buyers. Received leads are matched to active ones of the bid profiles whose specifications the leads substantially match. An auctioning subsystem finds the highest one or group of bids for each given lead. A quality rating database rates the quality of leads provided by different sellers. A price discounting engine discounts the amount paid to sellers who are rated as inferior sources of leads.09-15-2011
20090177574METHODS AND SYSTEMS FOR PURCHASE OF COMMODITIES - The invention is directed to methods and systems for commodities procurement with concomitant hedging. The invention enables automatic commodity purchase at a desired basis level when a seller's price matches a buyer's basis bid and concomitantly automatically placing an electronic commodities order to hedge the buyer's purchase.07-09-2009
20090177575SYSTEM AND METHODS FOR ACQUIRING AN INTEREST IN REAL PROPERTY - Methods and systems for implementing investment options on a real property. An owner of the real property may sell a Call option that gives the owner a consideration in exchange for an option to purchase the property at a strike price at some point in the future, wherein the strike price is set to a percentage of the initial fair market value of the property. The Call option may also give the owner the right to participate in the net appreciation of the property upon sale. The owner may purchase a Put option that gives the owner a stop-loss in the event of a market downturn or the depreciation of the property's value. By placing a Collar, a bundled Call and Put option, around the real property, the owner may diversify his/her exposure to market downturns in exchange for a piece of the upside.07-09-2009
20090177573SYSTEM AND METHOD FOR MANAGING RELATIONSHIPS BETWEEN BROKERS AND TRADERS - According to one embodiment, a method of managing access to a trading network is provided. A first network login request for a first user is received from a client application. The first network login request includes first authentication information. Based at least on the first authentication information, the first network login request is approved, which authorizes the first user to access the trading network. One or more associated users for which the first user is authorized to act as a proxy is identifying from a plurality of users. User profile information for one of the associated users is obtained and communicated to the client application. The user profile information includes information regarding the second user that can be used to allow the first user to engage in trading activity via the trading network on behalf of the second user.07-09-2009
20090187503GENERATING CONTENT TO SATISFY UNDERSERVED SEARCH QUERIES - Generating content to satisfy search engines queries is described. A knowledge base including a plurality of prior search queries for a search engine and corresponding prior search results provided by the search engine is accessed and a plurality of underserved search queries are identified, wherein each of the underserved search queries comprises a search query pattern having a below threshold number of search results. Each of the underserved search queries are heuristically related to one another. The plurality of underserved search queries are aggregated into a taxonomy category having a set of associated attributes, the attributes descriptive of the plurality of underserved search queries. Targeted content is generated based on the attributes, wherein the targeted content is tailored satisfy the underserved search queries.07-23-2009
20110145129METHOD AND SYSTEM FOR REBROKERING ORDERS IN A TRADING SYSTEM - Systems and methods are described herein for supporting the trading of bonds in a computerized system using broker dealers as intermediaries. Broker dealers receive orders relating to particular transactions and have the option to accept the order by submitting a matching counter order, or to rebroker the order with the same or modified terms to a number of other investors or additional broker dealers. The additional broker dealers have similar options, thus providing a system wherein orders can be quickly proliferated to a large number of parties. This order proliferation can be fully or partially automated through the use of predefined rules stored in a database which dictate for each broker dealer whether, to whom and under what terms to rebroker orders. When an order is received, the system processes all such rules to output a set of orders which are then communicated to the corresponding parties.06-16-2011
20090063327System and method for integrating a convertible security with a call spread - The present invention relates to a method and system for providing a financial instrument by integrating a convertible security with a call spread to form a financial instrument having the benefits of low coupons and tax efficiencies. The call spread includes a first call option that mirrors features of the convertible security and a second call option that has a higher strike price than that of the first call option.03-05-2009
20130218748METHOD AND APPARATUS FOR MEASURING AND MONITORING POST-SALES CONDITIONS WITHIN A NETWORK TRADING PLATFORM - A method and a system to measure and monitor post-sales conditions within a network-based trading platform including a post-sales management module automatically to monitor post-sales parameters pertaining to an inventory of sold items and an alert module automatically to generate an alert when at least one post-sales parameter transgresses a threshold.08-22-2013
20090055306Systems and Methods for Limit Order Volume Clearing in Online Trading of Credit Derivatives - Systems and methods for limit order volume clearing in online trading of credit derivatives are disclosed. In one embodiment, a method for limit order volume clearing may comprise: selecting a set of credit derivatives based on dealer interest and market activities; inviting trading clients to submit, within a time limit, buy orders and sell orders for the selected credit derivatives; determining an auction price for each of the selected credit derivatives, such that a total notional amount of trades that can be executed at the auction price is the largest possible and a total notional amount of unfilled orders is the smallest possible: executing a first subset of the buy orders and the sell orders that can be completed at the determined auction price; and launching a volume clearing session, with a volume clearing price level set to the determined auction price, for a second subset of the buy orders and the sell orders that have not been filled.02-26-2009
20090055302System and method for integrating a convertible security with a call spread - The present invention relates to a method and system for providing a financial instrument by integrating a convertible security with a call spread to form a financial instrument having the benefits of low coupons and tax efficiencies. The call spread includes a first call option that mirrors features of the convertible security and a second call option that has a higher strike price than that of the first call option.02-26-2009
20090327119MANAGING OUTLYING TRADING ORDERS - A determination is made as to whether a trading order that has been placed on a trading exchange is an outlying trading order. If it is determined that the trading order is an outlying trading order, a restrictive action is taken regarding the outlying trading order, and/or a restrictive action is taken regarding a subsequent trading order that may trade with the outlying trading order.12-31-2009
20090327117Apparatus and Method for Trade Aggregation of Trade Allocations and Settlements - A post-trade aggregation system includes an allocation middleware interface, which interacts with an order management system to allocate and settle trades. The order management system receives a trade order on behalf of a customer and either apportions the trade into a plurality of smaller orders and communicates them to a plurality of order destinations directly (e.g. via the FIX protocol), or sends large orders to an order staging and optimization interface which then apportions the larger orders into a plurality of smaller orders and communicates the orders to a plurality of order destinations. The post-trade aggregation system contains an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block. The allocation middleware interface then sends the single average-priced block to be cleared by a designated clearing agent and allocates the single average-priced block into one or more custodian accounts. In further aspects, a method and apparatus are also provided.12-31-2009
20090327116Asynchronous Hypertext Messaging - An asynchronous hypertext messaging system and method are disclosed. The system and method use existing hypertext transfer protocols and is capable of transmitting real-time asynchronous data between server and client regardless of firewalls or proxy servers implemented at the client or the server. In a communication system comprising a client and server interconnected by an internet, initial authentication is performed initially between the server and the client. A secure log in is performed by the client with the server in conjunction with a possible java applet download. The communication server then initiates a multiplexed virtual connection between the server and the client and transmission of asynchronous real-time data can occur over the virtual connection. The virtual connection is periodically refreshed by a request issued from the java applet.12-31-2009
20090012893Trading System - A method for enabling collaborative processing of data by one or more computers or digital data processing systems. The computer(s) compute a value representative of a first yield for a first instrument, the first instrument being a derivative of an underlying financial instrument, the first instrument being a non-fixed-income instrument. The computer(s) compute a second yield of a second financial instrument. The computer(s) control automated trading of the first instrument based at least in part on comparison of the first yield value with a computed second yield of a second financial instrument, and/or based on comparison of a differential of the first instrument value over change in market interest rates against a differential of the second instrument value over change in market interest rates, the control balancing sizes of positions in the first instrument and second instrument to achieve a desired financial risk profile.01-08-2009
20080243673Methods to improve accuracy and precision of timestamps for financial data - A method for producing a timestamped series of price data of a financial instrument from its prices. The timestamped series includes a timestamp associated with each price. Each timestamp has a timestamp precision of one millisecond or less and a timestamp accuracy equal to or shorter than the timestamp precision. At least one timestamping processor is provided to receive the prices. The internal clock of each timestamping processor is synchronized to a universal time with a time precision and accuracy equal to or shorter than half of the timestamp precision. Each price is applied to a timestamping processor with a predetermined time delay after quotation. Each time delay has a time delay precision and accuracy equal to or shorter than half of the timestamp precision. The timestamp is determined for each applied price based on the corresponding delay time and internal time when the price is applied.10-02-2008
20080319891Clearing System for An Electronic-Based Market - A system for an electronic-based market is disclosed. The system operates with a model where a trader is designated to enter orders for contracts on behalf of a subscriber. The model uses assets of the subscriber that are placed into an account that is accessible by the electronic market to cover risks associated with trades initiated by the trader. The system includes a plurality of client stations for entering orders into the electronic market by traders and a server to receive the orders and match the orders in accordance with matching criteria. The server maintains for the subscriber and the subscriber's associated traders a trading account that is accessible by the electronic market. The server also includes offsetting, clearing, default, and margin protocols functions to administer the market. The market uses species contracts that are derived from a contract genus.12-25-2008
20110225081METHOD AND SYSTEM FOR CANCELING ORDERS FOR FINANCIAL ARTICLES OF TRADES - Market data is monitored for purposes of canceling orders for financial articles of trade. Real-time data is collected from multiple liquidity destinations trading at least one financial article of trade. The real-time data comprises disparate data corresponding to associated liquidity destinations. The collected real-time data is normalized into a standardized form. A condition is defined of a trading market that includes one or both of submitted and executed transactions of financial articles of trade over the multiple liquidity destinations. The condition is associated with an entity. Through monitoring of the normalized real-time data, an event is identified in the trading market that matches the condition. Upon identification of the condition, at least one communication session between the entity and a corresponding liquidity destination is terminated causing a process at the corresponding liquidity destination to cancel pending or outstanding orders for financial articles of trades from the entity.09-15-2011
20110225080TEST TRADING - Disclosed are systems and methods for placing and processing test orders and real orders.09-15-2011
20090024515Method of doing business for auctioning a defaulted loan - A method of doing business includes identifying an owner of property willing to sell his property by an online auction, entering into a contract with the owner obligating him to complete the sales of his property conducted pursuant to terms of the contract; pre-arranging a minimum auction price for his property that accounts for the owner's interest, plus costs and fees, conducting the on-line auction with a plurality of bidders for his property whereby at the on-line auction's conclusion there is a winning bidder and ensuring the transfer of the winning bidder's funds to the escrow holder.01-22-2009
20090024514Method and System for Process Brokering and Content Integration for Collaborative Business Process Management - Process Brokering Services (PBS) are implemented though the concept of Adaptive Documents to facilitate electronic commerce (e-commerce). PBS provides a single point of process control over the various fragmented execution flows and brings together the elements for process integration (views, content, flows) in a unified, scalable architecture on an industry standard platform. The two principal functions of the PBS are brokering of multiple business processes encapsulated in various back-end systems including workflow engines and business applications, and aggregating content from multiple enterprise information systems in the business context and managing the shared access to this based on the roles of the participants. The dynamic services provided by PBS are accessible to clients through the PBS Interface.01-22-2009
20090024516Method for directing and executing certified trading interests - Preferred embodiments of the subject invention comprise: (a) electronically receiving securities order-related data regarding a set of securities market participants; (b) electronically storing the received order-related data regarding the set of securities market participants; (c) electronically receiving a securities order-related query (or order parameters) from a first securities market participant; (d) based on the order-related query (or order parameters) received from the first securities market participant and on the securities order-related data regarding the set of securities market participants, computing a dissemination list of securities market participants based on ranking likely contras by probability of execution; and (e) transmitting that dissemination list to an entity who has been granted the privilege of receiving such lists in exchange for being contractually bound to respect confidentiality of the dissemination list and to use the list only for the purpose of sending securities-related information to members of the list.01-22-2009
20090024511Method for Settling Commodity Trades - A third party scheduling company receives future commodity transaction data from subscriber companies and identifies transactions which are circular in nature (i.e. a series of transactions which begins and ends with the same company). The scheduling company notifies the subscriber companies when a circular transaction exists to allow these companies to settle the transaction into a purely financial obligation.01-22-2009
20090024510System and method of making markets for a finite subset of orders placed across continuous and countably infinite outcome spaces - An improved system and method is provided for making markets for a finite subset of orders across continuous and countably infinite outcome spaces. To do so, a prediction market engine may be provided to support prediction markets by aggregating information about orders specifying a continuous subspace of a continuous outcome space and orders specifying a subset of a countably infinite set of outcomes. The pricing and/or quantities for orders received may be determined, a response may be sent to traders indicating the pricing or quantities of orders for payment, and the amount owed for accepted orders may be collected. Winning accepted orders may be identified and payout may be made for winning accepted orders. Advantageously, the present invention may support aggregation of more information from market participants in a prediction market to forecast the likelihood of the occurrence of a certain event.01-22-2009
20090024509System and method for settling trades - A method of settling trades includes the steps of obtaining an authenticated delivery instrument, wherein the authenticated delivery instrument is authenticated by a first exchange and may be used to settle a trade undertaken on the first exchange. An electronic proxy is issued for the delivery instrument, wherein the electronic proxy may be exchanged for the authenticated delivery instrument and where the electronic proxy is used to settle a trade undertaken on a second exchange.01-22-2009
20110225083METHOD AND INTERFACE FOR PRESENTING LAST TRADED QUANTITY INFORMATION - Trading software may receive trading information from an exchange. The trading software may use the trading information to compute an estimate of last traded total sweep quantity. The trading software may also display the last traded total sweep quantity on a trading screen.09-15-2011
20090198607ONLINE MAP ADVERTISING - Systems and methods for selecting advertisements for presentation in a map space are disclosed. Map requests are received, map spaces identified, advertisement bids are received for advertisement space within the map spaces, and advertisements are selected for presentation in the map space based on the advertisement bids. The advertisement bids can be selected through an auction.08-06-2009
20120290464SYSTEM, METHOD AND PROGRAM FOR AGENCY COST ESTIMATION - A method, system and computer program product for forecasting the transaction cost of a portfolio trade execution that may be applied to any given trading strategy or an optimal trading strategy that minimizes transaction costs. The system accepts user-defined input variables from customers and generates a transaction cost estimation report based on those variables. Two models are utilized: discretionary and non-discretionary. A specific transaction cost estimation and optimization is performed that model the transaction costs of a specific trade execution based on the user's trading profile and market variables.11-15-2012
20110145123CREDIT DEFAULT SWAP POST CREDIT EVENT - Methods, systems and apparatuses are described for determining that a credit event has occurred for an entity; determining an upfront price and a bond price for a credit default swap deliverable (CDSD) contract associated with the entity; determining a first weighting for the upfront price and a second weighting for the bond price; and calculating a settlement price for the CDSD contract that is a function of the first weighting, the second weighting, the upfront price, and the bond price.06-16-2011
20110145134SYSTEM AND METHOD FOR MANAGING TRANSACTIONS OF FINANCIAL INSTRUMENTS - A system and method for managing transactions of financial instruments that comprises generating a graphical representation having a plurality of multi-dimensional objects positioned along an axis. Each position along the axis represents a price of a financial instrument. The system receives an indication that at least one multi-dimensional object has been selected. The system generates, in response to the at least one multi-dimensional object being selected, a dialog box in the graphical representation. The system receives information relating to a transaction of the financial instrument. The information is displayed in the dialog box and comprises a desired volume of the financial instrument at a specific price. The system communicates to a remote device the information. The remote device is in communication with the processor over a network. The system receives an indication that the transaction of the financial instrument has been executed for the desired volume at the specific price.06-16-2011
20110145133System and Method for an Auction of Multiple Types of Items - An improved system and method for a computer-implemented auction in which multiple types of items are auctioned together without imposing a particular division of supply or demand among the individual types of items. In some embodiments the auction of the present invention provides a means or method for establishing prices for the types of items, wherein the prices maintain a relationship. In other embodiments, the present invention provides a means or method for implying prices from price parameters in the bids received form bidders, based on a relation among the prices for the types of items. Market clearing may be defined by the condition that the aggregate quantity bid for all types of items is less than or equal to the available quantity of all types of items. The division among the types of items within is thus determined flexibly, based on the bids at the associated prices. In other embodiments, market clearing is defined by the condition that the quantity bid for one selected type of item is less than or equal to the available quantity of the selected type of item. The quantities of the other types of items are thus determined flexibly, based on the bids at the associated prices.06-16-2011
20110145127FINANCIAL MANAGEMENT SYSTEM AND RELATED METHODS - A financial management system includes a portal which makes transaction information available to a corresponding mutual fund in real time. In one implementation, information related to multiple portals can be presented to a mutual fund. Suitable programming may optionally identify, at least partially, the users associated with transactions associated with a given mutual fund.06-16-2011
20110145128System and Method for Auctioning Environmental Commodities - An institutionally-focused, neutral auction platform is provided that may be utilized for both the primary and secondary trading of environmental commodities and instruments. The auction platform may perform an on-boarding process for auction participants. Thereafter, the auction platform initiates an auction event, in response to a request by an auctioner, based on an identified block of environmental commodities. The auction platform may also receive an indication of financial security from one or more of the auction participants. A winning bidder may then be selected based on auctioner-defined parameters. In certain embodiments, the auction platform may also perform a settlement function for the auctioner and winning bidder relating to the delivery of, and payment for, the identified block of environmental commodities. Various other services and processes may also be provided by the auction platform.06-16-2011
20110145126Dynamic Selection of a Quoting Leg Based on Liquidity - Certain embodiments of the present inventions provide for dynamic selection of a quoting leg based on liquidity. Certain embodiments of the present inventions utilize various techniques for determining the liquidity of one or more legs. Certain embodiments provide for selecting a leg to quote based on the determined liquidity. Certain embodiments provide a configuration interface for specifying techniques to be used in determining a liquidity value for a particular tradeable object. Certain embodiments provide for liquidity indicators being presented in various user interfaces.06-16-2011
20110145125System and Methods for Risk-Based Prioritized Transaction Message Flow - Various systems and methods are provided for prioritized sending of transaction messages to an electronic exchange. According to one embodiment, a system determines a priority level for each transaction message based on a potential monetary reward or risk associated with sending or delaying the message. Once the priority levels are determined, the messages may be sent based on the priority levels. Additionally, each priority level may be associated with a predetermined threshold level. If a message threshold is reached, a new message corresponding to that priority level is queued until the message may be transmitted without exceeding the threshold limit.06-16-2011
20090063322SYSTEM AND METHOD FOR REAL-TIME AUTOMATED SECURITIES TRADING - Methods for making real-time automated security trades are presented, the methods including: receiving historical market data related to a selected security; receiving affective data related to the selected security; performing an analysis on the historical market data and the affective data to produce a set of causally related input parameters, the set of causally related input parameters configured to provide a basis for determining whether to trade the selected security; receiving current market data related to the selected security; applying the current market data to the set of causally related input parameters; and automatically trading the selected security based on the applying. In some embodiments, methods further include: incorporating the current market data with the historical market data; and returning to the performing the analysis.03-05-2009
20090063324Method and system for conducting an auction over a network - A method and system for enabling a user or bidder to purchase an option on auction merchandise or services in an online auction are provided, thus allowing the option winner to purchase the merchandise in the event the original auction bidder (i.e., the highest bidder for the merchandise) defaults on his purchase. The method and system also provides an incentive to the users purchasing the option(s), e.g., bid optionees, by partially distributing the option pool of monies collected to the user who purchases the option at the price closest to the final auction price.03-05-2009
20090063323SYSTEM AND METHOD FACILITATING TRI-PARTY REPURCHASE AGREEMENT TRANSACTIONS - In accordance with at least one embodiment of the invention, a DVP repo and tri-party repo hybrid transaction is provided as well as a process for facilitating and processing such a hybrid transaction, referred to herein as a “tri-party hybrid repo” transaction.03-05-2009
20090063325Methods and Systems for Providing Qualified Dividend Income Units - In at least one aspect, the invention comprises a computer-implemented method comprising: (1) receiving investment amounts for a first class of partnership units with a senior position, with a second class having a subordinate position, wherein either: (a) options on an underlying security are bought and/or sold into the partnership, or (b) the first class of partnership units has an embedded short option on an underlying security, and the second class has an embedded long option; and (2) paying coupon payments on the first class for a specified period of time, wherein the coupon payments comprise dividend payments received on shares of a dividend-paying portfolio, wherein the second class absorbs losses in the portfolio up to a first specified amount, and wherein the first class absorbs losses above the first specified amount. Other aspects of the invention comprise related structure, software, and system implementations.03-05-2009
20090055307Priority bid processor and protocol therefore - A financial transaction system, such as an automobile bidding system is disclosed. The financial transaction system comprises a demand placement module, a supply providing module, and an algorithm linking the demand placement module to the supply providing module. The priority based processor, which is configured to correlate a plurality of demand priorities to a plurality of supply priorities such that a maximum of one match is provided between the demand priorities and the supply priorities. A priority based correlation algorithm, a priority based algorithmic process and an automobile bidding system are also disclosed.02-26-2009
20090055304SYSTEM AND METHOD FOR DETERMINING AND BROKERING FUEL EMISSION OFFSETS - A brokering system and method for providing an incentive for use of more efficient internal combustion engines and hydrogen retrofit kits is disclosed. End users of retrofitted vehicles are provided with discounted fuel costs at authorized fueling stations. The vehicle owner's savings include: a) a reduction in fueling charges because of the vehicle's new reliance on 30% less fossil fuel (which is displaced by hydrogen in the engine), and b) by the purchase of methanol which can be set at a lower cost per calorific equivalent than a barrel of oil while also earning emission offsets to be sold for cash to the end users/creators of carbon credits. In this manner, retrofitted existing internal combustion engines linked to a trust for trading emission offsets will create a consumer-driven hydrogen economy which governments as well as the automotive and petroleum sectors will endorse. Hydrogen, which is substituted for fossil fuel in a retrofitted IC engine result in emission offsets (i.e., the quantum of emissions that are no longer there) which are converted by a regulated emissions trust into cash. This income, which is deposited into the vehicle owner's bank account via the telephone network by using a dedicated hydrogen fueling card and master engine sensor linked to a specific vehicle provided with an engine retrofit kit and an on board source of hydrogen gas. The present method provides a mapping and test kit that relies on OEM engine timing and control sensors to compare engine emissions produced by fossil fuel with emissions eliminated by substituting hydrogen. This method creates consumer demand for cleanly produced sources of hydrogen (beginning with green methanol) to fuel existing OEM engines, which will in turn, induce automobile manufacturers to build more efficient IC engines until, finally, they will all be fueled by 100% hydrogen.02-26-2009
20090083174System and method for dynamic order management - Disclosed herein are systems and methods for dynamic order management. A user can specify at an order originator system an underlyer price, a pricing model, and, in accordance with the pricing model, a desired derivative price and/or desired implied volatility in the form of one or more threshold conditions at which the user desires a trade to be executed. An order executor system receives the dynamic order and a data feed having a data feed underlyer price, and, if in accordance with the pricing model, the threshold condition(s) are satisfied at the data feed underlyer price, the dynamic order is identified as being executable.03-26-2009
20120143741SYSTEMS AND METHODS FOR CONTROLLING ELECTRONIC EXCHANGE BEHAVIOR BASED ON AN INFORMED TRADING METRIC - A computerized exchange system and a method of operating a computerized exchange system are disclosed. The exchange system variably favors execution of buy trades or sell trades based on the value of an informed trading metric, thereby attempting to forestall predatory increases in order toxicity. The system includes a first network interface for receiving a plurality of securities trades, including a plurality of buy transactions and a plurality of sale transactions. A matching processor matches the securities trades to market makers. The matching processor is configured to obtain a value of the informed trading metric and to determine a buy transaction bias or a sell transaction bias based on the value of the informed trading metric. The matching processor then matches trades to market makers favoring buy transactions or sell transactions based on the determined bias. A settlement processor then settles the matched trades.06-07-2012
20100268637SYSTEM AND METHOD FOR FACILITATING TRADING OF MULTIPLE TRADEABLE OBJECTS IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method are provided for trading multiple tradeable objects. One example method includes displaying at least one combined quantity indicator representing a combined quantity associated with at least two tradeable objects, detecting an input associated with an order for a predetermined order quantity in relation to one of the combined quantity indicators, and allocating the order quantity between the at least two tradeable objects using at least one quantity allocation rule. In one example embodiment, a plurality of quantity allocation rules can be user-configurable, and different rules can be defined and applied in relation to different order types.10-21-2010
20120078777Live Alerts - Systems and methods for monitoring the trading of financial instruments are provided. Trading messages are received at a live alert server. The messages are analyzed with a set of predetermined limits and rules. When a predetermined limit or rule is violated, an email message is sent to a regulator or other trading entity. The email message may include a hyperlink that may be selected to generate a real-time report relating to the limit or rule. When hyperlink is selected, a query is sent to a query server where the real-time report is generated and transmitted back to the requesting party.03-29-2012
20120078776CONVERTING A TRADE TRANSACTION AGREEMENT INTO ALLOWABLE STRUCTURED PROJECTS - A trade transaction agreement, defined as a basket, of one or more structured products, may be converted into one or more structured products. Trade information that represents the trade transaction agreement may be initially provided or specified in various forms, to subsequently be analyzed to construct the trade transaction agreement into its corresponding structured products. The structured products are suitable for submission to post-trade processing facilities for subsequent processing thereof and are accordingly submitted. The structured products may be submitted to a variety of post-trade processing facilities, or one post-trade processing facility may be utilized.03-29-2012
20120078775Electronic call auction trading system and method - A computer-implemented method for initiating a call action trade including the steps of providing at least one user trade request to a computer system and sending out third party trade invitations from the computer system contingent upon the user trade request seeking to find liquidity for the trade request. It further includes the facilitating in the computer system an electronic trade auction between a third party having liquidity and the user for the user trade request.03-29-2012
20120078774Method and System for Calculating an Intraday Indicative Value of Leveraged Bullish and Bearish Exchange Traded Funds - A computer implemented method, system, and software for calculating and using an intraday indicative value of a leveraged Bullish or Bearish exchange traded fund (“ETF”) for arbitrage purposes, includes calculating an intraday current value of all the equity securities in the ETF (applicable only to Bullish ETFs), calculating mark to market gains or losses of at least one derivative product, and retrieving an accumulated loss or gain of the at least one derivative product and other cash equivalent amounts. The intraday indicative value of the ETF is determined by combining the calculated intraday current value of all the equity securities (applicable only to Bullish ETFs), the accumulated loss or gain, the mark to market gains of the at least one derivative product and other cash equivalent amounts. The determined intraday value of the ETF is used, by a party, for arbitrage purposes.03-29-2012
20120078773Method and System for Calculating an Intraday Indicative Value of Leveraged Bullish and Bearish Exchange Traded Funds - A computer implemented method, system, and software for calculating and using an intraday indicative value of a leveraged Bullish or Bearish exchange traded fund (“ETF”) for arbitrage purposes, includes calculating an intraday current value of all the equity securities in the ETF (applicable only to Bullish ETFs), calculating mark to market gains or losses of at least one derivative product, and retrieving an accumulated loss or gain of the at least one derivative product and other cash equivalent amounts. The intraday indicative value of the ETF is determined by combining the calculated intraday current value of all the equity securities (applicable only to Bullish ETFs), the accumulated loss or gain, the mark to market gains of the at least one derivative product and other cash equivalent amounts. The determined intraday value of the ETF is used, by a party, for arbitrage purposes.03-29-2012
20120078771Systems, Methods, and Apparatus for Creating and Trading Hybrid Derivative Financial Instruments - Computer systems, methods, and exchanges for generating and trading novel investment products (“Vχlshares”) are described. In some embodiments, the computer system comprises a computer-readable storage medium including data encoding a value for the Vχlshare based on an underlying. The computer-readable storage medium further includes data encoding an expiration date for the Vχlshare. The computer-readable storage medium of the computer further includes data encoding a price for trading the Vχlshare, the price for trading being a function of the underlying. The computer-readable storage medium also includes data encoding an alpha-numeric symbol for the Vχlshare. The computer is configured to enable execution of trades of the Vχlshare on a platform, such as options platform, an OTC platform, or a platform especially designed for the trading of Vχlshares, on which shares of fully collateralized instruments are traded.03-29-2012
20120078770METHOD FOR VALUING FORWARDS, FUTURES AND OPTIONS ON REAL ESTATE - A system and method for matching buy and sell orders is provided. A daily cash index of real estate values for a local region is maintained and a trading instrument representative of an interest in real estate in the local region is created. In this regard, a cash settlement of the trading instrument is a function of the daily cash index on the date of said cash settlement. In addition, a plurality of buy orders relating to the instrument are generated; a plurality of sell orders relating to the instrument are generated; and the buy and sell orders are matched to determine a purchase and sale of the instrument.03-29-2012
20120078769METHOD, AGENT AND COMPUTER PROGRAM PRODUCT FOR STRATEGY SELECTION IN AUTONOMOUS TRADING AGENTS - In a method of strategy selection trading in autonomous trading agents, a plurality of information is perceived regarding characteristics of an autonomous trading agent, the plurality of information is transmitted and interpreted using a plurality of agent policies, a set of acceptable trading strategies is obtained and the acceptable trading strategies are further evaluated via a utility function, and an action within the utility function is executed and bids to be traded by the autonomous trading agents on a market are sent.03-29-2012
20120078768METHOD AND SYSTEM FOR MANAGING COMMODITY TRANSACTIONS - The present invention relates to a web based system for handling commodity transactions. The system is an electronic system, and allows for the central filing, storage, issuance, maintenance, cancellation and other actions associated with electronic warehouse receipts, electronic price later credit sales contracts and electronic reports, including status and position reports.03-29-2012
20090099951ACQUISITION OF ONLINE AUCTION ITEMS THROUGH A GLOBAL POSITIONING SYSTEM - In an example embodiment, a method is provided. The method may comprise receiving an auction item identifier from a global positioning system (GPS) apparatus. Auction data associated with the auction item identifier is accessed and transmitted to a voice portal server. The voice portal server may call a telephone number and receive a request to acquire the auction item.04-16-2009
20090099955Convex parimutuel contingent claim market mechanism - A convex paramutuel call auction implemented at a central market organizer computer includes receiving orders from market participants, calculating a quantity of accepted bids for each of the orders, and communicating to the participants the calculated quantity of accepted bids for each of the orders. Each order includes a specification by a participant of contingent claims on outcomes of a future event, a limit bid price, and a limit bid quantity. The calculation involves maximizing an objective function given by an approximate profit to the market organizer plus a weighted logarithmic penalty function. Because the formulation is convex, the solution may be computed in polynomial time using standard techniques, such as a path-following algorithm.04-16-2009
20090099954Systems and Methods for Managing Zoning Information - A computer system and method that enables a user to meet the appropriate zoning, special use permit, and variance requirements for one or more zoning jurisdictions. The user may query a database for the zoning requirements and zoning requirement changes, facilitate the zoning processes, and generate deliverables for the various jurisdictions. An applicant of a zoning project may request and receive bids from contractors on the applicant's zoning project. The bid request is automatically populated with the relevant jurisdictional requirements.04-16-2009
20090099952Trading System for Handling an Order Matrix - An exchange system and a method for trading orders on an exchange market and a related broker workstation. One or more user defined order matrixes allows a user to design a trading strategy by manually, or by means of algorithms using current and/or historical market data, determine trading parameters such as part order size, price level, time delay between consecutive part orders. An order having a total volume and at least one such order matrix associated therewith is received from a market participant. The order matrix specifies predetermined portions of the order's total volume. A first portion of the order's total volume is determined in accordance with the order matrix and information is sent to display the that portion to the market. A next portion of the order's total volume is generated in accordance with the order matrix and information is then sent to display that portion to the market.04-16-2009
20080262959ELECTRONIC TRADING CONFIRMATION SYSTEM - A system and method of confirming trades of financial instruments such as OTC derivatives is disclosed. The system includes a data interface which accepts data relating to a trade from both the trader and counter party. The data includes different data fields of differing importance. The system includes a matching engine which compares the submitted data and assigns the trade a status depending on which of the data fields match. The system allows a user to filter trades on their status and display the details relating to that trade. The system also allows a user to display the data fields and change the data fields in order to change the status of the trades. The system thus allows a user to electronically confirm a trade and also identify unmatched trades and the information necessary to reconcile such unmatched trades.10-23-2008
20080262958SYSTEM AND METHOD FOR REVERSE AUCTIONING - A system and method for reverse auctioning is disclosed. A system that incorporates teachings of the present disclosure may include, for example, a system comprising a controller element to receive from a communication device a request for information associated with one or more commercial enterprises situated in a vicinity of a location fix of the communication device, identify information of one or more commercial enterprises that substantially match the desired commercial enterprise type and that are in the vicinity of the location fix, and transmit to the communication device information of at least one of the one or more commercial enterprises identified for purposes of engaging in a reverse auction. Additional embodiments are disclosed.10-23-2008
20090182657Distributed ranking and matching of messages - A method for managing messages in a computer system is described. The method comprising the steps of; receiving a plurality of order/quote messages via an input mechanism, ranking the order/quote messages based on the at least one ranking value parameter at a first ranking unit, sending at least one top ranked order/quote message from the first ranking unit to a matching unit, matching the top ranked order/quote messages at the matching unit. A computer system and a processor for inter alia performing the method are also enclosed.07-16-2009
20090006241System and Method for Displaying Multiple Charts of Related Stock Candidates and its Method - A system to display multiple charts of related stock candidates and method thereof are described. Embodiments of the present invention solves problems of limited ability to simultaneously view multiple charts. It is an object of the present invention to provide for simultaneous viewing of multiple stock charts in one screen view.01-01-2009
20090012891System and Method for Providing a Trust Associated With Long Positions in Index Futures - A system comprises a memory operable to store market data. The system further comprises a processor communicatively coupled to the memory and operable to buy a plurality of index futures. The plurality of index futures are held as long positions in a trust, and a particular index future is publicly traded on a commodity exchange. The processor is further operable to issue a plurality of trust receipts associated with the trust, wherein the plurality of trust receipts are publicly traded on at least one security exchange. The processor is further operable to post a margin with a futures commission merchant (FCM), wherein the margin is based at least in part on the plurality of index futures and the FCM makes at least one interest payment associated with the plurality of index futures.01-08-2009
20090006243Networked Electronic Trading System - There is described a networked electronic trading system in which an administration server approves each trade of electronic data corresponding to a copyright-protected work between clients of the networked electronic trading system. The administration server has a database which stores information for a plurality of electronic data files, the information for each electronic data file including a list identifying registered traders of the electronic data files. The administration server processes transaction request information identifying a buyer, a seller and an electronic data file. The administration server approves the sale of the identified electronic data file by the seller to the buyer at least partially in dependence upon if the seller is identified in the registered traders list for the electronic data file. If the transaction is approved, the administration server adds information identifying the buyer to the registered traders list for the electronic data file.01-01-2009
20110231298Diverse options order types in an electronic guaranteed entitlement environment - An enhanced system and method for handling, matching and executing a diverse group of limit-priced orders in an electronic options environment is disclosed. Most of the order types disclosed are automatically repriced and reposted as the NBBO changes to increase their execution opportunities. Market maker entitlements are integrated with the order processing, so that the market maker is guaranteed an allocation of the trade if the market maker is at the NBBO when an order priced at or better than the NBBO is received. Once posted to the order book, the displayed price of an order may be eligible for preferential execution in a market maker entitlement process, regardless of whether the displayed price is original or has been automatically repriced.09-22-2011
20110231301METHOD AND SYSTEM FOR POOLING COMPUTING SERVER RESOURCES - A method and system for pooling computing resources is provided. In an embodiment a system comprises a plurality of quotation servers connected to a quotation engine. The quotation is also connected to a clearing server. The quotation engine receives data representing quotations from different servers. The quotation engine also receives data representing actual trades from the clearing server. The quotation engine is configured to perform operations on the quotations and the actual trades in a fashion that deletes certain quotations to reduce consumption of computing resources on the quotation engine and thereby increase efficiency of processing of the quotes to arrive at a final quotation. The system also relieves processing burden on the quotation servers by shifting the processing to the quotation engine.09-22-2011
20110231302SPECTRUM MANAGEMENT SYSTEM - Transferring spectrum use rights may include ascertaining information regarding available spectrum for use in wireless communications. A request for spectrum use from a spectrum user system may be matched with available spectrum. A spectrum certificate may be issued to the spectrum user system, where the spectrum certificate contains at least one spectrum-related variable under which the spectrum user system is to engage in wireless communications.09-22-2011
20110231300SYSTEM AND METHOD FOR AUTOMATED AUCTIONING OF WEB SERVICES - An automated auctioning system includes a customer, a web services register server (such as an Extended Markup Language (XML)-based registry server like an Universal Description, Discovery and Integration (UDDI) registry) and a number of web service providers. Automated auctioning processes of a web service desired by the customer are undertaken between the potential customer and the web service providers. The potential customer issues a bid request, and each web service provider determines whether the value of a bid in response to the bid request is below a value warranted by market demand and issues the bid if the value is higher. The potential customer assesses the bid, creating a bid assessment score. The potential customer performs an iteration on the bid assessment score using a new bid request if the score has improved since a last iteration, while engaging the web service if the score has not improved.09-22-2011
20110231299System for hedging of financial risk posed by changes in public policy - The invention provides a manner of hedging or protecting against a perceived adverse financial impact associated with the occurrence or non-occurrence of prospective future changes in public policy, including—but not necessarily limited to—enactment of federal, state or local legislation; regulatory decisions; and the disposition of civil and criminal court proceedings. The machine-based implementation of the invention includes an electronic exchange platform that facilitates trading of financial contracts, whose values are derived from the occurrence or non-occurrence of specific political outcomes, via a simultaneous double auction market.09-22-2011
20090204535LARGE BLOCK TRADING - Systems and methods for administering trade orders are described. An embodiment comprises receiving, from a first server operated by a first trader, a communication including a first trade order and one or more selection criteria, the first trade order including at least one of a specified instrument, a specified quantity, and a specified price; determining that a database of trade orders does not contain a trade order matching the first trade order; identifying a plurality of traders satisfying the selection criteria; sending, to a plurality of second servers, a query including at least one of the specified instrument, the specified quantity, and the specified price; receiving, from a one of the plurality of second servers operated on behalf of a second trader, a positive response to the query; and facilitating execution of a trade between the first trader and the second trader for the specified instrument at the specified price.08-13-2009
20110231297Issuing machine and issuing system - An issuing system for issuing unmodifiable and/or unforgeable hardcopy documents or securities includes a server and a plurality of issuing machines connected to the server via a network. Each of the issuing machines receives an ID recording medium provided by a potential purchaser, retrieves an identification recoded in the received ID recording medium, requests the potential purchaser to input request for a transaction of the security or fixed rate financing instrument, processes the requested transaction by retrieving information via a network from the server, and prints out on demand a hardcopy of the security or fixed rate financing instrument as purchased by the potential purchaser and a checksum thereon. A method for forming a new market with the issuing system.09-22-2011
20110231296SYSTEMS AND METHODS FOR INTERACTING WITH MESSAGES, AUTHORS, AND FOLLOWERS - Embodiments of a search engine are disclosed that enable authors and third parties to influence the persistence and ranking of the author or the author's posts in search result listings using a bidding process or other compensation-based mechanism. In one embodiment, the search engine allows authors to submit bids in auction for ranking in order to keep their posts (or posts of other authors) visible to targeted searchers for a longer period of time than would normally be available. The bid amount, together with other attributes, can be used to determine the relevance and ranking of posts or authors provided in a search results page to a searcher. Embodiments of the search engine may be utilized with a microblogging service or a social networking service.09-22-2011
20090204533Stock trading limit order coupled link (LOCK) - This invention has the potential to generate very good return on investments from stocks that are conservative in movement. This invention will greatly benefit investors that do not have the time to constantly trade stock yet want to take advantage of normal price fluctuations. The Limit Order Coupled LinK (LOCK) invention, for example, will take a buy order, complete the transaction at the specified price, then automatically resubmits a new order to sell at a specified higher price. If specified, the process can automatically cycle through the buy-sell process a set number of time allowing the investor to take advantage of intra-day market moves and normal stock price fluctuations with no personal investor evolvement. The LOCK order, with set profit margins, allows on-line traders and brokers to place one order, which will automatically generate logical, sequenced additional orders returning a profit on each transaction. LOCK will benefit both the investor and the stock trading company.08-13-2009
20090204532GRAPHICAL TRADING INTERFACE FOR VISUALIZING STOP ORDER DATA - A computer-implemented method for visualizing trading data may be used together with a graphical user interface of a computer system. The method performs the displaying of a price range including graduated price levels for a tradable item. Data of a stop order is received and evaluated to determine price levels associated with the stop order. Further, a graphical representation of the stop order is displayed in the price range according to the evaluated data. The method may be stored as computer-executable instructions. The instructions are executable by a processor of a computer system which may include a memory for storing the instructions and a display to be used for the visualization. Moreover, a computer-readable medium may include further computer-executable instructions which may perform creating of new price levels in the price range corresponding to each determined price level and calculating executable order volumes for each price level.08-13-2009
20090248565Systems and Methods for Creating and Pricing Search Advertising Derivatives - Systems and methods for producing, valuing, and trading derivatives of advertisement inventory are described. The derivative instruments allow buyers and sellers of advertisement inventory to transact a right or obligation to purchase and receive advertisement inventory at a specified price as well as reselling and trading this right or obligation with other parties. In one embodiment, a derivative instrument allows the buyer to purchase the right, but not the obligation, to receive advertisement inventory on a later date at a pre-determined price. In another embodiment, a buyer of advertising inventory buys this right at a price as calculated by using the Merton options formula, which can estimate relevant parameters such as price history, price volatility, seasonality, and correlation with prices of other advertising inventory.10-01-2009
20090222372Method of Creating and Trading Derivative Investment Products Based on a Statistical Property Reflecting the Volatility of an Underlying Asset - A method of creating and trading derivative contracts based on a statistical property reflecting a volatility of an underlying asset is disclosed. Typically, an underlying asset is chosen to be a base of a volatility derivative and a processor calculates a value of the statistical property reflecting an average volatility of price returns of the underlying asset over a predefined period. A trading facility display device coupled to a trading platform then displays the volatility derivative based on the value of the statistical property reflecting the volatility of the underlying asset and the trading facility transmits volatility derivative quotes from liquidity providers over at least one dissemination network.09-03-2009
20090210338ANALYSIS OF PROPOSED TRADES - A rules-based schema is designed as a directed graph to model various electronic trading markets and trading constraints inherent therein such that the executability of proposed trades having multiple trade parameters can be determined by applying the trade parameters against the constraints, and confirming the executability of the trade if the constraints are satisfied.08-20-2009
20090210336SPOT EQUIVALENT FUTURES - A method and system are provided for facilitating trading of a financial derivative contract. The financial derivative contract includes a first currency and a second entity. The first currency is associated with a first underlying interest rate, and the second entity is associated with a second underlying time-dependent value. A price for the financial derivative contract is determined independently of the first underlying interest rate and the second time-dependent value. The determined price is expressed in terms of the first currency. The first underlying interest rate and the second time-dependent value are used to compute a cost of carry, which cost of carry is then periodically paid out as a term of the financial derivative contract. In this manner, a spot equivalent futures market is created without price dependence on the underlying time-dependent variables, and the contract need not have any expiration date. The second entity may be one of a second currency, a commodity, or a predetermined number of shares of a stock.08-20-2009
20090240616Establishing an Inventory Management and Trading Application for Alternative, Liquid Repurchase Agreement Markets - The invention relates to a system and method for repo trading. The invention facilitates the inventory collection, organization, and search of the long and short positions of financial instruments such as corporate bonds and equities through the provision of a database. The invention also provides users with the ability to match borrowers and lenders with opposing positions for financial instruments. In a second embodiment the invention provides a system for creating pseudo-securities, from a diverse population of corporate bonds or equities that meet parameters specified by a user.09-24-2009
20080319890System and Method of Enabling an Interactive Online Sales Process for Electronic Real Estate Transactions - An interactive online sales process is presented for electronic real estate transactions. The process includes initializing a bidding file and instantiating an electronic sale transaction based on the data in the file. Parameters of the sale can be customized by a seller or listing agent. An electronic bid can be generated and populated with input received from a buyer. The electronic bid can include standard and custom conditions. A time limit can be set to acknowledge the electronic bid. The time limit is gradually reduced, and upon expiration of the time limit, the process is suspended if the electronic bid has not been acknowledged. Once the seller acknowledges the bid, the interactive sale transaction can be resumed. An electronic bid can be tagged as being a favorite or as being the accepted bid. Upon acceptance, the transaction can complete by populating a contract form with data retrieved from the transaction.12-25-2008
20090254474System and Method for Liquefying and Extracting Liquidity fromn Illiquid Assets without Debt or Divestiture. - One embodiment of the present invention includes a system and method of liquefying an illiquid asset for the purpose of extracting liquidity. The asset owner retains ownership, control, possession, and use of the asset for the duration of a contractual period. The extracted liquidity is a portion of the value of the asset and is provided to the asset owner from an asset buyer as an earnest money purchase deposit. During the contract period the asset owner may avoid the completion of the sale of the asset to the asset buyer by various means. According to the present invention, an asset owner incurs no debt burdens, yet obtains liquidity and maintains control of the asset.10-08-2009
20090254473Coordination of algorithms in algorithmic trading engine with fast switching and safe mode - A graphical user interface is used along with an automated algorithm selection function to enable market participants to initiate automated, multi-algorithm trading strategies through a single drag and drop motion. A symbol representing a security can be dragged and dropped onto an icon representing a tactical or strategic algorithm. Other features of the graphical user interface show information such as the progress of the algorithms. Fast switching and safe mode are used to minimize a cost associated with algorithm switching.10-08-2009
20120197780System and Method for Smart Hedging in an Electronic Trading Environment - A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.08-02-2012
20090248563METHOD AND APPARATUS FOR ON-LINE AUCTIONS - An on-line (Internet or web-based) auction intended for selling real property and other unique items has several features and advantages adopted for such transactions. In one version, a descending price auction is used with the price descending at time intervals in unpredictable increments; the first bidder acquires the property. An unpublished reserve price is set initially by the seller, but he can lower the reserve price during the auction if desired. Typically the seller pays the auction organizer an up-front fee which is a percentage of the property's listing price before the auction. The buyer also pays a percentage of the purchase price to the auction organizer when the property is sold. In another type of auction, the price is incremented at amounts determined by the auction organizer, and amongst several bidders at each successive price level, only one is randomly chosen, the randomly chosen bidder is sold the property when there are no bidders at the next higher price level.10-01-2009
20090222371METHOD OF ENERGY PROCUREMENT AND SYSTEM FOR EMPLOYING - A method and system of procuring energy for a consumer from a number of wholesale parties is provided. The method includes preparing and conducting an event. Conducting the event including registering the number of wholesale parties, providing for the reception and recording of a number of offers from the number of wholesale parties, receiving a number of best offers from the number of wholesale parties, providing a first display of the number of best offers to the number of wholesale parties, providing a second display of the number of best offers to the customer, and determining a number of final winning offers from the number of best offers. The method concludes with securing energy for the customer according to the number of final winning offers.09-03-2009
20090259584BLOCK TRADING SYSTEM AND METHOD PROVIDING PRICE IMPROVEMENT TO AGGRESSIVE ORDERS - A first market participant submits an order comprising an indication of a level of visibility which the first market participant wishes to accord to notifications associated with the order. The indication of the level of visibility is independent of identities of second market participants. The notifications associated with the order are displayed on the computer systems of the second market participants only in accordance with the indication of the level of visibility.10-15-2009
20090259583Method And Apparatus For Making Markets For An electronically Traded Financial Instrument - A method and apparatus enables quick and efficient adjustment of parameters of a strategy for making markets in a financial instrument traded on an electronic exchange. Implemented in software, the market making adjustment apparatus and method employs a user GUI (Graphical User Interface) with areas of the GUI configured for adjusting market making parameters such as Book Depth, Aggression and Bias. The user is able to map the adjustment areas of the GUI to specific levels of parameter adjustment.10-15-2009
20090254471SETTLEMENT OF FUTURES CONTRACTS IN FOREIGN CURRENCIES - A method and system are provided for executing a transaction relating to a first futures contract. The first futures contract involves a tradable asset, such as crude oil or another commodity, and a first contract price and a first settlement price expressed in a first currency, such as U.S. dollars. The first settlement price is updated on a periodic basis, typically daily. The method involves providing a second futures contract having an underlying instrument that includes the first futures contract. The second futures contract includes a second latest possible delivery date and a second contract price and a second settlement price that are denominated in a second currency. The second settlement price is updated periodically. A periodic mark-to-market operation credits or debits a buyer of the second futures contract based on the periodic update to the second settlement price. Delivery of the second contract occurs when the buyer pays the current second settlement price in the second currency and receives the first futures contract. Then, delivery of the first futures contract is completed by delivering either the tradable entity or a financial equivalent of the tradable entity based on the current first settlement price.10-08-2009
20100274707ONLINE TRADING SYSTEM HAVING REAL-TIME ACCOUNT OPENING - In one embodiment, the online trading system having a real-time account opening process comprises one or more computers coupled to a network. The computers maintain a brokerage account database, and service web page requests received over the network. The web pages are preferably configured to implement a real-time account opening (RTAO) process that establishes new brokerage accounts in the account database. The RTAO process may include (a) obtaining contact information; (b) creating a new record in the brokerage account database for the contact information; (c) obtaining brokerage account application information; (d) updating the new record with the application information; (e) displaying a brokerage account contract; and (f) securing online agreement to said brokerage account contract. The process preferably also includes obtaining funding information to automatically initiate a transfer of funds to the brokerage account.10-28-2010
20090254472Cheapest unique bid - The invention differs from traditional auction methodology, wherein the highest bidder is the successful bidder, to the lowest unique bidder is the successful bidder. The invention also differs from traditional and internet auctions, in that, no bidder is aware of any other bidder's bid(s). The invention differs from all other auction methodologies in that it compensates multiple lowest unique bidders as defined in claim number 10-08-2009
20100179903SYSTEM AND METHOD FOR PURCHASING A FINANCIAL INSTRUMENT INDEXED TO ENTERTAINMENT REVENUE - A method for purchasing a securities bundle indexed to entertainment revenue comprises selecting a securities bundle offered by a special-purpose entity. The securities bundle comprises a first security and a second security and the securities bundle is associated with a closing date. The first security is associated with a first entertainment event and the second security is associated with a second entertainment event. The method continues by identifying a return value associated with the securities bundle, and by identifying a purchase price associated with the securities bundle. The method concludes by purchasing the selected securities bundle at least partially based on the purchase price and the return value.07-15-2010
20080306866AUTOMATICALLY DISTRIBUTING A BID REQUEST FOR A GRID JOB TO MULTIPLE GRID PROVIDERS AND ANALYZING RESPONSES TO SELECT A WINNING GRID PROVIDER - A method, system, and program for automatically distributing a bid request for a grid job to multiple grid providers and analyzing responses to select a winning grid provider are provided. A user at a grid client enters at least one bid criteria for a particular grid job intended for submission to an external grid environment. The grid client automatically selects at least one grid provider for the external grid environment to query for availability to process the particular grid job to meet the criteria for the particular grid job. Then, the grid client automatically distributes the criteria in a bid request for the particular grid job to the selected grid providers. The grid client stores bid responses received from the grid providers, and responsive to reaching a deadline for return of responses for the bid request, the grid client selects a winning bid response from the particular grid job from among the received responses. Then, the grid client automatically distributes the particular grid job from the grid client system to the grid provider submitting the winning bid response.12-11-2008
20080306864Electronic Trading System Supporting Anonymous Negotiation And Indicators Of Interest - A system conducts anonymous negotiations and supports indications-of-interest in trading stock. The system includes a database for storing public orders received from a public stock trading system; and a server for receiving hidden orders from a plurality of users and for conducting anonymous negotiations between first and second users with the hidden orders. The server repeatedly accesses the database to determine a match of any one of the hidden orders with any one of the public orders, and to execute a pair of orders selected from the hidden orders and the public orders. The system also transmits indicators-of-interest (IOIs) into a trading environment using the server for processing a trading order from a first user and for maintaining a profile of a user. The profile includes a current IOI setting for controlling transmission of the IOI from the user. The server responds to a toggle command from the first user to control transmission of the IOI opposite to the current IOI setting. The server responds to the IOI setting being set to allow transmission by transmitting the IOI of the first user associated with the trading order.12-11-2008
20080306865System and Method for Pricing and Allocation of Commodities or Securities - An auction server node is described for a computer network having user nodes for conducting an auction run by an auction adviser for awarding securities from an issuer to bidders of the auction. There is real-time monitoring of the auction as it occurs, a bid mechanism for receiving competitive bids from the bidders at the user nodes, including a quantity of securities to be purchased, an initial price revealed to the other bidders, and a firm price not revealed to the other bidders and within a predetermined range of the initial price. A single market clearing price is determined that allocates to the bidders all of the securities in the auction. An incremental adjustment of the market clearing price may be made by at least one of the auction advisor and the issuer, and an allocation made of the securities to the bidders at the adjusted clearing price.12-11-2008
20080306862BIDDER-SIDE AUCTION DYNAMIC PRICING AGENT, SYSTEM, METHOD AND COMPUTER PROGRAM PRODUCT - The present invention sets forth a system, method, and computer program product for automating an interaction between a buyer and an electronic, variable, dynamic pricing online auction service. The method can include receiving a registration of a buyer at an Internet enabled buyer bidding site, a portfolio, and account information. The method can also receive entered information about financial transaction instruments, contact information, and product preferences in an auction profile. The method can receive a search query for a desired product from product auctions of a plurality of auction sites and can use a search agent or a meta-search agent, and can provide returned auctions, including retrieving and presenting current status of product auctions. The method can receive a selection of returned auctions to store in the portfolio for tracking by scan agents and for bidding by bid proxies. The method can receive selections of product auctions of the returned auctions and place the product auctions into the portfolio for use by a cascaded bid proxy. The method can provide auction monitoring by scan agents of temporal progression of product auctions, and can notify someone via a messaging center of any changes in relevant aspects of the status that could prevent an initial bid from being placed by a bid proxy. The method can enable activation of bid proxies as an auction nears completion to begin placing bids until the auction is won or lost by auction closing and can confirm a counter-offer has not out-bid. The method can compute and execute another higher bid if a counter-offer has been made and accepted, higher than the most recent bid detected12-11-2008
20080306861SYSTEM AND METHOD FOR INDEX BASED SETTLEMENT UNDER PRICE PROTECTION CONTRACTS - Systems and methods for the provisioning of price protection contracts which provide price protection against adverse fluctuations in the retail price of a commodity are disclosed. While these price protection contracts may pertain to almost any type of commodity, certain embodiments of the present invention may provide systems and method for allowing a consumer to obtain price protection on the purchase of fuel. Specifically, embodiments of the present invention may provide the ability to obtain a price protection contract for the purchase of fuel where the price protection contract specifies at least one lock price, quantity, locale and time period such that the price protection contract may guarantee the right to aggregately purchase the quantity of fuel in the locale at the lock price during the time period and where purchases under the price protection contract are settled against an index price at the time of the purchase.12-11-2008
20080306863System and Method for Managing Trading Using Alert Messages for Outlying Trading Orders - According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding the outlying trading order. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.12-11-2008
20080306860ALLOCATION ENGINE FOR ENVIRONMENTALLY RELEVANT ITEMS - Methods and systems for facilitating exchange of rights associated with environmentally relevant items are provided. The methods and systems may include identifying a first environmentally relevant item, identifying a second environmentally relevant item and providing a software-based module for an allocation engine allowing at least one user to allocate at least one environmentally relevant item.12-11-2008
20100161473CONFIRMATION OF USER ACTION REQUEST - A controller confirms a user action request. The controller includes a housing body having a modified H-shape configuration. The housing body has hand grips at longitudinal ends to provide support for the user's hands to hold the controller. A command button is arranged on the housing body. The command button is configured to initiate user action requests to a computer system. A confirmation button is arranged on the housing body. When the confirmation button is pressed simultaneously with the command button, the user action request is confirmed and relayed through the computer system to a third party system.06-24-2010
20100179901SYSTEMS AND METHODS FOR PROCESSING AND TRANSMITTING TEST ORDERS - In various embodiments, test trading orders are generated, transmitted and ranked.07-15-2010
20100161475SYSTEM AND METHOD FOR AN EXCHANGE OF FINANCIAL INSTRUMENTS - Provided is a method and system for an online marketplace for the buying, selling and Servicing of financial instruments, such as accounts receivable, where the online marketplace receives and analyzes Account data from a Reporting Agency Database, such as a Consumer Reporting Agency Database. The online marketplace may include a plurality of business logic Components, including an Analysis Component, an Inventory Management Component, an Offer Component, a Transaction Component, a Post-Transaction Component, a Receivables Management Knowledge Base and a Servicing Component. The Receivables Management Knowledge Base applies industry rules and regulations to the data. Users of the online marketplace may be Account Owners, Buyers, sellers, Servicers and the like. Users flag Accounts in the Consumer Reporting Agency database to be placed for sale on the online marketplace. Users may also define Selection Criteria for automatic buying, automatic selling, alerts or other such business rules.06-24-2010
20100161472Methods, apparatus, and systems for clearing a forward capacity auction - Methods, apparatus and systems for clearing a forward capacity auction are provided. A limited number of lumpy bids and offers received in the auction are selected. A plurality of feasible price/quantity combinations may then be generated for the selected bids and offers. A minimum consumer payment may be determined from the plurality of feasible price/quantity combinations. A market clearing solution may be obtained based on the minimum consumer payment.06-24-2010
20120271755Ratio Spreads for Contracts of Different Sizes in Implied Market Trading - A method for matching orders is provided. The method includes receiving a first order for a product, the first order specifying a first volume, receiving a second order for the product, the second order specifying a second volume, wherein the first volume is different than the second volume, generating an implied order based on a ratio spread defined between the first order and the second order, and matching a third order with the implied order.10-25-2012
20120123930SYSTEM AND METHOD FOR PROVIDING ELECTRONIC PRICE FEEDS FOR TRADEABLE OBJECTS - System and methods for a price feed generation are described. According to an example method described herein, upon receiving market information including a plurality of linear prices and order quantities, a reference price level is selected and a price feed message is generated to include the reference price level and the plurality of order quantities. The price feed message is then provided to client terminals.05-17-2012
20120123929System and Method for Estimating Order Position - A system and method for providing order queue position information are disclosed. In this application, market updates are received for a tradeable object from at least one exchange. To the extent that the market updates do not include enough details to compute the queue position of a trader's working orders, estimation may be used. As a result, an order queue is generated to approximate a trader's order position in an exchange price order queue. An interface may be used to display the generated order queue estimation to the trader which provides valuable trading information.05-17-2012
20120271753Automated Securities Trade Execution System And Method - An automated securities order execution system includes order entering means for a client to enter an order and at least one filtering means for determining whether the order can be automatically executed. Routing means are used for routing the order to a destination based upon the determination made by each of the filtering means. After the order has been properly routed, the order is executed and the result of the order execution is reported to the client.10-25-2012
20120123927APPARATUS AND METHODS FOR HANDLING TRADING DATA - A manually-assisted computer and communications apparatus is provided for periodically fixing a price of a currency or commodity. Successive rate samples of said currency/stock/commodity are received from a plurality of sources (05-17-2012
20120123925SYSTEM AND METHOD FOR ROUTING A TRADING ORDER ACCORDING TO PRICE - A system for routing a trading order to a market center according to price comprises a memory and a processor. The memory stores policy information, cost information, and rebate information associated with a plurality of market centers. The processor receives a trading order specifying a trading product, a plurality of market center prices for the trading order, and best price information for the trading product. The processor adjusts at least one market center price according to the policy information of the corresponding market center and the best price information. The processor also adjusts at least one market center price according to at least one of the cost information and the rebate information of the corresponding market center. The processor then compares the plurality of market center prices, and selects a particular market center based at least in part upon the comparison.05-17-2012
20120197777Online System and Method for Issuing Collateralized Securities - A computer-implemented method for conducting a registered public offering of collateralized securities includes storing offering information in a database. The offering information is associated with a public offering of a collateralized debt security offered for sale by the issuer of the debt security. The offering information includes payment terms of a loan and a description of collateral for securing the loan, as well as the number of units of the security to be sold in the initial offering. The website is used to receive from a retail investor an offer for the purchase of the debt security directly from the issuer. The purchase price for the retail investor can be as small as $100.08-02-2012
20120197776Trade Matching Platform with Variable Pricing Based on Clearing Relationships - The disclosure describes a regulated trading platform capable of communicating with a plurality of clearing houses. In particular, aspects of the disclosure relate to providing and/or calculating differentiated prices for the same or underlying financial product/instrument capable of being cleared at different clearing houses. The trading platform may allow anonymous counterparties in a multi-clearinghouse environment, and with full transparency and improved liquidity. The trading platform may also allow for non-anonymous counterparties in some situations.08-02-2012
20120197779Trade Matching Platform with Variable Pricing Based on Clearing Relationships - The disclosure describes a regulated trading platform capable of communicating with a plurality of clearing houses. In particular, aspects of the disclosure relate to submitting enhanced request for quotes (RFQs) to request quote data with differentiated prices quotes for the same or underlying financial product/instrument based on the different clearing houses at which it may be cleared. The trading platform may allow anonymous counterparties in a multi-clearinghouse environment, and with full transparency and improved liquidity. The trading platform may also allow for non-anonymous counterparties in some situations.08-02-2012
20120271751METHOD OF COMPUTERIZED MONITORING OF INVESTMENT TRADING AND ASSOCIATED SYSTEM - A method of computerized monitoring of investment trading includes providing historic trading data for a specific trader, selecting a plurality of trading parameters for the specific trader and obtaining current information regarding the selected parameters, and/or providing historic trading data and applying rules to the current information and/or historic trading data to determine if a rules violation has occurred. The system may be employed to monitor whether market timing of mutual fund investments has occurred. A corresponding computerized system is disclosed.10-25-2012
20120271752System and Method for Integrating a Dark Trading Facility and a Securities Exchange - A system and method are described for the providing securities exchange members increased liquidity for affecting trades. Securities exchange members will have access to both a Dark Trading Facility and securities exchange for trading. When trading on the security exchange, these members will be able to access the Dark Trading Facility using the security exchange infrastructure. Further, when such members enter orders onto the Dark Trading Facility, they will have access to the security exchange display book from the dark pool of the Dark Trading Facility. The trading transactions executed in the Dark Trading Facility or initiated by the Dark Trading Facility, preferably, are automatic and anonymous.10-25-2012
20120271750System and Method for Improved Order Entry Using Market Depth - Market depth information pertaining to the hedging side is utilized to intelligently break a non-hedging order into multiple orders, such that the orders rest at cascading price levels. This way, the trader can benefit from sweeps in the book and still properly account for the market depth on the hedging side. Further, there is a greater probability of receiving “partials” on the spread order. In addition, hedge orders may be sent at multiple price levels, or sent to the market in pieces over time. By applying a more intelligent process to hedge orders (as opposed to “fire and forget”) an alternative beyond limit orders that can be logged or market orders is provided.10-25-2012
20080215476ANONYMOUS BIDDING SYSTEM - An anonymous bidding system that allows bidders to participate in a live auction by placing bids for items, but that does not disclose the identify of the bidding parties. Bidding participants may utilize a bidding device, such as a handheld device, to receive information regarding the auction. This information can include a description of the item up for auction, the asking price, and the current high bidder. By actuating the bidding device, a signal is sent to the bidding system to indicate that a bid request is being submitted. The bid request includes a bidder identifier that is unique to the bidding party, but that does not disclose the identify of the bidding party to others in the audience. Thus, the parties can participate in the live auction without drawing attention to their participation.09-04-2008
20080215473Method for Positively Identifying Livestock and Use Thereof In Legal Instruments Relating Thereto - The present invention comprises a method for identifying individual animals, and for using such identification in the creation of a secured interest therein. It relies on a unique and immutable characteristic of each animal, together with a system for representing such characteristic by a symbolic indicator. The symbolic indicator is used in instruments that create or relate to an interest in the animal, to facilitate subsequent identification of the animal, and execution of the secured interest by the secured creditor and search of recorded interests by third parties.09-04-2008
20080215474Systems and methods for management of intangible assets - Systems and methods for management of intangible assets are provided that allow effective management of intangible assets. The intangible asset management system and method include a computer based intangible asset management system for storing, managing, disseminating and sharing intangible asset information of an entity among users, the system comprising: a user interface that displays options for a user to enter, view, and edit some or all of the intangible asset information from one or more modules; a database coupled to the user interface for storing the intangible asset information and a processor coupled to the user interface and the database, the processor to: receive intangible asset information from the user; process and organize the intangible asset information into at least one module; store the intangible asset information in the database by module; update the database with any new intangible asset information received from the user; and provide the updated intangible asset information in response to an inquiry from a second user.09-04-2008
20100153254System and Method for Creating and Trading a Digital Derivative Investment Instrument - An investment instrument is disclosed that allows investors to take risk positions relative to the occurrence or non-occurrence of a contingent binary event. The contingent binary event will have one of two possible outcomes. In a digital derivatives contract, a long investor agrees to pay a short investor a contract amount in return for the short investor agreeing to pay the long investor one of two different settlement amounts depending on the outcome as the contingent binary event. Typically, one settlement amount will be zero and the other will be an amount greater than the derivatives contract price.06-17-2010
20080208729METHODS AND SYSTEMS FOR MEASURING COMPARATIVE DATA - Methods and corresponding system are provided herewith that, in at least one embodiment, include the act or acts of determining a first instance in which a first request is received by an exchange; determining a second instance in which a second request is received by the exchange, in which the second request defines a request to cancel the first request; determining a third instance in which a third request is received by the exchange, in which the third request corresponds to the first request; calculating a first difference between the second instance and the third instances; storing the first difference to a data storage, in which the data storage comprises a plurality of differences; and analyzing the plurality of differences to generate comparative information.08-28-2008
20080215478SYSTEMS AND METHODS FOR PROVIDING FINANCIAL INSTRUMENTS INCLUDING CONTRARY POSITIONS - A market for trading hedged instruments is provided. The market includes at least one hedged instrument having a value based at least on a first position on at least a first tradable instrument and a second position on at least a second tradable instrument. The second position is contrary to the first position.09-04-2008
20120197775Computer-based virtual personal economies implemented over public and private networks and methods for configuration, use and pooling of same - The present invention allows for an entity to offer assets of various types that are independent of currency and banking institution policy for investment and securitization and securely over public (WAN), semi-public (e.g. AOL) and private network or subscription network. Assets are verified through unique identification systems which provide for security even though the entity may remain anonymous and also provides for a networked portable transaction system with the identified assets. The invention allows asset holders, individually or pooled, capable of becoming their own “IPO.”08-02-2012
20110238553ELECTRONIC ACCOUNT-TO-ACCOUNT FUNDS TRANSFER - Funds are electronically transferred between a provider and a beneficiary. A provider accountholder accesses a funds transfer system to communicate with a host. The provider accountholder sends the host information sufficient to process the electronic funds transfer including designating transfer conditions to be satisfied prior to remittance of the funds from a provider account to a beneficiary account. The host receives the funds transfer request from the provider accountholder, receives authorization of the funds transfer from the issuer of the provider account, and, prior to remitting the funds, determines if the transfer conditions are satisfied. In some implementations, the funds are suspended in the provider account or transferred to a temporary account before the remittance. A system is disclosed for generating a payment card for any beneficiary account type, where the funds transfers terminates in a new account opening, followed by funding of that new account.09-29-2011
20100223177METHOD, SYSTEM AND FINANCIAL PRODUCT FOR TRANSFERRING SHARES THROUGH A PRIMARY ISSUER MARKET - A system, method and financial product for raising capital by selling the securities especially shares of equity of a company and/or entity that is privately or publicly traded in a primary issuance market between registered issuers and registered investors.09-02-2010
20100223176METHOD AND SYSTEM FOR PROVIDING AN AUTOMATED AUCTION FOR INTERNALIZATION AND COMPLEX ORDERS IN A HYBRID TRADING SYSTEM - A method of providing an automated auction for internalization for the purchase or sale of securities or derivatives in an exchange is disclosed. The method may include receiving an order at an electronic trade engine, disseminating a request for price message to at least one user in response to receiving the order, receiving a one-sided response message representative of a participant-type in response to the request for price message, selecting an allocation algorithm from a plurality of allocation algorithms, initiating the selected allocation algorithm and allocating the order according to the participant-type upon termination of the selected auction. The system may include an electronic trading engine configured to disseminate an auction message in response to an order, a database of allocation algorithms, and a trade processor for initiating an auction according the one of the allocation algorithms and terminating the auction upon defined early termination events.09-02-2010
20100223175METHOD AND SYSTEM FOR STANDARDIZING BILATERALLY-NEGOTIATED DERIVATIVE POSITIONS - A method of converting a portfolio of non-standard credit default swap (CDS) trades standardized CDS trades. The method includes receiving electronically multiple non-standard CDS trades. Each of the multiple non-standard CDS trades includes at least an initial notional amount and an initial coupon rate. The method further includes converting each of the multiple non-standard CDS trades into two standardized CDS trades. The two standardized CDS trades include a first standardized CDS trade at a first coupon rate of 100 basis points (bps) and a second standardized CDS trade at a second coupon rate of 500 bps. The method further includes determining a first notional amount for the first standardized CDS trade and a second notional amount for the second standardized CDS trade such that a sum of the first notional amount and the second notional amount is equal to the initial notional amount, and a sum of the first notional amount multiplied by the first coupon rate and the second notional amount multiplied by the second coupon rate is equal to the initial notional amount multiplied by the initial coupon rate.09-02-2010
20100217703System and Method for Smart Hedging in an Electronic Trading Environment - A system and associated methods are provided for smart hedging in an electronic trading environment. According to one example method, a first order for a first tradeable object and a second order for a second tradeable object are placed based on a spread strategy. Upon receiving an indication that a quantity of the first order is filled, the method involves determining if the second order can be used to offset the quantity filled of the first order by determining if a price of the second order would result in achieving a desired spread price defined for the spread strategy. If the price results in the desired price, the second order is used to offset the quantity filled for the first order in an attempt to achieve the desired spread price. Other tools are provided as well.08-26-2010
20090076947Universal Last Call - A method of advertising, marketing, and auction sale of real estate properties and more particularly a method of handling last minute online bidding extensions are described. An Internet website has been designed for this purpose such that prospective customers or interested bidders may view property specific photographs and other details with respect to the property on property profile pages. In the electronic bidding format, as long as at least one bid is made within an established bid period before the deadline, the bidding can be extended for a pre-determined amount of time.03-19-2009
20090076945QUICK-FILLING CUSTOMER ASSET TRADING SYSTEM FOR BOOKING ORDERS WITH MULTIPLE PROVIDERS - Apparatus and methods for use by a customer for trading assets, such as foreign exchange instruments, using a variety of trading protocols on an interconnected computer network, such as the Internet. The invention generates and displays easy-to-use, context-sensitive and meaningfully organized panels or windows containing visibly distinctive, user-activatible selectors and input controls the customer can manipulate to select and execute trades against the best available quotes as they are supplied by multiple providers. In a single-bank execution mode, the invention automatically determines the best quotes received from a multiplicity of providers and helps the customer submit a single-bank order to one of those providers. In a multi-bank execution mode, the invention automatically identifies and helps customers submit a best multi-bank order, which may comprise a combination single-bank orders split up among multiple providers who have each submitted quotes having insufficient sizes. The user also may specify other trading terms, such as trading accounts and order sizes, for the assets to be traded.03-19-2009
20090076943Systems and Methods for an Online Credit Derivative Trading System - A credit derivative trading system comprises a credit derivative authority configured to receive defined positions for credit derivatives and update a plurality of trade clients in real-time whenever there is movement in the market for a particular credit derivative.03-19-2009
20090076941Transaction Payment Instrument - A transaction payment instrument, used in purchasing a retail quantity of a fungible commodity; the instrument comprising (I) a prepaid commodity portion and (II) a promissory cash-equivalent portion. Preferably, the prepaid commodities portion is backed by futures and/or options for the fungible commodity. The promissory cash-equivalent portion is cash, check, credit card, cash card, prepaid commodity unit card, proof of identity for conducting a commercial transaction, or the likes. The transaction between the customer and the retailer typically includes the customer (A) causing commodity credits to be transferred to the retailer wherein this transfer represents the customer bartering a substantially identical quantity and quality of a commodity with the retailer in exchange for that quantity and quality of that commodity; and (B) paying the retailer for all peripheral charges associated with the physical delivery of the physical commodity—and these charges may include refining, processing, distribution, marketing, tax, etc.03-19-2009
20090076942FINANCIAL INSTRUMENTS, AND SYSTEMS AND METHODS FOR USE WITH FINANCIAL INSTRUMENTS - Variable rate of return debt instrument has principal amount (“principal”), maturity date, term, return on principal, and obligations for principal repayment by maturity date, and payment of return at maturity date. Return is indeterminable during term. A debt instrument may be ordered individually or together with another complementary debt instrument that similarly has an indeterminable return during the term, which includes a possibility of no return. Systems and methods for ordering the debt instruments are provided. When two complementary debt instruments are combined, the aggregate return of the two instruments is certain to be greater than a minimum amount greater than zero. The debt instruments can provide investor with commercial and tax advantages. Complementary combinations of debt instruments may be ordered individually. However, for convenience of purchase, investors may order a predetermined combination of two complementary debt instruments. Debt instrument may be promissory notes, guaranteed investment certificates or other forms of indebtedness.03-19-2009
20090076939CONTINUOUS BETTING INTERFACE TO PREDICTION MARKET - A user participates in trading securities in a prediction market which represent different outcomes of an event, using an interface which allows the user to understand a trade in terms of a bet. The interface also allows the user to explore different bet amounts while receiving feedback on potential payoffs in real time. In one approach, a tool is used which is moved in one direction by the user to indicate a larger trade for an outcome, or in the opposite direction to indicate a larger trade against the outcome. A bet for an outcome can be translated into a purchase of a corresponding security which represents the outcome. A bet against a particular outcome can be translated into a purchase of securities which represents all other outcomes. The user interfaces hides complexities of the market from the user while surfacing relevant information.03-19-2009
20100223178AUTHORIZATION AND CAPTURE WITH MULTIPLE CURRENCIES - Techniques are presented for authorization and capture with multiple funding sources and currencies. A transaction amount associated with a target currency is authorized from one or more funding sources, where at least one of the one or more funding sources includes funds associated with a different currency from the target currency. The funds from the different currency are calculated at authorization to cover the transaction amount and converted at settlement or capture to determine if the transaction amount is still covered at capture.09-02-2010
20100241553Method for Calculating an Index - A system and method for calculating an index relating to the trading of diamonds conforming to a particular profile, that thus makes diamonds amenable for derivative trading via futures contracts or the like.09-23-2010
20100145846SYSTEM AND METHOD FOR FACILITATING TRADING IN AN ELECTRONIC MARKET - A method and system for facilitating trading of financial instruments in a market are provided. The system comprises a server and an interface. The interface is configured to enable buy orders and sell orders to be entered. Each order has a price, a volume, and an entry time and relates to a respective futures contract The server is configured to match received buy orders having a first price to received sell orders having the first price. The match is effected by ensuring that the prices match, and then using the volume and entry time for each buy order and each sell order to assign a volume weight and a time weight, and then using the volume weights and the time weights to determine each match. The server uses the matches to complete respective trades. The volume and time weights may be adjusted based on market conditions.06-10-2010
20100241555PRICE IMPROVEMENT IN ELECTRONIC TRADING SYSTEM - Price improvement in credit screened trading systems is achieved by entering a maximum price improvement (MPI) amount with a maker quote. The system prepares separate quote queues for each trading floor including only quotes where bilateral credit exists. Quotes are arranged using Price, MPI, time priority. When a quote is dealt, a dealable price improvement is calculated as the amount of the MPI required to improve the dealt quote's position in the queue.09-23-2010
20100250429ELECTRONIC SECURITIES MARKETPLACE HAVING INTEGRATION WITH ORDER MANAGEMENT SYSTEMS - An electronic trading marketplace (ETM) communicates with interfacing modules interfacing directly with order management systems (OMS's) at trading institutions. The interfacing modules automatically transmit orders from the OMS databases to the ETM and update the OMS databases in response to orders executed at the ETM. Traders can communicate with the ETM to anonymously negotiate trades of securities.09-30-2010
20100241552Techniques for dynamically managing trading positions - Techniques to manage a position in a securities transaction. At least one embodiment pertains to adjust purchase and selling prices, as well as at least one target profit value to liquidate a plurality of positions dynamically and automatically.09-23-2010
20100241549TECHNIQUE FOR AGGREGATING AN ENERGY SERVICE - Embodiments of a system, a method, and a computer-program product (e.g., software) for aggregating an energy service from a number of participants for use by a power-system operator is described. This aggregation may be performed by an aggregator, which is between the participants and the power-system operator. In particular, the aggregator may use an embedded economic mechanism to calculate a price that matches supply (or cutback) of power and/or load from the participants with a desired supply of the power-system operator. Because the aggregator typically does not know the participants' exact propensity to respond as a function of price (supply function), the aggregator calculates the purchase price using one or more iterations in which an initial probe price is provided to the participants, and the participants respond with supply-function approximations that are valid in proximity to the current probe price.09-23-2010
20100235272ROSCA-RISK MANAGEMENT SYSTEM AND METHOD THEREOF - The present invention provides a Rosca-risk management system and a method thereof. The Rosca-risk management method conducts risk management on a Rosca group by using a processing apparatus. The processing apparatus is connected with a client through a network. The processing apparatus executes the following steps: determining a risk management term No. of the Rosca group according to a Rosca condition and a risk tolerance level of the Rosca group; determining, via the client, that a current bidding term No. of a member is not earlier than the risk management term No.; and allowing the member to enter into a bidding procedure of the Rosca group via the client.09-16-2010
20100211494System and method for improved rating and modeling of asset backed securities - The present invention provides a computer-based system for evaluating risk in asset backed securities (ABS) comprising: a database containing data associated with an asset pool of an ABS; a computer having a processor for executing software and being adapted to establish a communication link with an external provider of electronic data and to receive a first data set associated with an asset pool of an ABS, the first data set including credit score data related to the asset pool; and a migratory pattern predictive model application executed by the processor and adapted to analyze at least a part of the first data set, including the credit score data, and to determine a rating concerning the relative risk associated with the ABS.08-19-2010
20100211495SYSTEMS, METHODS AND COMPUTER PROGRAM PRODUCTS FOR IMPROVING FOREIGN CURRENCY EXCHANGE IN A COMPREHENSIVE PAYMENT HUB SYSTEM - Systems, methods, and computer program products are provided for improving foreign currency exchange processing of financial payment requests and, more specifically improving the bid/ask spread in foreign currency exchange so as to increase the profitability realized by the financial institution processing the payment. In accordance with embodiments herein disclosed, international financial payment requests are pooled together based on currency type and payment time requirements to provide for better exchange rates.08-19-2010
20100250423System and Method for a Risk Check - Various systems and methods are described herein for a risk check. The risk check bases a decision to allow a trading strategy to proceed on whether the order quantity for each leg of the trading strategy satisfies a certain condition. Particularly, when a trading strategy is initiated, the quantity for each of the orders to be submitted on behalf of the trading strategy, including the quantity of the initial order and any subsequent orders, is then compared to a corresponding risk value. If the order quantity for each of the orders is less than the corresponding risk value, then the trading strategy can proceed and the initial order can be sent on to the exchange. However, if the order quantity for any of the orders exceeds the risk value, then the initial order is not sent to the electronic exchange. Additionally, as described herein, quantity associated with the trading strategy is held or reserved for execution of the trading strategy regardless of the activity taken by the trader since the trading strategy was initiated. The reserved quantity can be drawn from the trading strategy until the quantity is depleted, the trading strategy has ended, or both, for example.09-30-2010
20090292636Method and Apparatus for Network Marketing of Financial Securities - A centralized financial market management system and method are disclosed that permit individual investors to trade over a network. The disclosed centralized financial market management system automatically identifies bids that are in proximity to one another and permits participants to negotiate directly in order to consummate a transaction. The disclosed centralized financial market management system permits each participant in the financial security trading market to have a unique definition of its market structure. A participant can establish various market segments, each corresponding to a group of other market participants, within the push market where bids are posted. Thus, the submitter of a bid (buy or sell) can narrowly focus the bid on select market participants. A large transaction (buy or sell) can be divided by the bid submitter into smaller units and divided over a number of market segments.11-26-2009
20100250427MANAGING SALES OF SECURITIES AND FINANCIAL DATA - A computer program stored on a computer readable recording medium usable for the sale of securities. The computer program facilitating the transfer of documentation between a shareholder, a broker, a transfer agent, the company and legal review. The computer program providing remote access to centralized data provided by each of the participants in the sale to promote the speed of the sale and guarantee the regulatory propriety.09-30-2010
20100250428METHODS AND SYSTEMS FOR PLACING, TRANSMITTING, AND RANKING TRADING ORDERS - In various embodiments, real and test trading orders are processed and results are transmitted back to the entities originating the orders.09-30-2010
20100250425TRADING SYSTEM WITH PRICE IMPROVEMENT - A computer trading system has price improvement features.09-30-2010
20100211496SYSTEM AND METHOD FOR FACILITATING TRADING IN AN ELECTRONIC MARKET - A method and system for facilitating trading of financial instruments in a market are provided. The system comprises a server and an interface. The interface is configured to enable buy orders and sell orders to be entered. Each order has a price, a volume, and an entry time and relates to a respective futures contract. The server is configured to match received buy orders having a first price to received sell orders having the first price. The match is effected by ensuring that the prices match, and then using the volume and entry time for each buy order and each sell order to assign a weight of time relative to volume, and then using the weights to determine each match. The server uses the matches to complete respective trades. The weights may be adjusted based on market conditions.08-19-2010
20110022511Balancing Arbitragable Tracking Securities - A financial product is based on a first fund that is traded on a trading marketplace in a first country. The financial product is registered in the first country. The first fund has the characteristics of being based on an index of securities that are traded in a second, different country. The first fund is arbitragable with a second fund that is based on the index and which is registered in a second different country. The first fund has a creation unit basis that is substantially the same basis as a creation unit basis for the second fund. The calculation of the net asset value of the first fund occurs at essentially or exactly the same time that second country fund has its NAV calculated. The agent for the first fund has the option of providing or accepting second fund shares or other securities, rather than cash, to cover “cash amount” obligations. Such obligations arise from the need to equate the value received or given for the first fund shares (e.g., the creation unit stock basket plus or minus the “cash amount”) with the NAV of the first fund shares that it has issued or received.01-27-2011
20130218739Secure Consolidated Exchange Feed for Order Entry and Market Data - Systems and methods are presented for communication of financial messages from an Exchange to market participants whereby messages directed to particular market participants may be consolidated with other messages directed to all market participants and communicated via the same communications medium while preserving the anonymity of those market participants to which messages are particularly directed. Accordingly, redundant communications are eliminated, reducing the overall volume of communicated data and the resources necessary in support thereof; inhibition of any one market participant intentionally or unintentionally influencing the market via exposure of their activities, or otherwise unfairly impinging on the exposed activities of other market participants, is maintained; and inequitable information access is eliminated as the consolidated messages are transmitted to all market participants substantially simultaneously over the same medium thereby minimizing or eliminating any advantage or opportunity one market participant may have to receive market information ahead of the other market participants.08-22-2013
20130218741SYSTEMS AND METHODS FOR ELECTRONICALLY INITIATING AND EXECUTING SECURITIES LENDING TRANSACTIONS - Systems and methods are provided for conducting securities lending transactions using an electronic trading platform. In accordance with an implementation, the electronic trading platform receives, from a trader, order data comprising a plurality of orders to lend or borrow shares of securities, and information identifying a matching criterion associated with a transaction to lend or borrow the shares. The electronic trading platform identifies a counterparty capable of fulfilling at least a portion of the orders in accordance with the proposed matching criterion. The electronic trading platform may then execute transactions between the trader and the identified counterparty to lend or borrow at least a portion of the shares in accordance with terms of an active bilateral agreement between the trader and the identified counterparty.08-22-2013
20130218742METHOD AND SYSTEM OF PRICING FINANCIAL INSTRUMENTS - Some demonstrative embodiments of the invention include a method and/or system of pricing a financial instrument. The method may include receiving trade information of a plurality of traded financial instruments, the trade information including trade information related to a plurality of market prices corresponding to the plurality of traded financial instruments; determining at least one set of market parameter values based on a predefined criterion that relates to a plurality of sets of one or more of the plurality of market prices and to a plurality of sets of one or more model prices that are calculated for the at least one set of market parameter values by a pricing model using the trade information; and estimating a price of the financial instrument using the pricing model based on the at least one set of market parameter values.08-22-2013
20130218743FORWARD-LOOKING TRANSACTIVE PRICING SCHEMES FOR USE IN A MARKET-BASED RESOURCE ALLOCATION SYSTEM - Disclosed herein are representative embodiments of methods, apparatus, and systems for distributing a resource (such as electricity) using a resource allocation system. One of the disclosed embodiments is a method for generating a bid value for purchasing electricity in a market-based resource allocation system. In this embodiment, a desired performance value indicative of a user's desired performance level for an electrical device is received. Price information from an electricity futures market is received. A bid value for purchasing electricity from a local resource allocation market sufficient to operate the electrical device at the desired performance level is computed. In this embodiment, the computing is performed based at least in part on the desired performance value and based at least in part on the price information from the electricity futures market.08-22-2013
20130218744FORWARD-LOOKING TRANSACTIVE PRICING SCHEMES FOR USE IN A MARKET-BASED RESOURCE ALLOCATION SYSTEM - Disclosed herein are representative embodiments of methods, apparatus, and systems for distributing a resource (such as electricity) using a resource allocation system. One of the disclosed embodiments is a method for generating a bid value for purchasing electricity in a market-based resource allocation system. In this embodiment, a desired performance value indicative of a user's desired performance level for an electrical device is received. Price information from an electricity futures market is received. A bid value for purchasing electricity from a local resource allocation market sufficient to operate the electrical device at the desired performance level is computed. In this embodiment, the computing is performed based at least in part on the desired performance value and based at least in part on the price information from the electricity futures market.08-22-2013
20130218745SYSTEM AND METHOD FOR MANAGING AND EVALUATING NETWORK COMMODITIES PURCHASING - One or more price metrics are generated by retrieving, from a database, one or more price data sets representing a specified time period. Each of the retrieved price data sets includes at least a parameter value, a quoted cost, and a selling unit of measure for at least one item, and is responsive to a product specification data set that includes at least one parameter value and a unit of measure for each of one or more items. In at least one embodiment, a combined item price total is divided by a combined item unit total to generate a metric price per unit for each item in the product specification data set. In another embodiment, a summed individual metric price per unit is divided by the number of individual metric prices to generate an overall metric price per unit for each item in the product specification data set.08-22-2013
20130218747Implied Volatility Based Pricing and Risk Tool and Conditional Sub-Order Books - The Book Order Management (BOM) system provides a fully automated and efficient electronic trading environment for derivatives trading. The BOM system allows traders to electronically, in real time, both make two sided markets in any option or combination of options, and issue quotations for immediate use, so that the trader providing the quotation has the opportunity to re-evaluate and change markets if conditions change. The BOM system provides a way to efficiently determine whether the conditions placed on a contingent order are met and guaranteed, using a lock (freeze) and reserve procedure.08-22-2013
20100088212SYSTEMS AND METHODS FOR MATCHING ONE OR MORE INCOMING ORDER TO A STANDING ORDER AS A FUNCTION OF AN INNER MARKET PARAMETER - A method of order allocation is disclosed. The method includes receiving an incoming order, establishing an inner market representing a first portion of an order book which may be defined as a function of an inner market parameter, designating the first portion of the order book as a priority and allocating the first portion of the received incoming order based on the priority, establishing an outer market that represents a second portion of the order book that includes the remainder of the order book not represented by the inner market of the order book, assigning the received incoming order to one of the inner or outer markets as a function of the inner market parameter, allocating a first portion of the incoming order to the inner market utilizing a first-in, first-out (FIFO) algorithm, and allocating a second portion, in excess of the first portion, of the incoming order to the outer market using a pro-rata algorithm.04-08-2010
20110131129Tradable Investment Unit - A tradable investment unit is an inseparable combination of a predetermined quantity of a tradable security together with a put option contract for the predetermined quantity of the tradable security. The combination will specify the minimum price and thereby the maximum potential loss of the tradable investment unit to purchasers. The profit potential will be unlimited as the price of the tradable security increases above the cost of the tradable investment unit.06-02-2011
20100057608System and methods for processing open-end mutual fund purchase and redemption orders at centralized securities exchanges and other securities trading and processing platforms - A system for processing traditional open-end mutual fund purchase and redemption orders at a server at designated Exchange(s) for receiving order messages from at least one of a plurality of Brokers and Member Firms, the server having at least one processor and memory for storing routines operable to process individual or aggregated order messages, preferably based on a prioritized set of business rules, and/or match the purchase and redemption orders, reformat the orders, and transmit the reformatted orders to at least one of a plurality of Fund/Securities Clearing Agents, Funds/Transfer Agents and Depositaries for confirmation, and clearing and settlement of issuance and redemption orders for mutual fund shares, as well as payment of mutual fund dividends.03-04-2010
20100057603METHOD AND APPARATUS FOR TRADING FINANCIAL INSTRUMENTS BASED ON A MODEL OF ASSUMED PRICE BEHAVIOR - A model of assumed price behavior of a financial instrument is used in trading the financial instrument. The model includes one or more analytic levels containing analytic values divided into nodes where each node is associated with a future price indicator (such as a price offset) of the financial instrument for a particular look ahead interval. For each analytic level of the model, a current analytic value is related to one of the nodes of that analytic level and a trade order is generated when the future price indicator associated with a node to which the current analytic value relates meets a trader's criteria for trading the instrument. Generated trade orders may rest on the book or be filled immediately. Resting orders may be re-priced as market conditions or current analytic values change. Optionally, a trader may specify an edge that triggers submittal of the trade order to an exchange when the future price indicator meets the inverse of the specified edge value. For round trip orders, the trader may specify a hedge offset that is added to the trade price calculation to help ensure the second leg of the round trip order gets filled. Trade orders may be generated when one or all analytic levels of the model indicate favorable trading conditions.03-04-2010
20110238554SYSTEM AND METHOD FOR DIRECT CLIENT ACCESS FOR MANAGEMENT OF SECURITIES TRANSACTIONS - A computer implemented system and method provides for transmission of a parent shell order of which no portion is placed for execution until a respective child order is obtained. The shell order can be received from a device of an exchange member on behalf of a member's customer and the child orders can be received directly from a device operated by the customer.09-29-2011
20120143745Method and Apparatus for Processing and Routing Transactions - Option orders are processed by receiving an option order, the option order including information identifying a customer, and information identifying a desired option. One of a plurality of option exchanges is selected to complete the option order, the selecting based on information identifying the customer and the desired option. In some embodiments, a routing rule is selected based on the information identifying a customer.06-07-2012
20120246058METHOD OF COMPUTERIZED MONITORING OF INVESTMENT TRADING AND ASSOCIATED SYSTEM - A method of computerized monitoring of investment trading includes providing historic trading data for a specific trader, selecting a plurality of trading parameters for the specific trader and obtaining current information regarding the selected parameters, and/or providing historic trading data and applying rules to the current information and/or historic trading data to determine if behavior of interest which may involve a rules violation, a departure from the rules which is not technically a violation or a potential departure from the rules which might make desirable further investigation has occurred. The system may be employed to monitor whether market timing of mutual fund investments has occurred. A corresponding computerized system is disclosed.09-27-2012
20120246054REACTION INDICATOR FOR SENTIMENT OF SOCIAL MEDIA MESSAGES - A reaction indicator in the form of a graphical user interface is disclosed. The reaction indicator combines sentiment and intensity data relating to an asset for use in real-time evaluation of publicly traded assets, in particular equities and commodities. The reaction indicator includes graphic objects displayed upon a monitor that depict social media market sentiment, a timeline slider object, and a vertical bar chart object. The sentiment is derived based upon pairs of lexical items in local syntactic context found in a volume of social media messages.09-27-2012
20120246051Opening Price Process For Trading System - A system for determining an opening price for products traded over a distributed, networked computer system is described. The system includes a plurality of workstations for entering orders for financial products into the distributed, networked computer system, said orders specifying a quantity of the financial product. A plurality of workstations for entering orders and a server computer coupled to the workstations, said server computer executing a server process that determines an opening price for the product. The opening price process posting an allocation message to market maker participants to communicate an expected allocation of the imbalance for execution at an initial opening of the market in the event that the imbalance exists at the opening.09-27-2012
20100057600FINANCIAL TRADING SYSTEM - Disclosed is a computer-implemented system for facilitating generation of a computer-executable financial trading strategy, the system being adapted to provide a graphical user interface for defining a financial trading strategy by arranging interconnectable building blocks into a diagram on a drawing pane provided by the graphical user interface, each building block representing a functional system component of the financial trading strategy; wherein the system includes a plurality of types of functional system components, wherein the drawing pane includes a corresponding plurality of sub-panes, and wherein the system is configured to provide functionality for a user-controlled placement of building blocks into the sub-panes corresponding to the respective types of building blocks.03-04-2010
20090327118METHODS AND APPARATUS FOR ELECTRONIC COMMERCE USING AGGREGATED CONSUMER INTEREST - This present subject matter includes a method for processing product selections by a plurality of consumers operating one or more web browsers, comprising collecting electronic information, including product identifying information, about the product selections by each consumer of the plurality of consumers, the product selections selected by the plurality of consumers from offerings at a plurality of disparate websites, associating information related to a consumer identified with a particular product selection with the product identifying information, associating the product identifying information with a Universal Product Code (UPC) for the product selections, aggregating the electronic information in a database, the information categorized by each consumer and UPC code, processing counts of selections by the plurality of consumers organized at least by UPC code, requesting product fulfillment bids from one or more suppliers using the counts and obtaining one or more product fulfillment bids from the one or more suppliers. Other examples provide a method for processing service selections by a plurality of consumers operating one or more web browsers.12-31-2009
20100198719Systems and Methods for Executing Only At Best Trading Orders - Systems and methods of trading items on an electronic trading system according to the invention are provided. According to an embodiment, the electronic trading system processes a new order type that is an only at best order type, whereby trades are preferably only executed at the best price the item is being bought or sold.08-05-2010
20100191642System and Method for Dynamic Quantity Orders in an Electronic Trading Environment - A system and method for dynamic quantity orders in an electronic trading environment are described. According to one method, a dynamic quantity order includes a price, a desired order quantity and a percentage associated with an estimated order quantity that will be filled in an order queue. When the order is received at an electronic exchange, the order is sorted into a pro-rata order queue, and the exchange may estimate a potential order quantity that will be filled in the order queue at the price based on the defined percentage. Subsequently, the exchange may then increase the order quantity of the dynamic quantity order so that if the estimated number of fills occurs, the order quantity of the dynamic quantity order will be filled.07-29-2010
20100191638MULTICOMPUTER DISTRIBUTED PROCESSING OF DATA RELATED TO AUTOMATION OF TRADING - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.07-29-2010
20100191643NETWORK AND METHOD FOR TRADING DERIVATIVES - A computer network and method for electronically trading derivatives. The system includes networks and methods where a control or network managing station in the network acts as a facilitator for the market makers and subscribers to make a trade at an Exchange. In another embodiment the network managing station consummates the trade between a market maker and a subscriber by matching binding quotes and orders and clears the trade at an Exchange. The computer network for electronically trading derivative comprises: (a) network managing station; (b) one or more market maker stations; (c) one or more subscriber stations; (d) one or more Exchanges. The network managing station connects market makers and subscribers for making real time indicative quotes, issuing requests for quotes, obtaining binding quotes and wherein the market maker and subscriber are in communication with an Exchange for sending binding quotes and orders to the Exchange for clearing and confirming transactions.07-29-2010
20100191640Automated Trading System for Routing and Matching Orders - An automated system for matching orders from a virtual trading crowd in an exchange configured for trading securities or derivatives is disclosed including an electronic trade engine operative to receive an order or a quote for a security or derivative at the exchange, the trade engine further operative to disseminate a request for a price message to a plurality of market makers quoting a class in response to receiving the order or the quote, an electronic book in communication with the electronic trade engine, the electronic book operative to store at least one order or quote received by the electronic trade engine, a database including an allocation algorithm, the database in communication with the electronic trade engine, and a trade processor in communication with the database, the trade processor operative to analyze and execute orders or quotes according to the allocation algorithm selected from the database.07-29-2010
20100191639EXCHANGES FOR CREATING AND TRADING DERIVATIVE SECURITIES - A computer system (07-29-2010
20100191637INTERPROGRAM COMMUNICATION USING MESSAGES RELATED TO GROUPS OF ORDERS - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.07-29-2010
20090204534METHOD AND SYSTEM FOR PROVIDING ORDER ROUTING TO A VIRTUAL CROWD IN A HYBRID TRADING SYSTEM AND EXECUTING AN ENTIRE ORDER - A method of providing orders to a virtual trading crowd in an exchange prior to automatically linking the order to an away market includes receiving a marketable order at the exchange, wherein the exchange price differs from a national best bid or offer (NBBO) price, routing the order to a trade engine, disseminating a request for price message, the request for price message including a price equal to the NBBO price, receiving a response message, initiating a quote trigger, wherein the quote trigger occurs for a period of N seconds, allocating at least a portion of the order according to an allocation algorithm, wherein an order size of each market maker is capped to prevent inflation of an allocated portion of the order, and allocating any remaining portion of the order to at least one predetermined market maker guarantor for execution at the NBBO price.08-13-2009
20090319418System and Method for Dynamically Regulating Order Entry in an Electronic Trading Environment - A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.12-24-2009
20090319417Method and System for Providing Aggregation of Trading on Multiple Alternative Trading Systems - A method for performing financial trading amongst a plurality of alternative trading systems using a common financial computer platform. The method including the steps of receiving at the common financial computer platform a buy-order for a prescribed number shares at a prescribed price. Electronic communication is then established between the common financial computer platform and each of the plurality of alternative trading systems. At least a portion of the buy-order is then submitted from the common financial computer platform to each of the plurality of alternative trading systems. The common financial common platform then monitors each of the plurality of alternative trading systems to determine if at least a portion of the buy-order was executed by one of the plurality of alternative trading systems. And if yes, then that indicated execution for one of the plurality of alternative trading systems is automatically accepted and automatically canceled are the remaining buy orders that were submitted to the other alternative trading system which were not yet executed.12-24-2009
20090319416METHOD OF STRUCTURING REAL ESTATE ASSETS - An system for and method of divesting real property is presented. The system and method improve upon prior art techniques by including one or more of the following advantages: the gain may be immediately booked, there may be no capitalization requirements as there may be on a financing lease, and the gain may avoid Federal income taxation and capital gains taxation.12-24-2009
20090204536METHODS AND SYSTEMS FOR NETWORK LOAN MARKETING - Methods and systems for trading financial products such as loans over a network such as the Internet that includes receiving information relating to the financial product offered for sale on behalf of a seller, making the information relating to the financial product available over the network, receiving a bid from a buyer, wherein the bid comprises at least an amount offered to purchase the loan, and performing due diligence on the financial product. Methods and systems also include storing the information in a data storage medium at a central location to be searched by potential buyers, the information being accessible via, for example, the Internet.08-13-2009
20100268635CREDIT INDEX, A SYSTEM AND METHOD FOR STRUCTURING A CREDIT INDEX, AND A SYSTEM AND METHOD FOR OPERATING A CREDIT INDEX - The present invention relates to a credit index, a system and method for structuring a credit index, a system and method for operating a credit index, and a system and method for determining the liquidity of a credit.10-21-2010
20090319419Method and apparatus for executing a win, lose or draw derivative contract - Methods and systems are disclosed for executing a fixed-payoff derivative contract between two parties that provide the opportunity to speculate on the movement of single-stock equities, equity indexes, bonds, commodities and currencies in a manner that eliminates the cost of an option premium. The invention, henceforth referred to as a “Win, Lose or Draw” derivative contract, is a cash position for or against the occurrence of a designated price event above an underlying financial instrument's spot price before a designated price event below an underlying financial instrument's spot price, or vice versa, within a designated time period. If neither designated price event occurs within the designated time period, no loss of cash position is incurred by either party. Additional embodiments include the application of asset-backed contracts, transferable positions, multiple underlying financial instruments within the same contract, and expirationless time periods.12-24-2009
20090150282MARKET-INDEXED MORTGAGE SYSTEM AND METHOD - A market-indexed mortgage system and method are provided that enable one or more borrowers to finance or refinance a real estate property and have at least a portion of the payments indexed to local relevant real estate values. The mortgage loan provides upfront liquidity to purchase or refinance the property; the borrower has payment stream going back to a lender (or holder of the note) wherein one or more payments are adjusted or determined based on the index. Such market-based mortgage loans can be pooled in a fund and fund shares can be issued against the fund. The mortgage can be a residential mortgage in which the regular (e.g. Monthly) payments (interest and or principal) fluctuate with a price index for the local house market. Balance upon prepayment can also fluctuate with such an index.06-11-2009
20110238555METHOD AND SYSTEM FOR ELECTRONIC TRADING FROM SMART PHONES AND TABLET COMPUTERS - A method and system for electronic trading from smart phones and tablet computers. A selection input (e.g., a bar code, alphanumeric form, etc.) is received from a camera component on a smart network device application on the smart phone or tablet including one or more trading orders to execute one or more electronic trades. The one or more trading orders are extracted from the selection input on the smart network device application. The one or more electronic trades are automatically executed using one or more electronic trading orders extracted from the selection input from an Ask Bid Volume/Aggregated Book View (ABV) window with a dynamic price column.09-29-2011
200901127512-Phase auction design and implementation - A system and method for implementing and conducting a 2-phase clock and sealed-bid auction for a multi-part product includes more than one remote computer stations connected to a network, a web server to receive and store bid information and auction parameters. The web server can include application software configured to initiate a clock phase and a sealed-bid phase. The clock phase generally includes presenting bidders with an initial price structure for the multi-part product, receiving bids from each of the bidders, storing the bids, and comparing the bids to a transition rule. The software can initiate the sealed-bid phase based on the comparison between the bids and the transition rule. The seal-bid phase generally includes providing sealed-bid parameters to the bidders, receiving a sealed-bid from the bidders, and determining an auction winner based on a selection rule.04-30-2009
20090112750Concisely Expressed Combinatorial Auction Problem Solving Method - In a method of determining an optimal allocation in a combinatorial auction, a plurality of bids is received. Each bid includes a plurality of sub bids. Each sub bid includes either one good and a price associated with the good or a logical operator logically connecting at least two child sub bids and a price associated with the logical operator. For each sub bid, the price associated with the good or the logical operator is either an explicit price that is included with the sub bid or is assigned a value of zero when the sub bid does not include an explicit price. An objective is defined for the plurality of bids. For each bid, a plurality of mathematical relationships collectively representing the bid without logical operators is defined. The received bids are processed to achieve the objective subject to the mathematical relationships.04-30-2009
20080270284OVER THE COUNTER TRADED PRODUCT AND SYSTEM FOR OFFSET AND CONTINGENT TRADING OF COMMODITY CONTRACTS - A method for facilitating the offset or contingent trading of commodity contracts comprising: providing a futures exchange wherein a futures or option contract based on a first commodity of a commodity type is traded; and automatically registering a trade of the futures or options contract on the futures exchange at a market price for the futures or options contract when an over the counter contract for a second commodity of the commodity type is traded. In certain embodiments, the invention is an over the counter product comprising: a first leg comprising a purchase or sale of a futures contract based on a first commodity; and a second leg comprising a sale or purchase of an over the counter contract based on a second commodity; wherein the first commodity and the second commodity are of the same commodity type and the over the counter traded product trades at a price differential between the two legs; and wherein the purchase or sale of the futures or options contract is automatically registered on a futures exchange when the sale or purchase of the over the counter contract occurs. A system for offset or contingent trading of commodity contracts is also disclosed.10-30-2008
20120143746METHOD AND SYSTEM FOR PRICING AND ALLOCATING SECURITIES - A method and system for pricing and allocating identified securities of a company on a registered securities exchange, as opposed to an off-market offer. A host computer system receives bid data indicative of one or more bids for the identified securities from one or more eligible investors. Novel methods and algorithms are applied in a determination of at least one price of the identified securities and an allocation of the identified securities to the one or more eligible investors.06-07-2012
20100299238Method for valuing forwards futures and options on real estate - A system and method for matching buy and sell orders is provided. A daily cash index of real estate values for a local region is maintained based on real estate transactions and/or real estate transactional activity, and a trading instrument representative of an interest in real estate in the local region is created. In this regard, a cash settlement of the trading instrument is a function of the daily cash index on the date of said cash settlement. In addition, a plurality of buy orders relating to the instrument are generated; a plurality of sell orders relating to the instrument are generated; and the buy and sell orders are matched to determine a purchase and sale of the instrument.11-25-2010
20100049649Methods and Apparatus Relating to the Formulation and Trading of Investment Contracts - A data processing system to enable the formulation of multi-party investments contracts is disclosed. The system comprises input means by which an ordering party can input contract data relating to at least one phenomenon, the phenomenon having a range of future outcomes and a future time of maturity. The contract data further includes a set of probabilities of occurrence for each outcome in the range and a consideration due to a counterparty at or after the time of maturity. One or more counterparties can input registering data including a set of probabilities of occurrence for each outcome in the range. The system further includes a data processor that is operable to price and match a contract from the contract data and the registering data. The pricing includes applying at least one template of entitlement as a function of outcome to each counterparty's set of probabilities to give one or more individual counterparty prices each equal to the ordering party's consideration, and further, applying the ordering party's set of probabilities to each template to derive an implied entitlement. The matching includes determining which counterparty will provide the best entitlement on maturity by comparing each implied entitlement with the consideration, and matching the contract with the counterparty having the template for the best comparison.02-25-2010
20110112951METHOD AND SYSTEM FOR LOCAL CURRENCY BACKED BY A VALUABLE ASSET - A local currency system and method are disclosed, the system and method providing for partially backing a local currency with a valuable asset. The currency system includes a local currency and a currency issuer. The currency issuer issues the local currency in an issuing exchange for legal tender, and purchases the valuable asset with at least a portion of the legal tender received in the issuing exchange. The valuable asset is held by the currency issuer, and can be sold by the currency issuer to cover a redemption exchange where the currency issuer receives the local currency and disburses the legal tender. The currency issuer can include one or more automated teller machines configured to perform the issuing and redemption exchanges. The currency issuer can have a computer system with a database configured to track the issuing and redemption exchanges, and regulate purchasing and selling of the valuable asset.05-12-2011
20090182659Method of selling using auction style bidding - The invention relates to an auction like bidding process establishing the value of an asset; the sale of the asset going to whomever pays first. This differs from the established auction protocol where the seller is obliged to pass the asset to the highest bidder. With this method, the seller's contractual obligation does not limit the seller to transferring ownership rights to the participants in the bidding process.07-16-2009
20100325033UPSIDE FORWARD WITH EARLY FUNDING PROVISION - A system for and method of providing a forward contract with an upside return and the possibility of early valuation are presented. The prices of the underlying financial instruments are allowed to float to a limited extent. Moreover, the party taking the short position is allowed to cash out early, without having to unwind the entire contract. The contact may be used, for example, by a corporation that wishes to raise capital using equity instruments.12-23-2010
20090070251System and method for payment over a series of time periods in an online market with budget and time constraints - An improved system and method is provided for using sampling for scheduling advertisements in an online auction with budget and time constraints. A multi-armed bandit engine may be provided for sampling new advertisements by allocating advertisements for web page placements of equal quality and optimizing payments to maximize the welfare of the advertisers while remaining within advertiser's budget and time constraints. Advertisers may report their private information including arrival time, departure time, value per click, and budget. And the multi-armed bandit mechanism may approximate the maximal welfare that may be achieved under budget and time constraints by bounding the possible gain from any possible lie an advertiser might submit in reporting private information. Advertisers departing from the online auction may be charged using a payment method that may provide truthful guarantees on budget, arrivals, departures, and valuations for a budget-constrained online auction.03-12-2009
20090070250Routing of orders in equity options by means of a parameterized rules-based routing table - An enhanced system and method for the “smart” routing of orders in an electronic options environment is disclosed. The method of routing includes different rules and protocols for orders that are allowed to route using a traditional intermarket linkage than for orders that are allowed to route using an alternative private direct connection or third-party service provider. The system and method of routing has at its basis a configurable, rules-based routing table that allows orders to be routed using different protocols based on the account type of the incoming order.03-12-2009
20090070249CONTINGENT EVENT RIGHTS RELATING TO TEAM LOCATION - The present invention relates to an integrated rights marketplace providing a platform for exchanging a right, the right being subject to a contingency, wherein the right relates to a right to an item associated with a sports team and wherein contingency relates to the location of the sports team.03-12-2009
20090037320System and Method for the Automated Brokerage of Financial Instruments - Disclosed herein in a preferred embodiment is an automated financial instrument brokerage system wherein a front end layer interacts with customers to generate activity requests for an intermediate layer. The intermediate layer preferably processes the activity requests and places financial instrument orders on a financial market if appropriate. A backend layer preferably provides data to the intermediate layer for processing activity requests. Multiple heterogeneous front end customer applications may be supported by the same intermediate layer. Further, multiple backend layer applications may interact with the intermediate layer in a manner transparent to the front end layer. Further, scalability can be achieved be partitioning various tasks of the intermediate layer onto separate servers, and more preferably on separate redundant servers. Load balancers may then be used in the intermediate layer to provide distributed access to these servers. Also disclosed herein is a caching technique whereby turnaround time for processing activity requests can be reduced by reducing the number of times that the intermediate layer needs to interact with the backend layer.02-05-2009
20090037316Allocating Goods to Bidders in Combinatorial Auctions - Embodiments are directed to systems, methods, and apparatus for allocating goods to bidders in combinatorial auctions. In one embodiment, bids are received in a combinatorial auction and the winner determination problem is modeled as an interval knapsack problem (I-KP) or an interval multiple-choice knapsack problem (I-MCKP), efficient algorithms (both pseudo-polynomial-time exact algorithms and FPTAS) for I-KP (and I-MCKP) are used to compute an allocation of goods to winning bidders.02-05-2009
20090037315System and method for brokering agents and auditionees - Example embodiments relate to methods and systems for ranking a content submitted by an auditionee. The method may further include retrieving the content stored in a talent broker management system by a user, reviewing the submitted content, rating the content based on a ranking score, recording an IP address of the user, recording the submitted ranked content, and determining whether the user is a duplicate user that rates the same submitted content, wherein when the user is determined a duplicate, the system may reduce the ranking score of the duplicate user. The method may also allow auditionees to bid their submitted video to be displayed for a particular time slot.02-05-2009
20110010287SYSTEMS, METHODS AND COMPUTER PROGRAM PRODUCTS FOR REDIRECTING ELECTRONIC TRADE ORDERS - A system for redirecting electronic trade orders includes trade order routing facilities coupled with an electronic trade routing network and a plurality of trade venues, including one or more third party broker dealer systems and one or more alternative trading systems. The trade order routing facilities are configured to monitor electronic trade orders at destination trade venues to determine the number of available shares remaining. The trade order routing facilities are further configured to monitor the electronic trade routing network and a plurality of trade venues to identify if any executable trade orders exist that could be matched against some or all of the remaining order portion. Then the trade order routing facilities retrieve some or all of the remaining shares and submit trade orders to execute against the identified orders in other trade venues.01-13-2011
20110022510SYSTEM AND METHOD FOR DYNAMICALLY REGULATING ORDER ENTRY IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.01-27-2011
20110022509METHOD AND SYSTEM FOR ELECTRONIC TRADING VIA A YIELD CURVE ON PLURAL NETWORK DEVICES - A method and system for providing automatic electronic trading via yield curves. A yield curve is automatically traded via one or more electronic trading exchanges on a client device and/or a server device and/or a combination thereof, thereby making the execution of electronic trades for the yield curve faster and more reliable than when executing on one network device alone.01-27-2011
20100325032SYSTEMS AND METHODS FOR DELIVERING PARAMETERS TO AUTOMATED SECURITY ORDER EXECUTION SYSTEMS - In one aspect, the present invention permits users of trading algorithms to jointly achieve the objectives described above, namely: (a) permit access to trading algorithms of (arbitrary) complexity without requiring proprietary protocol extensions; (b) allow users to easily identify and store one or more sets of dynamic vs. static parameters (and related details, including user interface layout); and (c) allow any given pre-defined set of parameters to be easily invoked and used to submit orders. In another aspect, the invention comprises a computer system comprising: (a) an authoring tool operable to enable a user to design custom trading strategies and create interface definitions; and (b) a pre-processor operable to receive a custom strategy order message delivered via a standard protocol, load an definition for a corresponding custom strategy, enrich the order message based on the definition, and pass the enriched message to a trading strategy destination.12-23-2010
20100325027Method and Apparatus for Automatically Generating Trading Instructions and Executing Trading - Method and apparatus for automatic trading with a module for generating instructions and an automatic trading module wherein trading-relevant data of an extensive environment are registered, trading strategies determined, and the definition of the volume of a trading as well as the execution of a trading carried out basically without human assistance.12-23-2010
20100325030System and method of implementing massive early terminations of long term financial contracts - A method of and system for terminating or assigning outstanding OTC derivative transactions between a plurality of financial institutions (banks). The system comprises: a processing station arranged to receive transaction data describing a plurality of transactions from a plurality of banks via the Internet. The processing station comprises: a linking module for linking different versions of the same transaction received from different parties to that transaction; an analysis module for determining a set of linked transactions between a plurality of different banks, wherein each bank has debts and claims towards other banks in the set; a calculation module arranged to calculate an aggregated value of each set of linked transactions and select the set of linked transactions which has an aggregated value within bank-specified tolerance limits acceptable for executing a termination; and an execution module for executing a termination or assignment of the selected set of linked transactions.12-23-2010
20130144774System and Method for Exchanging Institutional Research and Trade Order Execution Services - An embodiment of the present invention provides a system and method for creating an electronic marketplace, utilizing an electronic non-currency unit of exchange, that provides for and facilitates the cost effective exchange of institutional research and trade order execution services between asset management firms and executing brokers in such manner as to substantially lower trading costs and improve investment performance on a recurring basis for the shareholders and beneficiaries investing in mutual funds and other investment portfolios.06-06-2013
20130144775System and Method for a Request for Cross in a Trade Matching Engine - Systems and methods are provided to fulfill customer trading orders in an illiquid two sided market. Request for cross functionality may be implemented in a trading environment using a trading engine for the matching of trades involving financial instruments. Request for cross functionally integrates the benefits of a dual bid-ask continuous trading market model with the price and quantity trade matching systems and methods.06-06-2013
20100325031METHOD AND SYSTEM FOR TRADING FINANCIAL ASSETS - Systems and methods for trading financial assets are disclosed. Financial assets may be traded by locally providing quotes for a financial asset in a foreign currency, locally receiving orders for the financial asset in the foreign currency, and locally filling the orders in the foreign currency. Hedged quotes for the financial assets may be developed for trading, in a first currency, financial assets priced in a second currency.12-23-2010
20100325029SYSTEMS AND METHODS FOR PROVIDING A TRADING INTERFACE - Systems and methods for configurable trading interfaces that allow a trader to quickly and easily submit trading commands to a trading system are provided. Using these systems and methods, a trader can using various trading interfaces to initiate trading commands, configure various display features and default command settings, and control a level of command entry verification that is provided to protect against inadvertent entry of incorrect trading commands.12-23-2010
20100325028SUPPLIER EVALUATION METHOD IN ELECTRONIC COMMERCE AND SYSTEM THEREOF - A method comprises the steps of: from member information of a trading partner as an object to be evaluated and order information on product items, estimating a supply chain associated with the member information and the item information; narrowing or screening the estimated supply chain by using attribute information associated with the item information; evaluating the response periods of individual members from the information request date and the information delivery date in the environment information exchange history of individual members in the narrowed supply chain; totaling the evaluated response periods of individual members according to the narrowed supply chain; and answering a user request by sending the totaled response period of the company being evaluated to a user computer.12-23-2010
20100332379INTERACTIVE GRID-BASED GRAPHICAL TRADING SYSTEM FOR REAL TIME SECURITY TRADING - An interactive grid-based graphical trading system for use in securities trading provides a dynamic, visual display of trading data consisting of orders, quotes and indices, for any security and for any number of market participants. The trading data are plotted on a grid consisting of cells arranged in rows and columns, which are associated with specific parameters. Distinct visual presentation styles are used, and differences in the price parameter are represented spatially. The values of the price and other parameters associated with the same orders and quotes are mapped against the values associated with the rows and columns of the grid. A trader may place or modify trading orders by interacting with the trading data displayed on the grid, and with specific GUI objects displayed on the same grid. Trading instructions are generated and transmitted to a market participant, in a manner transparent to the trader.12-30-2010
20100250426SYSTEMS, METHODS AND MACHINE-READABLE MEDIUMS FOR SUBMITTING ELECTRONIC LOAN APPLICATIONS TO A LENDING INSTITUTION WITH REAL-TIME COMMERCIAL AND FINANCIAL DATA - Systems, methods and machine-readable mediums for processing electronic loan applications to match with one or more lending institutions. The systems may include a storage device and a processor. The storage device may store commercial and financial data for a plurality of businesses and selection criteria data for a plurality of lending institutions. The processor may be configured to receive a loan application from the at least one of the plurality of businesses, generate a report on a financial condition of at least one of the plurality of businesses based on the financial data and the commercial data, apply the selection criteria data to filter the at least one of the plurality of businesses based on its financial condition and to automatically select one or more lending institutions from the plurality of lending institutions, and transmit the report and the loan application to a lending institution terminal for each of the selected lending institutions. The computer readable mediums provide instructions to cause the processor to perform the operations above.09-30-2010
20100332376System and Method for Auction Negotiation - An auction method is operable in a first computing device that is arranged to communicate with a plurality of second computing devices across a network, each of the second computing devices being controlled by a respective party. The auction method comprises, at the first computing device, generating a request for an offer comprising at least one negotiable parameter, the request being sent to a plurality of parties participating in the auction. The first computing device is responsive to a respective offer being received from a plurality of the parties, each offer comprising a value for each of one or more parameters including the at least one negotiable parameter, to identify a current best offer by combining the parameter values to provide a ranking value for each offer. Responsive to the current best offer failing to be identified as a successful offer, a request for a better offer is sent to at least some of the parties.12-30-2010
20100332373System and method for participation in energy-related markets - A multidimensional energy decision system, comprising a plurality of server systems, including at least a statistics server and an interface adapted to receive and send digital information from at least a client system, and further adapted to optionally communicate with the digital exchange via a packet-based data network, wherein the multidimensional energy decision system periodically optimizes operational parameters of client system for a specific time period and a specific energy asset from client system based on forecasted conditions, and directly, or upon decision confirmation from a client system, procures or makes dispatchable energy resources, related externalities, or related derivative financial products, available to a digital exchange or other parties, wherein upon the purchase of a listed asset by another party or across digital exchange, implements dispatch procedures to satisfy the issued contract and, optionally, provides monitoring and verification of performance, is disclosed.12-30-2010
20100332370COMPUTER SYSTEM AND METHOD FOR CALCULATING MARGIN - The present invention relates to a computer system, computerized method and computer program product for calculating margin requirements in a more efficient way. In particular it relates to margin calculations for being used by clearing house in order to optimize calculation of margin requirements.12-30-2010
2010033237124 HOURS GLOBAL LOW LATENCY COMPUTERIZED EXCHANGE SYSTEM - The present invention relates to distributed computerized exchange systems for trading of financial instruments. In particular it relates to a passive matching engine and an active matching engine that cooperates in handling data messages such that less bandwidth is used and so that improvement in latency can be achieved.12-30-2010
20100332366METHOD AND SYSTEM TO FACILITATE ON-LINE TRADING - A method and system to facilitate on-line trading is presented. An example system, in one embodiment, comprises a web page scanner, a trading control generator, an event detector, and a trading ticket generator. The web page scanner may be configured to scan a web page in order to detect security symbol information. The trading control generator may be configured to present a trading control to associate visually the trading control with the detected security symbol information, the trading control to access a trading service. The event detector may be configured to detect an event associated with the trading control, so that the trading ticket generator receives a request to launch a trading ticket associated with the security symbol information. A trading ticket may be then utilized by a user for submitting a security order using the trading service.12-30-2010
20100211497Multiple Protocol Trading System - A multi-protocol trading system in which traders preferring different trading protocols may coexist within the same system, and access the same liquidity pool, while maintaining their trading rule preferences. The system supports two protocol preferences: a workup preference and a FIFO preference, and includes a single integrated order book that stores orders received from both workup and FIFO traders. Received orders are matched against orders in the order book in accordance with a FIFO and/or workup protocol, as a function of preferences selected by the traders and/or the system operator. Alternatively, the system includes a pair of order books, a workup order book and a FIFO order book. Customers submit linked orders having a workup leg and a FIFO leg which may be matched against the workup and/or FIFO order books, as a function of preferences selected by the traders and/or the system operator.08-19-2010
20120036059CREATION AND REDEMPTION FOR ETP SHARES OF BULKY METALS - To create shares of an ETP based on a bulky metal, an authorized participant (AP) provides an amount of material, such as base or bulky metal, that is within an allowable range of the target value. A central intermediary intermediates the transfer of the mismatched weight between the ETP and the AP to bring the amount of the applicable material or bulky metal to the exact amount needed for the creation (or redemption, in the reverse transaction) of the ETP shares. The ownership of the last unit of bulky metal transferred in relation to the transaction is divided between the equalization facility and the ETP through the booking of account receivable/account payable transactions. The AP then pays or receives cash from the equalization facility based on whether too little or too much metal was transferred.02-09-2012
20120036058TRADING ORDERS WITH DECAYING RESERVES - In various embodiments, an apparatus includes a processor and a memory. The memory is communicatively coupled to the processor. The memory stores software instructions that, when executed by the processor, cause the processor to receive a trading order for a particular quantity of a trading product. The trading order specifies that a first portion of the particular quantity is a displayed quantity and that a second portion of the particular quantity is a reserved quantity. The trading order specifies at least one of a decay rule, a decay interval, a decay rate, decay quantity, and one or more conditions. The software instructions, when executed by the processor, cause the processor to cause the reserved quantity to decay based at least in part on at least one of the decay rule, the decay interval, the decay rate, and the decay quantity, and one or more conditions.02-09-2012
20100191641SYSTEMS AND METHODS FOR USE OF FRACTIONAL PAY-UP TICKS IN RELATION TO TRADING STRATEGIES IN AN ELECTRONIC TRADING ENVIRONMENT - A system and associated methods are provided for use of fractional pay-up ticks in relation to offset orders being sent for a trading strategy that involves trading a first tradeable object and at least a second tradeable object. According to one example method, when an indication is received that a quantity at a first price for the first tradeable object is filled, a plurality of offset orders for the second tradeable object is sent to an electronic order book of the second tradeable object. The plurality of offset orders is placed at a plurality of price levels determined based on at least one fractional pay-up tick value, the first price, and the desired spread price. A quantity for each order is determined based on a quantity divider rule that is applied to an offset quantity to offset the fill.07-29-2010
20100332377Time Market Grid Interface - A system and method are provided for trading a tradable object. One example apparatus includes a microprocessor, a graphical user comprising a first screen region having a plurality of locations in the first screen region, each location corresponding to a price level along a first axis and a time along a second axis. The apparatus also comprises a user input device for sending a command to initiate placement of a timed trade order, and an indicator being dynamically displayed in one of the plurality locations of the first screen region and corresponding to the timed order. In one example embodiment, the indicator dynamically moves over time relative to the second axis indicating a time until the order will be automatically sent to a computerized matching process.12-30-2010
20110016035METHOD AND SYSTEM FOR PROVIDING AUTOMATIC EXECUTION OF BLACK BOX STRATEGIES FOR ELECTRONIC TRADING - A method and system for providing automatic execution of black box trading strategies for electronic trading. A black box trading entity is created from two or more real or synthetic trading entities including real or synthetic contracts or financial instruments. The black box trading entity is automatically traded via one or more electronic trading exchanges on a client device and/or a server device and/or a combination thereof, thereby making the execution of electronic trades for the black box trading entity faster and more reliable than when executing on one network device alone.01-20-2011
20110016036SYSTEMS AND METHODS OF FACILITATING TRADING OF INSTRUMENTS - Systems and methods of facilitating trades of instruments are provided. A master node and a plurality of intermediate nodes store counterparty credit matrices. Trades are executed based on the information stored in these matrices. The systems and methods allow selection of trading options that not only accept or reject a trade, but also can indicate a credit status to be assigned to a counterparty to the trade.01-20-2011
20110246350SYSTEM AND METHOD FOR ACTIVITY BASED MARGINING - A system and method for factoring in a trader's trading activity into the margin requirements is disclosed. In the securities arena, day traders are assessed different margins than non-day-traders, however, the specific profile of the trader is analyzed (that is, the same rule applies to all day traders).10-06-2011
20110016037METHOD AND APPARATUS FOR DISPLAY OF DATA WITH RESPECT TO CERTAIN TRADABLE INTERESTS - Computer display of exchange traded option trading system includes sorting information received from the exchange to provide the liquidity provider with trading opportunities based on the liquidity provider's portfolio. A first display provides a comparison of theoretical values to market pricing values for tradable interests in the portfolio and displays in sorted order tradable interests for which values are most out of line. In another display, pricing data of tradable interests in the portfolio as received from a primary exchange are compared to pricing data on other exchanges, and a listing is provided of tradable interests in which values are crossed, are the same (locked) or are one trade increment away from one another. In a third display, pricing values on any exchange for tradable interests in the portfolio that are crossed with the pricing value on any other exchange are shown. Trade entry is possible from the displays.01-20-2011
20110016038CONVERSATIONAL DEALING IN AN ANONYMOUS TRADING SYSTEM - An anonymous trading system for financial instruments comprises a network of broking nodes each performing a bid and offer matching function and a market view distribution function. Trader terminals are connected to the network via trading agent nodes. During deal execution a credit check is performed and once the deal is complete the identity of the counterparty becomes known to the other counterparty to the deal. The originating counterparty may send a More quantity message to the other party proposing a further deal at the same price. The other party may decline, partially accept, accept or accept and propose a still further amount. Credit for the further deal is drawn from an external source and the internal credit limits are temporarily increased or disabled to prevent the deal from being rejected.01-20-2011
20110016039Automated Securities Trade Execution System and Method - An automated securities order execution system includes order entering means for a client to enter an order and at least one filtering means for determining whether the order can be automatically executed. Routing means are used for routing the order to a destination based upon the determination made by each of the filtering means. After the order has been properly routed, the order is executed and the result of the order execution is reported to the client.01-20-2011
20110029422TRADING GREENHOUSE GAS EMISSION CREDITS DETERMINED BASED ON THE USE OF A GENETICALLY MODIFIED PLANT - To trade greenhouse gas emission credits on an electronic trading market, an amount of nitrogen applied or to be applied to obtain a desired crop yield using a genetically modified version of a plant is determined. The genetically modified version of the plant has a nitrogen utilization efficiency greater than a non-genetically modified version of the plant. An amount of greenhouse gas emission is determined based on the amount of nitrogen. A greenhouse gas credit is calculated based on the determined amount of greenhouse gas emission. The calculated greenhouse gas credit is conveyed to one or more potential buyers through the electronic trading market.02-03-2011
20110029426System and Method for Changing the View of a Trading Screen - A trading screen displays market information, such as working orders, buy and sell orders, and other items of interest, in association with values on a value axis. Each item of interest is therefore displayed in relation to the value axis to provide a trader with an intuitive display of the market. In one embodiment, a user can select a location associated with a particular value on the trading screen and upon an selection, for example, by a click of the mouse button, the value axis is repositioned so that the selected value is moved to a predefined location. During which, market information is moved to new locations that are associated with their respective values on the value axis.02-03-2011
20110029425PASS THROUGH LIQUIDITY IN A MULTI-TIERED TRADING SYSTEM AND METHOD - The present invention generally relates to brokerage systems and methods, and more particularly, to a multi-tiered trading system and corresponding methods which allow multiple customers and multiple dealers to transact on a single platform while maintaining the distinction of an inter-dealer system and a dealer-customer relationship.02-03-2011
20110029423SECURITIES MARKET AND MARKET MAKER ACTIVITY TRACKING SYSTEM AND METHOD - A method, system and computer program to monitor securities market activity to seek out imbalances in market activity that could lead to a price change in a particular security. Level 1 and/or level 2 data is analyzed to track the activity of market makers and to derive indicators of momentary upward or downward price pressure. The indicators can be displayed to a user.02-03-2011
20110029424HIDDEN BOOK TRADING SYSTEM - Presented is a system and method for performing crossing of institutional security orders. The system includes a first server interconnected to a second server and client stations across a communication network. The first server includes a database and is configured to receive institutional orders from the client station, which are stored in the database. The first server includes operating instructions operable to determine whether a match exists between contra institutional orders based on predetermined criteria. Upon determination of a match, the first server forwards a child order composed of at least a portion of one of the contra orders to the second server. At a fraction of a second later, the first server forwards the other of the contra orders to the second server followed by the remaining portion of the contra order.02-03-2011
20110246353System and Method for Risk Management - A margin requirement is computed while trading. The margin requirement may be calculated while trading because the preferred system takes into account working orders to generate the margin requirement. The on the fly possibility allows the preferred system to provide pre-trade risk calculations, but can also be used to provide post-trade calculations. A generic spread number and the maximum number of outright positions are determined. Using the spread positions and the maximum number of outright positions, a spread margin and an outright margin are calculated, which when summed provide a total margin requirement. Limits based in part on the total margin requirement may be imposed on one or more traders.10-06-2011
20110035313American and European style Win, Lose or Draw derivative instruments - Methods and systems are disclosed for listing and trading fixed-payoff derivative contracts between two parties based on the movement of an underlying financial instrument in a manner that eliminates the cost associated with a traditional option premium. The invention, henceforth referred to as a “Win, Lose or Draw” derivative contract, is a cash position for or against the occurrence of a designated price event above an underlying financial instrument's spot price before the occurrence of a designated price event below an underlying financial instrument's spot price, or vice versa, within a designated time period. If neither designated price event occurs within the designated time period, no loss of cash position is incurred by either party. Embodiments of the invention include both American-style and European-style contracts, the application of asset-backed contracts, transferable positions, multiple underlying financial instruments within the same contract, asymmetric time periods, and expirationless time periods.02-10-2011
20110035309Visual Representation and Configuration of Trading Strategies - A system and method are provided to visually represent and configure trading strategies used in electronic trading. The system and method may be used to visually represent, among other things, an acceptable range of prices for a trading strategy in relation to a graphical user interface. The acceptable range of prices may be input by a trader to limit when one or more orders are moved from one price to another. The acceptable range of prices can be displayed on a graphical user interface using visual indicators. Using the visual indicators, the acceptable range of prices can also be configured and modified by a trader based on the trader's preferences. Other features and advantages are described herein.02-10-2011
20110035311Method and Interface for Consolidating Price Levels on a Trading Screen - A trading screen may display price and quantity information for price levels in a static axis of prices. The static axis of prices may be divided into two or more different regions. The price and quantity information for one or more of the regions may be consolidated from price and quantity information from plurality of un-consolidated price levels.02-10-2011
20110035310PASS THROUGH LIQUIDITY IN A MULTI-TIERED TRADING SYSTEM AND METHOD - The present invention generally relates to brokerage systems and methods, and more particularly, to a multi-tiered trading system and corresponding methods which allow multiple customers and multiple dealers to transact on a single platform while maintaining the distinction of an inter-dealer system and a dealer-customer relationship.02-10-2011
20110035308METHOD AND SYSTEM FOR PROVIDING AUTOMATIC EXECUTION OF GRAY BOX STRATEGIES FOR ELECTRONIC TRADING - A method and system for providing automatic execution of gray box trading strategies for electronic trading. A gray box trading entity is created from two or more real or synthetic trading entities including real or synthetic contracts or financial instruments. The gray box trading entity includes a black box portion (automatic trade execution) and a white box portion (manual trade execution). An electronic trader selects trades for black box and white box trades in the gray box trading entity. The trades can be dynamically changed. Selected trades for gray box trading entity are automatically traded with a black box trading entity on one or more electronic trading exchanges while a trader is prompted to manually execute selected other trades for the gray box trading entity with a white box trading entity.02-10-2011
20110035306System and method for buying and selling securities - A computer-implemented method for trading a financial instrument. The method can include receiving an instrument designation for a financial instrument, receiving an offset value, related to the instrument, and receiving an actuation of at least one of a better buyer selector and a better seller selector related to the instrument. The method can include receiving a base value related to the instrument, receiving a timeout rule related to the instrument, and receiving a timeout value related to the instrument. The timeout rule can be an interval type, and the timeout value can be a time interval. The timeout rule can be a custom type, and the timeout value can be a mathematical expression. In addition, the method can include generating a request to buy the instrument at a value of the offset above the bid price for the instrument, and buying the instrument.02-10-2011
20110040674System and Method for Quick Quote Configuration - A method and system are described for providing a trader with the ability to quickly configure the quoting side of a trading tool, without experiencing the normal delays associated with conventional methods of quoting. In spread trading, an automated spread trading tool may automatically work an order to buy or sell a tradeable object. A user may configure the trading tool to work an order in a certain tradeable object first. The system allows the user to essentially on-the-fly configure the trading tool to work a second order in another tradeable object, and in response to the change, the system can take specific actions such as deleting the order in the first tradeable object and automatically entering the second order in the other tradeable object. This allows the trader to trade quickly and efficiently.02-17-2011
20100332374Discretionary order in an electronic guaranteed entitlement environment - An enhanced system and method for handling, matching and executing discretionary orders in an electronic options environment is disclosed. Market maker entitlements are integrated with the discretionary order processing, so that the market maker is guaranteed an allocation of the trade if the market maker is at the NBBO when an incoming discretionary order priced at or better than the NBBO is received. If the incoming discretionary order cannot execute at the NBBO using its display price, then it will use as much discretion as is required to participate in a market maker entitlement if the market maker is quoting at the NBBO, and to execute against the order book and route to away markets quotations at the NBBO. Once posted to the order book, only the display price of a discretionary order is eligible for preferential execution in a market maker entitlement process.12-30-2010
20110040673SYSTEMS AND METHODS FOR LINKING ORDERS IN ELECTRONIC TRADING SYSTEMS - Systems and methods for linking orders in electronic trading systems are provided. These systems and methods enable a trader to select two or more items that are to be linked and specify linking parameters for those items. Any desired set of items may be linked, and the linking parameters may include price adjustments, order sequencing instructions, automatic/manual execution controls, execution delays commands, and update frequency limits. Upon detecting a bid or offer for a linked item, the systems and methods may then determine a size and a price for each linked item based upon the size and the price of the bid or offer for the first linked item. In this way, the sizes and the prices for the other linked items may be propagated from the size and the price for the first item. Once the size and the price for each item is determined, the systems and methods may submit orders for the items in accordance with the linking parameters. In the case where orders for linked items may only be submitted in designated lot sizes, the systems and methods may round the sizes of the orders to the designated lot sizes, and then submit remainder orders to make up for the rounding.02-17-2011
20110035312System and Method for Linking and Managing Linked Orders in an Electronic Trading Environment - A system and method for linking and managing linked orders are described. According to one method, a trader may first link two or more orders into a linked order, and then one or more parameters associated with one of the orders may be dynamically changed based on user inputs or information being received from an exchange. For example, a trader may link any two orders as an order cancel order, and each linked order may be associated with the same or different tradable objects, order quantities, and may be submitted to one or more exchanges. The order quantities may be then dynamically updated based on updates being received from the one or more exchanges and further based on a quantity ratio between the two orders. Further, the linked order may be submitted upon detecting a fill for another order.02-10-2011
20110035307METHOD AND SYSTEM FOR CONSOLIDATING COMMODITY FUTURES CONTRACTS HAVING GUARANTEED PHYSICAL DELIVERY - A guaranteed physical delivery futures contract and method and system for consolidating same are disclosed. The method includes guaranteeing physical delivery for future positions of market participants having open first-nearby time positions of a particular size, making additions to or subtractions from open first-nearby time positions of market participants that are less than the particular size and offsetting the additions to and subtractions from market participants' open first-nearby time positions with opposite positions in a second-nearby time. The system includes one or more servers and communications links, the communications links for receiving position data, including open positions, and the servers are configured to make additions to or subtractions from open first-nearby time positions less than a certain size and adjust market participant second-nearby time positions based on the additions to or subtractions from open first-nearby time positions. In certain embodiments, the underlying commodity is crude oil and the particular size is the size of a cargo shipment, about 600,000 barrels.02-10-2011
20100332375Apparatus and Method for Trade Aggregation of Trade Allocations and Settlements - A post-trade aggregation system includes an allocation middleware interface, which interacts with an order management system to allocate and settle trades. The order management system receives a trade order on behalf of a customer and either apportions the trade into a plurality of smaller orders and communicates them to a plurality of order destinations directly (e.g. via the FIX protocol), or sends large orders to an order staging and optimization interface which then apportions the larger orders into a plurality of smaller orders and communicates the orders to a plurality of order destinations. The post-trade aggregation system contains an allocation middleware interface which receives the individual trade executions from the plurality of order destination and compresses them into a single average-priced block. The allocation middleware interface then sends the single average-priced block to be cleared by a designated clearing agent and allocates the single average-priced block into one or more custodian accounts. In further aspects, a method and apparatus are also provided.12-30-2010
20110040672System and Method for Dynamic Quantity Orders in an Electronic Trading Environment - A system and method for dynamic quantity orders in an electronic trading environment are described. According to one method, a dynamic quantity order includes a price, a desired order quantity and a percentage associated with an estimated order quantity that will be filled in an order queue. When the order is received at an electronic exchange, the order is sorted into a pro-rata order queue, and the exchange may estimate a potential order quantity that will be filled in the order queue at the price based on the defined percentage. Subsequently, the exchange may then increase the order quantity of the dynamic quantity order so that if the estimated number of fills occurs, the order quantity of the dynamic quantity order will be filled.02-17-2011
20110040680METHOD, APPARATUS AND INTERFACE FOR TRANSACTION TOGGLING - A method for submitting transactions from an automated trading tool to an electronic exchange. The method includes defining a proximity limit and automatically generating a transaction for a tradeable object. The method further includes applying the proximity limit to the transaction. When the transaction falls within the defined proximity limit, the transaction is submitted to the exchange. An apparatus and interface for transaction toggling based on proximity limits are also provided.02-17-2011
20110040679System and Method for Improved Order Entry Using Market Depth - Market depth information pertaining to the hedging side is utilized to intelligently break a non-hedging order into multiple orders, such that the orders rest at cascading price levels. This way, the trader can benefit from sweeps in the book and still properly account for the market depth on the hedging side. Further, there is a greater probability of receiving “partials” on the spread order. In addition, hedge orders may be sent at multiple price levels, or sent to the market in pieces over time. By applying a more intelligent process to hedge orders (as opposed to “fire and forget”) an alternative beyond limit orders that can be legged or market orders is provided.02-17-2011
20110040678SYSTEM AND METHOD FOR PREVENTING CROSS TRADING - Information regarding the current state in the market is used to prevent orders from crossing. In an example provided herein, when an order is entered into a market, information regarding current positions in the market is taken into account to determine whether the order will cross with other orders. If the orders would cross, appropriate action is taken to prevent the crossing of orders in a way suitable for the person or persons trading. The teachings described herein may be used for any reason to prevent orders from crossing. Moreover, they may be used in other areas of trading to assist the trader in obeying any other rule or regulation that might involve analyzing current positions in the market before taking action.02-17-2011
20110040676Order Chronicle Process and Method - A process for chronicling a portion of an electronic market includes a record process for recording an activity relating to a security interest in an order book in main memory of a computer system and another record process for recording the activity in a persistent store.02-17-2011
20110040671Settling Over-The-Counter Derivatives Using Synthetic Spot Benchmark Rates - Techniques and systems for settling over-the-counter financial instruments includes sampling over a periodic interval are disclosed. A volume weighted average price of the sampled process may be calculated and forward points may be applied to the volume weighted average priced to determine an associated spot exchange rate. Such a synthetic spot FX exchange rate may be published to subscribers. Over-the-counter financial instruments may establish delivery obligations according to the spot exchange rate. In the event where a number of transactions during the sampling period is less than a threshold, a midpoint of bids and asks associated with orders for the exchange traded financial instrument may be used to determine an average of the midpoint, to which the forward points may be applied to determine the spot exchange rate. Alternatively, the time-weighted average of the bid and ask orders during a periodic interval may be used in computing the volume-weighted average price.02-17-2011
20110040669AUTOMATED SPREAD TRADING SYSTEM - An automated spread trading terminal receives from a user a selection of a spread trade indicative of a set of trading contracts defined in relation to the spread trade, and transmits to an electronic trading exchange a first set of messages including an order message such that an initial set of working orders corresponding to one of the trading contracts are rendered operative in the electronic trading exchange. The terminal receives from the electronic trading exchange a first fill confirmation message confirming the partial completion of a first working order in the initial set of working orders, and current market data indicating quantities of current bids and/or offers in relation to the trading contracts. in response to the first fill confirmation message, the terminal transmits to the electronic trading exchange a second set of messages such that a completing set of working orders are rendered operative in the electronic trading exchange. A quantity is reduced on order at a given price level from a first non-zero quantity to a second non-zero quantity for a trading contract on the basis of a bid or offer quantity in the current market data.02-17-2011
20110040677System And Method For Regulating Order Entry In An Electronic Trading Environment - A system and method are provided for defining slop parameters to an individual spread order or a customized group of orders. The system and method may be used to, for example, define inside slop, outside slop, and/or adjustable range parameters to one or more orders. The inside slop, outside slop, and/or adjustable range parameters may be input by a trader, and, among other things, allow a trader to prioritize orders, set parameters so that some orders are re-priced more aggressively than other spread orders. Alternatively, slop parameters associated with a spread order may also apply more restrictive slop parameters to orders within the same adjustable range. Slop parameters associated with a spread order can also be configured and modified by a trader based on the trader's preferences. Other features and advantages are described herein.02-17-2011
20110040675System and Method for Linking and Managing Linked Orders in an Electronic Trading Environment - A system and method for linking and managing linked orders are described. According to one method, a trader may first link two or more orders into a linked order, and then one or more parameters associated with one of the orders may be dynamically changed based on user inputs or information being received from an exchange. For example, a trader may link any two orders as an order cancel order, and each linked order may be associated with the same or different tradable objects, order quantities, and may be submitted to one or more exchanges. The order quantities may be then dynamically updated based on updates being received from the one or more exchanges and further based on a quantity ratio between the two orders. Further, the linked order may be submitted upon detecting a fill for another order.02-17-2011
20110040670System and Method for Price-Based Annotations in an Electronic Trading Environment - A system and method for generating and displaying annotations in relation to one or more prices corresponding to trader-related or market related events are described. In one embodiment, a trader may enter an annotation to be displayed in relation to one or more price levels. Alternatively, a trader may configure a dynamic annotation to be dynamically displayed in relation to some price level(s) upon detecting a predetermined event related to one or more tradeable objects. Also, a trader may configure one or more alarms to be displayed or played in combination with the annotations.02-17-2011
20110040667EXCHANGE TRADING SYSTEM AND METHOD HAVING A MODIFIED PARTICIPATION ENTITLEMENT - A system and method of determining a participation entitlement for orders for the purchase or sale of securities or derivatives in an exchange configured for trading securities or derivatives is provided. One method includes determining a first participation entitlement based on a presence of a first-in-time public customer order at an executable price and determining a second participation entitlement in an absence of a public customer order on the electronic book. The system includes an electronic trade engine with electronic book configured for receiving orders from market makers on and away from the trading floor. The system also includes executable instructions for determining participation entitlements according to the method noted above.02-17-2011
20110119175SYSTEM AND METHOD FOR DYNAMICALLY REGULATING ORDER ENTRY IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method are provided for trading a trading strategy defined for at least one tradeable object in an electronic trading environment. More specifically, one example method includes using a first pay-up tick value to determine a first acceptable price level for an order associated with the trading strategy, automatically modifying the first pay-up tick to a second pay-up tick value in response to detecting a predefined condition, and using the second pay-up tick value to determine a second acceptable price level for the order associated with the trading strategy.05-19-2011
20110246354FINANCIAL INSTRUMENT FOR A SPECIFIC DELIVERABLE PRODUCT ON A DAILY SETTLEMENT BASIS - A new class of instruments extends the use or operation of futures contracts to encompass specific deliverable products on a daily settlement basis. These new instruments can be created to cover a wide range of market sectors and financial classes. The new instruments are exchange traded instruments that define exactly and exclusively the instrument to be exchanged at the end of the trading period.10-06-2011
20110125627SYSTEM AND METHOD FOR ROUTING TRADING ORDERS IN AN ELECTRONIC TRADING SYSTEM USING TRADER LISTS - A system for managing trading orders comprises a memory operable to store a trader list that is associated with a first trader and that designates one or more other traders. The system further comprises a processor communicatively coupled to the memory and operable to receive a trading order from the first trader. The processor is further operable to transmit the trading order to a plurality of traders, wherein the plurality of traders does not comprise any of the one or more designated traders from the trader list. The processor is further operable to prevent the transmission of the trading order to the one or more designated traders.05-26-2011
20100145842METHOD AND SYSTEM FOR CREATIVE COLLABORATIVE MARKETPLACES - In an embodiment, a method of conducting a multi-level transaction includes receiving a primary call for proposals, receiving one or more primary bids by a computing system with respect to the primary call for proposals, receiving one or more secondary calls for proposals for each primary bid, receiving one or more secondary bids by a computing system with respect to the one or more secondary calls for proposals, automatically determining an estimate of a trustworthiness rating for each primary bid, receiving the selection of a primary bid based on the estimates of the trustworthiness rating, and displaying the selection of the primary bid. Each secondary call for proposals includes a job request associated with the primary bid. The estimate of the trustworthiness rating is based on a trustworthiness rating associated with the primary bid and one or more secondary bid trustworthiness ratings.06-10-2010
20110246349EMISSION ALLOWANCE TRADING SYSTEM AND EMISSION ALLOWANCE TRADING METHOD - In order to disclose an emission allowance for each product and allow its trading on a product unit basis, the present invention manages, in a management server requesting execution of a settlement process to settlement servers which make settlement of the emission allowance, weight information of the emission allowance and identification information of a non-contact IC medium in association with each other and stores, in databases provided in the settlement servers, weight information of an emission allowance on a seller's side, seller's account information, weight information of an emission allowance on a buyer's side, and buyer's account information. When the non-contact IC medium removed from a product bought from the seller's side is sent from the buyer's side, a withdrawal process from the seller's account and a transfer process to the buyer's account are performed in the settlement servers in relation with the emission allowance traded between the seller's side and the buyer's side, based on the transmitted execution request of the settlement process and the information stored in the databases.10-06-2011
20110119174ORDER ENTRY IN AUTOMATED TRADING SYSTEMS - Quotes entered into an automated trading system may comprise a visible, or primary, amount, and a linked or hidden amount. The visible amount only is shown to other traders on the system but part or all of the linked amount may be dealt if the order with the quote is match is for an amount greater than the visible amount. If, after matching and deal confirmation, all the visible amount has been dealt, but some or all of the linked amount remains, a fresh order for the remaining linked amount is generated and submitted to the trading system for matching. The new quoted may be visible only or may have a visible component up to a limit specified by the maker on submission of the original quote, with the remainder being linked. Maker quotes converted to taker quotes by an auto-match routine may be resubmitted for undealt linked amounts in the same way. In one aspect of the invention, linked amounts are matched and dealt before visible amounts.05-19-2011
20110119173System and Method for Providing Intelligent Market Data Snapshots - Systems and methods are provided for processing and distributing market data. Critical data, such as data showing that a market price has changed is distributed without further delay. When the market data does not result in a change in a market price or does not meet another critical criteria, the market data is aggregated with market data for similar events and distributed when the aggregated market data passes a quantity threshold.05-19-2011
20110119171IMPLIED VOLATILITY BASED PRICING AND RISK TOOL AND CONDITIONAL SUB-ORDER BOOKS - The Book Order Management (BOM) system provides a fully automated and efficient electronic trading environment for derivatives trading. The BOM system allows traders to electronically, in real time, both make two sided markets in any option or combination of options, and issue quotations for immediate use, so that the trader providing the quotation has the opportunity to re-evaluate and change markets if conditions change. The BOM system provides a way to efficiently determine whether the conditions placed on a contingent order are met and guaranteed, using a lock (freeze) and reserve procedure.05-19-2011
20110213690CARBON FOOTPRINT DETERMINATIONS - Described herein are various apparatuses, methods, and computer program products for providing a carbon-footprint modeling environment that determines a consumer's carbon footprint based on the consumer's acquisition of goods and/or services, as indicated by the consumer's transaction data. For example, the carbon-footprint modeling environment collects the consumer's transaction data for a predefined period of time and identifies transaction data that indicates the consumer's acquisition of goods and/or services that, when produced and/or consumed, result in greenhouse gas emissions. According to some embodiments, the carbon-footprint modeling environment categorizes goods and/or services into, for example, the following categories: transportation, housing, food, waste, and miscellaneous. Based on information gleaned from the consumer's transaction data, the modeling environment may determine the quantities of goods and services the consumer consumed in each of the categories and then apply conversion ratios to convert the respective quantities of goods and/or services consumed into units of greenhouse gas emissions.09-01-2011
20090083176METHODS FOR ALLOCATING RISKS OF FUTURE MAJOR DEVELOPMENTS - Computer-implemented methods for allocating risks from major developments are described. The methods include identifying one or more future major developments with economic impact; identifying a parameter to indicate that each of the developments has or has not occurred; creating a contractual instrument that is based on the occurrence or non-occurrence of the one or more major developments; and trading the instrument. A contractual instrument based upon on an occurrence or non-occurrence of one or more major developments in electronic form and tradable in the methods is also described.03-26-2009
20110087577COMPUTER-IMPLEMENTED SYSTEM AND METHOD FOR REAL ESTATE COLLATERALIZED PRIVATE PARTY LOAN TRANSACTIONS - A computer-implemented system for real estate collateralized private party loan transactions comprising a database of custom property profiles that are posted by borrowers seeking to obtain financing. Each custom property profile comprises desired loan amount, type of financing sought by the borrower, purpose of the loan, and designated title company and closing agent. The system allows posting borrowers to upload photos and documents in connection with their custom property profiles and lenders to bid on custom property profiles by offering to make loans based on terms set by the lender. A lender may offer to make a loan on more than one custom property profile at a time, and if a borrower accepts an offer made by a lender, the system automatically suspends all other unexpired offers made by the lender. The lender may reactivate a loan offer that has been suspended. A method of implementing the above system.04-14-2011
20110087587SYSTEM AND METHOD FOR IMPLEMENTING PUSH TECHNOLOGY IN A WIRELESS FINANCIAL TRANSACTION - A method for executing a trade is provided that includes communicating financial information to a handheld device via a network, the financial information being associated with a trade that can be initiated by the handheld device. The handheld device is connected to the network via a Push to Trade™ protocol. The method also includes executing the trade on behalf of the end user.04-14-2011
20110087581METHOD OF BUYING OR SELLING ITEMS AND A USER INTERFACE TO FACILITATE THE SAME - A method of buying or selling items having at least one market and its associated processes are disclosed. The method includes the steps of, under control of a client system, displaying information identifying at least one item and a bid and/or ask price for the item in the market; and specifying transaction conditions based on a user directed position of a moveable icon, where the transaction conditions are related to the buying or selling of the identified item in the active market. Then, in response to an action of the user sending a user transaction request at the transaction conditions displayed at the time of said action, facilitating financial transactions for the user in accordance with the transaction conditions to complete the transaction. In this manner, the item may be bought or sold by the user at the transaction conditions specified. A user interface to facilitate this method is also disclosed. A quantity recommendation system to facilitate the quantity decision of a financial transaction is further disclosed.04-14-2011
20090240617Trading Interface for Facilitating Trading of Multiple Tradeable Objects in an Electronic Trading Environment - A system and method are provided for trading multiple tradeable objects. One example method includes displaying at least one combined quantity indicator representing a combined quantity associated with at least two tradeable objects, detecting an input associated with an order for a predetermined order quantity in relation to one of the combined quantity indicators, and allocating the order quantity between the at least two tradeable objects using at least one quantity allocation rule. In one example embodiment, a plurality of quantity allocation rules can be user-configurable, and different rules can be defined and applied in relation to different order types.09-24-2009
20100138335Trading Tools for Electronic Trading - Tools for trading and monitoring a commodity on an electronic exchange using a graphical user interface and a user input device. The tools will aid the trader in determining the status, trends in the market, and the trader's position in the market.06-03-2010
20110213691SYSTEMS AND METHODS FOR CLOUD-BASED BROKERAGE EXCHANGE OF SOFTWARE ENTITLEMENTS - Embodiments relate to systems and methods for cloud-based brokerage exchange of software entitlements. A user can host on-premise software applications on physical hardware, and extend those applications to the cloud based on a set of entitlements developed in conjunction with the vendor(s) of the software. The set of entitlements enjoyed by the user and/or offered by the vendor(s) can be exposed to a bidding marketplace via a brokerage engine and associated bidding service, which can be hosted on a Web site. Other users, and/or other vendors interesting in consuming or supplying premise or loud-based images of the software, or related services, can be to obtain or supply those resources through the brokerage service. The license terms including usage rates, number of users or images, security constraints, and/or other terms of software delivery and usage can be recorded in a dynamically updated entitlement database.09-01-2011
20100030679Transreceiver, commodity and service trading system, and transmitter and receiver used therein - In a commodity and service trading system, a client computer 02-04-2010
20100153253METHOD OF OPERATING A VENTURE BUSINESS - A method of operating a venture capital investment business, comprising establishing a business entity; the business entity establishing an investment fund; establishing a fund managing entity of the investment fund, the fund managing entity attending to administrative matters relating to the investment fund and making investment decisions for the fund; the investment fund having investors that provide capital contributions to the fund, the fund managing entity also providing capital contributions to the fund, the fund utilizing the contributions to invest in portfolio entities; the investors receiving a general participation interest in the fund, and the fund managing entity receiving a carried interest in the fund; providing the investors that have provided at least a threshold capital contribution to the fund with stock rights in the business entity to enable such investors to become shareholders in the business entity; the business entity securing a portion of IPO shares that become available in the portfolio entities; and the business entity enabling shareholders thereof to purchase IPO shares that become available in the portfolio entities.06-17-2010
20090313161SYSTEM AND METHOD FOR ELECTRONIC TRADING AND DELIVERY OF A COMMODITIZED PRODUCT - The present invention provides a system and method for trading of a commoditized product through a distributed network of computers, and for delivering the commoditized products after the trade. The system includes an order matching routine, a payment routine, a product qualification routine, and a distribution routine. The invention provides for secure electronic trading of a commoditized product through a hub centric platform that provides for a real order exchange in a real time environment, allows individual buyers and sellers to remain anonymous to each other, eliminates size or volume as a means of discrimination for transaction, and maximizes distribution efficiency.12-17-2009
20100228663MORTGAGE-BACKED SECURITY HEDGING SYSTEMS AND METHODS - A computer assisted method of developing a hedge position for a mortgage-backed security. The method includes calculating a duration of the security based on price histories of the security and changes in yield of a benchmark security and expressing periodic changes in price of the security. The method also includes calculating a relative coupon of the security and calculating a current coupon yield of the mortgage sector. The method further includes calculating an empirical duration of the security, calculating a hedge ratio for the security, and outputting a hedge position for the security based on the hedge ratio.09-09-2010
20100114752METHOD AND SYSTEM FOR PROVIDING AUTOMATIC COLLECTIVE WINDOWS FOR GRAPHICAL USER INTERFACES FOR ELECTRONIC TRADING - A method and system for providing automatic collective windows for a multi-windowed graphical user interface (GUI) for electronic trading. The collective windows are automatically created with pre-determined individual graphical windows, with selectable desired screen positions on a graphical user interface, with different desired alignments of the individual graphical windows within the collective window and with a two-dimensional (2D) and three-dimensional (3D) display mode.05-06-2010
20120036062System and Method for Event Driven Virtual Workspace - A system and method for an event driven virtual workspace are described. According to one example method, a trader can define a plurality of windows to be associated with a virtual workspace. Also, the trader could define one or more triggering events, the combination of which may be used to activate the virtual workspace. In such an embodiment, when the system detects the one or more triggers, the system can attempt to activate the virtual workspace. According to the example method, the trader may place a number of limiting conditions before any states of the currently displayed windows are modified such that the triggered virtual workspace could be displayed. If no limiting conditions are detected, the system can display the triggered virtual workspace.02-09-2012
20120036061System and Method for Order Placement in an Electronic Trading Environment - A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.02-09-2012
20110087586NOVEL SHORT-TERM OPTION TRADING SYSTEM - Option contracts are traded by valuing an option that has at least one of a) strike price or b) expiration time unknown at the time the option is valued. The previously unknown values of the option are assigned at the time or after the time the trade is completed. An implied underlying price stream is generated from the option prices through the use of feed back between market participants and the marketplace. The resulting system is useful in trading option contracts of short time duration.04-14-2011
20110087585System and Method for Estimating Order Position - A system and method for providing order queue position information are disclosed. In this application, market updates are received for a tradeable object from at least one exchange. To the extent that the market updates do not include enough details to compute the queue position of a trader's working orders, estimation may be used. As a result, an order queue is generated to approximate a trader's order position in an exchange price order queue. An interface may be used to display the generated order queue estimation to the trader which provides valuable trading information.04-14-2011
20110087582METHOD AND SYSTEM FOR FACILITATING INTERNATIONAL SECURITIES TRADING - A method and a system for facilitating international securities trading include receiving market data specified in the local currency of a market center. The system includes a central platform that provides foreign executable currency quotes, which can be used to convert the market center's central limit order book into multiple foreign currencies. Orders specified in a foreign currency are converted to the local currency and placed with the market center. When two orders are matched, the system handles execution of a foreign exchange (FX) portion of the order based on the best FX quote provided by an FX liquidity provider, locked in at the time of receipt of the order.04-14-2011
20110087580ELECTRONIC CREDIT DEFAULT FUTURES MARKET - Systems and methods are provided for providing a credit default futures market. A system providing the credit default futures market includes a processor, memory and an interface. The interface is configured to display credit default futures contracts that subscribe to a set of standard terms and conditions. The processor is configured to settle certain credit futures contracts in kind and other in cash, depending on, at least in part, the maturity date of the futures contract. A method is presented for electronically clearing and settling probability of default futures contracts.04-14-2011
20110087579LEG PRICER - An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. The tradable combinations may include spread orders where one leg of the spread has a different tick size than the other or where the tick of the spread contract is different from the tick size in one or both legs. A method and system for calculating on-tick leg prices in an equitable and predictable manner is provided.04-14-2011
20110087578SYSTEM AND METHOD FOR CARBON CREDIT TRADING - A computer-implemented system, method, and computer-readable medium for creating and trading securitized environmental offset credits in a registered securities exchange includes providing a processor, memory device, at least one user interface, and a network connection arranged in an online trading platform; registering, in a database in the memory device and via the network connection, one or more environmental offset credits to respective owners thereof; requesting, via the network, equitization of at least a portion of the one or more environmental offset credits by a securities regulator; applying a unique identifier supplied by the securities regulator to the equitized one or more environmental offset credits; and assigning custody of each of the equitized one or more environmental offset credits to a custodian and storing the custodian assignment in the database.04-14-2011
20100262527COMMODITY BROKERING SYSTEM FOR MATCHING BUYERS AND SELLERS AND ASSOCIATED METHODS - A method for establishing a connection between a buyer and a seller of a commodity gathering buyer demographic data and purchase criteria and querying a database containing sellers' data. The query method includes using the buyer's criteria set as a filter, and creating a data set including at least one potential seller having a commodity matching at least some of the buyer's criteria set. The software then transmits to at least one of the sellers in the data set at least some of the buyer's demographic data and criteria set, affording that set of sellers the opportunity to contact the buyer directly and make an offer of the seller's commodity. In some cases, negotiations can be entered into in order to reach an optimal result for the buyer and the seller. If successful, a purchase can be completed between the buyer and at least one of the sellers.10-14-2010
20090030827SYSTEM AND METHOD FOR MONITORING AND ANALYZING PROCUREMENT PROCESS FOR PROFESSIONAL SERVICES - A system and related method are provided for monitoring and analyzing procurement process for professional services. The system includes a database management system (DMS) stored on a computer-readable medium, having information a plurality of datasets that correspond to information for professional services. The system further includes data analysis and display modules (DADM) that facilitate access to and analysis of the data of the DMS. The system benefits users throughout the procurement process, such as, identifying bid requests that align with the user's capabilities and interests, analyzing data which allows users to evaluate RFPs and develop bidding strategies, aiding in the preparation of proposals, and assisting in the negotiation of contracts after a winning bid, to name a few.01-29-2009
20090265267DERIVATIVES TRADING METHODS THAT USE A VARIABLE ORDER PRICE - Methods and systems for an exchange to handle variable derivative product order prices are disclosed. The price of a derivative product order (bid or offer) is updated based on changes in the price of a related underlying product. Price determination variable(s), such as delta and gamma, are used to determine the price of the order. The exchange may periodically recalculate the price without requiring the trader to transmit additional information to the exchange.10-22-2009
20090048964Trading of Derivative Secured Index Participation Notes - Techniques are described for securitizing, administrating and trading various index shares securitized by derivative, cash-settled instruments on the underlying index.02-19-2009
20090048963SYSTEMS AND METHODS FOR FACILITATING TRANSACTIONS WITH INTEREST - A financial account issuer facilitating transactions between accounts is disclosed. The invention provides sellers with an irrevocable method of receiving funds from a purchaser and for improving purchaser willingness to transact with an unknown party. The invention also includes the options of interest payments, the use of different account issuers, different financial accounts, budget transfers, spend compartmentalization, cost-splitting, adjusting credit limits, loans, gifting, intermediary facilitating the transaction, transaction tracking, rapid funds availability, confidential transfer of funds, immediate initiation of shipment by a seller, releasing funds to a seller only after approval of the goods, services, or other value, demonstrating proof of payment, and recourse against a remote seller.02-19-2009
20090048962Interactive Security Brokerage System - The present invention provides an interactive browser based system providing market information regarding municipal bonds which allows users to search for, identify, analyze, compare, auction and/or purchase municipal bonds.02-19-2009
20100057605ACCEPTING DOCUMENTS FOR PUBLICATION OR DETERMINING AN INDICATION OF THE QUALITY OF DOCUMENTS - The invention concerns accepting documents for publication. In particular, but not limited to, the invention concerns the publication of research related papers, such as publishing academic manuscripts on the Internet. The invention also concerns determining an indication of the quality of a document. Using the invention documents are accepted or rejected for publication, and/or an indication of the quality of a document is determined based on market forces associated with the selling of shares in the document. The participants all trade in the virtual market place with the aim of increasing the number of tokens that they own which reflects their reputation as an assessor of documents. This affects the value of shares in documents by increasing the value of documents of a higher quality. Aspects of the invention includes methods, a computer system and software applications used to perform the methods.03-04-2010
20120246057SYSTEM AND METHOD FOR PROVIDING MARKET DATA IN AN ELECTRONIC TRADING ENVIRONMENT - A system and methods are developed for providing market data in an electronic trading environment. One example method includes determining a probability model comprising a probability corresponding to a change in relation to a market data parameter, then, using the probability to generate a compressed bit stream representing the market data parameter, and providing the compressed bit stream to the client terminal.09-27-2012
20090216674Volatility Detection in a Non-Trading Security's Price Quotation - To ensure that a security does not experience large fluctuations in price after being released from a halt or an IPO, a volatility detection process is used to monitor a pre-release stability of the security based on pre-release orders to buy and orders to sell. These pre-release orders to buy and orders to sell establish an equilibrium price, a cross price. A security is released only when the cross price has been stable for a predetermined period of time prior to the release.08-27-2009
20100070399System and method for trading multiple tradeable objects using a single trading interface - A system and method are provided for displaying information related to a plurality of tradeable objects using a single graphical interface. One example graphical interface includes at least two screen regions displayed in relation to each other, with each region including a plurality of locations. Each location in the first screen region corresponds to a value along a first value axis, and each location in the second screen region corresponds to a value along a second value axis. The graphical interface also includes a first indicator in the first region and a second indicator in the second region. In response to a repositioning command based on an algorithm, the graphical interface includes a repositioned first value axis and the second value axis, such that the indicators are displayed in new locations determined based on the algorithm.03-18-2010
20100063918 METHOD TO PRIORITIZE PRODUCT REQUIREMENTS - A method for prioritizing features that can be incorporated into a product, the method including: issuing a weighting factor to each stakeholder having an economic interest in the product, a size of the weighting factor being proportional to a size of a budget for each stakeholder; bidding an amount of the weighting factor for each feature by each stakeholder, a total amount bid by each stakeholder is not to exceed the size of the weighting factor issued to each stakeholder; summing the amounts bid for each feature to provide a total feature bid for each feature; and prioritizing the features in order from highest total feature bid to lowest total feature bid.03-11-2010
20110178918High Speed Processing of Financial Information Using FPGA Devices - A high speed system and method for processing financial instrument order data are disclosed. With respect to an exemplary embodiment, a reconfigurable logic device is employed to monitor a financial instrument order based on a risk profile to determine whether the order is appropriate. If determined appropriate, a financial instrument order can be routed to a trading venue. With respect to another exemplary embodiment, a reconfigurable logic device is employed to maintain a financial instrument order book.07-21-2011
20110178917High Speed Processing of Financial Information Using FPGA Devices - A high speed apparatus and method for processing a plurality of financial market data messages are disclosed. With respect to an exemplary embodiment, a reconfigurable logic device is employed to map the symbols present in the financial market data messages to another symbology.07-21-2011
20110178913HYBRID TRADING SYSTEM FOR CONCURRENTLY TRADING COMBINED ORDERS FOR FINANCIAL INSTRUMENTS THROUGH BOTH ELECTRONIC AND OPEN-OUTCRY TRADING MECHANISMS - A system and method of trading combined orders in an exchange configured for trading by a combination of electronic and open-outcry trading mechanisms is provided. One method includes receiving an incoming order having a first order component and a second order component at an electronic trade engine and routing the first and second order components to a first electronic database. The first and second order components are matched and executed against order components maintained in the first and second electronic databases, respectively. Any unexecuted first and second order components are placed in an electronic book according to a predetermined program if the first or second order component cannot be completely matched against any order components maintained in one of the first or second electronic databases. The system includes a trade engine configured for receiving combined orders from market makers.07-21-2011
20100063920Exposure Based on Capacity - This invention relates to hedge fund indexing in general and methods and systems for constructing and maintaining investable hedge fund indices in particular.03-11-2010
20100063919TRADING STYLE AUTOMATED ANALYSIS AND REVERSE ENGINEERING - A trading style reverse engineering system capable of learning specific trading styles by automated analysis and reverse engineering comprising: a data acquisition system having an input communicating with a securities exchange and various market news sources for receiving buy/sell data and market news data; an order and execution import module having an input communicating with model trader's trading interface for acquiring model trader order and execution data; a clock for generating clock times; a decision logic having a repository for storing a set of buy/sell rules for buying and selling securities in response to said buy/sell data, said market news data, and said order and execution data with said clock times; a knowledge database having inputs for receiving data from said order and execution import module, said data acquisition system, and said decision logic; a processing logic having inputs respectively communicating with said data acquisition systems, said order and execution module, and with said clock for assigning respective clock times to said market data and model trader data.03-11-2010
20100057601System and Method for Conducting Auctions - A method and system for conducting an auction in an adult-entertainment facility includes a display operable to display a plurality of entertainer identifiers each corresponding to a different one of a plurality of adult entertainers within an adult-entertainment facility. Bidding devices with unique bidder identifiers are used by patrons and are operable to electronically transmit bids to a central processor, which associates the bid with the identified entertainer and bidder and determines if the bid has a bid-winning status. If the bid has winning status at the end of the auction, the bidder is provided with the dancer's company for a pre-set amount of time.03-04-2010
20100057607System, Method, And Program Product For Foreign Currency Travel Account - Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency finds including both principal and accrued interest.03-04-2010
20100057606Syndication Loan Administration and Processing System - A loan syndication tracking and management system and method provides a user with access to specific details related to a syndicated loan. The system and method coordinates investor, borrower and resource information, in addition to features related to the overall structure of a syndicated loan. Users access the system with various levels of permissions to view, add, update or delete information according to their allotted permissions. The system permits multiple users to access the information for efficient handling of approvals and requests related to multiple investors and borrowers, in addition to handling institution interchanges and notifications. The system and method keeps a record of all transactions and changes for review, reporting or regulatory purposes. The administration of a syndicated loan transaction is simplified while providing advanced features such as support for loan trading.03-04-2010
20120271748ENGINEERING PROCESS FOR A REAL-TIME USER-DEFINED DATA COLLECTION, ANALYSIS, AND OPTIMIZATION TOOL (DOT) - A method, system, process, and computer program that receives, collects, displays, and optimizes user-defined data. The collection, analysis, and optimization process is applicable to a wide variety of industries for both real-time and historical data. Some sample industries that will benefit from this invention include: securities trading, vehicular traffic optimization, medical image scanning, wireless communications, and aircraft routing.10-25-2012
20100070400DYNAMIC COMPUTER SOFTWARE FOR TRADING SECURITIES - The invention relates to a computer-implemented process for trading a position in a security. The process is executed by a computer program that determines a reference price for the security, monitors the value of the security over time, and receives an input corresponding to a differential in the value of the security. A trigger price is determined for the security as a function of the differential and the reference price. The program liquidates the security after determining that the value of the security reaches or passes the trigger price in a first direction. After liquidating the security, the program automatically acquires at least one position in the security when the value of the security reaches or passes the trigger price in a second direction opposite to the first direction. The computer-implemented process and program may be modified in several ways.03-18-2010
20100070404METHOD AND SYSTEM FOR TRACKING AND REPORTING EMISSIONS - The present invention relates to methods and systems of tracking enterprise gas emissions such as greenhouse gas emissions. The systems and methods relate to collecting or entering data relating to one or more emissions source of an enterprise or an enterprise location, calculating emissions totals, and, according to certain embodiments, generating emissions reports.03-18-2010
20100070401APPARATUS AND METHODS TO DETERMINE WHETHER AN ORDER IS A TEST ORDER - In various embodiments, a data signal is received from a computer system. The data signal includes an order for an instrument and further includes an indicator. The indicator indicates that the order is one of a real order or a test order. The order is a test order. A test order that specifies a bid cannot bind an originator of the test order to tender money. A test order that specifies an offer cannot bind the originator of the test order to tender the instrument. The order is matched to another order. Whether the order is a test order or a real order is determined, based at least in part on the indicator.03-18-2010
20100070403System and Method for Order Placement in an Electronic Trading Environment - A system and associated methods are provided for intelligent placement and movement of orders in an electronic trading environment. According to one example method, in addition to submitting a leg order at a calculated price level, additional orders, queue holder orders, are submitted for the leg order at prices either below or above the calculated price level. Based on this configuration, if the conditions change such that it is necessary to re-price the leg order, there will be already an order resting in the exchange order book at the re-calculated price that can be used in the strategy. Upon re-pricing the leg order, one or more additional queue holder orders will be placed in the market. Other tools are provided as well.03-18-2010
20110082786HEDGING RISKS ASSOCIATED WITH VARIABLE PRICED ORDERS FOR DERIVATIVE FINANCIAL PRODUCTS - Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. Alternatively, a best efforts approach may be used to fill the hedge transaction order after executing the derivative product transaction.04-07-2011
20100241551System and method of implementing massive early terminations of long term financial contracts - A method of and system for terminating or assigning outstanding OTC derivative transactions between a plurality of financial institutions (banks). The system comprises: a processing station arranged to receive transaction data describing a plurality of transactions from a plurality of banks via the Internet. The processing station comprises: a linking module for linking different versions of the same transaction received from different parties to that transaction; an analysis module for determining a set of linked transactions between a plurality of different banks, wherein each bank has debts and claims towards other banks in the set; a calculation module arranged to calculate an aggregated value of each set of linked transactions and select the set of linked transactions which has an aggregated value within bank-specified tolerance limits acceptable for executing a termination; and an execution module for executing a termination or assignment of the selected set of linked transactions.09-23-2010
20100241550INTERPROGRAM COMMUNICATION USING MESSAGES RELATED TO EVENTS AND ACTIONS ON AN EXCHANGE - Various embodiments of exchanges are described. Methods and other embodiments are also described.09-23-2010
20110099100ROUTE SEARCHING APPARATUS AND ROUTE SEARCHING METHOD - According to the present invention, at least one route that satisfies a route search condition received from an information processing terminal and information distributor identification information for identifying an information distributor is created, greenhouse gas emissions emitted when the route is used are calculated for each of the routes, a route search result including the route and the emissions are transmitted to the information processing terminal, a route selection request is received from the information processing terminal, the emissions are offset by subtracting emissions corresponding to the selected route from an amount of emission credits stored in a storage unit, corresponding to the information distributor identified by the information distributor identification information, and an offset result is transmitted to the information processing terminal.04-28-2011
20110078064System and Method for Using Order Modifiers in Relation to Trading Strategies - A quantity modifier and a price modifier are provided for a spread trading strategy having a desired spread price and a desired spread quantity. According to an example embodiment, a quantity modifier divides the desired spread quantity into a plurality of disclosed spread quantities. Once the disclosed quantities are determined, a plurality of disclosed spread orders having the disclosed spread quantities are sequentially submitted to the market until the full desired spread order quantity is executed or until a predefined condition is detected. A price modifier determines a price level for each disclosed spread quantity, such that each disclosed spread order may be submitted at a different price level.03-31-2011
20110078067Method and system configured for facilitating management of international trade receivables transactions - A receivables transaction management platform is configured for facilitating management of international trade receivables transactions. The platform includes a task manager layer and a platform functionality layer. The task manager layer is configured for facilitating management of transaction information workflow tasks and export receivables to tasks. The platform functionality layer is accessible by at least a portion of the managers and is configured for enabling facilitation of the transaction information workflow tasks and the export receivables tasks. Managing the transaction information workflow tasks and export receivables tasks includes facilitating preparation of a document and data portfolio required for settlement of an international trade receivables transaction, facilitating electronic submission of the document and data portfolio to a designated recipient and facilitating acceptance of the document and data portfolio. The platform functional components are configured for enabling user workflow functionality, data mapping functionality, data analysis functionality, data storage functionality and third party access functionality.03-31-2011
20110153486Click Based Trading with Intuitive Grid Display of Market Depth - A method and system for reducing the time it takes for a trader to place a trade when electronically trading on an exchange, thus increasing the likelihood that the trader will have orders filled at desirable prices and quantities. The “Mercury” display and trading method of the present invention ensure fast and accurate execution of trades by displaying market depth on a vertical or horizontal plane, which fluctuates logically up or down, left or right across the plane as the market prices fluctuates. This allows the trader to trade quickly and efficiently.06-23-2011
20110082787Volume Control For Mass Quote Messages - Systems and methods are provided for processing mass quote messages and generating market data. A mass quote message is received and individual orders are parsed and processed. Individual market data messages are stored in a market data message buffer. After all orders are processed, the contents of the market data message buffer is distributed as a single market data message.04-07-2011
20110082783EXCHANGE TRADED AND MANAGED SOVEREIGN DEBT - A method of trading sovereign debt on an electronic trading exchange is disclosed. The method includes receiving financial parameters associated with a plurality of debt instruments offered by a sovereign entity, wherein the financial parameters include at least a maturity, a coupon and a rating, organizing the plurality of debt instruments according to their maturity and rating to define one or more debt instrument groups, defining a standardized financial product associated with each coupon in the one or more debt instrument groups, listing each standardized financial product on the an electronic trading exchange, and matching at least one of the standardized financial products with an order received at the electronic trading exchange.04-07-2011
20100241554METHOD AND SYSTEM FOR PRICING FINANCIAL DERIVATIVES - A method for providing a bid price and/or an offer price of an option relating to an underlying asset, the method including the steps of receiving first input data corresponding to a plurality of parameters defining the option, receiving second input data corresponding to a plurality of current market conditions relating to the underlying value, computing a corrected theoretical value (CTV) of the option based on the first and second input data, computing a bid/offer spread of the option based on the first and input data, computing a bid price and/or an offer price of the option based on the corrected TV and the bid/offer spread, and providing an output corresponding to the bid price and/or the offer price of said option.09-23-2010
20110071938METHOD AND SYSTEM FOR CREATING AN EQUITY EXCHANGE FUND FOR PUBLIC AND PRIVATE ENTITIES - A method and system for creating an equity exchange fund for public and private entities are provided. The method includes the steps of receiving an application to participate in the fund from at least one investor, the investor having a position in at least one commercial entity; evaluating the entity based on at least one predetermined criteria; if the entity is acceptable, performing a valuation of the position in the entity; and determining a number of shares of the fund to be exchanged for the position in the entity. The determining the number of shares step includes determining a future value of the position at a scheduled date of liquidation of the fund; dividing the future value of the position by a total current fund value plus the future value of the position to determine a ratio; and multiplying a number of shares of the fund by the ratio.03-24-2011
20110071935System and method for facilitating trading of financial instruments - A system and method for facilitating trading of financial instruments. According to one embodiment, an application receives an indication of interest to trade a financial instrument by a first party, provides the indication of interest to other parties without disclosing a side of trade, receives an offer to trade the financial instrument by a second party based on the provided indication of interest, a side of trade being associated with the offer by the second party but not disclosed to the first party, and receives either a rejection or an acceptance of the second party's offer by the first party.03-24-2011
20110060680SYSTEM AND METHOD FOR MANAGING TRADING USING ALERT MESSAGES FOR OUTLYING TRADING ORDERS - According to one embodiment, a method of managing trading is provided. In a market for a particular type of instrument, buy orders and sell orders are received from a plurality of traders. Each buy order has an associated bid price and each sell order has an associated offer price. A determination is made of whether the particular trading order is an outlying trading order by determining whether the particular trading order differs from at least one comparison price by more than a threshold value. If it is determined that the particular trading is an outlying trading order, a restrictive action is taken regarding the outlying trading order. For example, if a trader subsequently submits another trading order that would trade with the outlying trading order, an alert message may be sent to the trader and the subsequent trading order may be prevented from trading with the outlying trading order at least temporarily.03-10-2011
20110071937TRADING ORDER ROUTING - An apparatus for routing trading orders comprises a memory and a processor. The memory stores first trading information associated with a first buy order placed with a first market center. The first buy order is associated with a product and the first trading information comprises a disclosed quantity of the product and a reserved quantity of the product. The memory also stores second trading information associated with a second buy order placed with a second market center. The second buy order is associated with the product and the second trading information comprises a disclosed quantity of the product and a reserved quantity of the product. The processor is coupled to the memory and receives a sell order associated with a quantity of the product. The processor further cancels at least a portion of the second buy order placed with the second market center for placement with the first market center. The canceled portion of the second buy order is determined based at least in part upon the second trading information. The processor further routes at least one additional sell order to the first market center having a quantity that is based upon at least one of the first trading information and the canceled portion of the second buy order.03-24-2011
20110071936EXCHANGE TRADING SYSTEM AND METHOD HAVING A VARIABLE MAKER-TAKER MODEL - A method is described for providing one of a plurality of maker-taker pricing models to a system connected with the exchange system. The method includes the steps of an exchange server receiving from a first market participant of the exchange a marked order at the exchange connected to a database, the marked order marked with an indication of an expected rebate amount for trading orders; associating the marked order with an order from a second market participant of the exchange stored in a database configured to receive and store orders having varying rebate amounts according to the expected rebate amount; and executing the marked order according to the indication of an expected rebate amount. An exchange system for accessing at least one maker-taker pricing model for executing a trade on an exchange is also disclosed.03-24-2011
20120303507Interface for Electronic Trading Platform - An electronic trading platform provides a system and methods including an interface for presenting market data and receiving user input for entering orders to buy and sell financial instruments on an exchange. The interface includes an order entry window adapted to display price information relating to a financial instrument traded on the exchange. The price information is presented as a portion of price spectrum including all possible prices for the financial instrument. The portion of the price spectrum is presented within the order entry window in a first dynamic mode when operational focus is on an interface window other than the order entry window, and the portion of the price spectrum is presented within the order entry window in a static or partially static order entry mode when operational focus is on the order entry window. Orders to buy and sell the financial instrument are created by, among other things, selecting a price and a quantity to be included in the order to buy or sell the financial instrument.11-29-2012
20120303513Repositioning of Market Information on Trading Screens - As market conditions descend or ascend an axis of prices, the display of market information is repositioned, at a pre-determined rate if desired, around an item of interest. An item of interest may include the best bid price, the best ask price, the inside market, a moving average, a last traded price, a theoretical value, the result of an equation, or some other item of interest to the trader. According to the present embodiments, market information may be displayed in a region relative to an axis of prices, and when an event occurs, a repositioning signal is initialized causing the axis to be repositioned such that the item of interest is positioned at a pre-determined location in the region. The price axis can be repositioned at a fixed rate or at a dynamically variable rate.11-29-2012
20120303512Transformation of a Multi-Leg Security Definition for Calculation of Implied Orders in an Electronic Trading System - An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradable combinations and advertises the availability of real and implied orders in the form of market data. New tradable items defined as combinations of other tradable items may be included in the calculation of tradable combinations. A technique is disclosed for transforming a combination or strategy contract with an arbitrary number of buy and sell legs with an arbitrary volume ratio for each leg into a form that can be used for rapid implied order calculations.11-29-2012
20120303511METHOD AND SYSTEM FOR DETERMINING MARKET ESTIMATES WITH MARKET BASED MEASURES - A method and system for determining market estimates with market based measures. Market estimates for a set of time periods are received from plural qualified institutions that have agreed to a pre-determined set of regulations to participate in establishing, conducting business and processing transactions based on calculated market term estimates. A set of market term estimates (e.g., LIBOR, interest rates, etc.) is calculated in real-time for each time period in the set of time periods. The calculated set of market term estimates is sent to qualified institutions. The qualified institutions are required to conduct business and make transactions based on the calculated set of market term estimates. The calculated set of market term estimates is created and used on both cloud communication networks and non-cloud communications networks.11-29-2012
20120303510Derivative Products - Methods, systems and apparatuses are described for processing and clearing derivatives products with a digital outcome and a plurality of constituents. A computer system configured to process and clear derivative products can accept initial and adjusted performance bonds from buyers and sellers, and adjust the market price of the derivative product at intervals. The market price may be adjusted on a mark-to-market basis and through analysis of other information, e.g., a change in credit rating of reference entities of the derivative product. As a result of price adjustments, cash flow may be generated between buyers and sellers (e.g., credit and debit to accounts). The derivative product may pay a percentage of a predetermined final settlement amount upon the triggering of a predetermined event in each of the constituents of the derivative product. However, upon expiration of the derivative product, the derivative's market price is settled to zero and the agreement is terminated.11-29-2012
20120303509SYSTEM AND METHOD OF IMPLEMENTING MASSIVE EARLY TERMINATIONS OF LONG TERMFINANCIAL CONTRACTS - A method of and system for terminating or assigning outstanding OTC derivative transactions between a plurality of financial institutions (banks). The system comprises: a processing station arranged to receive transaction data describing a plurality of transactions from a plurality of banks via the Internet. The processing station comprises: a linking module for linking different versions of the same transaction received from different parties to that transaction; an analysis module for determining a set of linked transactions between a plurality of different banks, wherein each bank has debts and claims towards other banks in the set; a calculation module arranged to calculate an aggregated value of each set of linked transactions and select the set of linked transactions which has an aggregated value within bank-specified tolerance limits acceptable for executing a termination; and an execution module for executing a termination or assignment of the selected set of linked transactions.11-29-2012
20120303508METHOD AND SYSTEM FOR DETERMINING, CONTRACTING TO EXCHANGE, AND ACCOUNTING FOR MATCHED SETS OF OFFSETTING CASH FLOWS - Among other embodiments, methods and systems are disclosed for determining one or more sets of structured cash flows corresponding to a graph having one or more nodes corresponding to one or more exchange definitions or swap transactions. The net present value of a structured cash flow may be substantially zero, and may correspond to a maximum notional amount, a maximum flow, or a minimum cut.11-29-2012
20120303506System and Method for Auctioning in a Multiple Seller / Single Buyer Environment - A system and method for minimizing the purchase costs to a buyer of Units in a multiple seller/single buyer auction environment are described. The method includes presenting sellers of Units with a buyer's demand and an initial per Unit price offer. Seller(s) may accept the offer by transmitting a quantity of Units to be associated with the acceptance. If no acceptance of the offer is received, or the total acceptances are less than the demand, the per Unit price offer may be incrementally increased. As acceptances are received, the demand may be reduced by the quantities associated with the acceptances and the remaining demand published to the auction participants. The process continues until the buyer's demand is filled or a maximum per Unit price is reached. If a maximum per Unit price is reached before the demand has been filled, some embodiments may publish a “last call” per Unit price.11-29-2012
20110251941MONEY TRANSFER SMART PHONE METHODS AND SYSTEMS - A method includes establishing a first funds transfer account associated with a first device and a second funds transfer account with a second device, funding at least the first fund account, and selecting the second device as the recipient of a funds transfer from the first device. The method further includes sending a communications link request from the first device to the second device and receiving acceptance of the communications link request from the second device. The method then establishes a communications link between the first device and the second device, initiates a funds transfer from the first device to the second device, wherein the amount is designated at the first device, and verifies the funds transfer amount, the first funds transfer account, and the second funds transfer account. Then, the method transfers the amount to the second funds transfer account associated with second device.10-13-2011
20110251943SYSTEM AND METHOD FOR DISPLAYING MARKET INFORMATION AND ORDER PLACEMENT IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method are provided for displaying a trading screen and placing an order in an electronic trading environment. The system and method may be used to assist a trader in selecting an item of interest, such as the inside market (best bid and best ask) to be displayed relative to a user configured location on the trading screen, such as the center of the trading screen. In a preferred embodiment, the inside market will stay located relative to center of the trading screen and the price levels associated to the inside market will move as the market conditions fluctuate. Other features and advantages are described herein.10-13-2011
20110060681SYSTEMS AND METHODS FOR LINKING ORDERS IN ELECTRONIC TRADING SYSTEMS - Systems and methods for linking orders in electronic trading systems are provided. These systems and methods enable a trader to select two or more items that are to be linked and specify linking parameters for those items. Any desired set of items may be linked, and the linking parameters may include price adjustments, order sequencing instructions, automatic/manual execution controls, execution delays commands, and update frequency limits. Upon detecting a bid or offer for a linked item, the systems and methods may then determine a size and a price for each linked item based upon the size and the price of the bid or offer for the first linked item. In this way, the sizes and the prices for the other linked items may be propagated from the size and the price for the first item. Once the size and the price for each item is determined, the systems and methods may submit orders for the items in accordance with the linking parameters. In the case where orders for linked items may only be submitted in designated lot sizes, the systems and methods may round the sizes of the orders to the designated lot sizes, and then submit remainder orders to make up for the rounding.03-10-2011
20110060679METHOD AND SYSTEM FOR ADMINISTERING A DISCOUNTED SECURITY - An exchangeable security, tradable on a securities exchange is issued at a share price that is a discount from the share price of an underlying security or basket of underlying securities. At or prior to maturity of the exchangeable security, a holder of the exchangeable security may exchange a share of the exchangeable security for a share of the underlying security or basket of underlying securities. The exchangeable security may also include a linked payment that is redeemable for the full amount of the payment on maturity of the exchangeable security. Alternatively, the exchangeable security may be issued at the share price of the underlying security with the linked payment. The invention provides methods for issue, trade and redemption as well as systems for issue, trade and redemption of the security.03-10-2011
20110060675COMPOUND REDEMPTION DEVICE - The present invention provides methods and apparatus one or more of: creating, issuing and redeeming Compound Redeemable Instruments. Apparatus can include a computerized system with executable software that is executable upon demand to process Redemption Instances as well as create and issue Compound Redeemable Instruments.03-10-2011
20110060674COMPUTER-IMPLEMENTED GLOBAL CURRENCY DETERMINATION - Embodiments of the present invention are directed at least in part to a computer-implemented method for determining the value of a global currency. Data indicative of a Gross Domestic Product (GDP) value of each of a plurality of countries is used to select a plurality of countries on the basis of a predetermined criterion, and then relative weightings of the selected countries are evaluated on the basis of their respective GDP values. The global currency is evaluated by combining the evaluated relative weightings with currency values associated with the selected countries.03-10-2011
20130166431SYSTEM AND METHOD FOR PROVIDING HIGH PERFORMANCE COMPLIANCE SERVICES USING PRE-CALCULATED RULE EVALUATION - The present invention relates to a compliance system that allows users to verify that trading rules and regulations are being followed throughout the intraday trading activity. In particular, the systems and methods of the present invention allow a user to verify compliance with trading rules locally at a trading terminal.06-27-2013
20130166432System And Method For Regulating Order Entry In An Electronic Trading Environment - A system and method are provided for defining slop parameters to an individual spread order or a customized group of orders. The system and method may be used to, for example, define inside slop, outside slop, and/or adjustable range parameters to one or more orders. The inside slop, outside slop, and/or adjustable range parameters may be input by a trader, and, among other things, allow a trader to prioritize orders, set parameters so that some orders are re-priced more aggressively than other spread orders. Alternatively, slop parameters associated with a spread order may also apply more restrictive slop parameters to orders within the same adjustable range. Slop parameters associated with a spread order can also be configured and modified by a trader based on the trader's preferences. Other features and advantages are described herein.06-27-2013
20130166433METHOD AND SYSTEM FOR COLLECTING AND PARSING MARKET DATA FROM VARIOUS SOURCES - A system comprises at least one computer device in communication with one or more server computers. The system converts unstructured text into usable order details, and uses instant messaging to notify recipients of the order details. The notices include electronic web links that launch a web interface that generates an editable, pre-populated electronic order ticket based on the order details. Submission of the electronic order ticket launches an auction during which the recipients may respond with offers to fulfill to the electronic order ticket. If after the auction more than one response is needed to fill the electronic order ticket, the system automatically allocates how and in which order the responses will be used to fill the electronic order ticket. If the electronic order ticket is not completely filled after the auction, the electronic order ticket is submitted to one or more additional exchanges for further filling.06-27-2013
20120066114System and Method of Utilizing a Distributed Order Book in an Electronic Trade Match Engine - Methods and systems are providing for minimizing the effects of transmission delays when providing orders for financial instruments. A plurality of order books and match engines may be maintained at geographically dispersed locations. The orders may be synchronized to provide the appearance of a single order book to traders and other users. The plurality of order books and match engines allow traders and other users to transmit orders to the match engine associated with the shortest transmission delay and to access orders pending at other match engines.03-15-2012
20110258102Precious metal financial instrument - In accordance with the principles of the present invention, a computer-implemented precious metals investment product and process for pricing a precious metals composite product are provided. A measured unit of trade is established. The measured unit of trade comprises a plurality of precious metal components. The measured unit of trade is quoted and traded as a unit, thus allowing for uniformity in the ongoing offers to buy and sell a fixed quantity, or multiples of this fixed quantity, and pricing consistency for the metals. The precious metals components are backed by physical precious metals. The precious metals components are electronically tracked and priced in live market prices. Live pricing of the precious metals composite product is provided utilizing the live pricing of the precious metal components. An investor retains the option to take delivery of their precious metals or to liquidate by a plurality of methods.10-20-2011
20100280937METHOD AND SYSTEM FOR CREATING AND TRADING MORTGAGE-BACKED SECURITY PRODUCTS - A computer-implemented method of creating a derivative investment instrument on an exchange having processor-based equipment is disclosed. The method includes receiving a default rate from a mortgage issuer, the default rate corresponding to a collection of mortgage-backed securities associated with at least one mortgage of the mortgage issuer; associating a risk value with the default rate; creating the derivative investment instrument having a monetary value related to the risk value; and providing, with the processor-based equipment, the derivative investment instrument for trading on an exchange. The method may be stored in a computer-readable memory accessible by the processor-based equipment.11-04-2010
20100280936SYSTEM AND METHOD FOR PROCESSING AND SETTLING PAYMENT INSTRUCTIONS RELATING TO VARIOUS FINANCIAL INSTRUMETS - A system for facilitating settlement of payments relating to transactions involving financial instruments among multiple participants is provided. An interface receives from participants first and second instructions associated with a financial instrument of a first form, and first and second instructions associated with a financial instrument of a second form. A first processor establishes an association between, and applies a first set of pre-settlement rules to, the first and second instructions associated with the financial instrument of the first form. A second processor establishes an association between, and applies a second set of pre-settlement rules to, the first and second instructions associated with the financial instrument of the second form.11-04-2010
20110213695System and Method for Computing and Displaying Effective Bid and Ask Information - A data feed from an electronic exchange carries certain pieces of market information. Software at the trading station receives the data feed and computes an effective bid price and/or an effective ask price based on a particular quantity to trade. Then, the effective bid price and/or effective ask price are indicated to the user. An effective bid price is an average price at which a certain quantity could be sold based on current market conditions. An effective ask price is an average price at which a certain quantity could be bought based on current market conditions. Depending on the available quantities in the market, the effective prices may represent spreads different from the actual spread of the inside market. This information may be used to, among other things, make more accurate trades at prices. Additionally, a derivative of price, such as yield, may be used to compute other types of effective bid and/or ask information.09-01-2011
20110213694METHOD, APPARATUS AND INTERFACE FOR TRANSACTION TOGGLING - A method for submitting transactions from an automated trading tool to an electronic exchange. The method includes defining a proximity limit and automatically generating a transaction for a tradeable object. The method further includes applying the proximity limit to the transaction. When the transaction falls within the defined proximity limit, the transaction is submitted to the exchange. An apparatus and interface for transaction toggling based on proximity limits are also provided.09-01-2011
20110213693SYSTEM FOR APPRAISING A FINANCIAL PRODUCT - A method and system of appraising a financial product includes receiving a request for a financial product and information about a party requesting the financial product; preparing a bid solicitation for the financial product based on the request and information and transmitting the bid solicitation to a plurality of product carriers; a plurality of product carriers submitting initial proposals for providing the financial product; generating ratings for the initial proposals, respectively; and generating appraisals for the initial proposals; and informing the product carriers of the decision.09-01-2011
20100325034Aggregated Trading System - A trading system is described herein for hosting a collection of one or more electronic exchanges. The collection of electronic exchanges may be made up of separately designated exchanges under one or more authorizing and regulating bodies. The trading system receives from traders bids to purchase and offers to sell a tradeable object listed at one of the electronic exchanges. Then, the trading system directs the bids and offers to the appropriate exchange where the bids and offers may be automatically matched in the corresponding market. The trading system may also be used to take actions in one or more markets that are internal and external to the trading system on behalf of a trader using preprogrammed trading instructions.12-23-2010
20120150719System, Method, And Program Product For Foreign Currency Travel Account - Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.06-14-2012
20100280938System and Method for Money Management in Electronic Trading Environment - A system and method for money management in an electronic trading environment are presented. According to one embodiment, a trader may configure a plurality of filters, each including at least one filter criteria and filter condition. When a money management module detects a new order, the money management module intercepts the order and determines if the order matches one or more predefined filters. If the order matches one or more filters then conditions associated with the applicable filter(s) are applied to the order. The application of one or more conditions to an order may result in sending a modified order, preventing the order from reaching the exchange, or sending order to the exchange without any modifications.11-04-2010
20110153488SYSTEMS AND METHODS FOR MARKET ORDER VOLUME CLEARING IN ONLINE TRADING OF CREDIT DERIVATIVES - Systems and methods for market order volume clearing in online trading of credit derivatives are disclosed. In one embodiment, a method for market order volume clearing may comprise: selecting, from a plurality of credit derivatives, at least one most liquid credit derivative; determining a volume clearing price level for the selected credit derivative; inviting trading clients of the electronic trading system to submit, within a time limit, buy orders and sell orders for the selected credit derivative at the volume clearing price level, each buy order or sell order specifying a desired volume; matching the buy orders and the sell orders submitted within the time limit to maximize a total notional amount of the selected credit derivative that can be traded at the volume clearing price level; and completing trades at the volume clearing price level according to the matching of orders.06-23-2011
20110153484SYSTEMS AND METHODS FOR CENTRAL PROCESSING OF MUTUAL FUND TRANSACTIONS - More efficient systems and methods for processing mutual fund transactions are provided by a centralized settlement and record-keeping repository for mutual fund shares. These systems and methods result in significant enhancements and cost savings to the mutual fund industry.06-23-2011
20110153483System and Method for Providing Financing for Long/Short Trading Strategies Including Convertible Arbitrage Transactions - A method and apparatus for providing financing for long/short trading strategies including convertible arbitrage transactions is described. First, this novel strategy packages longs and shorts into a single purpose transparent vehicle based on a Single Risk Based Strategy. Second, the platform contains rules-based modules which apply variable margins against securities positions. The Unitary Financial Platform performs daily pricing, risk-based computer modeling, custodial monitoring, client interfacing, and risk reporting to external parties. Third, the funding structure requires that clients contribute capital thereby creating equity in the entity. If multiple parties are involved in a single entity, this requirement puts all clients at risk with respect to the other clients in the context of the rules and provides a clearinghouse like aspect to risk sharing within the entity.06-23-2011
20110251942METHOD AND SYSTEM FOR ELECTRONIC TRADING ON A TRADING INTERFACE WITH A DYNAMIC PRICE COLUMN - A method and system for electronic trading on a trading interface with a dynamic price column. Prices displayed in dynamic price column are continuously, dynamically and automatically updated as a current market price changes. The trading interface includes a plurality of order entry modes to slow a display speed of the dynamic price column to a speed slower than a default display speed for the dynamical price column so an electronic trading order can be entered without missing a desired trade.10-13-2011
20100262528COMPOSITE TRADING ORDER PROCESSING - A system for processing a composite trading order comprises a memory operable to store market data received from one or more market centers. The system further comprises a processor operable to generate a composite value based at least in part on the market data. The processor is further operable to receive a composite trading order associated with at least a portion of the composite value. The processor is further operable to generate a plurality of constituent trading orders that, when filled, combine to satisfy the composite trading order.10-14-2010
20110251940GRAPHICAL ORDER ENTRY USER INTERFACE FOR TRADING SYSTEM - On a display terminal of an electronic trading system, a graph is displayed having a first axis and a second axis, wherein the graph includes a curve corresponding to a range of values of a financial instrument. A user is allowed to select a portion of the graph. In response to the user selection of the portion of the graph, a trading dialog box is displayed on the display of the workstation, the dialog box being automatically populated with values for trading, the values based on the values of the selected portion of the graph.10-13-2011
20090276350ELECTRONIC SECURITIES MARKETPLACE HAVING INTEGRATION WITH ORDER MANAGEMENT SYSTEMS - An electronic trading marketplace (ETM) communicates with interfacing modules interfacing directly with order management systems (OMS's) at trading institutions. The interfacing modules automatically transmit orders from the OMS databases to the ETM and update the OMS databases in response to orders executed at the ETM. Traders can communicate with the ETM to anonymously negotiate trades of securities.11-05-2009
20110153487SYSTEM AND METHOD FOR TRADING MULTIPLE TRADEABLE OBJECTS USING A SINGLE TRADING INTERFACE - A system and method are provided for displaying information related to a plurality of tradeable objects using a single graphical interface. One example graphical interface includes at least two screen regions displayed in relation to each other, with each region including a plurality of locations. Each location in the first screen region corresponds to a value along a first value axis, and each location in the second screen region corresponds to a value along a second value axis. The graphical interface also includes a first indicator in the first region and a second indicator in the second region. In response to a repositioning command based on an algorithm, the graphical interface includes a repositioned first value axis and the second value axis, such that the indicators are displayed in new locations determined based on the algorithm.06-23-2011
20080243675High Speed Processing of Financial Information Using FPGA Devices - Methods and systems for processing financial market data using reconfigurable logic are disclosed. Various functional operations to be performed on the financial market data can be implemented in firmware pipelines to accelerate the speed of processing. Also, a combination of software logic and firmware logic can be used to efficiently control and manage the high speed flow of financial market data to and from the reconfigurable logic.10-02-2008
20080243672METHODS AND SYSTEMS FOR PLACING, TRANSMITTING, AND RANKING TRADING ORDERS - In various embodiments, real and test trading orders are processed and results are transmitted back to the entities originating the orders.10-02-2008
20080243671PRODUCTS AND PROCESSES FOR DIFFERENTIATING TRADING ORDERS - In various embodiments, a data signal differentiates between real and test trading orders and a computer system processes the orders based on differing values.10-02-2008
20090210337SYSTEM AND METHOD FOR INTEGRATING A DARK TRADING FACILITY AND A SECURITIES EXCHANGE - A system and method are described for the providing securities exchange members increased liquidity for affecting trades. Securities exchange members will have access to both a Dark Trading Facility and securities exchange for trading. When trading on the security exchange, these members will be able to access the Dark Trading Facility using the security exchange infrastructure. Further, when such members enter orders onto the Dark Trading Facility, they will have access to the security exchange display book from the dark pool of the Dark Trading Facility. The trading transactions executed in the Dark Trading Facility or initiated by the Dark Trading Facility, preferably, are automatic and anonymous.08-20-2009
20090198608SYSTEMS AND METHODS FOR AUCTIONING WIRELESS DEVICE ASSETS AND PROVIDING WIRELESS DEVICES WITH AN ASSET ALLOCATION OPTION - An auction bidding system is provided. The system allows media content providers, such as advertisers, to define bidding constraints for a targeted audience and bid on wireless device assets, such as wireless device memory, application, ringtone, wallpaper and the like, if a biddable wireless device asset is defined. Additionally, the system provides to wireless device users with an option to participate in the allocation of their respective wireless device assets, such as memory, application, ringtone, wallpaper and the like and define conditions, such as content type, time period, and the like, which is to be met in order for the allocation of the wireless device asset to occur. In one or more aspects, wireless device users may be compensated in some form based on their willingness to opt-in to the asset allocation plan.08-06-2009
20090144187SYSTEM, METHOD AND COMPUTER PROGRAM PRODUCT FOR DETERMINING UNDISCLOSED ORDER VOLUME - Systems, methods, and computer program product for generating a report or document including a data representation reflecting a distribution of hidden trade order volume across different locations and a relative size, including average hidden order volume, volume executed against hidden orders, as a percentage of total trading volume by exchange, liquidity group and time bins. Order execution data is received for a plurality of executed trades via an electronic quotation feed associated with an electronic trading forum for trading both displayed orders and non-displayed orders. For a plurality of time periods, the location within the best bid, best offer spread, of each executed trade of the plurality of executed trades, is determined by comparing the price of each executed trade for hidden orders to quotes on a limit book for the electronic trading forum at a point in time substantially immediately before the corresponding executed trade.06-04-2009
20090119196METHOD AND A SYSTEM FOR CONCLUDING AN ELECTRONIC COMMERCIAL TRANSACTION BASED ON A CONDITIONAL OFFER - There is provided a method for concluding an electronic commercial transaction based on a conditional offer, the method comprising receiving a conditional offer associated with a trading product, said conditional offer being originated from a first trading party; receiving a conditional offer acceptance in response to the conditional offer, where the offer acceptance is conditioned on the satisfaction of at least one condition, the conditional offer acceptance being originated from a second trading party; determining if the at least one condition is satisfied; and concluding or declining the electronic commercial transaction between the first trading party and the second trading party as a function of the determining. There is further provided a system for concluding an electronic commercial transaction based on a conditional offer.05-07-2009
20110178919High Speed Processing of Financial Information Using FPGA Devices - A high speed apparatus and method for processing financial instrument order books are disclosed. With respect to an exemplary embodiment, a reconfigurable logic device is employed to (1) process streaming financial market data, the streaming financial market data comprising a plurality of messages representative of a plurality of offers to buy and sell a plurality of financial instruments, and (2) maintain in real-time a plurality of financial instrument order books based on the messages07-21-2011
20110258099FUTURES CONTRACTS ON RESTRICTED COMPENSATION SECURITIES - Futures contracts on options contracts are provided in which the duty to purchase the right to purchase a commodity or security may be agreed upon by two or more parties. The futures contract segment of the exchange device is the duty to purchase the underlying options contract at a specific time. The options contract segment of the exchange device is the right to buy an underlying security or commodity. Margin schemes may be included in either segment of the exchange device or the exchange device as a whole.10-20-2011
20080228632TRADING METHOD AND SYSTEM FOR AN ENVIRONMENTAL COMMODITIES EXCHANGE - Some embodiments provide a method of registering various types of environmental conservation items such as products, projects, or technologies with sets of environmental conservation properties through an electronic interface. In some embodiments, the electronic interface allows registrants the ability to register an environmental conservation item using only a minimal set of identification data, where the identification data includes at least one parameter for identifying the item. The electronic interface facilitates the registration of the item by associating the set of environmental conservation properties to the item.09-18-2008
20120203687SYSTEM AND METHOD FOR PROVIDING MARKET UPDATES IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method are provided for modifying how market updates are provided in an electronic trading environment upon detecting one or more triggering events. One example method includes defining an event to be used to trigger modification of how market updates are provided to a client entity, receiving a market update from an electronic exchange, and, when the event is detected, modifying how the market update is provided to the client entity. As an example, the modification of how the market update is provided to the client entity may include providing less data in relation to market updates, and sending the market updates less frequently.08-09-2012
20120203686SYSTEM AND METHOD FOR MANAGING RISK ASSOCIATED WITH PRODUCT TRANSACTIONS - A method of managing trading orders is provided. The method includes receiving a request to place a first order to trade a first product, the request being made using an account having one or more current balances. The method further includes determining a risk value for the first order based at least in part on the first product. The method further includes determining whether to approve the first order based at least in part on the risk value determined for the first order and one or more of the current balances for the account, and if the first order is approved, placing the first order.08-09-2012
20120203685System and Method for Dynamically Changing an Electronic Trade Order Quantity - A system and methods for dynamically changing a trade order quantity in an electronic trading environment are described herein. According to one example embodiment, an automated trading tool determines if a leaned on quantity of a trading strategy has increased or decreased and if so, dynamically changing a desired order quantity to reflect the change in the leaned on quantity. Dynamically changing an order quantity may be more profitable for a trader as order queue position may be maintained and portion of the desired order quantity may get filled; rather than a trader losing their order queue position and/or taking a chance of not getting any of their order quantity filled.08-09-2012
20120203684SYSTEMS AND METHODS OR BID/OFFER SPREAD TRADING - A bid/offer spread market is presented that allows a trader to increase liquidity in traded items. A bid/offer spread market maker may make a bid/offer spread market. This bid/offer spread market may be made available to any market participant. In response to the spread market, an aggressor may respond to a bid or an offer with a hit or a take, respectively. In response to the hit or the take, the aggressor or bid/offer spread market maker, respectively, may create a separate underlying market using the selected (bid or offer) spread within a specified amount of time. The other party, a bid/offer spread trader, may trade on the quoted price within a specified amount of time, at which point a trade has occurred.08-09-2012
20120203683System and Method for Analyzing and Displaying Security Trade Transactions - A system and methods for processing and charting security exchange trading and market information shows security traders if current transactions originated as buy orders or sell orders, and simultaneously indicates traded quantity. Security exchange trading information is received that includes the price, volume and time of each trade. In addition, security exchange market information is received from buyers, specifying bide prices and quantities, and from sellers, specifying asking prices and quantities. The security exchange trading and market information is processed simultaneously and displayed as a continuously updated real-time chart depicting the exchange auction process whereby buyers and sellers agree to trade at specified prices, including details of individual transactions. The chart is formed by plotting each trade at the price traded, and for each plot point shows a distinctive icon indication whether the transaction was initiated by a buyer or seller.08-09-2012
20120203682FINANCIAL DATA PROCESSING SYSTEM - To process financial articles of trade and manage risk, data messages originating from a plurality of sources arranged to trade at least one of securities, commodities, options, futures and derivatives are collected. The collected data including information on submitted transactions and completed transactions of financial articles of trade. The collected data is analyzed against established user criteria to identify select portions of the collected data. If a match is detected a risk alert signal will be transmitted.08-09-2012
20120203681SYSTEMS AND METHODS FOR PROVIDING GIFT CERTIFICATES OF STOCK - A system and method for gift certificates of securities, other financial instruments, commodities, or other assets are disclosed. In the case of stock, a purchaser enters gift certificate parameters including company name and denomination, as well as payment information. These parameters, together with the market price of the stock, determine the number of shares (which may be a non-integer number) that are being gifted. A provider generates an identifier, part or all of which may be incorporated into a physical or electronic gift certificate for delivery to a recipient who may claim the stock. A database maintains records of the gift certificates that have been purchased and claimed.08-09-2012
20090006240System and Method of a Trading Room - A system of a trading room over a network and method thereof is described. The present invention solves problems of limited ability to demonstrate trading skills. A trading room system includes a user and trading room. A user may demonstrate trading and simultaneously share information with other users. It is an object of the present invention to provide simultaneous presentation of trading actions and information shared among users. An embodiment of the present invention allows different types of a user so as to allow a beginner user to learn from an experienced user.01-01-2009
20080208734Automated Trading Exchange System Having Integrated Quote Risk Monitoring And Integrated Quote Modification Services - An automated trading exchange having integrated quote risk monitoring and quote modification services. An apparatus is implemented using at least one computer, having memory, and a processor. The computer is configured to receive orders and quotes, wherein specified ones of the quotes are contained in a quote group, and have associated trading parameters such as a risk threshold. Not all received quotes are required to have trading parameters as described herein. Preferably, the quote group contains all the quotes, or a subset of quotes, belonging to an individual market-maker for a given class of options contracts, or possibly the quotes of two or more market-makers that have identified themselves as belonging to a group for the purposes of risk monitoring and quote modification. The computer typically generates a trade by matching the received orders and quotes to previously received orders and quotes, and otherwise stores each of the received orders and quotes if a trade is not generated. The computer then determines whether a quote within the quote group has been filled as a result of the generated trade, and if so, determines a risk level and an aggregate risk level associated with said trade. The computer then compares the aggregate risk level with the market-maker's risk threshold, and if the threshold is exceeded, automatically modifies at least one of the remaining quotes in the quote group. The computer may also automatically regenerate quotes that have been filled.08-28-2008
20080255982METHOD AND APPARATUS FOR REBROKERING ORDERS IN A TRADING SYSTEM - Systems and methods are described herein for supporting the trading of bonds in a computerized system using broker dealers as intermediaries. Broker dealers receive orders relating to particular transactions and have the option to accept the order by submitting a matching counter order, or to rebroker the order with the same or modified terms to a number of other investors or additional broker dealers. The additional broker dealers have similar options, thus providing a system wherein orders can be quickly proliferated to a large number of parties. This order proliferation can be fully or partially automated through the use of predefined rules stored in a database which dictate for each broker dealer whether, to whom and under what terms to rebroker orders. When an order is received, the system processes all such rules to output a set of orders which are then communicated to the corresponding parties.10-16-2008
20110010288ANONYMOUS TRADING SYSTEM - An anonymous computerised trading system matches orders by conducting auctions at specified times. As well as entering orders, participants assign credit limits for the duration of the auction, thus minimizing the time for which credit is allocated to the system.01-13-2011
20110010286PRODUCTS AND PROCESSES FOR DIFFERENTIATING TRADING ORDERS - In various embodiments, a data signal differentiates between real and test trading orders and a computer system processes the orders based on differing values.01-13-2011
20110010285PRODUCTS AND PROCESSES FOR DIFFERENTIATING TRADING ORDERS - In various embodiments, a data signal differentiates between real and test trading orders and a computer system processes the orders based on differing values.01-13-2011
20100280939FINANCIAL DATA PROCESSING SYSTEM - A method of processing financial articles of trade is provided. The method includes collecting real time data from a plurality of liquidity destinations in trading at least one of securities, commodities, options, futures and derivatives, the real time data including information on submitted transactions of financial articles of trade. The real time data collected from the plurality of liquidity destinations is aggregated. The real time data is streamed in a standardized form. User criteria are established to identify relevant portions of the streamed real time data. The streamed real time data is analyzed according to the user criteria. The analyzed real time data is consolidated into a computer data base.11-04-2010
20110055070SYSTEM AND METHOD FOR SPECTRUM MANAGMENT - Transferring spectrum use rights may include ascertaining information regarding available spectrum for use in wireless communications. A request for spectrum use from a spectrum user system may be matched with available spectrum. A spectrum certificate may be issued to the spectrum user system, where the spectrum certificate contains at least one spectrum-related variable under which the spectrum user system is to engage in wireless communications.03-03-2011
20110055068SYSTEM AND METHOD FOR MANAGING INITIAL OR VARIATION MARGIN VIA CUSTODY - In various embodiments, a computerized system and method manages custody and mitigates counterparty credit risk exposure associated with a trade of a financial instrument. A custodian computer system is established that receives an initial margin payment from a pledgor and electronically posts the initial margin payment in a custody account record maintained in the database. A control agreement is established between the pledgor and a secured party with agreement details stored in the database. The dual-custody control agreement gives control of the custody account to the pledgor if the secured party defaults on trade obligations, and gives control of the custody account to the secured party if the pledgor defaults on trade obligations. During the life of the trade, the custodian may invest a current margin deposit in the custody account directly through the network into one or more investment vehicles to achieve a greater return.03-03-2011
20110055067UTILIZING A TRIGGER ORDER WITH MULTIPLE COUNTERPARTIES IN IMPLIED MARKET TRADING - An electronic trading system utilizes a Match Engine that receives orders, stores them internally, calculates tradeable combinations and advertises the availability of real and implied orders in the form of market data. Calculating tradeable combinations or cycles for certain strategies becomes complex. Strategies that utilize legs having different volume ratios may form tradeable combinations that will traverse a trigger order more than one time.03-03-2011
20110016040SYSTEM AND METHOD FOR IMPROVED DISTRIBUTION OF MARKET INFORMATION - A data distribution system and method are described herein to improve the distribution of market information to subscribing client devices. Market information updates are provided to subscribing devices over a communication link every time a change in the market occurs. If a bandwidth limitation is reached on the communication link, the preferred embodiments switch to a second mode of transmission such that the market information updates are provided only at predetermined intervals. The preferred embodiment monitors the bandwidth consumption to determine what mode of transmission to apply, and in response, it can dynamically change between modes of transmission. By dynamically adjusting the mode of transmission to comport with the current network bandwidth, the preferred embodiments may provide a network friendly, data intensive, and fast response market information feed.01-20-2011
20110258109Out of Band Credit Control - Systems and method for mediating risks associated with orders in an electronic trading system are provided. A front end component includes a plurality of trading engines that receive orders from traders. A back-end component includes a match system. The system includes a credit control module, which may be located at the back-end (e.g., clearinghouse), front end, a combination thereof, or other location that communicates with the plurality of trading engines. The credit control may monitor aggregate risk parameters for the trading engines and requests credits from trading engines.10-20-2011
20110258105Regulating Order Entry in an Electronic Trading Environment to Maintain an Actual Cost for a Trading Strategy - A system and method for regulating order entry based on an acceptable slop range for a trading strategy are described. According to one example embodiment, a trader may define an acceptable slop range for a trading strategy as a percentage. The trader may also define a variable to associate with the trading strategy. Using a spread trading algorithm, a spread price axis is generated and the trader may place an order for the trading strategy at a desired price, comprising placing an order in one leg market dependent on the market conditions of another leg market. Using the acceptable slop range, the system keep the net cost to the trader within the acceptable slop range, by regulating orders in the leg markets. Defining an acceptable slop range as a percentage allows the trader to monitor and regulate their profits and loss, regardless of the type of spread trading algorithm used or the placement of an order on the spread price axis.10-20-2011
20110258104SYSTEM AND METHOD FOR PRICE-BASED ANNOTATIONS IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method for generating and displaying annotations in relation to one or more prices corresponding to trader-related or market related events are described. In one embodiment, a trader may enter an annotation to be displayed in relation to one or more price levels. Alternatively, a trader may configure a dynamic annotation to be dynamically displayed in relation to some price level(s) upon detecting a predetermined event related to one or more tradeable objects. Also, a trader may configure one or more alarms to be displayed or played in combination with the annotations.10-20-2011
20100332378SYSTEM AND METHOD FOR SELECTIVELY DISPLAYING MARKET INFORMATION RELATED TO A PLURALITY OF TRADEABLE OBJECTS - A graphical interface and method are provided for selectively displaying market information corresponding to a plurality of tradeable objects. According to one example method, a scanning feature is provided in relation to a number of tradeable object indicators. Upon detecting a predefined movement of a user input device in relation to the plurality of indicators, a graphical interface dynamically displays market information corresponding to the tradeable objects as a predefined movement of the user input device is detected in relation to the tradeable object indicators.12-30-2010
20110040668AUTOMATED SPREAD TRADING SYSTEM - An automated spread trading terminal receives from a user a selection of a spread trade indicative of a set of trading contracts and transmits to an electronic trading exchange a first set of messages including an order message relating to the user selection such that an initial set of more working orders are rendered operative. The terminal receives from the electronic trading exchange a first fill confirmation message confirming at least partial completion of a first working order, and in response transmits to the electronic trading exchanges both second and third sets of messages such that a completing set of working orders are rendered operative and additional working orders corresponding to the trading contracts are rendered operative, the third set of messages being transmitted before the set of working orders is completed.02-17-2011
20110087584DISTRIBUTED TRADING BUS ARCHITECTURE - A distributed trading system for handling a plurality of order requests, each order request comprising parameters under which a participant will buy and/or sell a futures contract. A validator component is coupled to a messaging bus and has a first interface for receiving order request and an interface generating a validated order message on the messaging bus related to validated orders, wherein the validator implements processes for validating the order requests. A risk allocation value (RAV) component is coupled to the messaging bus and has an interface for receiving validated order messages from the validator, wherein the RAV component implements processes for evaluating risk associated with an order should that order be completed. A match engine is coupled to the messaging bus and has an interface for receiving validated order messages from the RAV component, wherein the match engine implements processes for matching orders based on the order-specified criteria. A persist component is coupled to the messaging bus and has an interface for receiving messages related to orders and trades, wherein the persist component implements processes for persistently storing information related to orders and trades.04-14-2011
20100293088System and Method for Management and Analysis of Electronic Trade Orders - A system and methods are provided for using order descriptor identifiers in relation to orders being used in trading strategies. According to one example method, when a hedge order is submitted upon detecting a fill of another order, the hedge order includes one or more order descriptor identifiers conveying a purpose of the hedge order to a user. The order descriptor identifiers can be used to search for desired orders and perform more effective order management and post trade analysis.11-18-2010
20100293087System and Method of Utilizing a Distributed Order Book in an Electronic Trade Match Engine - Methods and systems are providing for minimizing the effects of transmission delays when providing orders for financial instruments. A plurality of order books and match engines may be maintained at geographically dispersed locations. The orders may be synchronized to provide the appearance of a single order book to traders and other users. The plurality of order books and match engines allow traders and other users to transmit orders to the match engine associated with the shortest transmission delay and to access orders pending at other match engines.11-18-2010
20100293085ANONYMOUS BLOCK TRADE MATCHING SYSTEM - Disclosed is an anonymous block trade matching system which allows users that wish to cross large blocks of stock to submit orders, or indications of interest, with the option of utilizing market peg benchmarks or future price cross benchmarks. Orders submitted may be subject to minimum thresholds, including a threshold requiring that the order represent ‘X’ % of average daily volume. After submission of a firm order in the system, an alert is generated to provide the order data to other users with potential to cross the order. Visibility of order data by other users may be restricted based upon a data interaction group to which the ordering user or the other user belongs. The system may provide users viewing order data with a capability of negotiating with the submitting user via a restricted two-way messaging interface. Flat rate and rebate/fee cost models may be utilized as a means for charging a user for access to the system.11-18-2010
20100293084System and method for creating and supplying particular data constructs, and methods for using such data constructs in evaluating whether to buy or sell a traded security - A system and method for transforming raw trading data for a traded security so as to create new financial data constructs, which constructs can further be used in traditional methods and using other methods disclosed herein to better evaluate whether to buy or sell a traded security. Various trading methods, using the new data constructs, are further disclosed. New financial data constructs, including particularly Real Buying Pressure (RBP) and Real Selling Pressure (RSP), are further disclosed.11-18-2010
20110119172Methods and Systems for Market Clearance - In a marketplace, offers are processed that are intended to be associated with other offers in a pool. The offers specify conditions for acceptance. Improvable offers are received that are capable of being associated with offers having more favorable specifications than initial offers associated with the improvable offers. Nonimprovable offers that have more favorable specifications than initial offers associated with improvable offers are identified. The identified nonimprovable offers are associated with corresponding improvable offers. Straddles, which comprise a set of offers and a limit on the associations, may span multiple pools. Information about the marketplace may be obtained from data generated by the operation of the marketplace.05-19-2011
20110119170SYSTEM AND METHOD FOR PERFORMING AN OPENING AUCTION OF A DERIVATIVE - A computer system performs an opening auction of a derivative such as a financial futures. The computer system comprises an order maintenance module and an optimizing module. The order maintenance module maintains a plurality of order books for said derivative. The plurality of order books comprises a first set of order books and a second set of order books. Each order book of the first set of order books comprises bid and ask orders for a specific tradable series of the derivative. Each order book of the second set of order books comprises bid and ask orders for a specific combination of two tradable series of the derivative. Each bid and ask order is associated with an integer volume of tradable contracts of the derivative. The optimizing module maximizes a total volume of executed contracts using integer optimization to determine opening prices for the tradable series of the derivative.05-19-2011
20120150718Method and System for Displaying a Cursor on a Trading Screen - A method, system, and computer program products are provided for updating the location of a cursor in a display window on a trading screen when certain events occurs. In a preferred embodiment, as market conditions change, the market information may be rearranged on a screen. To reduce the chances of missing a market opportunity by sending orders or managing them, the cursor moves in association with the market information such that the cursor appears fixed to the market information until a user moves the pointer device.06-14-2012
20120150715Cross Margining of Tri-Party Repo Transactions - A computer implemented method for determining a margin requirement for a market participant includes maintaining, by a processor associated with an exchange, an exchange account reflecting an exchange position resulting from a trade executed on the exchange for a product available via the exchange, the exchange account being maintained separately from a custodian bank account associated with a custodian bank, the custodian bank account reflecting a repo position resulting from a repo transaction facilitated by the custodian bank between the market participant and a counterparty to the repo transaction. The method further includes receiving data reflective of the repo position via a communication interface between the exchange account and the custodian bank account, and determining the margin requirement for the market participant based on the received data and the exchange position.06-14-2012
20120150712Model-Based Selection of Trade Execution Strategies - Effective selection of trade execution strategies using a multi-dimensional model is disclosed. A relationship exists between order difficulty and execution strategy. Execution strategy depends on order difficulty, and order difficulty has many dimensions. The multi-dimensional model classifies trade orders according to the dimensions, and then maps these classified trade orders into suitable execution strategies. For each trade order, one or more appropriate strategies are automatically selected and presented to the trader to assist the trader in making an informed and timely decision.06-14-2012
20110125628METHOD AND SYSTEM FOR AUTOMATED AUCTION AND TENDER OF COMPLEX MULTI-VARIABLE COMMODITIES - A system and method for the auction and tender of complex multi-variable commodities, which are defined as commodities having a plurality of characteristics with each characteristic's value contributing to the determination of the commodity price. The system and method are implemented using an exception handling process whereby a tender participant requests exceptions to the terms and conditions of the original tender. The original tender serves as the baseline tender all participants bid on. Exceptions are changes that are priced in addition to the baseline bid. The suggested auction and tender winners are determined based on their baseline bids. The winner can execute accepted exceptions for an additional fee.05-26-2011
20110125631System and Method for Improved Distribution of Market Information - A data distribution system and method are described herein to improve the distribution of market information to subscribing client devices. Market information updates are provided to subscribing devices over a communication link every time a change in the market occurs. If a bandwidth limitation is reached on the communication link, the preferred embodiments switch to a second mode of transmission such that the market information updates are provided only at predetermined intervals. The preferred embodiment monitors the bandwidth consumption to determine what mode of transmission to apply, and in response, it can dynamically change between modes of transmission. By dynamically adjusting the mode of transmission to comport with the current network bandwidth, the preferred embodiments may provide a network friendly, data intensive, and fast response market information feed.05-26-2011
20110125630Method and System for Displaying a Cursor on a Trading Screen - A method, system, and computer program products are provided for updating the location of a cursor in a display window on a trading screen when certain events occurs. In a preferred embodiment, as market conditions change, the market information may be rearranged on a screen. To reduce the chances of missing a market opportunity by sending orders or managing them, the cursor moves in association with the market information such that the cursor appears fixed to the market information until a user moves the pointer device.05-26-2011
20110125629METHOD AND APPARATUS FOR OFFERING, PRICING, AND SELLING SECURITIES OVER A NETWORK - The present invention relates to a system and method of offering, automatically pricing, preparing for sale, selling, and managing securities, such as municipal bonds, over a network, such as the Internet. The present invention also relates to a system and method for an on-line, one-stop and one-source platform for municipal borrowing, production of associated bond legal documents and offering materials, and satisfaction of continuing disclosure requirements.05-26-2011
20110125626SYSTEM AND METHOD FOR CREATING AND TRADING A DIGITAL DERIVATIVE INVESTMENT INSTRUMENT - A method and system for creating and trading an investment instrument based on an initial public offering of an entity is disclosed that allows investors to take risk positions relative to the occurrence or non-occurrence of a contingent binary event. The contingent binary event will have one of two possible outcomes. In a digital derivative contract, a long investor agrees to pay a short investor a contract amount in return for the short investor agreeing to pay the long investor one of two different settlement amounts depending on the outcome as the contingent binary event. Typically, one settlement amount will be zero and the other will be an amount greater than the digital derivative contract price.05-26-2011
20110125625Method and System for Multi-Enterprise Optimization Using Flexible Trade Contracts - A method of multi-enterprise optimization at a buyer computer includes accessing a forecasted demand for at least one item and generating one or more proposed flexible trade contracts using the forecasted demand for the item. The proposed flexible trade contract is communicated to a seller computer and subsequently executed after acceptance of the proposed flexible trade contract at the seller computer to create a flexible trade contract. Each proposed flexible trade contract may be a forward contract, an option contract, or a flexible forward contract.05-26-2011
20110137784Medical Options Financial Product - One embodiment of a financial product comprising an expiring contract that guarantees the right to receive a cash settlement 06-09-2011
20110137786MULTICOMPUTER DISTRIBUTED PROCESSING TECHNIQUES TO PREVENT INFORMATION LEAKAGE - A trading platform and trading method that may allow access to additional pools of liquidity is described. Other embodiments are also described.06-09-2011
20110137785MULTICOMPUTER DISTRIBUTED PROCESSING OF TRADING INFORMATION - A trading platform and trading method that may allow access to additional pools of liquidity is described. Other embodiments are also described.06-09-2011
20110082785Content delivery network service provider (CDNSP)-managed content delivery network (CDN) for network service provider (NSP) - A CDN service provider shares its CDN infrastructure with a network to enable a network service provider (NSP) to offer a private-labeled network content delivery network (NCDN or “private CDN”) to participating content providers. The CDNSP preferably provides the hardware, software and services required to build, deploy, operate and manage the CDN for the NCDN customer. Thus, the NCDN customer has access to and can make available to participating content providers one or more of the content delivery services (e.g., HTTP delivery, streaming media delivery, application delivery, and the like) available from the global CDN without having to provide the large capital investment, R&D expense and labor necessary to successfully deploy and operate the network itself. Rather, the global CDN service provider simply operates the private CDN for the network as a managed service.04-07-2011
20100262532Predicting a Future Price Range for a Desired Volume - The present invention provides methods and apparatus, including computer program products, to predict a future price range for a desired volume of a traded item. This includes determining a price range based on a set of historical transactions having a comparison volume corresponding to the desired volume of the traded item. It may also include selecting transactions from historical transaction data to generate the set of historical transactions. It may also include selecting historical transactions such that the set of historical transactions has a total volume substantially equal to the comparison volume. It may also include selecting historical transactions such that the set of historical transactions has a total volume greater than the comparison volume and selectively removing one or more historical transactions from the set of historical transactions until the set of historical transactions has a total volume substantially equal to the comparison volume.10-14-2010
20100262533SYSTEM AND METHOD FOR FORMING A FINANCIAL INSTRUMENT INDEXED TO ENTERTAINMENT REVENUE - A method for forming a securities bundle indexed to entertainment revenue includes determining a first funding amount for a first entertainment event. A second funding amount is determined for a second entertainment event. Next, a dividend schedule is determined for the first and second entertainment events. A securities bundle is formed at least partially based on the funding amounts and the dividend schedule, with the securities bundle comprising a first security and a second security. The first security is associated with the first entertainment event and the second security is associated with the second entertainment event.10-14-2010
20100262531 Market Indicator Process and Method - A market indicator process, residing on a server, predicts an opening index price of a security index including at least two discrete securities. A trade monitoring process monitors at least a portion of the trading of the discrete securities that occur outside of a regular trading session. A closing price variation calculation process, responsive to the trade monitoring process, calculates the predicated opening index price of the security index for the beginning of the next regular trading session with respect to a closing index price of the security index at the end of the previous regular trading session. The index prices are indicative of the cumulative value of the discrete securities.10-14-2010
20100262530INTELLECTUAL PROPERTY TRADING EXCHANGE - A computerized intellectual property trading exchange is disclosed for facilitating the trading of license contracts relating to intellectual property rights or pools of intellectual property rights. The exchange includes at least one intellectual property license contract relating to intellectual property rights or pools of intellectual property rights and a computer-accessible forum configured to allow a plurality of participants to trade the license contract. The plurality of participants includes at least one seller, which may be the owner, having the license contract and desiring to trade the license contract. The plurality of participants also includes at least one buyer desiring to obtain the license contract. The buyer may be an investor, speculator, market maker, or arbitrageur, who purchases the license contract to achieve appreciation. The buyer also may be a licensee, who purchases the license contract to practice the intellectual property rights.10-14-2010
20100262529Arbitrage of Tracking Securities - A financial product is based on a first fund that is traded on a trading marketplace in a first country. The financial product is registered in the first country. The first fund has the characteristics of being based on an index of securities that are traded in a second, different country. The first fund is arbitragable with a second fund that is based on the index and which is registered in a second different country. The first fund has a creation unit basis that is substantially the same basis as a creation unit basis for the second fund. The calculation of the net asset value of the first fund occurs at essentially or exactly the same time that second country fund has its NAV calculated.10-14-2010
20100185542SYSTEMS AND METHODS FOR PROVIDING ENHANCED VOLUME-WEIGHTED AVERGAE PRICE TRADING - Systems and methods for providing trading using an eVWAP price in an illiquid market are provided. In an illiquid market there may be little or no actual trades. During a trading period, the eVWAP price is therefore determined from not only trades, but also unmatched bids and offers. The eVWAP price is determined when new information becomes available or at a specified time interval. The final eVWAP price is determined when the sampling period ends. Once the final eVWAP price is determined, the value of the final eVWAP price is published for use as a price to settle a contract.07-22-2010
20110087583THROTTLING SYSTEM AND METHOD FOR ENABLING AUTOMATED LIQUIDITY MANAGEMENT IN FINANCIAL MARKETS - A system and method are provided to enable automated liquidity management in a financial assets market, the system including a financial data warehouse layer; a pricing engine layer; an execution layer; and a market making layer, wherein the system is adapted to automatically throttle transactions by a market maker when a selected liquidity level has been reached.04-14-2011
20100332372SYSTEMS AND METHODS FOR PROVIDING A TRADING INTERFACE - Systems and methods for configurable trading interfaces that allow a trader to quickly and easily submit trading commands to a trading system are provided. Using these systems and methods, a trader can using various trading interfaces to initiate trading commands, configure various display features and default command settings, and control a level of command entry verification that is provided to protect against inadvertent entry of incorrect trading commands.12-30-2010
20120310809Method for trading and clearing variance swaps - In accordance with the principles of the present invention, a method for trading and clearing a volatility or variance-defined, standardized derivative financial instrument is provided. A financial instrument in either volatility or variance terms is negotiated. The realized variance to date on an underlying of that derivative financial instrument is determined. After the derivative financial instrument is negotiated and the realized variance to date is determined, at least one centrally-cleared financial instrument with a price derived from the volatility or variance terms and the realized variance to date on the underlying of that derivative financial instrument is delivered. Thus, a financial instrument negotiated in either volatility or variance terms is substituted with an equivalent position in a standardized, centrally-cleared financial instrument.12-06-2012
20100179899TEST TRADING - Disclosed are systems and methods for placing and processing test orders and real orders.07-15-2010
20100179902SYSTEMS AND METHODS FOR PERFORMING TWO-WAY ONE-TO-MANY AND MANY-TO-MANY AUCTIONS FOR FINANCIAL INSTRUMENTS - A switch engine module receive interest rate risk portfolios from a plurality of traders, and for each prospective trader, provides available switches based on positions in other counterparty portfolios that offset the viewing traders' positions. The offsetting positions are encoded with credit preference information in order to identify eligible trades based on both counterparties credit preferences. In particular, an embodiment provides for a switch auction whereby users can use an auction process to trade for forward rate agreement switches with other counterparties, for example, in a two-way or many-to-many auction. In the switch auction, the price is predetermined by the system prior to the auction so that parties can opt out of the transaction if desired. The credit preferences of the participating traders are taken in consideration in making matches.07-15-2010
20100179900TEST TRADING - Disclosed are systems and methods for placing and processing test orders and real orders.07-15-2010
20110258106SINGLE-PERIOD AUCTIONS NETWORK DECENTRALIZED TRADING SYSTEM AND METHOD - A method and system serve for network dealing for conducting single-period auctions where there is one seller and at least one buyer, but typically multiple buyers. The method and system allow for posting of at least one or multiple items offered for sale on a network by a computer at the seller interconnected to other computers on the network. Bids are submitted by buyers for the items offered for sale with the seller requiring predetermined information about the buyer submitting bids before determining a selling price. The seller applies a selected set of criteria to strike out bids the seller does not wish to consider and applies a seller determined criteria to determine the price at which the seller is willing to sell the item(s).10-20-2011
20110258103TOTAL FAIR VALUE SWAP - A synthetic instrument known as a “Total Fair Value Swap” is disclosed. According to one embodiment, the Total Fair Value Swap may comprise an agreement between two counterparties, a “Fixed Rate Payer” and a “Floating Rate Payer”. According to the agreement, the Fixed Rate Payer makes a stream of payments to the Floating Rate Payer based on a fixed rate, and the Floating Rate Payer makes a second stream of payments to the Fixed Rate Payer based on a floating rate, wherein a first portion of the floating rate is based on a reference interest rate, and wherein a second portion of the floating rate is based on a credit spread associated with the Floating Rate Payer. The reference interest rate may be, for example, London Inter-Bank Offer Rate (LIBOR), prime interest rate, the US dollar swap rate, the U.S. Treasury Bond rate or any other widely traded interest rate that is reset periodically. The credit spread may be observed from the Credit Default Swap (CDS) market.10-20-2011
20110258101METHODS AND SYSTEMS FOR LOSS MITIGATION, ACQUISITION AND DISPOSAL OF REAL-ESTATE ASSETS - In one embodiment, a method of loss mitigation and disposal of real estate related assets. The method comprises receiving and storing at least minimum bid and location information from a lender having an interest in the property that is to be disposed, receiving and storing an offer to purchase at least one property selected from the at least one property that is to be disposed from a prospective purchaser, receiving and storing information regarding a deposit provided to lender if offer to purchase at least one property is accepted by lender, marketing the at least one property that is to be disposed of to prospective purchasers and contacting the present owner of the at least one property that is to be disposed requesting formation regarding whether the present owner desires a loan modification, short sale, payment in exchange for keys of the at least one property that is to be disposed of.10-20-2011
20100174637Dynamic Aggressive/Passive Pegged Trading - A computer-implemented system and method for executing trades of financial securities according to a combination passive/aggressive trading strategy that reliably executes trades of lists of securities or blocks of a single security within a desired time frame while taking advantage of dynamic market movement to realize price improvement for the trade within the desired time frame. A passive trading agent executes trades at advantageous prices by floating portions of the order at the bid or ask to maximize exposure to the inside market and attract market orders. An aggressive agent opportunistically takes liquidity as it arises, setting discretionary prices in accordance with historical trading data of the specified security.07-08-2010
20120310817Methods, Systems and Computer Program Products for Providing Low Risk Portable Alpha Investment Instruments - Provided are methods of providing a portable alpha investment instrument. Some embodiments of such methods include allocating a first portion of a financial asset to a first asset class, allocating a second portion of the financial asset to a second asset class, establishing a swap transaction corresponding to the first portion of the financial asset, the swap transaction configured to define a minimum term corresponding to an asset status change, and transferring the first portion and the second portion of the financial asset responsive to the allocating.12-06-2012
20120310816COMPUTERIZED METHOD FOR GENERATING AND MAINTAINING A LEVERAGED OR REVERSE EXCHANGE TRADED PRODUCT - A computer implemented method for maintaining a leveraged or reverse exchange traded product is provided which includes electronically monitoring, with a computer, a change in value of a product sold on an exchange, Electronic Communication Network (ECN), or Alternative Trading System (ATS); calculating, with a computer, a target number of options in the product required to provide a target return that is one of a multiple of a return of the product, a negative of the return of the product, or a negative multiple of the return of the product, and buying or selling options in the product to obtain the target number of options.12-06-2012
20120310815METHOD AND SYSTEM FOR AUTOMATED TRANSACTION COMPLIANCE PROCESSING - A system for automated transaction compliance processing comprises a list server providing access to one or more lists of securities with trading restrictions and a rules engine which processes compliance requests to determine if, based upon the relationship between the requesting party and the company on behalf the compliance is being performed, the transaction is permissible. Compliance determinations are made using a set of predefined compliance rules. When a request is evaluated, a compliance rule set indicating which rules are to be evaluated at that time is generated in accordance with a party profile indicating the relationship between the party and the company. A message indicating whether the transaction complies with trading restrictions is then returned.12-06-2012
20120310814METHOD AND SYSTEM FOR FACILITATING COMMERCIAL PAPER FUNDING VIA A COMMUNICATION NETWORK - A central computer system facilitates organizations and individuals using a communication network to negotiate commercial paper terms and to offer, sell, and buy commercial paper notes. The fundraiser/issuer uses a user device interface to input information about funding needs and repayment terms of commercial paper he intends to issue. The system, or a user device itself, generates an interface used by a potential or actual buyer that generates, or receives, a funding offer, or counteroffer in response thereto, respectively. The system facilitates generating and transmitting legal documents in the form of commercial paper notes, offerings, and sales via the communication network. The funding facilitator system can manage authentication credentials of the issuer and potential buyers to facilitate determining that either party has bound themselves to an offer, counteroffer, or acceptance. Issuer's and potential buyers' devices can authenticate the funding facilitator to verify the authenticity of a document received therefrom.12-06-2012
20120310813PASS THROUGH LIQUIDITY IN A MULTI-TIERED TRADING SYSTEM AND METHOD - The present invention generally relates to brokerage systems and methods, and more particularly, to a multi-tiered trading system and corresponding methods which allow multiple customers and multiple dealers to transact on a single platform while maintaining the distinction of an inter-dealer system and a dealer-customer relationship.12-06-2012
20120310812Online Automated Software Application for Matching Investors and Traders to Create Risk Controlled Investment Accounts - A method for an Internet-based software application is used to match specific investors to specific traders and traders' systems by running a set of compatibility algorithms. The compatibility algorithms identify similar qualities between investors and traders and compiles a list of high-incidence matches. Such qualities for the investors include investment tendencies and risk-tolerance criteria, and such qualities for the traders include trading tendencies. The software application will allow a specific investor(s) and a specific trader to broker a trade agreement that will accommodate the requirements for both parties. The software application will also allow a specific investor to implement a risk management strategy, which can be done in, but not limited to, four embodiments: the risk-control embodiment, the risk-control-with-pooling embodiment, the risk-transfer embodiment, and the risk-transfer-with-pooling embodiment.12-06-2012
20120310811SYSTEM AND METHOD FOR REDUCING CURVE RISK - A bond matching system receives positions from dealers identifying bonds to be matched and including the price value per basis point (PVPB) of the bonds and an indication of a percentage deviation from PVBP that the dealer is willing to accept in a matching bond. A matching engine performs a matching optimization during a run to match as many positions as possible and then calculates a series of hedge trades for each dealer to reduce the curve risk generated by matching with bonds having different maturity dates. The hedge trades are executed in a liquid external market such as a futures exchange.12-06-2012
20120310810METHOD AND SYSTEM OF ENTERING POSITIONS REGARDING SECURITIES - Entering positions regarding securities. At least some of the illustrative embodiments include: interacting by a trader with a physical device, the interacting sets purchasing power for entering positions regarding securities; and without further input by the trader selecting a plurality of securities from a preselected list of securities, the selecting based on one more indications for each security, and the selecting by a computer system; and entering a plurality of positions regarding the plurality of securities, the number and value of the plurality of positions limited by the purchasing power, and the entering initiated by the computer system.12-06-2012
20100161476System and Method for Money Management Using a Plurality of Profit Levels in an Electronic Trading Environment - A system and method for money management in an electronic trading environment are presented. According to one embodiment, a money management application intercepts an order before the order is sent to an exchange, and determines a plurality of P/L levels, based on which the money management application then selects a set of money management parameters to be used to control or modify order parameters before the order is sent to the exchange. The plurality of profit levels may include a net profit level determined based on a trader's net position and a current market level, a realized profit level determined based on trader's sells and buys associated with the tradeable object, or an open profit level determined based on the realized and net profit levels. The set of money management parameters may include a maximum order quantity and a maximum net position so that, for example, if the order quantity associated with the order is higher than the maximum order quantity associated with the applicable set of money management parameters, the order quantity may be modified to the maximum order quantity.06-24-2010
20100121760AUCTION FOR FINANCIALLY SETTLED CONTRACTS - Various embodiments show a system for conducting an auction for a plurality of financially settled contracts: The system may comprise at least one processor. The at least one processor may be programmed to receive a plurality of first participant bids from a first participant and a plurality of second participant bids from a second participant. The at least one processor may also be programmed to match a batch of bids to create a plurality of awarded bids. The contracts may include, for example, an oil contract, a coal contract, a natural gas contract, an electricity contract, a weather contract, a weather-related events contract, a commodities contract, location specific service contracts (e.g., passenger contract and/or freight contracts).05-13-2010
20100121757Regulating Order Entry in an Electronic Trading Environment to Maintain an Actual Cost for a Trading Strategy - A system and method for regulating order entry based on an acceptable slop range for a trading strategy are described. According to one example embodiment, a trader may define an acceptable slop range for a trading strategy as a percentage. The trader may also define a variable to associate with the trading strategy. Using a spread trading algorithm, a spread price axis is generated and the trader may place an order for the trading strategy at a desired price, comprising placing an order in one leg market dependent on the market conditions of another leg market. Using the acceptable slop range, the system keep the net cost to the trader within the acceptable slop range, by regulating orders in the leg markets. Defining an acceptable slop range as a percentage allows the trader to monitor and regulate their profits and loss, regardless of the type of spread trading algorithm used or the placement of an order on the spread price axis.05-13-2010
20100121759Confidential Block Trading System And Method - Methods and systems for facilitating trading of securities, preferred methods comprising receiving a first buy or sell order from a first user; calculating a block price range; determining that said first order is reasonably priced; transmitting to a second user a notification that a reasonably priced order is present, but without notifying said second user of the side; receiving a second order from said second user, wherein said second order is a contra to said first order and nearly matches but does not cross said first order; transmitting a contra order notification to said second user after said second order is received, said contra order notification indicating that a nearly matching contra order is active; receiving a third order from said second user, said third order being a contra to said first order and crossing said first order; and executing a trade comprising said first order and said third order.05-13-2010
20100121758INDEXED PAYMENT STREAM SYSTEM AND METHOD - Provided is a computer-implemented method for providing a common index securities fund that provides liquidity in a plurality of small business borrowers in a defined class. The method comprises providing a pool of cash from a lender to the fund; generating loans from the fund to borrowers; depositing the loans in interest-bearing accounts; providing interest from the interest bearing accounts to the lender and the borrowers; and, upon withdrawal of the loans from the interest-bearing accounts, repaying the loans to the lender and commencing a payment stream by each borrower to the fund, including adjusting one or more payments in the payment stream using an index having a value relationship to the class.05-13-2010
20100121754SYSTEM AND METHOD FOR EXECUTING STRATEGY SECURITY TRADING - A computer implemented method and system for executing block trades for a security includes steps or devices for receiving a block trade request, at a computer system. The block request includes data representing a quantity of shares of the security to be traded over a period of time. The computer system divides the period of time into a plurality of time bins. A computer system, for the received block trade request, computes, for each time bin, a number of shares to be traded as a trading target based on at least historical trading volumes using predictive analysis. For a first time bin, a computer system generates executable trade orders for a number of shares to be traded that is substantially equal to the trading target for the first time bin. A computer system executes at least a portion of the executable trade orders in a trade forum within each time bin in the future.05-13-2010
20100121756METHOD AND SYSTEM FOR TRACKING DERIVATIVES POSITIONS AND MONITORING CREDIT LIMITS - A derivatives position tracking system that consists of a centralized trading engine with a trade history database capable of communication with a plurality of counterpart computers via a network to enable the execution of a derivatives transaction. The trading engine and counterpart computers enable the counterpart computers to initiate, unwind and assign requests. Upon execution of a tear-up or assignment, a record of such transaction is stored in the trade history database. Whether or not the tear-up or assignment is executed with the original counterpart, the original counterpart receives a notification of the tear-up/assignment and a new position with the counterpart is reflected in the position-tracking database. Additionally, a credit monitoring module can be used in connection with the derivatives position tracking system to enable the trading engine to alert counterparts when a derivatives transaction exceeds a pre-defined credit limit.05-13-2010
20100121755Commodity Futures Index and Methods and Systems of Trading in Futures Contracts That Minimize Turnover and Transactions Costs - This invention relates to methods and systems for reducing transaction costs and minimizes turnover in the trading of futures contracts. The invention further describes an algorithm whose output is a unique method of investing in futures contracts that reduces the rate of turnover, and thus the cost of trading, of certain common trading strategies. The primary application of this method is to a class of strategies referred to as indexing strategies that incorporate a dynamic asset allocation approach using futures contracts.05-13-2010
20100121752Web-Based Bid Analysis, Award, and Contract Management System - A Web-based system for use in analyzing and awarding bids for pharmaceuticals, hospital and other medical or surgical center supplies and for managing the underlying contracts. The system features a bid management utility, a drug catalog and sales data utility, and a contract management utility. Each utility is accessible by a user based upon user privileges. The drug catalog allows user lookup of contracted drugs. The bid management utility allow a GPO to create a RFP. When the RFP is complete, it is sent via the system to participating vendors for bidding. Once a contract is established, the system database allows modification of certain contract details.05-13-2010
20100030680MARKETPLACE FOR TRADING INTANGIBLE ASSET DERIVATIVES AND A METHOD FOR TRADING INTANGIBLE ASSET DERIVATIVES - A marketplace for trading derivative financial contracts includes a forum that publishes a financial contract and allows the financial contract to be traded by one or more market participants. The financial contracts are based on one or more underlying intangible assets of one or more entities. The price of the contract is derived from a measure of value of the one or more underlying assets of the particular financial contract. The forum may include an exchange for trading financial contracts and may also host trading of over-the-counter financial contracts.02-04-2010
20110060676System and method for structuring, trading, and processing differential funds - A system and method is provided for structuring, and recording and processing information and data flow necessary to effect trades; creations; and redemptions of shares of, a differential fund. A differential fund comprises an underlying index or basket of securities, commodities, or other assets, with share classes equivalent to the number of and linked to components or sectors of the underlying. The system and method allocates dividends, distributions, or capital appreciation owing each class by weighting a predetermined financial indicator of each component to each other and then applying distributions or appreciation owed to the whole fund to individual classes based on the indicator weighting. Shares trade freely at a market premium over the net-asset value or market price of the fund. Because each share is backed by the entire underlying, the net-asset value or market price of the underlying establishes a natural lower-bound in the price of a share.03-10-2011
20110078068SYSTEM AND METHOD FOR TIMED ORDER ENTRY AND MODIFICATION - A system and method for defining and processing timed orders are defined. According to one embodiment, a trader may define a timed order by defining an intra-day time trigger or a time period when the timed order should be automatically modified, such as deleted or cancelled/replaced with a new order. In one embodiment, the intra-day time trigger or time period may be dynamically changed to a later time, for example, upon receiving a predetermined user input. Also, the time trigger and time period may be configured to dynamically vary based on any user configurable formula. Also, the timed order may be associated with one or more actions to be taken once the order is deleted, such as sending a new order, for example.03-31-2011
20110078070BUNDLED FINANCIAL INSTRUMENTS - Networks, systems and methods that match orders for bundled financial instruments are disclosed. In one example, the bundled financial instrument includes packaged underlying financial instruments that together provide an economic equivalent exposure to a long-term investment vehicle. The bundled financial instrument may include any set of contracts considered a linear combination of a plurality of standardized contracts associated with an obligation to exchange an asset at a set price on a future date. An open position for the bundled financial instrument is a function of the prices for each of the standardized contracts of the bundle and remains open from execution of the order to the earlier of a maturity of the bundled financial instrument, a conversion of the bundled financial instrument into constituent parts of the linear combination of a plurality of standardized contracts, or in the case where the bundled instrument is fractional size contract, when multiple bundles are converted to a single position of a corresponding full-sized instrument.03-31-2011
20110078069SYSTEM AND METHOD FOR MANAGING TRADING ORDERS WITH DECAYING RESERVES - A system comprises a memory operable to store a trading order for a particular quantity of a trading product, wherein a first portion of the particular quantity is a displayed quantity and a second portion of the particular quantity is a reserved quantity. The system further comprises a processor communicatively coupled to the memory and operable to disclose the displayed quantity to one or more market centers. The processor is further operable to identify a decay rate associated with the trading order. The processor is further operable to cause the reserved quantity to decay based at least in part on the identified decay rate.03-31-2011
20110112952METHOD AND APPARATUS OF DISPLAYING MARKET DEPTH AND OTHER INFORMATION ON A MOBILE PHONE, HANDHELD DEVICE OR COMPUTER SYSTEM - An exemplary system according to the present disclosure comprises a server system (comprising one or more computing devices) that is in communication with one or more financial exchange systems and one or more data source computer devices (e.g., news sources). Also in communication with the server system are one or more mobile communication devices. The server system comprises a memory and a processor executing software that enables the server system to receive live market data and information from one or more of the financial exchange systems and the data source computer devices; aggregate and filter the data and information; according to one or more pre-set user preferences and/or one or more user-initiated commands; and transmit the aggregated/filtered data and information to one or more mobile communication devices via one or more live data feeds. The mobile communication device displays aggregated/filtered information in a single, interactive GUI.05-12-2011
20110119176Electronic Block Trading System and Method of Operation - 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.05-19-2011
20110178915Trading Order Validation System and Method and High-Performance Trading Data Interface - A post-trade monitor receives feedback in the form of drop copy messages from an exchange server and validates orders placed with the exchange server by a sponsored access trading platform shortly after the orders have been placed. If a recently placed order is found to violate a rule or regulation, the monitor instructs the trading platform to change to a more restrictive trading mode, such as to cease placing all orders or certain types of orders, at least until certain parameters are met. A library provides an interface in a sponsored access trading platform between a client application program that generates proposed orders and an exchange server. The library provides pre-trade validation of the orders and sends only validated orders to the exchange server. A network enables monitors, trading platforms and libraries to share information about customers' trading activities and locally recalculate customer trading limits resulting from these trading activities. A low-latency interface between a customer server, such as a server that employs algorithmic trading methods to generate buy and sell orders for securities, and a brokerage server that validates such securities trading orders is optimized for handling the securities trading orders. The interface supports a trading command set specifically designed for orders from customer trading application programs, and the interface formats received trading commands into compact messages that are sent over a high-speed communication link to the brokerage server. The interface receives order acknowledgement messages and the like from the brokerage server and invokes callback routines in the customer trading application program to report status information.07-21-2011
20100198718FAILOVER SYSTEM AND METHOD - One aspect of the present invention provides a system for failover comprising at least one client selectively connectable to one of at least two interconnected servers via a network connection. In a normal state, one of the servers is designated a primary server when connected to the client and a remainder of the servers are designated as backup servers when not connected to the client. The at least one client is configured to send messages to the primary server. The servers are configured to process the messages using at least one service that is identical in each of the servers. The services are unaware of whether a server respective to the service is operating as the primary server or the backup server. The servers are further configured to maintain a library, or the like, that indicates whether a server is the primary server or a server is the backup server. The services within each server are to make external calls via its respective library. The library in the primary server is configured to complete the external calls and return results of the external calls to the service in the primary server and to forward results of the external calls to the service in the backup server. The library in the secondary server does not make external calls but simply forwards the results of the external calls, as received from the primary server, to the service in the secondary server when requested to do so by the service in the secondary server.08-05-2010
20100217702Electronic System for Coordinating Contracts Relating to Property - A system, method and apparatus using devices connected to an electronic network to enable users to locate other users for the purpose of entering into option contracts for the purchase and sale of goods and other property, and to coordinate secured lending transactions.08-26-2010
20090299892TRADE SUPPORT PROCESS SYSTEM, TRADE SUPPORT PROCESS METHOD, AND RECORDING MEDIUM - Receipt of an order for a support for transportation in a trade or for documentation in a trade is managed. A control unit of a service management server sends an order receipt information registration screen. In a case where a service pattern is selected on the order receipt information registration screen, the control unit retrieves service plans that constitute the service pattern, and outputs the service plans. Then, the control unit acquires order receipt particulars information about the service plans. Then, the control unit registers order receipt management data. On the other hand, in a case where order receipt information is input in the order receipt information registration screen, the control unit retrieves a service plan that matches the order receipt information, and outputs the service plan.12-03-2009
20090299890System and Method for Aggressively Trading a Strategy in an Electronic Trading Environment - System and method for aggressively trading a spread trading strategy in an electronic environment are provided herein. According to the example embodiments, a trader may configure the automated trading tool to trade as aggressively as possible by leaning on a price without an associated quantity. This allows a trader to possibly obtain a more profitable price as well as get filled faster. Traders submit an order for a spread and the automated trading tool calculates the quote order price based on a defined level of aggressiveness, the leaned on price, and the desired spread price. Based on the level of defined aggressiveness and the gap in the market, the automated trading tool may lean on a mildly, moderately, or extremely aggressive price.12-03-2009
20090299894Systems and Methods for Implementing the Structuring, Pricing, Quotation, and Trading of SPOT Synthetics (SPOTS), SPREAD Instruments (SPRINTS), SPRINTS based on SPOTS, Ratio Derivatives (RADS), RADS based on SPOTS, and Options based on these Instruments - An exchange-traded financial instrument having a price that tracks an underlying benchmark, the underlying benchmark being a security or commodity that is itself traded. A contract for the financial instrument between a buyer and seller is not contingent upon the delivery of the underlying benchmark. A net carrying charge (credit or debit), defined as the difference between the investment yield of the underlying benchmark and a cost of financing ownership of the underlying benchmark using the generally accepted industry standard financing rate for that benchmark, is credited or debited, accrued, or built into the price of the derivative for both buyer and seller of the financial instrument, typically nightly. In one embodiment, the underlying benchmark is a U.S. Treasury security, and preferably a specific U.S. Treasury security such as the on the run (OTR) 10 Year Treasury note. Other single contract spread and ratio instruments are also disclosed.12-03-2009
20100030681Pricing Mechanism For Security Valuation - Techniques and systems for determining a valuation for securities that do not have an established valuation mechanism are described herein. Derivative securities based on underlying employee stock options where the maturity of the derivative security is tied to exercise and forfeiture behaviors of individuals owning the stock options are also describe herein.02-04-2010
20090292638Complementary Trading Of Interests - Methods, systems, and computer program products for automatically proposing currency exchange, hedging, and other trades in financial interests. A trader proposing or accepting a trade in a financial interest is presented with terms of or a prompt regarding a proposed complementary trade in a related interest.11-26-2009
20090292635TRADING SYSTEM - An anonymous trading system includes a prime broker facility that allows a third party to trade on behalf of an institution. A deal is executed between the third party and a counter-party and a further deal is then executed between the third party and the party on whose behalf it has traded. The second deal may be for the same amount as the first deal or may be altered to include the third party's fee for conducting the first deal. Clients of the third party have prices available to them for trades made via the third party which are displayed at their trader terminals. The client sees that a better price is available though the third party than by dealing direct and selects to conduct a deal through the third party.11-26-2009
20110191235HYBRID CROSS-MARGINING - A hybrid cross-margining system is disclosed. The disclosed provides for both joint accounts, maintained by multiple exchanges, as well as non-joint accounts, whereby the system recognizes both intra-account offsets within the joint account and inter-exchange offsets between the joint account and accounts maintained by another exchange to minimize the margin requirement of the associated market participant with respect to the positions reflected in these accounts.08-04-2011
20110153485METHOD AND APPARATUS FOR STOCK AND INDEX OPTION PRICE IMPROVEMENT, PARTICIPATION, AND INTERNALIZATION - A method for stock option trading includes receiving an option order at a market, contemporaneously receiving a copy of the option order at an electronic drop (EDrop) system, which is separate and distinct from the market, obtaining a potential cross quantity and a potential cross price based on the option order at the EDrop system, and submitting, through the EDrop system, a contra-order, with respect to the option order, to the market for fulfillment, wherein the contra-order specifies at least one of an underlying security potential cross quantity, and the potential cross price.06-23-2011
20100057604METHOD AND SYSTEM FOR COMPUTER-IMPLEMENTED TRADING OF SECONDARY MARKET DEBT SECURITIES - A computer-implemented method and system for trading of debt securities (bonds), where multiple dealers participate and compete on a single platform (03-04-2010
20100030683METHOD FOR FINANCING AND DISTRIBUTING MEDIA PROJECTS - This invention is a computer-aided method that allows individuals to finance and speculate via advance purchases on the success of films, and various other media projects. To fund their projects, producers transmit or upload a project offering, consisting of future copies of the project with embedded rights to potentially participate in future revenue streams, to a programmed server and the programmed server accepts bids from consumers in the form of reservations to purchase these future copies. The price of the future copies does not change, only the potential revenue split, as applied to all future copies, resulting in a yield auction. The yield auction stays open until consumers and producers arrive at a mutually acceptable revenue split and all available future copies have been reserved. At that time, a group debit occurs, debiting consumers for their future copies and the funds are made available to the producer to make their project. After the project has been completed, the consumer receives a copy of the project they reserved during the yield auction and begins to receive any additional ad and sales revenues per each copy of the project per the terms that were agreed upon during the yield auction process.02-04-2010
20100030682PROCESSING DEVICE FOR NORMALIZING BARS REPRESENTATIVE OF WEIGHTED VARIABLE QUANTITIES - A device (DT) is dedicated to the processing of files of set(s) of data of events each consisting at least of a value taken at a given instant by a quantity that varies in time and of this given instant, as well as possibly of a weighting value, each set constituting a log of events for a given quantity. This device (DT) comprises processing means (MT) responsible for determining on the basis of a log of events of a quantity i) a total sum S of weighting values of the events of this log over part at least of a main period D defined between first and second chosen instants, then ii) the value of a normalization parameter defined by the operation S*(T/D′), where T is a time interval of chosen duration and D′ represents a sum of secondary periods constituting chosen sub-parts of the main period D and is expressed in a unit identical to the time interval T, then iii) a normalized chronological collection between the first and second chosen instants of grouping of events, termed normalized bars, whose weighting value is on each occasion equal to the value of the normalization parameter.02-04-2010
20100030678TRADING SYSTEM AND METHOD HAVING A CONFIGURABLE MARKET DEPTH TOOL WITH DYNAMIC PRICE AXIS - A system and method for the electronic trading of investment vehicles, such as stocks, bonds, options, commodities, stock and futures index contracts, and the like, is disclosed. The system and method provide a graphical user interface having a versatile and efficient market depth tool with a dynamic price axis for executing trades. The tool facilitates the display of and the rapid placement of trade orders within the market. The system provides for user initiated functionality to control, among other things, the manner in which the dynamic price axis moves in response to market conditions.02-04-2010
20100005021Method and system for buying and selling certified emission reduction credits - Distributing units of carbon emission reduction (“CER”) comprises obtaining a right to purchase CERs in the future that are developed by emission reduction projects, dividing the future CERs into a plurality of tranches, committing the future CERs in the tranches to prospective buyers, and distributing CERs received from the projects to the prospective buyers based on a priority of delivery between the tranches. A contingent call option can provide replacement CERs to meet CER obligations to a senior tranche if received CERs are not sufficient to meet the obligations of future CERs allocated to buyers in the senior tranche. CERs are not distributed to buyers of junior tranches if the received CERs are not sufficient to meet the CER obligations to more senior tranches.01-07-2010
20100023445E-commerce transaction facilitation system and method - A method of operating a computer to facilitate a commercial transaction involving a plurality of negotiable trading parameters. The method includes the following steps resulting from the execution of a computer program: 01-28-2010
20100023444System and method for managing and trading auction limit orders in a hybrid auction market - A buy order is received with a limit price that is above a published best offer, and represented in the auction market. If the buy order is not immediately executed, it is quoted at a minimum variation better than a published best bid, and the price of the quoted buy order becomes the published best bid. Alternatively, a sell order is received with a limit price that is below a published best bid, and represented in the auction market. If the sell order is not immediately executed, it is quoted at a minimum variation better than a published best offer, and the price of the quoted sell order becomes the published best offer.01-28-2010
20100023443System and Method for Quick Quote Configuration - A method and system are described for providing a trader with the ability to quickly configure the quoting side of a trading tool, without experiencing the normal delays associated with conventional methods of quoting. In spread trading, an automated spread trading tool may automatically work an order to buy or sell a tradeable object. A user may configure the trading tool to work an order in a certain tradeable object first. The system allows the user to essentially on-the-fly configure the trading tool to work a second order in another tradeable object, and in response to the change, the system can take specific actions such as deleting the order in the first tradeable object and automatically entering the second order in the other tradeable object. This allows the trader to trade quickly and efficiently.01-28-2010
20100023442SYSTEM, METHOD AND MEDIA FOR TRADING OF EVENT-LINKED DERIVATIVE INSTRUMENTS - A derivative financial instrument is created which facilitates the reallocation of a risk caused by the occurrence of an event or condition. For example, a system, method, and media are directed to allocating risks of water shortages. A computer-readable financial instrument is established based on a water availability score that is calculated from one or more types of hydrological factors, a settlement value function, and a settlement date. The financial instrument is configured to transfer, on the settlement date, a cash or physical commodity amount to a buyer or seller of the instrument as determined by the contract specification if the score is zero, or a positive or negative number or within a specified range of positive or negative values.01-28-2010
20100023441PROCESS AND ARCHITECTURE FOR STRUCTURING FACILITIES REVENUE BOND FINANCINGS - A process and architecture may be implemented to structure bond financing or refinancing for facilities construction and/or renovation to improve economic and business terms for involved or interested parties, including for education institutions, healthcare companies and/or energy production entities.01-28-2010
20100023440Interactive Mortgage and Loan Information and Real-Time Trading System - The invention provides a method and system for trading loans in real time. Loan applications, such as home mortgage loan applications, are made available electronically to receive bids from a plurality of potential lenders. A transaction server maintains a database of pending loan applications and their statuses, which is accessible over a communications channel, such as the Internet. Each party to a loan can search and modify the database consistent with their role in a transaction. The invention provides smart computerized administration that ensures personal preferences of the participating parties are enforced, errors and duplication is avoided, and information relating to accumulated data is available to the parties consistent with their roles.01-28-2010
20100017324SYSTEM AND METHOD FOR TRADING FINANCIAL ASSETS - A system and method are disclosed that enables commoditization and trading of accounts receivable. The system preferably enables companies to reduce time for outstanding invoices to be paid by providing a marketplace for cash advanced in payment of invoices. The system and method preferably establishes an account accessible to the system to receive payment from obligors. The system provides at least one of a primary market for auctioning, and a secondary market for trading of accounts receivable.01-21-2010
20100017322Confidential Order Entry for an Equity Offering - Confidential entry of orders to purchase company shares in an equity offering can include an order entry module, order book module, and security module. The order entry module receives orders directly from investors to purchase shares of the company. Each order includes order information such as an identity of the investor that submitted the order, share price, and quantity of company shares to be purchased at the share price. The order book module communicates the order information to members of a management/equity capital markets company team for the equity offering transaction. The security module allows the order entry module to receive the orders directly from the investors, allows the order book module to communicate the order information to the members of the management/company team, and prevents communication of the order information to sales persons associated with the equity offering transaction.01-21-2010
20100017321Adaptive Implied Spread Matching - Systems and methods for determining implied spreads are provided. An example includes receiving a new order for a financial instrument and determining if the new order in combination with pending orders creates an implied spread. The implied spread may be submitted with information to facilitate matching the legs of the implied spread using the new order. The detection of the implied spread may be performed outside of a match engine; thus, permitting the detection to occur in parallel and apart from the operation of the match engine.01-21-2010
20100017320DATA FLOWS IN A COMPUTER OPERATED CURRENCY TRADING SYSTEM - In a computer implemented currency trading support system trades are provided to a third party (01-21-2010
20130013485EVALUATION AND ADJUSTMENT OF SETTLEMENT VALUE CURVES - Disclosed is a method that is useful in connection with providing discount factors for an exchange-traded mark-to-market derivative product that has a variable tick rate, such as an interest rate swap product. In some embodiments, the method includes providing a series of consecutive settlement values, which collectively represent a settlement value curve for the derivative product. The curve is evaluated by determining, for each consecutive pair of settlement values, whether the difference between the first settlement value in the pair and the second settlement value in the pair exceeds a threshold. The threshold represents the value at which a discount factor derived from said pair of settlement values, in conjunction with other parameters, would be negative. In other embodiments the disclosed invention encompasses an apparatus and a computer-readable medium.01-10-2013
20130013481Computerised Method and System for Trading Credit Default Swap Combinations - A computerised trading system comprises a multi-instrument trading platform including a matching engine and a price feed. The matching engine trades credit default swaps as well as the reference instruments from which they are derived. A price feed generates a spot reference price for a leg of a CDS combination such as a roll or a tailor made switch. The price feed receives indicative pricing data from an external pricing source and uses this data to generate the spot reference price together with last trade data and best bid and best offer data for the reference instrument provided by the matching engine.01-10-2013
20100332368MULTICOMPUTER DISTRIBUTED PROCESSING OF DATA REGARDING TRADING OPPORTUNITIES - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.12-30-2010
20080208728Fractional Forward Contracts - A financial instrument, called a fractional forward contract, and a way of using it to apportion risk between parties (08-28-2008
20110055069System and Method for Determining Implied Market Information - Implied prices and their quantities are computed. Markets are characterized by exhaustively computing one or more combinations of other related markets. Each combination when summed in a particular way results in the market under consideration. In a described embodiment, the number of market combinations found is an exhaustive list of market combinations such that the market under consideration can be fully and completely characterized, such that each combination provides implied market information about the market under consideration. Implied market information can include implied prices and their quantities, which are computed for each combination and used accordingly in displays or used by automated or semi-automated trading tools.03-03-2011
20090089199BLOCK TRADING SYSTEM AND METHOD PROVIDING PRICE IMPROVEMENT TO AGGRESSIVE ORDERS - In a trading system for trading securities or the like, traders are given various methods for providing protection from poor executions caused by adverse movements in the market and/or other traders seeking to “game” the system.04-02-2009
20080313068SYSTEMS AND METHODS FOR ENABLING BORROWING OF STOCK - Systems and method for enabling borrowing of stock according to the invention have been provided. One method of facilitating borrowing shares of a pre-determined stock according to the invention may include receiving a list of guaranteed stock lenders. The system may display the list of guaranteed stock lenders in a Graphical User Interface. In response to a selection of one of the guaranteed stock lenders, the system may display an interactive stock borrow dialogue box. The interactive stock borrow dialogue box may display an input field that is adapted to receive an amount of shares that a borrower desires to borrow and that displays a lender field. Following the user selection of a lender, the lender field may be pre-populated—i.e., populated upon initial display of the interactive stock borrow dialogue box—with the user-selected lender. Preferably, the user may modify the lender field.12-18-2008
20100161474System and Method for Processing Failed Trades of Mortgage Backed Securities - The present invention provides a system and method for trading mortgage-backed securities (“MBS”). A system for trading includes a plurality of workstations interconnected by a server. The workstations receive data representing inventories of their MBS pools, which in turn are delivered to the server. The server, in turn, is operable to perform a transaction based on an analysis of the inventory. One type of transaction includes a consolidation of like MBS pools found in different inventories in order to reduce the size of the inventories.06-24-2010
20090299891SYSTEM AND METHOD FOR MANAGING ELECTRONIC TRADING CARDS - A device, system, and method for acquiring, displaying, managing through an electronic binder and trading of random electronic trading cards assigned through entry of a unique code.12-03-2009
20080208732Fixed-Income System For Managing Pre-Trade Activity - Methods and apparatus, including computer program products, for managing pre-trade activity. In general, a distribution of information about what traders and customers want to do may be known. Users may be made aware of trade ideas that can be proposed to a trading desk's buy-side clients. Relevant information on the trading desk may be brought together, and the information may be processed through a set of rules that extract trading opportunities. On the buy side, trade ideas may be extracted without having to have the intervention of a sell-side salesforce.08-28-2008
20120041865TRADING USING INTERMEDIATE ENTITIES - Systems and methods for facilitating trades between two trading entities are disclosed. A computer system may match a bid of a first trading entity for an item with an offer of a second trading entity for the item. The first and second trading entities may each have a credit relationship with the third trading entity. In response to the matching, the computer system may record indications of trades of the item between the first trading entity and a third trading entity, and between the third trading entity and another trading entity such as the second trading entity. The trades may be booked back-to-back such that a net position to the third trading entity in the item is zero. When the first and second trading entities are connected by a plurality of intermediate entities, the computer system may record indications of one or more additional trades of the item.02-16-2012
20120041863System, Method and Computer Program Product for Compiling Golden Copy of Securities Pricing - Systems, methods, and computer program products include a golden copy application for compiling golden copies of securities pricing according to a set of securities rules established by a subscriber that can be used in a computing environment and embodied in computer readable media. Disclosed embodiments of a golden copy application can compile each subscriber's golden copy in accordance with specific rules defined by the subscriber relative to which information source should be used for different asset classes. Each subscriber can identify more than one information source for each asset class, and rank those sources in order of desirability.02-16-2012
20110145130GLOBAL ELECTRONIC TRADING SYSTEM - Methods, systems, and computer readable media for facilitating trading two items (L,Q) from the group of items comprising commodities and financial instruments. At least two agents (06-16-2011
20110145131SYSTEM AND METHOD FOR PROCESSING AND DISPLAYING QUANTITY INFORMATION DURING USER-CONFIGURABLE TIME PERIODS - A system and method for displaying quantity related information determined for a plurality of time periods are described. According to one method, a trader may define one or more time periods for which a trading application may determine traded quantities, traded buys, traded sells, or other quantity related information at a plurality of price levels during the defined time periods. The trading application may then graphically display the quantities for each time period in relation to the static axis of prices. The method further includes periodically updating the displayed traded quantity to reflect the quantity during the defined time period, where the quantity is updated based on subsequent market updates that are received from the exchange for the tradable object.06-16-2011
20090150277Automated Trading System with Position Keeping - In a method and a system for executing automated matching of financial instruments, an order book of the automated trading system in which orders are placed is interconnected with a position-keeping system or module. This is done in a way such that a controlling unit connected to both the order book and the position-keeping system can cancel orders in the order book, if, when an order is traded, insufficient collateral remains for any remaining order in the order book to be covered if traded. The methods and systems can advantageously be used in automated trading systems having a central counterpart.06-11-2009
20110307369FACTORIZATION OF INTEREST RATE SWAP VARIATION - Methods are described for processing and clearing derivative products such as interest rate swaps (IRSs). A swap value factor (SVF) may be generated to calculate the mark-to-market value of an IRS. The SVF may be a function of interest rates derived from a yield curve. Cash flow may be generated between the buyer and the seller to reflect the change in the market price of the derivative, i.e., the mark-to-market process. The results of a cleared swap may be used to determine or alter the margin deposit required by the buyer or seller.12-15-2011
20110307368Entity-banked win, lose or draw derivative instruments - Methods and systems are disclosed for listing and trading fixed-payoff derivative contracts between two or more parties based on the movement of one or more underlying financial instruments. The invention, henceforth referred to as a “Win, Lose or Draw” derivative contract, is a position for or against the occurrence of a designated price event above an underlying financial instrument's spot price before the occurrence of a designated price event below an underlying financial instrument's spot price, or vice versa, within a designated time period. If neither designated price event occurs within the designated time period, no loss of position is incurred by either party. Embodiments of the invention include American-style and European-style contracts, cash or asset-backed contracts, transferable positions, multiple underlying financial instruments within the same contract, asymmetric time periods, expirationless time periods and entity-banked contracts.12-15-2011
20110307367LIQUIDITY AND FILL OPTIMIZATION FOR CROSSING INSTITUTIONAL ORDERS - Presented is a system and method for performing crossing of institutional security orders. The system includes a first server interconnected to a second server that provides an away market for order execution, and includes client stations across a communication network. The first server includes a database and is configured to receive institutional orders from the client station, which are stored in the database. The first server includes operating instructions operable to determine whether a match exists between contra institutional orders based on predetermined criteria. Upon determination of a match, the first server forwards a child order composed of at least a portion of one of the contra orders to the second server. A plurality of participants in the away market have an opportunity to execute a transaction with the child order leading to price improvement on one side of the trade.12-15-2011
20120041862COMPUTERIZED MARKETPLACE FOR RATIO BASED DERIVATIVES - A computerized marketplace for ratio-based derivatives is provided herein. A method implementing the marketplace includes the following stages: receiving a price query related to a selected derivative on two selected underlying assets, defining a ratio of their respective prices in a specified order, at a specified timestamp; applying a pricing algorithm to the query, to yield an ad hoc return or price of the derivative, relevant to the specified timestamp, wherein the price of the option (or return) is based on an estimated relative financial market performance of the selected underlying assets; and presenting the ad hoc price (or return) of the selected option, wherein at least one of: the receiving, the applying, and the presenting is executed by at least one processor.02-16-2012
20110307372System and Method for Randomizing Orders in an Electronic Trading Environment - When a trading application on a client terminal receives a trade order, a randomizer application may automatically randomize one or more order parameters to generate a randomized order. For example, an order quantity, a price level, and/or a time period between sending any two consecutive orders may be randomized. The randomized order is then automatically placed on the market.12-15-2011
20110307371SYSTEM AND METHOD FOR CHART BASED ORDER ENTRY - Systems and methods for chart-based order entry are described. According to one example method a chart is used to display historical market data corresponding to a tradeable object. An order entry interface is displayed in relation to the chart. The order entry interface includes a plurality of price objects for selecting price levels to be used for trade orders to buy or sell the tradeable object. According to one example method, the price levels corresponding to the price objects depend on a location of the interface in relation to the chart, and as the interface is moved in relation to the chart, the price levels are automatically updated. Upon selection of the price level on the interface, a trade order to buy or sell is submitted to a matching engine at an electronic exchange.12-15-2011
20110307370MULTIPLE CLIENT/USER AND CAPITAL MARKET FUNDED PARTICIPATING INTEREST IN QUALIFYING TRUST - Methods and apparatus, including computer program products, for multiple client/user and capital market funded participating interest in qualifying trust. Methods include establishing a legal trust that holds assets and issues obligations that grant participation rights in its assets. The legal trust can be a legal qualifying trust. The legal qualifying trust can grant participation rights to multiple beneficiaries or participants.12-15-2011
20110307365Computer Method and System for Intermediated Exchanges - In a preferred embodiment, this invention includes software processes distributed on one or more computer systems that exchange messages in order to facilitate an intermediated exchange of financial commodities between a plurality of participants. The messages are exchanged according to a preferred protocol that leads to a satisfactory exchange that meets the objectives of the participants, and that substantially maximizes in a fair manner the total amount of financial commodities exchanged. Optionally, the invention employs heuristic rules in association with the preferred protocol that adapt the protocol to the time and exchange requirements of financial commodities. In other embodiments, this invention is equally applicable to the exchange of any tangible or intangible commodities. In a general embodiment, this invention further includes a preferred message-exchange protocol for the construction of computer programs representing exchange participants and an intermediary. These constructed computer programs exchange messages such that a satisfactory intermediated exchange of commodities is substantially certain to be achieved.12-15-2011
20080275807Method and System for Offset Matching - The trading of interest rate swaps or other interest rate derivatives gives rise to mismatch exposure. This can be offset by a series of FRA trades. Rather than conducting a series of exposure neutral trades, FRAs can be bought or sold for the entire amount of a trader's reset exposure. To hedge the offset trades, a series of IMM FRA trades are conducted. The relative size of the IMM contracts will be determined by the distance in time from the IMM quarterly contract settlement date. A system is disclosed for performing offset trades and IMM hedges. The embodiments allow for non-neutral trading and subsequent heging brings trading back to a neutral position.11-06-2008
20090150280INTELLECTUAL PROPERTY TRADING EXCHANGE - A computerized intellectual property trading exchange is disclosed for facilitating the trading of license contracts relating to intellectual property rights. The exchange includes at least one intellectual property license contract relating to intellectual property rights and a computer-accessible forum configured to allow a plurality of participants to trade the license contract. The plurality of participants includes at least one seller, which may be the owner, having the license contract and desiring to trade the license contract. The plurality of participants also includes at least one buyer desiring to obtain the license contract. The buyer may be an investor, speculator, market maker, or arbitrageur, who purchases the license contract to achieve appreciation. The buyer also may be a licensee, who purchases the license contract to practice the intellectual property rights.06-11-2009
20090043685Method and system for implementing an offer/counteroffer negotiation - A method for implementing an offer/counteroffer negotiation. Characteristics of an offer for an item are received, wherein the characteristics comprise at least one term defining the offer. The offer is published to a plurality of bidders. Among the potential responses to the offer, at least one counteroffer is received from a bidder. The counteroffer comprises at least one alternative term. Provided the counteroffer is acceptable, the counteroffer is accepted. Provided the counteroffer is not acceptable, a second counteroffer is transmitted to the bidder, wherein the second counteroffer comprising at least one alternative term with respect to the counteroffer. The present invention allows a negotiator to negotiate terms with one or more bidders individually, outside the constraints of a traditional auction.02-12-2009
20100145845PROCESSING OF DEAL TICKETS - A deal feed system for passing deal tickets to back office systems comprises a deal feed contributor which receives tickets from trades on a plurality of trading systems on a plurality of trading floors, a database for storing the tickets, and a distributor for passing the tickets to back office systems. Virtual deal codes are defined to which a plurality of real deal codes map. The virtual deal codes to which a ticket relates is stored in a table with a reference to the stored ticket. A deal code table is updated with the range of the virtual deal code and the update transmitted to the bank office systems and to traders.06-10-2010
20100332367Prioritization of Trade Order Processing in Electronic Trading - Various systems and methods for trade order processing in an electronic trading environment are provided. According to one or more embodiments, two or more trade orders are currently queued for execution at one or more electronic exchanges and are to be modified at substantially the same time. Each trade order is processed according to a priority based on each order's proximity to a particular market price, for example.12-30-2010
20080281750METHOD AND SYSTEM FOR ADMINISTERING PRIME BROKERAGE - A Straight-Through-Processing (STP) trading platform provides a fully electronic and seamless solution to substantially all aspects of the trading cycle for fixed income instruments and other financial instruments. In an exemplary embodiment, one or more customers, one or more dealers and one or more prime brokers have access to computer software that facilitates trade order management, trade order generation, trade execution, trade allocation, allocation acknowledgement, trade confirmation, acquisition of settlement instructions, and the generation of progress reports based on specific metrics criteria. In said exemplary embodiment, the STP trading platform allows a prime broker to monitor and approve a trade where the STP trading platform includes software modules including at least an account management module and an electronic trading module to handle the various stages of executing a trade, confirming the trade, and facilitating settlement of the trade.11-13-2008
20120041868AGGREGATION OF TRADING ORDERS - Systems and methods for generating limit order books are disclosed. A computer system may receive, from a plurality of trading entities, orders that are specified using a machine-to-machine communication protocol. The computer system may select two or more of the received orders, including orders from at least two different ones of the plurality of trading entities, and then generate a limit order book that includes the selected orders. The computer system may then convey the limit order book to a graphical user interface of a trader. In one embodiment, the orders may be for foreign exchange instruments.02-16-2012
20120041867APPLICATION PROGRAMMING INTERFACE FOR TRADING SYSTEM - A trading system with an application programming interface (API) is disclosed. The API includes a set of routines executable to permit client computer systems to automatically make and take orders for items. The API can permit, for example, machine-to-machine communication that automatically posts an order to the trading system or automatically hits an order that has previously been posted to the trading system. The API can also permit a variety of other functions, including reformatting limit order books. The trading system may also implement a graphical user interface (GUI). In one embodiment, the items may be foreign exchange instruments.02-16-2012
20120041866TRADING SYSTEM WITH INDIVIDUALIZED ORDER BOOKS - Systems and methods for electronic trading are disclosed. A trading system may store information indicative of limits on trading of items between trading entities, including an entity that is a non-credit extending entity. The computer system may then determine respective order books for at least two trading entities, where the order books include dealable bids and offers that have been individualized using stored trading limits. The stored trading limits may in some cases include different limits for different items (which may be different foreign currency pairs, in one embodiment). In other instances, trading limits may be indicative of a net position that a trading entity is permitted to take in an item. Bids and offers may be individualized based on different costs associated with different trading entities.02-16-2012
20120041864VOCALISATION OF TRADING DATA IN TRADING SYSTEMS - A trading system such as an anonymous trading system for trading financial and other instruments can vocalise trading data to trader workstations as well as display it on a screen. Where a trader selects to receive vocal announcements, a trading floor identifier unique to his trading floor is also announced at random intervals.02-16-2012
20120066115System and Method for Trading Order Priority Levels in an Electronic Trading Environment - A system and method for trading order priority levels in an electronic trading environment are described. In one embodiment, a trader who is willing to have his order moved from a high priority level to a lower priority level in an order queue may advertise his willingness to do so, and other traders can place bids for the high priority level. In such an embodiment, for example, a bidder who places the highest bid or whose bid is received first may get the high priority level in the order queue in exchange for the paid fee.03-15-2012
20120066113System and Method for Computing and Displaying Effective Bid and Ask Information - A data feed from an electronic exchange carries certain pieces of market information. Software at the trading station receives the data feed and computes an effective bid price and/or an effective ask price based on a particular quantity to trade. Then, the effective bid price and/or effective ask price are indicated to the user. An effective bid price is an average price at which a certain quantity could be sold based on current market conditions. An effective ask price is an average price at which a certain quantity could be bought based on current market conditions. Depending on the available quantities in the market, the effective prices may represent spreads different from the actual spread of the inside market. This information may be used to, among other things, make more accurate trades at prices. Additionally, a derivative of price, such as yield, may be used to compute other types of effective bid and/or ask information.03-15-2012
20120150711LINKED SHORT ORDER AND SECURITIES LOAN OR LOCATE - A stock loan system receives a sell short order for a financial instrument such as a stock, and determines whether it can provide a locate for the sell short order. If so, then the stock loan system sends sell short order and the locate to a marketplace for execution. In some cases, the sell short order is required to have a stock loan, not merely a locate, to be eligible for execution, and the stock loan system provides the loan, then sends the sell short order with notice of the loan to a marketplace for execution. In some embodiments, an order execution marketplace receives a sell short order for a financial instrument, and, if it can provide a locate, the marketplace provides the locate and executes the sell short order. In some cases, the sell short order is required to have a stock loan, not merely a locate, to be eligible for execution, and the marketplace obtains a stock loan from a stock loan system then executes the sell short order.06-14-2012
20120150717SYSTEM, METHOD AND PROGRAM FOR PREVENTING GAMING IN A TRADING SYSTEM - System, method, and program for preventing gaming in a trading system. The systems, methods and programs can receive an order from a trader to trade securities in an alternative trading system, determine if gaming is occurring, set a price collar for the order, and submit the order to the alternative trading system with the price collar.06-14-2012
20090248564SETTLEMENT PRICING FOR CENTRALLY CLEARED SWAPS - Methods are provided to determine a settlement price for an over-the-counter exchange traded financial instrument. The method includes receiving swap curves from a plurality of market makers and identifying missing data points in the curves. A repair mode may be determined for curves identified as missing data. The curves may be repaired based on the determined repair mode. The selected curves including the repaired curves may be blended together to derive a final settlement prices for each of a plurality of standardized centrally cleared swaps. The financial instruments may include Euro denominated interest rate swaps, U.S. denominated interest rate swaps, or OIS interest rate swaps.10-01-2009
20120072326Smart Trade Template Based Matching - Systems and methods for matching orders are provided. One or more trade templates are created. The trade templates define groups of orders for financial instruments that may be combined such that all of the orders are matched. A collection of tradable price levels is also created for each template. New orders and resting orders are analyzed using one or more trade templates and tradable price levels to determine whether a combination of orders satisfies all of the elements of a trade template with a required price level. When all of the elements of a trade template are satisfied and an order with a tradable price level is received, the corresponding orders may be matched contemporaneously.03-22-2012
20090171832METHOD FOR DISPLAYING MULTIPLE MARKETS - A method is provided for displaying contract information for a plurality of markets within the single window of an electronic display, and displaying a price axis common to the displayed plurality of markets. In a preferred embodiment the electronic display is a computer monitor and the price axis is on the vertical axis of a graph within the single window displaying contract information for the plurality of markets.07-02-2009
20090171833SYSTEM AND METHOD FOR DISPLAYING AND/OR ANALYZING A LIMIT ORDER BOOK - According to one embodiment, a method of generating a display of a limit order book is provided. Data regarding a plurality of limit orders entered onto an electronic market is received and recorded, at least temporarily. The data regarding each limit order includes a price and a time associated with that limit order. Based on the received data, a graphical display is generated that indicates, for each recorded limit order entered into the electronic market within a period of time, the price and the time associated with that limit order. The price associated with each limit order is indicated by a first axis of the graphical display and the time associated with each limit order is indicated by a second axis of the graphical display. The graphical display may be displayed using an electronic display device.07-02-2009
20090171830Payment Transaction System - A system for allocating a resource used in payment transactions is disclosed. The system includes an allocation module that allows a user of a payment device to specify a class of good or service and an allowable resource amount that can be charged to a user account for the selected class of good or service and a control module that authorizes a charge to the user account based on the selected class of good or service and the allowable resource amount.07-02-2009
20090037317Bidding in Online Auctions - Embodiments are directed to systems, methods, and apparatus for bidding in online auctions. In one embodiment, bids for advertising include an amount that is a function of an expected value-per-click and a fraction of a budget already spent for advertising slots.02-05-2009
20120150714System for Trading Illiquid Assets by Liquidity Provisioning and Bid Value Swap (Financial Conductivity). - Systems and methods that use provisions or infusions of liquid assets to facilitate multiparty trades wherein the provisioned liquid assets are sometimes infused into the host illiquid assets to create new semi-liquid or infused assets.06-14-2012
20120072331System and Method for Monitoring Trades Outside of a No-Bust Range in an Electronic Trading System - An alert system that notifies an Exchange's staff of a trade appearing to be outside an expected market range of prices includes determination logic which derives, based on data received from an input device, a theoretical no-bust range of prices, i.e. prices above and below a synthesized market price, within which an erroneous trade cannot be cancelled. Evaluation logic monitors trades and compares them to the theoretical no-bust range of prices. Alert logic notifies the Exchange's staff when the evaluation logic identifies a potentially erroneous trade that lies outside the theoretical no-bust range of prices. A method of notifying the Exchange of a trade that potentially lies outside of an expected range of prices includes monitoring an input range of prices, deriving the theoretical no-bust range of prices, comparing transactions prices to the theoretical no-bust range of prices and notifying the Exchange when a potentially erroneous trade can be cancelled.03-22-2012
20120072328SYSTEM AND METHOD FOR CREATING PARITY ON CLOSE ORDERS - An automated system for creating parity on close orders in an exchange configured for trading securities or derivatives is disclosed including an electronic trade engine operative to receive an order for a security or derivative at the exchange, the trade engine further operative to disseminate a request for a price message to a plurality of market makers quoting a class in response to receiving the order, wherein the request for a price message includes a parity amount for the order; an electronic book in communication with the electronic trade engine, the electronic book operative to store at least one order received by the electronic trade engine; and wherein, in response to the request for a price message, the electronic trade engine receives at least one price message that includes a fee in addition to the parity amount.03-22-2012
20120072327AUTOMATED TRADING SYSTEM FOR ROUTING AND MATCHING ORDERS - An automated system for routing orders in an exchange configured for trading securities or derivatives is disclosed. The system includes an electronic trade engine operative to receive an order from an originating firm, the order including a designation specifying a preference for a particular market maker for a security or derivative at the exchange. Upon determining that the order cannot trade at the exchange, the electronic trade engine, via an order handling system, is operative to route the order to a second exchange with a second designation that is one of: identical to the designation of the received order or modified to a different designation according to predetermined instructions.03-22-2012
20100125520METHOD AND APPARATUS FOR ON-LINE PREDICTION OF PRODUCT CONCEPT SUCCESS - A method, network entity and computer program product are provided for conducting a prediction market to test product concepts. In particular, an interface may be provided from which a user may select one or more markets in which the user would like to participate in a prediction market. Information associated with each of a group of product concepts falling within one of the selected markets, including a stock price, may be retrieved and displayed to the user. The user may indicate a number of shares he or she would like to purchase in at least one of the product concepts, and the stock price associated with each of the product concepts may be adjusted based on the number of shares purchased. A report may be generated and transmitted to a merchant associated with the product concepts being tested, wherein the report may include a volume weighted average price associated with each product concept.05-20-2010
20100057602Electronic trading GUI - In accordance with the principles of the present invention, a graphical user interface for computer trading is provided. A display represents best bid and best ask prices for an execution venue, with one axis representing available prices, and another axis representing time. The display includes a sell area, a bid-ask spread, and a buy area. The boundary of the sell area and the bid-ask spread represents best ask price for the execution venue, and the boundary of the buy area and the bid-ask spread represents best bid price for the execution venue. First indicium on the display represents order executions and second indicium on the display represents orders. The position of the first indicium represents the time and price of the execution, the size represents the size or quantity of the execution, and the colour represents execution type and execution venue. The position of the second indicium represents the price of the order; the size represents the duration of the order, and the colour represents the order type and posted exchange venue. The second indicium can further comprise a transparency representing the size of the order.03-04-2010
20110078065SYSTEM FOR VOLUME-WEIGHTED AVERAGE PRICE TRADING - Systems, methods, and mediums storing programs for trading financial assets. The method can include receiving a first order specifying a first quantity of financial assets to be traded according to a volume-weighted average price for a trading session and executing the first order during the trading session through algorithmic or traditional trading of the first quantity of financial assets on an exchange. The method can also include creating a second order specifying the first quantity of financial assets to be traded according to a volume-weighted average price measured from a moment of cross to an end of the trading session and exposing the second order to a non-exchange crossing pool concurrently with the execution of the first order. The crossing pool can include multiple orders. The method can include continuously determining whether any of the plurality of orders in the crossing pool can be crossed with the second order.03-31-2011
20120047062EXCHANGE TRADED INSTRUMENTS DIRECTED TO MANAGING RISK - The invention relates generally to an exchange traded debt instrument including underlying instruments for managing default risk. The debt instrument allows borrowers and lenders to come together in a futures-style exchange. The exchange acts as a counterparty to all transactions on the exchange thereby transferring default risk from lenders to the exchange.02-23-2012
20120047061SYSTEMS AND METHODS FOR MONITORING CREDIT OF TRADING COUNTERPARTIES - Systems and methods are provided which monitor trades entered into and cleared by counterparties, track the net and gross positions of counterparties and the counterparties' parent entities, trigger warnings when counterparties or their parent entities exceed a warning limit, and shut-off counterparties' trading ability when counterparties exceed a credit limit. An operator of a credit system using these systems and methods is provided with a variety of interfaces through which the operator can set up new counterparties, search a list of counterparties, view and edit basic information for counterparties, view financial information for counterparties, view and edit notes regarding to counterparties, view and edit limits of counterparties, view position versus limit information for counterparties, view the current day's position information for counterparties, and view cumulative position information for counterparties.02-23-2012
20120047060Computerized Moniker-Based Equity Trading System and Method of Creation - A GUI with a relational database backend, and associated computer systems, setup for the real time automation, management, and distribution of financial products of monikers that are created by mathematical means. The GUI, website, relational database, and other associated computer systems will allow a trader the opportunity to trade monikers with other traders. The financial products are identified by the moniker (real name or fictitious name) of an individual, title, position, or character. The mathematical means of generating the financial products consist of the publicly traded companies that the moniker has interacted with. Data that is required to compute the financial products will come from the associated computer systems, other repositories, or forms of documentation acquired manually or automatically. Data is pulled automatically from the relational database to calculate the value of the financial products and then stores the results across multiple computer systems including the relational database accessed through the GUI by an end user.02-23-2012
20080243674System for automated trading of informational items and having integrated ask-and -post features - A hybrid system that supports automated trading of informational items between sellers of such items and buyers who bid on the items includes means for allowing bidders to subscribe to ask-and-post services. A buyer/bidder who subscribes to such services is given the opportunity to be presented with more detailed information about an informational item he or she has bid upon before being obligated to pay for the informational item. If a first asked bidder rejects the item after having been given the opportunity for a sneak peek (or if that first bidder times-out due to no response), then the opportunity is automatically presented to a next subscribing buyer/bidder listed on a dynamically generated list (e.g., a stochastic ordered list). In one class of embodiments, the informational items include lead information for making hot contact with a prospective consumer of predefined products and/or services.10-02-2008
20120047063CONVERSION OF OVER-THE-COUNTER SWAPS TO STANDARDIZED FORWARD SWAPS - Systems, processes and methods are described for converting over-the-counter derivative products such as interest rate swaps (IRSs) to standardized forward swaps, such as centrally cleared interest rate swaps. The value of each leg of the over-the counter swap may be determined and compared to a value of a corresponding leg of the forward swap. A mark-to-market value may be determined as the difference between the values.02-23-2012
20120005066PROCEDURAL ORDER PROCESSING - An order en route to a marketplace is delayed so that a procedure can determine whether to generate a spawned order, and the spawned order is sent to a destination for execution essentially contemporaneously with the sending of the en route order to the marketplace. The spawned order can be sent to the same marketplace or a different marketplace than the en route order is sent to. The spawned order provides additional liquidity.01-05-2012
20120005063FIX PROXY SERVER - Using a feed backbone computer network, enables connection of counterparty customers in disparate Financial Information Exchange (FIX) networks, across IP network boundaries. The feed backbone network links consumer, database, management, and proxy computer systems with a FIX backbone computer network in turn connected to trading extranets via access centers. Proxy computer systems balance their shared message processing load, log message traffic, manage operational sessions, and collect and present aggregated feed information to client users, whether connected locally or to the trading extranets. A software proxy acts as a “middleman” between the two customer endpoints. Copies selected FIX messages to a multicast backbone for aggregation in a standard format. The entire network is centrally configurable and supports realtime operational status.01-05-2012
20120005059Order Entry Actions - Various embodiments disclosed herein relate to order entry. In the electronic trading process, order entry involves setting one or more order entry parameters, sending one or more order entry parameters, or both setting and sending one or more order entry parameters. As will be described in more detail below, various order entry actions, such as moving a cursor across an order entry line, moving a cursor into an order entry region, pressing an order entry button, or performing a gesture, may be used to trigger the setting, sending, or both setting and sending of one or more order entry parameters. At least some embodiments relate to enabling an order entry action before the order entry action is able to set, send, or both set and send one or more order entry parameters.01-05-2012
20120005067Method and apparatus for monitoring and evaluating limit order trading - Systems, methods, apparatus, computer program code and means for generating quality data associated with an option limit order are provided. In some embodiments, an option limit order is received, the option limit order including information identifying a customer, information identifying a desired option, and information that indicates a limit price for said option limit order. A substantially real time feed of option market date is received and the option market data is used in real time to identify at least one of a trade-through and a trade-at transaction relevant to the option limit order. Alerts may be generated based on the identified trade-through or trade-at transaction. Trade-at or trade-through data may be tabulated and analyzed to evaluate option limit order trading activity. Analysis to generate trade-at or trade-through data may be performed on a batch processing basis relying entirely or in part on data received in real time or on a batch basis.01-05-2012
20120005065Synthetic Funds Having Structured Notes - The present invention relates to synthetic funds for purchase by investors. A structured note is structured to provide customized equity returns/exposure. Terms of each structured note may be specified by the purchaser and the structured notes may be unsecured liabilities of the obligor, e.g., there are no underlying assets upon which the structure note is based. Thus, there will be no limits on the use of structured note proceeds and management of assets and liabilities will be left entirely to the obligor's discretion. Structured note payment obligations may be related to the performance of an objective valuation, but structured note holders will depend on the good credit of the obligor for payment.01-05-2012
20120005064OUTLIER TRADE DETECTION FOR FINANCIAL ASSET TRANSACTIONS - Tools are provided for identifying outliers or variations in trade data derived from financial asset transactions, such as securities lending transactions, foreign exchange transactions, over the counter and exchange traded derivative transactions, and equity and fixed income transactions. Such outliers may provide an indication that a given trade is suspicious or potentially inappropriate from a customer relationship point of view, a regulatory perspective, or a legal standpoint. Trades identified as outliers can be utilized in regression analyses to analyze specific trades, trader-broker relationships, or other trading activity.01-05-2012
20120005060System and Method For Configuring Trade Order Parameters - The example methods and systems described herein provide for configuration of one or more trade order parameters to associate with one or more trade orders, where the trade orders may be submitted to one or more electronic exchanges. According to an example embodiment, rather than having the trader manually configure each individual parameter associated with each trade order, a trader can pre-configure customer and order parameters. A user, for example a trader, broker, or market maker, can configure trade order parameters to associate with one or more customers, one or more order types, and/or internal messages to associate with any of the configured customers or orders. Based on the selected customer and tradeable object, the trading system evaluates the pre-configured customer and associated order parameters and determines which trade order parameters best match. The trading system then dynamically populates the order entry window with the specific trade order parameters associated with the best match.01-05-2012
20120005062MULTICOMPUTER DISTRIBUTED PROCESSING OF ORDER AND/OR PRICING INFORMATION - A trading platform and trading method that may allow access to additional pools of liquidity is described. Other embodiments are also described.01-05-2012
20120005058Method and Apparatus for Motion Based Target Prediction and Interaction - Embodiments for motion based target prediction and interaction are described herein. One example embodiment includes predicting a target element based on a user moving a cursor in relation to a trading interface. When a target element is identified, one or more actions may be pre-configured based on the target element. For example, when a target element is associated with a buy action and a price, an order message to buy a tradeable object at the price may be generated based on the predicted target element. Then, a user action may be received to select the target element and to execute the action. The user action selecting the target element may be received prior to the cursor reaching the desired target.01-05-2012
20120005069SYSTEM AND METHOD FOR ESTIMATING PERCEIVED QUALITY OF NEW PRODUCTS - A system and a method are provided, which allow participants to trade virtual stocks corresponding to a plurality of products including at least one new product, and which provide a normalized perceived quality value about each of the products. A plurality of participants is provided with virtual stocks corresponding to the plurality of products and also virtual currency and allowed to trade the plurality of virtual stocks with the virtual currency. The transactions are recorded in a trade log database and analyzed to estimate the perceived quality of the product corresponding to each virtual stock. Accordingly, it is possible to estimate and compare the perceived quality of a new product with that of the existing products, and thus, the price of the new product before launch can be set with increased ease.01-05-2012
20120005068System and Method for Money Management in Electronic Trading Environment - A system and method for money management in an electronic trading environment are presented. According to one embodiment, a trader may configure a plurality of filters, each including at least one filter criteria and filter condition. When a money management module detects a new order, the money management module intercepts the order and determines if the order matches one or more predefined filters. If the order matches one or more filters then conditions associated with the applicable filter(s) are applied to the order. The application of one or more conditions to an order may result in sending a modified order, preventing the order from reaching the exchange, or sending order to the exchange without any modifications.01-05-2012
20120173404METHODS, SYSTEMS, AND COMPUTER READABLE MEDIA FOR FACILITATING THE EXCHANGE OF RECIPROCAL DEPOSITS - A control center receives, from the first bank, a first request with a first set of requirements for placement of reciprocal deposits. A second request with a second set of requirements is received from a second bank. The control center determines whether the first set of requirements matches the second set of requirements, which include maturity and interest rate. In response to a match, the control center performs an exchange of on-balance sheet deposits meeting the first set of requirements from the first bank to off-balance sheet deposits to the second bank. The first bank receives reciprocal deposits meeting the second set of requirements as new on-balance sheet deposits.07-05-2012
20090099956SYSTEM, METHOD, AND REPO DERIVATIVE FINANCIAL INSTRUMENT AND MARKET FOR CONDUCTING REPO SWAP/CFD TRANSACTIONS - A system and method for facilitating a “swap” between the floating and fixed rate markets, and a financial instrument and a market for trading such instruments, based on such transactions. The basis of this new swap/contract is to establish a fixed rate versus floating rate “swap” in the repo market. The floating rate is generally the daily broker averages, but the floating rate could be a quarterly or monthly rate. Quarterly or monthly “floaters” will be more popular in general collateral SWAP/CFD trades.04-16-2009
20090076946SYSTEM AND METHOD FOR MONITORING TRADES OUTSIDE OF A NO-BUST RANGE IN AN ELECTRONIC TRADING SYSTEM - An alert system that notifies an Exchange's staff of a trade that appears to be outside of an expected market range of prices includes an input device, determination logic, evaluation logic, and alert logic. The determination logic derives a theoretical no-bust range of prices based on data received from the input device. The theoretical no-bust range of prices are prices above and below a synthesized market price, within which an erroneous trade cannot be cancelled. The evaluation logic monitors trades and compares those trades to the theoretical no-bust range of prices. The alert logic notifies the Exchange's staff when the evaluation logic identifies a potentially erroneous trade that lies outside the theoretical no-bust range of prices. A method of notifying the Exchange of a trade that potentially lies outside of an expected range of prices includes monitoring an input range of prices and deriving the theoretical no-bust range of prices. The method then compares transactions prices to the theoretical no-bust range of prices and notifies the Exchange when a potentially erroneous trade can be cancelled.03-19-2009
20090307124SYSTEM, METHOD, AND COMPUTER PROGRAM PRODUCT FOR MANAGING SECURITIES FUNDED BY A MUNICIPAL ARBITRAGE PORTFOLIO (MAP) - A system, method, and computer program product for managing securities funded by a municipal arbitrage portfolio (MAP) are set forth herein. A computer receives a daily valuation of a portfolio of securities from an administrator of a special purpose trust (SPT) the portfolio having been issued by the SPT. The portfolio being funded in part by equity from the MAP fund, the MAP fund being an entity subject to securities regulation oversight, the assets of the MAP fund being managed by a fund manager, and the portfolio provides a first series of payments to the MAP fund, the MAP fund having entered into a security agreement with a liquidity provider (LP). A computer verifies the daily valuation of the portfolio. A computer calculates a daily ending net asset value (NAV) of the MAP fund, where the MAP fund holdings include at least the portfolio.12-10-2009
20120011046ORDER DELIVERY IN A SECURITIES MARKET - A method of processing delivery messages in a security processing architecture includes receiving an expression of interest to enter into a transaction to buy or sell a security, matching the expression of interest with other expressions of interest, sending a message to a market participant that a match exists, recording a delivery in a delivery log file, recording the delivery in a delivery work in process (WIP) file, and receiving a response message from the market participant.01-12-2012
20120011055IOI-BASED BLOCK TRADING SYSTEMS, METHODS, INTERFACES AND SOFTWARE - In the financial-services industry, there are online centers that help brokers to match sellers and buyers of stock based on indications of interest (IOIs). However, at least some of these centers are not only limited in the types of IOIs that they provide, but also in the ways how they allow IOI senders to control IOI usage. Accordingly, the present inventors devised, among other things, exemplary systems, methods, interfaces, and software that enhance the ability of such online centers, or financial-information systems, to facilitate trades. One exemplary system provides an IOI which is associated with an online negotiation capability. Some embodiments provide mechanisms for users, such as broker-dealers, to define different IOI response privileges for recipients of their IOIs. To reduce the market risks of failed negotiations, some embodiments provide automated features for comparing confidential information from traders and initiating online negotiations for stock transactions contingent on favorable comparisons.01-12-2012
20120011054CENTRAL COUNTERPARTY FOR DATA MANAGEMENT - A central counterparty for data management (CCDM) receives data relating to financial transactions, associates the data with metadata to create reference data, stores the reference data and provides the reference data in “push” and “pull” ways. The “push” techniques for providing the data include distributing on a data feed, sending the data to parties known to be relevant to the transaction, and sending the data to parties who have a standing query that is satisfied by the data. The “pull” techniques for providing the data include responding to queries received from a variety of parties. The CCDM generates and distributes unique, unambiguous and universal identifiers (U3id's) and associates the U3id identifiers with the reference data.01-12-2012
20120011053System and Method for Providing a Linear Spread - A system and method for providing a linear spread in an electronic trading environment are described. According to one example embodiment, a trading system can receive market information associated to a trading strategy, known as a spread. The trader may also define a market volatility parameter to utilize in the calculation of a linear spread price axis. The received market information and a divide spread algorithm are also used to determine the linear spread price axis. The trading application determines a linear spread price axis, at which price levels are separated by consistent linear tick increments. The linear spread price axis allows for more efficient and effective trading in the electronic trading environment especially when certain tradeable objects are traded or when certain spread algorithms, like the divide spread algorithm, are utilized.01-12-2012
20120011052SYSTEM AND METHOD FOR PREVENTING CROSS TRADING - Information regarding the current state in the market is used to prevent orders from crossing. In an example provided herein, when an order is entered into a market, information regarding current positions in the market is taken into account to determine whether the order will cross with other orders. If the orders would cross, appropriate action is taken to prevent the crossing of orders in a way suitable for the person or persons trading. The teachings described herein may be used for any reason to prevent orders from crossing. Moreover, they may be used in other areas of trading to assist the trader in obeying any other rule or regulation that might involve analyzing current positions in the market before taking action.01-12-2012
20120011050Biophysical Geoengineering Compositions and Methods - Described here are compositions, methods and apparatus for biological and physical geoengineering. Disclosed are inorganic particles, prill, pucks, or floats for dispersal on a body of water. These compositions are found to A) increase yields for pelagic aquaculture, B) increase carbon sequestration, and C) provide immediate relief from global warming by directly increasing surface albedo, reducing sea surface temperatures, and indirectly by increasing cloud nucleation activity. A vertical spar buoy or spar buoy network is provided. The buoys or array of buoys are designed to resist wave motion while supporting an analytical platform below the 100-Year Horizon. Sedimentary deadfall through the 100-Year Horizon is measured and flux of fixed carbon is reported and validated. Issuance of validated carbon sequestration certificates and monetization and trading of those certificates are also described.01-12-2012
20120011048METHOD AND SYSTEM FOR CURRENCY EXCHANGE BY POINT OF CONVERSION - In one embodiment, one use of the disclosed method/system is for any multinational entity or individual performing currency exchanges is for business or personal use. This embodiment will greatly enhance the Transparency of the Cash Conversion Process at the ACTUAL POINT OF CONVERSION (POC), revealing dealt and offset pricings and TIME thereof thus providing the customer with a complete report of conversion as with any commodity conversion. With the POC method, the client will have a substantially complete accounting of the value of the funds conversion from one region's currency to another.01-12-2012
20120011047NEWS INDUCED AUTOMATED ELECTRONIC SECURITIES TRANSACTIONS - News information is received. It is determined if the news information contains a reference to a company. It is further determined if the news information matches criteria associated with the company. Securities are automatically trade upon determining that said news information contains a reference to the company and determining that said news information matches criteria associated with the company.01-12-2012
20120011044METHOD AND SYSTEM FOR ISSUING PRIMARY SECURITIES IN A TRADING MARKET - Methods and corresponding systems and non-transitory computer readable media are provided that cause at least one interface screen to be displayed on at least one client device associated with a primary issuer. The interface screen or screen generally includes information regarding an offering of primary securities and at least one form element for the primary issuer to define terms of an offer to sell the primary securities. The primary issuer may therewith submit an offer to sell the primary securities and confirm that the primary issuer is legally authorized to issue the primary securities. Thereafter, the offer to sell the primary securities may be communicated to a trading market for execution.01-12-2012
20120011043Machine, Program Product, and Computer-Implemented Method to Contstruct a Person-to-Person Loan - Embodiments of the present invention provide a marketer for person-to-person lending or a bank server to promote a plurality of individual lenders bidding on a plurality of person-to-person loan requests from a plurality of individual borrowers to thereby construct person-to-person loans with a bank as an intermediary. The marketer computer establishes a person-to-person lending profile for the lender, include preferences for the lender. A bank server establishes an account for the benefit of the lender and determines an account balance for the individual lender. The bank server creates the loan with the borrower responsive to loan terms determined by the marketer computer. The bank server assigns at least part of the loan to the lender to construct the person-to-person loan with the bank as intermediary and withdraws funds corresponding to the at least part of the loan assigned to the lender from the account.01-12-2012
20120047058Non-biased, centrally-cleared financial instrument and method of clearing and settling - In accordance with the principles of the present invention, a non-biased, centrally-cleared financial instrument, and method of electronic clearing and settling such a financial instrument is provided. The non-biased, centrally-cleared financial instrument of the present invention is to be centrally cleared and can be traded or transacted either on or off an exchange or trading platform, whether traded as a future or other type of financial instrument. The non-biased, centrally-cleared financial instrument of the present invention has a terminal value such that the terminal value offsets co-movement of variation margin and investment return on the variation margin during the life of the financial instrument.02-23-2012
20120011051Methods And Systems For Directing And Executing Certified Trading Interests - One or more aspects comprise: (a) receiving confidential information that comprises data regarding first and second market participants; (b) receiving order and targeting parameters from said first participant; (c) receiving confidential trading interest information from said second participant; (d) identifying said second participant as a participant likely to take a contra side of said order; (e) routing said order to said second participant without revealing said first participant's identity or other confidential information regarding said first market participant, and wherein no information regarding said second participant or said confidential trading interest information received from said second participant is transferred to said first participant; and (f) producing a targeted dissemination list of market participants based on said confidential information and said order and targeting parameters, and wherein identifying a second participant that is most likely to take a contra side of said order is based on said dissemination list.01-12-2012
20120011045METHOD AND SYSTEM FOR IDENTIFYING PARTIES WITH CONCENTRATED POSITIONS IN SECURITIES - Methods and corresponding systems and non-transitory computer readable media are provided that allow users of the system to identify potential sellers with a concentrated position in one or more securities, from a database that includes a plurality of potential parties, for a trade in one or more securities. Once identified the system may pair a potential buyer with the identified potential seller with the concentrated position and enable the potential buyer and seller to communicate offer and counteroffer messages between each other to negotiate a sale of securities held.01-12-2012
20110166984Flexible System and Method for Electronic Trading - System, method, and program products offer flexibility to the rather rigid way of trading in an electronic trading system. Orders for a tradeable object may typically get matched according to set terms and/or conditions at an electronic exchange. A trader may log onto the electronic exchange to trade the tradeable object, and may choose to display and trade the tradeable object according to a different set of terms and/or conditions. As such, the market data sent to the trader from the exchange is converted to a format according to the trader's selection, so that it may be presented to the trader in this format. Transaction messages sent to the exchange from the trader are converted to the format readable by the matching process, so that it can process the messages. Other features and advantages are described herein.07-07-2011
20110166983Investment Funds Enabling a Bond Laddering Strategy - An open-ended fund, such as an ETF, holds fixed-income securities and has a liquidation date. An order management system receives buy orders from a plurality of investors for purchasing shares of the fund receives and sell orders from a plurality of investors for selling shares of the fund. A fund management information system determines a yield for each investor based on the shares of the fund purchased by the investor and the fixed-income securities held by the fund at the time that the shares were purchased. The fund management information system also determines a plurality of distribution payments and a final liquidation payment for each investor so that the distribution payments and the final liquidation payment provide the yield determined for the investor when the investor purchased shares of the fund. This enables investors to use the fund in a bond laddering strategy.07-07-2011
20110166985SYSTEM AND METHOD FOR PROVIDING FUTURES CONTRACTS IN A FINANCIAL MARKET ENVIROMENT - A method for offering an asset in a financial environment is provided that includes receiving a request to perform a selected one of a purchasing and a selling operation for a futures contract. The futures contract includes a first asset class having a first value associated therewith and a second asset class having a second value associated therewith. A price for the futures contract is determined at least partially by the first and second values.07-07-2011
20110166982INTRADAY RISK MANAGEMENT DATA CLOUD COMPUTING SYSTEM CAPABLE OF CONTROLLING EXECUTION OF ORDERS - In at least one embodiment, a method and system associated with financial articles of trade may include comparing relevant portions of data pertaining to an attempted transaction, wherein the transaction may pertain to one in which an entity is financially liable but unaware. At least one embodiment includes monitoring market transaction activity data to determine when a trading entity has exceeded an aggregated limit, such as one or more trading sub-limits corresponding to one or more custodial prime brokers facilitating trading for the trading entity. At least one embodiment includes a pre-trade gateway to determine if an order violates a pre-trade risk based on information collected by a front-end analyzer. Possible actions include, but are not limited to, placing a null order, terminating a connection associated with the order, modifying the order so as not to violate a pre-trade risk check, and/or notifications to one or more entities.07-07-2011
20130151396Trade Order Submission for Electronic Trading - Various systems and methods for trade order processing in an electronic trading environment are provided. The order processing includes initiating a first thread of instructions at a computing device to send a first trade order onto an electronic exchange. However, if one or more trade orders are identified during the process to send the first trade order, then the one or more orders are queued. When the first trade order is sent to the electronic exchange, then a second thread of instructions is initiated at the computing device to send the queued one or more trade orders (substantially together, if there is more than one) on to the electronic exchange.06-13-2013
20130013486Method and System for Predicting Solar Energy Production - A method for hedging energy sales or purchases in a short-term future or day-ahead market includes determining an historical performance of a regional net energy forecasting methodology for a facility or facilities which have solar energy generating systems in a geographical region. The method further includes estimating a difference between the maximum cost of energy in a spot market and an energy trader's minimum price of energy for each hour bid in the short-term future or day-ahead market, determining a risk factor associated with energy sales or purchases from the historical performance and the estimated difference, and purchasing or selling options to buy energy at the previous day's day-ahead market price based on the determined risk factor.01-10-2013
20120066109SYSTEM AND METHOD FOR DERIVING DATA - Best bid and best offer rate data from deals concluded on an anonymous trading system in a fungible instrument such as a foreign currency pair are processed to derive indicative rates. A minimum indicative rates spread between bid and offer prices is defined. The indicative rate bide and offer prices are set to the received best bid and offer prices and alternatively an amount is added to the indicative offer rates and subtracted from the indicative bid rates until the spread between the indicative bid and offer rates is greater than or equal to the predefined minimum indicative rates spread and greater than the spread between the best bid and offer prices.03-15-2012
20120066112System and Method for Changing the View of a Trading Screen - A trading screen displays market information, such as working orders, buy and sell orders, and other items of interest, in association with values on a value axis. Each item of interest is therefore displayed in relation to the value axis to provide a trader with an intuitive display of the market. In one embodiment, a user can select a location associated with a particular value on the trading screen and upon an selection, for example, by a click of the mouse button, the value axis is repositioned so that the selected value is moved to a predefined location. During which, market information is moved to new locations that are associated with their respective values on the value axis.03-15-2012
20120066110System And Method For Displaying A View Of Market Depth On A Graphical User Interface - A graphical interface and method are provided for displaying market information corresponding to a tradeable object. According to one example embodiment, a market depth indicator is displayed in relation to a value axis in a market overview interface. Then, detailed market depth is displayed in a market depth interface, and a plurality of market depth prices displayed in the market depth interface are adjustable based on a position of the market depth indicator in relation to the value axis.03-15-2012
20120016786Distributed Server Side Device Architecture - An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.01-19-2012
20120016785Smart Matching for Synthetic Spreads - A smart match for synthetic trades may include monitoring working, or quoting orders, as well as legged hedge orders for one or more synthetic trades of a trader to identify possible matches prior to submitting a new order for trading. A resting (i.e., legged) hedge order for a synthetic trade of a trader may be pending execution while a second order from the synthetic trade, another synthetic trade, or an outright trade, may be identified. When the resting hedge order matches the second order, a cancel or delete message may be sent to the exchange for the resting hedge order, and the resting hedge order and second order may be matched or filled for the trader. When the resting hedge order is for a larger quantity than the second order, the message may delete or cancel a portion of the resting hedge order. If the quantity of the resting hedge order is for less than the second order, the message may be for the entire quantity of the resting hedge order, and a portion of the second hedge order may be submitted for trading.01-19-2012
20120016784Managing Hedge Orders for Synthetic Spread Trading - Hedge legs for synthetic spread trading strategies are managed as attached or detached from a synthetic spread order. A legged hedge order may be changed, adjusted, deleted, cancelled or otherwise managed according to changes, adjustments, deletions ad/or cancellations of the synthetic spread order upon which the legged spread order was submitted.01-19-2012
20120016790SYSTEM AND METHOD FOR MANAGING RELATIONSHIPS BETWEEN BROKERS AND TRADERS USING A MESSAGING FORMAT - According to one embodiment, a method of managing messages in a trading network is provided. A set of user relationships between a first user and one or more second users authorized to act on behalf of the first user is stored. A trading message regarding a trading order submitted on behalf of the first user is received from a trading system. The trading message is communicated to the first user. Each of the second users is identifying from the set of user relationships. For each of the identified second users, a carrier message is generated that includes the trading message and routing information associated with that second user. For each of the identified second users, the respective carrier message is communicated toward a user application associated with that second user based at least on the routing information included in the respective carrier message.01-19-2012
20090094151Method and apparatus for improved electronic trading - A method and apparatus for outputting data that represents the change in value of an options premium that would have resulted if the options traded in a direct linear volume relationship with its underlying security is provided. Input values utilized include a delta value, a gamma value, a value-weighted average price of an underlying stock, a reference price of the underlying stock, and an original order premium value.04-09-2009
20120022992METHOD FOR COMPUTERIZED WAGERING - A system and method for networked exchange are disclosed. A system for networked exchange comprises an internal proxy (01-26-2012
20120022999SYSTEM AND METHOD FOR PROVIDING LATENCY PROTECTION FOR TRADING ORDERS - A system for managing trading orders comprises a memory operable to store an order associated with a first price. The system further comprises a processor communicatively coupled to the memory and operable to identify a latency value. The processor is further operable to receive a counterorder and to identify a potential trade associated with the order and the counterorder, the potential trade based at least in part on the first price. If the latency value satisfies a configurable condition, the processor is further operable to initiate a configurable period of time. If the potential trade is not valid upon expiration of the configurable period, the processor is further operable to prevent the execution of the potential trade.01-26-2012
20120022998SYSTEM AND METHOD FOR MANAGING TRADING ORDERS WITH DECAYING RESERVES - A system comprises a memory operable to store a trading order for a particular quantity of a trading product, wherein a first portion of the particular quantity is a displayed quantity and a second portion of the particular quantity is a reserved quantity. The system further comprises a processor communicatively coupled to the memory and operable to disclose the displayed quantity to one or more market centers. The processor is further operable to identify a decay rate associated with the trading order. The processor is further operable to cause the reserved quantity to decay based at least in part on the identified decay rate.01-26-2012
20120022997METHOD AND SYSTEM FOR FACILITATING SECURITIES PLACEMENTS - Methods and corresponding systems and non-transitory computer readable media for facilitating securities placements are provided that allow users of the system to identify a plurality of investors having interests that correspond to an investment project and communicate to one or more investors at least one message that includes non-confidential, basic information regarding the investment project. The system may match investors to the investment project, automatically or otherwise, based on the investors' express or implied interest with regard to one or more securities. Once one or more of the investors that may be interested in the investment project indicate that the investor agrees to maintain project information confidential, the system may thereafter provide the investor with confidential, specific information regarding the investment project. Thereafter, the issuer and investors may negotiate the terms of the private placement and generate documents for the transaction.01-26-2012
20120022996METHOD AND SYSTEM FOR IDENTIFYING PRIMARY ISSUERS WITH ABILITY TO SELL PRIMARY SECURITIES - Methods and corresponding system and non-transitory computer readable media are provide that allow a user of the system to identify primary issuers authorized legally to sell primary securities, from a database that includes a plurality of potential parties, for a trade in one or more securities. The legal authority to sell primary securities may be premised on a regulatory limitation that requires the primary issuer take at least one action in order for the primary issuer to be authorized legally to sell the primary securities. Once identified the system may pair the user and the identified primary issuer and enable the user and the identified primary issuer to communicate offer and counteroffer messages between each other to negotiate a sale of primary securities.01-26-2012
20120022994Large Block Trading System with Trading Controls for Aggressive Pricing - A system and method for trading large blocks of securities with controls for limiting trading under conditions of aggressive pricing are described The system and method are preferably used by a buyer or seller in the electronic trading of securities in dark pools, e.g., and ATS or ECN, that include algorithmic trading or other computer-based programmed trading. Preferably, the system and method will be automatically activated to control trading volume when the price of a security being traded becomes aggressive and priced outside of the trader's target price instructions.01-26-2012
20120023000WHOLE CROP BIOFUEL PRODUCTION (WCBP) - A computerized method of using a data processor having a memory to account for carbon flows and determine a regulatory value for a biofuel can include (i) storing, in memory, a first set of one or more carbon flow values characterizing the production and use of a biofuel derived from a first fraction of an agricultural biomass, (ii) storing, in memory, a second set of one or more carbon flow values characterizing the production and use of a co-product from a second fraction of the agricultural biomass, wherein the second fraction comprises an agricultural residue and wherein the co-product mitigates anthropogenic greenhouse gas emission, and (iii) calculating, using the data processor, a regulatory value for the biofuel from the first and second sets of carbon flow values.01-26-2012
20120022991Consolidated Price Level Expansion - Certain embodiments provide consolidated price level expansion. Data associated with the individual price levels represented by a consolidated price level is expanded and provided through an expanded consolidated price level interface. In certain embodiments, the expanded consolidated price level interface includes a pop-up interface. In certain embodiments, the expanded consolidated price level interface includes an in-line interface. In certain embodiments, an order may be entered using the expanded consolidated price level interface.01-26-2012
20120023005Securitization of a Commercial Transaction - A method and apparatus for generating a tradable security includes confirming a vendor's compliance with predefined terms of a commercial transaction, such that a buyer is obligated to make a due payment. The method and apparatus further includes electronically rating a financial commitment relating to a receivable account for the commercial transaction. This receivable account is rated based on conditions and factors known to a system facilitating the commercial transaction. Based on the ability for the financial commitment to be rated, a financial exchange is operative to transfer entitlement rights to monies due under the receivable account where the terms for the transfer of the entitlement rights are based at least in part on the electronic rating. Thereby, receivable accounts to commercial transactions may be tradable by one or more investors as properly rated investment.01-26-2012
20120023001SOLID PHASE BIOMASS CARBON STORAGE (SPBCS) - A computerized method of using a data processor having a memory to account for carbon flows and determine a regulatory value for a biofuel includes (i) storing, in memory, a first set of one or more carbon flow values characterizing the production and use of a biofuel, wherein the biofuel is derived from a first fraction of an agricultural biomass, (ii) storing, in memory, a second set of one or more carbon flow values characterizing the sequestration of solid phase biomass carbon, wherein the solid phase biomass carbon is derived from a second fraction of the agricultural biomass and wherein the sequestration mitigates anthropogenic greenhouse gas emission, and (iii) calculating, using the data processor, a regulatory value for the biofuel from the first and second sets of carbon flow values.01-26-2012
20120023003SYSTEM AND METHOD OF IMPLEMENTING MASSIVE EARLY TERMINATIONS OF LONG TERM FINANCIAL CONTRACTS - A method of and system for terminating or assigning outstanding OTC derivative transactions between a plurality of financial institutions (banks). The system comprises: a processing station arranged to receive transaction data describing a plurality of transactions from a plurality of banks via the Internet. The processing station comprises: a linking module for linking different versions of the same transaction received from different parties to that transaction; an analysis module for determining a set of linked transactions between a plurality of different banks, wherein each bank has debts and claims towards other banks in the set; a calculation module arranged to calculate an aggregated value of each set of linked transactions and select the set of linked transactions which has an aggregated value within bank-specified tolerance limits acceptable for executing a termination; and an execution module for executing a termination or assignment of the selected set of linked transactions.01-26-2012
20120023002SYSTEM AND METHOD OF IMPLEMENTING MASSIVE EARLY TERMINATONS OF LONG TERM FINANCIAL CONTRACTS - A method of and system for terminating or assigning outstanding OTC derivative transactions between a plurality of financial institutions (banks). The system comprises: a processing station arranged to receive transaction data describing a plurality of transactions from a plurality of banks via the Internet. The processing station comprises: a linking module for linking different versions of the same transaction received from different parties to that transaction; an analysis module for determining a set of linked transactions between a plurality of different banks, wherein each bank has debts and claims towards other banks in the set; a calculation module arranged to calculate an aggregated value of each set of linked transactions and select the set of linked transactions which has an aggregated value within bank-specified tolerance limits acceptable for executing a termination; and an execution module for executing a termination or assignment of the selected set of linked transactions.01-26-2012
20120023004METHOD FOR SETTLING COMMODITY TRADES - A third party scheduling company receives future commodity transaction data from subscriber companies and identifies transactions which are circular in nature (i.e. a series of transactions which begins and ends with the same company). The scheduling company notifies the subscriber companies when a circular transaction exists to allow these companies to settle the transaction into a purely financial obligation.01-26-2012
20120059754System and method for auction based sales and procurement of geographically dispersed aviation fuel and services - A computer-based network auction system and method where geographically dispersed aircraft operators solicit competitive quotes for fuel and services from geographically dispersed FBOs, and FBOs submit quotes and communicate and market directly to aircraft operators planning trips to the FBOs airport or nearby airports.03-08-2012
20120059752POST TRADE HANDLING MODULE AND A METHOD THEREIN - The invention relates to a method in a post trade handling module (03-08-2012
20110093381SYSTEM AND METHOD FOR PROVIDING MARKET UPDATES IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method are provided for modifying how market updates are provided in an electronic trading environment upon detecting one or more triggering events. One example method includes defining an event to be used to trigger modification of how market updates are provided to a client entity, receiving a market update from an electronic exchange, and, when the event is detected, modifying how the market update is provided to the client entity. As an example, the modification of how the market update is provided to the client entity may include providing less data in relation to market updates, and sending the market updates less frequently.04-21-2011
20110093380METHOD AND SYSTEM FOR IDENTIFYING HIGH PROBABILITY TRADE MATCHES - Methods and Systems for routing an indication of interest message are provided in which one or more external trade messaging systems are monitored to discover and collect information related to a trading posture of a plurality of trading counterparties. The information related to the trading posture of the plurality of trading counterparties is stored in a database and accessed, upon receipt of an indication of interest message to intelligently route the indication of interest message to at least one of the plurality of trading counterparties based at least in part on the information regarding the trading posture of the plurality of trading counterparties stored in the database.04-21-2011
20110093379Virtualizing for User-Defined Algorithm Electronic Trading - Certain embodiments reduce the risks of traditionally programmed algorithms such as syntax errors, unclear logic, and the need for a non-trader programmer to develop the algorithm as specified by a trader by reducing or eliminating the writing of programming code by a user. Certain embodiments provide a design canvas area and blocks for designing an algorithm. Certain embodiments provide for grouping blocks placed in the design canvas area. Certain embodiments provide for virtualized group blocks enabling dynamic instantiation of portions of an algorithm to handle particular discrete events. Certain embodiments provide for operation of some or all portions of an algorithm when a connection between a client device and an algorithm server is broken.04-21-2011
20110093378User-Defined Algorithm Electronic Trading - Certain embodiments reduce the risks of traditionally programmed algorithms such as syntax errors, unclear logic, and the need for a non-trader programmer to develop the algorithm as specified by a trader by reducing or eliminating the writing of programming code by a user. Certain embodiments provide building block buttons and an algorithm area to define an algorithm. Certain embodiments provide live evaluation of an expression as the algorithm is being defined. Certain embodiments provide a design canvas area and blocks for designing an algorithm. Certain embodiments provide live feedback for blocks as the algorithm is being designed. Certain embodiments provide for initiating placement of an order to be managed by a selected user-defined trading algorithm from a value axis and for displaying working orders being managed by different user-defined trading algorithms on the value axis. Certain embodiments provide a ranking tool.04-21-2011
20110093377Systems and Computer Program Products for Exchanging an Obligation - Methods and apparatus which deal with the management of risk relating to specified, yet unknown, future events are disclosed.04-21-2011
20110093376Combinatorial portfolio aggregations electronic trade - A method for combinatorial portfolio aggregations in electronic trade transactions , in one example embodiment, comprises receiving data associated with an offer for possession of at least one part of an item for a period of time, receiving further data associated with at least one further offer for possession of the at least one part of the item for at least one further period of time, the time period and the at least one further period of time being non-concurrent, selectively aggregating the offer with the at least one further offer into a portfolio offer for the at least one part of the item, and based on predetermined criteria, determining that the portfolio offer is a winning portfolio offer.04-21-2011
20110093375System and method for supporting a bidding procedure in an electronic network - A system for implementing an information distribution network includes an information service that is configured to provide information distribution services through the information distribution network. User devices are utilized by device users to communicate with the information service for receiving the information distribution services. Transport structures are implemented for communicating with various network entities in the information distribution network. The transport structures collect appropriate metadata for providing selected information from the information service to targeted ones of the device users. A bid marketplace is provided for advertisers to utilize for participating in a bidding procedure for obtaining acquisition rights to the metadata.04-21-2011
20090150278System and method for optimizing the reserve price and allocation of web page placements in an online keyword auction using generalized trade reduction - An improved system and method is provided for optimizing the reserve price and allocation of web page placements in an online keyword auction using generalized trade reduction. To do so, a generalized trade reduction engine may be provided to convert an implementation of an online keyword auction into a double-sided auction that may optimize the reserve price and allocation of web page placements to maximize revenue. An online keyword auction may be converted into a double-sided market by turning every bidder in the auction into a buyer and every web page placement into a virtual seller. The allocation of buyers and sellers may be divided into disjoint procurement sets and the generalized trade reduction engine may add or remove procurement sets in iterations until conditions of competition among remaining traders may be fulfilled to optimize the reserve price and allocation of web page placements to maximize revenue.06-11-2009
20120209757System and Method for Providing Futures Contracts in a Financial Market Environment - A method for offering an asset in a financial environment is provided that includes receiving a request to perform a selected one of a purchasing and a selling operation for a futures contract. The futures contract includes a first asset class having a first value associated therewith and a second asset class having a second value associated therewith. A price for the futures contract is determined at least partially by the first and second values.08-16-2012
20120209758Routing of Orders in Equity Options by Means of a Parameterized Rules-Based Routing Table - An enhanced system and method for the “smart” routing of orders in an electronic options environment is disclosed. The method of routing includes different rules and protocols for orders that are allowed to route using a traditional intermarket linkage than for orders that are allowed to route using an alternative private direct connection or third-party service provider. The system and method of routing has at its basis a configurable, rules-based routing table that allows orders to be routed using different protocols based on the account type of the incoming order.08-16-2012
20120066111System and Method for Settling Trades - A method of settling trades includes the steps of obtaining an authenticated delivery instrument, wherein the authenticated delivery instrument is authenticated by a first exchange and may be used to settle a trade undertaken on the first exchange. An electronic proxy is issued for the delivery instrument, wherein the electronic proxy may be exchanged for the authenticated delivery instrument and where the electronic proxy is used to settle a trade undertaken on a second exchange.03-15-2012
20120123928SPORTS SHARE TRADING SYSTEM AND METHOD - The sports share trading system provides a web site in which users, using real money, trade equitable shares of athletes in a closed market. Rookie sports cards are tokens representing the shares of stock in the athletes and are traded as financial instruments via the web site. Users who buy cards, i.e., shares of stock, and keep them in the market are eligible for bonuses and guaranteed buy-backs if they choose. A Hall-of-Fame guaranteed buy back rewards users owning shares representing athletes who reach predetermined performance levels designated as “Hall of Fame Tiers”. The buy-back offers are at a predetermined, published, guaranteed price, representing a conditionally guaranteed future value of all purchases. The self-contained trading platform web site is accessible by a variety of web-enabled devices.05-17-2012
20120123926INTERACTIVE INFORMATION SYSTEM - According to an exemplary embodiment of the present invention, an interactive information system for providing user data is stated, in which a control unit pre-processes data selected from raw data received from at least one individual data source. The selected pre-processed data is then transmitted to a user interface device where it is further processed and interactively displayed. User data is transmitted as an array of data points to the user interface device via a data packet of a fixed maximum size. User data may be transported to the user interface device, even in the case if the network connection between the control unit and the user interface may be very bad, i.e. the network connectivity and/or the bandwidth are very low.05-17-2012
20120158569Implied Market Trading System - A computer based trading system implies spread markets from multiple real or implied spread markets. In particular, one aspect of the invention permits implication of a spread market from a combination of inter-commodity and inter-calendar spread orders. Furthermore, another aspect of the invention allows use of nontradeable implied or bridge markets to combine with other implied or real markets to create further tradeable implied markets. The method described herein thereby permits the creation of all implied markets that are inherent in the combination of futures, calendar spread and inter-commodity spread real orders.06-21-2012
20120158568SYSTEMS AND METHODS FOR FACILITATING ELECTRONIC SECURITIES TRANSACTIONS - A method for facilitating securities transactions is shown. In one embodiment, the method provides for pricing shares of stock traded between anonymous parties without requiring pricing negotiations between parties. The method can include matching, via an electronic trading system, a first party and a second party in response to receiving contra binding orders for a security from the parties, transmitting, to each of the parties, an indication of the matching, receiving, via an electronic trading system, a first trade confirmation from the first party, determining, for the security, a midpoint of a price spread at the time the first trade confirmation was entered, receiving, via the electronic trading system, a second trade confirmation for the security from the second party, and executing, via the electronic trading system, a transaction for the security between the first and second parties, wherein the security price is determined in response to the determined midpoint.06-21-2012
20120158567HYBRID TRADING SYSTEM FOR CONCURRENTLY TRADING THROUGH BOTH ELECTRONIC AND OPEN-OUTCRY TRADING MECHANISMS - A system and method of allocating orders in an exchange configured for trading by a combination of electronic and open-outcry trading mechanisms is provided. One method includes permitting multiple quotes to be disseminated to the market, and providing market making rights of varying degrees to entities having a physical presence on the floor of the exchange and entities remotely located away from the trading floor. The system includes a trade engine configured for receiving orders from market makers on and away from the trading floor. The system also includes executable instructions for allocating to designated primary market makers a portion of an incoming order remaining after first trading against public customer orders.06-21-2012
20120072332Public Offering Risk Management - The present invention provides an auction system that allows IPO sales to be offered in an open and transparent manner, wherein, a certain percentage (up to 100%) of shares in an IPO can be offered to qualified bidders at a “buy now” pre-auction price, set by an issuer and/or underwriter. Investors can be allowed to “bid some shares out of the auction process” and thus guarantee those investors' allocation while also allowing bidders to participate in an open auction for other shares. Shares of stock to be offered in an IPO can include a subset of pre-auction price shares and a subset of auction price shares. The pre-auction price shares are offered to pre-auction bidders at a pre-auction price, and auction shares are generally sold to the highest bidder. Pre-auction sales can serve as a catalyst for generating enthusiasm for an associated IPO auction.03-22-2012
20120072329ELECTRONIC QUANTITY PURCHASING SYSTEM - Disclosed is an electronic quantity purchasing system which is a host computer that a user may access to purchase quantities of goods or services at a locked-in price for later redemption. The preferred communication means employed is via secure, high-speed Internet access. Data storage is electronic. Users employ the system to make an instant purchase of a small or large quantity of a commodity, such as gasoline at the current purchase price. Users can redeem all or part of their balance for real product at a physical location in the future when desired. The redemption will draw down the user's account balance at the locked-in purchase price, so the user is able to circumvent the market price in effect at the time of redemption.03-22-2012
20120072333SYSTEM AND METHOD FOR DISPLAYING AND/OR ANALYZING A LIMIT ORDER BOOK - Various systems and methods for determining information about limit orders is provided. Data regarding a plurality of limit orders entered onto an electronic market is received and stored. For each of a subset of the plurality of limit orders, a market distance is determined. The market distance comprises the difference between the price of the respective limit order and a market price. A weighting of the respective limit order is determined based at least on the determined market distance for the respective limit order. One or more market indicators is determined based at least in part on the weighting of each of the at least two limit orders. The one or more market indicators are caused to be displayed in a graphical user interface.03-22-2012
20080301028APPLICATION OF BROKERING METHODS TO PERFORMANCE CHARACTERISTICS - This application describes an application of resource unit brokering algorithms, chip management methods for automated brokering, chip management methods for live brokering, and chip allocation methods to the brokering of performance characteristics of service level management within an enterprise. Typically, the performance characteristics are derived from known capacity values that are provided by configuration managers. Calculations are made on the capacity values and maximum quantities of the availability resource units are provided to resource brokers for spot or periodic sale and auction to one or more buyer's agents.12-04-2008
20120072330TRADE EXECUTION METHODS AND SYSTEMS - One embodiment of the present invention relates to securities trading using electronic systems. Another embodiment of the present invention relates to a computer implemented trade execution method, comprising: sending from an execution venue to each of a plurality of smart order routers a notification message; receiving at each of the smart order routers the notification message sent thereto, wherein the notification message notifies each of the smart order routers about the presence of a non-displayed priced order at the execution venue; sending from at least one of the smart order routers to the execution venue at least one order to execute against the non-displayed priced order; receiving at the execution venue each order sent from each of the smart order routers; and executing at least one order received from at least one of the smart order routers against the non-displayed priced order.03-22-2012
20110082784Reprice-to-block order - A reprice-to-block order and related market center and process are disclosed which automatically reprice a posted limit order to the price of a block trade executed at an inferior price on a market away from the market center that posted the limit order.04-07-2011
20120254011OUT OF BAND CREDIT CONTROL - Systems, apparatuses, methods, and computer readable media may be configured for informing a first node of a first fine precision algorithm for calculating a first credit utilization associated with a trading entity, and of whether to use a first coarse precision algorithm instead of the first fine precision algorithm as long as the first credit utilization remains below a first credit threshold, receiving first credit information data from the first node and second credit information data associated with the trading entity from a second node, and determining aggregate credit information data for the trading entity based on the first credit utilization data and the second credit utilization data.10-04-2012
20120078772APPARATUSES, METHODS AND SYSTEMS FOR A DYNAMIC TRANSACTION MANAGEMENT AND CLEARING ENGINE - A Dynamic Transaction Management and Clearing Engine that transforms various data inputs into transaction processing outputs. Contract purchase details, including position volume and purchase volume, for a plurality of contract purchases, each contract having a specified term and trading on an exchange, may be recorded. Short position delivery intents may be received from exchange members having short positions. An instrument nomination specifying a financial instrument to be delivered by a respective associated exchange member may be received for each short position delivery intent. Received short position delivery intents may be aggregated, and a pool of long positions that will take delivery of short positions associated with the aggregated short position delivery intents may be determined. A delivered positions record comprising details for the short positions associated with the aggregated short position delivery intents and the pool of long positions that will take delivery may be generated.03-29-2012
20120158571METHOD AND SYSTEM FOR THE INTEGRATION OF FIXED INCOME FINANCIAL INSTRUMENTS - An electronic trading platform for cash and cash futures (options) is provided in which the cash and cash futures (options) markets are combined together in a single platform. The cash and cash futures (options) markets can be traded on the same screen. The electronic trading platform also brings the cash futures (options) in line with the cash markets. In another aspect, the electronic trading platform for cash and cash futures (options) enables the automatic matching of bids and offers. In another aspect, an OTC cash future (option) can be provided.06-21-2012
20120158570System, Method, And Program Product For Foreign Currency Travel Account - Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.06-21-2012
20110066545AGED TRANSACTIONS IN A TRADING SYSTEM - A method and system for aging orders, increasing securities market liquidity.03-17-2011
20110066539Method and System For Enhancing The Efficiency Of A Digitally Communicated Data Exchange - The present invention relates to a method for enhancing the efficiency of digitally communicated data exchanges and to a computer system that implements such a method. The invention particularly concerns the use of adaptive custom compression techniques, binary integers (“bits”), massively parallel processing, database optimization techniques and/or calculation optimization techniques to achieve such enhanced efficiency. The invention is applicable to any digitally communicated data exchange, but is particularly applicable to exchanges of financial information such as financial market buy/sell orders, market making, etc.03-17-2011
20110066538Accelerated Trade Matching Using Speculative Parallel Processing - An electronic trading system is configured to create speculative orders based on real orders. The speculative order differs from the real order by the price, quantity, or the type of financial instrument. The match engine chooses one or more speculative orders in an attempt to predict the next real order. Even though processing multiple trades at the same time is impossible, the use of speculative orders can permit the match engine to perform the calculations involved with the trade and generate the messages associated with the trade ahead of time. If the prediction was correct and the next order received by the match engine corresponds to one of the speculative orders, some of the matching activity has already been performed. This in effect, allows the match engine to process trades more efficiently and increases the total trading volume that can be handled by the electronic trading system.03-17-2011
20110066537IMPLIED VOLUME ANALYZER - A volume analyzer is provided. The volume analyzer includes an input, a processor, and an output. The input is operable to receive market data and a calculation policy. The processor is coupled with the input. The processor is operable to identify an available implied pattern based on the market data and the calculation policy. The available implied pattern has not been calculated by a match engine. The output is coupled with the processor. The processor is operable to provide the available implied pattern to the output.03-17-2011
20110066536RATIO SPREADS FOR CONTRACTS OF DIFFERENT SIZES IN IMPLIED MARKET TRADING - A method for matching orders is provided. The method includes receiving a first order for a product, the first order specifying a first volume, receiving a second order for the product, the second order specifying a second volume, wherein the first volume is different than the second volume, generating an implied order based on a ratio spread defined between the first order and the second order, and matching a third order with the implied order.03-17-2011
20110066544SYSTEMS AND METHODS FOR PROVIDING INVESTMENT OPPORTUNITIES - The invention relates to methods and systems for providing investment competitions. In one aspect, trading algorithms that automatically generate trading instructions in response to market data are developed by and received from a distributed plurality of independent trading algorithm developers. The algorithms are periodically executed against market data and generate trading instructions, which, based on an association of investment accounts with the trading algorithms, initiate correlative trades in the investments accounts.03-17-2011
20110066535CREDIT DEFAULT SWAP CLEARING - An electronic trading system is configured to trade credit default swap (CDS) futures contracts on an open exchange. The CDS futures contract allows the buyer and seller isolate and trade the credit risk of a third party. The third pay may be a corporation, sovereign government, or any entity that issues bonds or notes. The CDS futures contract seller effectively pays the premium over time in increments determined by market rates and through the natural operation of the open market. The CDS futures contract buyer makes a contingency payment if the CDS futures contract goes in-the-money (ITM). Both sides of the contract are guaranteed by the exchange as a counterparty.03-17-2011
20110066543SYSTEMS AND METHODS FOR LINKING ORDERS IN ELECTRONIC TRADING SYSTEMS - Systems and methods for linking orders in electronic trading systems are provided. These systems and methods enable a trader to select two or more items that are to be linked and specify linking parameters for those items. Any desired set of items may be linked, and the linking parameters may include price adjustments, order sequencing instructions, automatic/manual execution controls, execution delays commands, and update frequency limits. Upon detecting a bid or offer for a linked item, the systems and methods may then determine a size and a price for each linked item based upon the size and the price of the bid or offer for the first linked item. In this way, the sizes and the prices for the other linked items may be propagated from the size and the price for the first item. Once the size and the price for each item is determined, the systems and methods may submit orders for the items in accordance with the linking parameters. In the case where orders for linked items may only be submitted in designated lot sizes, the systems and methods may round the sizes of the orders to the designated lot sizes, and then submit remainder orders to make up for the rounding.03-17-2011
20110066541Opening Cross in Electronic Market - A method, executed in a computer system, for opening an electronic market for trading of a security is described. The method includes receiving by the computer system eligible orders and quotes for the security traded in the electronic market and disseminating an order imbalance indicator indicative of predicted trading characteristics of the security at the open of trading. The method also includes determining by the computer system a price or prices at which the maximum shares would be executed and determining which price would minimize any imbalance of eligible orders and executing at least some of the eligible orders at the determined opening price.03-17-2011
20110066540Methods, Software, and Systems for Over-the-Counter Trading - Methods, software, and hardware are disclosed for providing verified real time price quotes in an over-the-counter financial market. Systems are described that can comprise methods, software, and/or hardware to provide verified real time price information for securities traded over-the-counter. Verification methods of the invention include identifying suspect source data, wherein the suspect source data includes information about the price of a security, verifying the suspect source data, and displaying to a user a verified price quote of a security traded in an over-the-counter market to a user. The verification methods of the invention include using hash functions and hash tables to process suspect source data, wherein the hashing allows for confidential processing while at the same time maintaining the ability to match a price quote to the source of the price quote.03-17-2011
20110106688Systems And Methods Of Conducting Financial Transactions - Systems and methods of conducting financial transactions are disclosed. For example, one disclosed method includes receiving a first price on a computer from a provider, the first price associated with an available volume of a financial instrument; associating the price with the provider in a computerized database of a plurality of providers; identifying a plurality of user-preferred providers in the computerized database associated with the first price; aggregating the available volume of the financial instrument offered for sale or required for purchase by the plurality of user-preferred providers on the computer; and causing the aggregated volume of the financial instrument to be displayed on a display in communication with the computer.05-05-2011
20110106687Method for Receiving Bids on an Energy-Savings and Energy Supply Portfolio - A computer-implemented method for determining an optimal award schedule for satisfaction of energy efficiency and energy supply requirements for a portfolio of one or more buildings. A first auction is conducted so as to receive over a computer network, from one or more prospective efficiency suppliers, a plurality of first bids for the provision of energy efficiency, each such first bid specifying an amount of energy saved and a cost. A computer is used to determine a schedule of remaining portfolio energy supply requirements that would remain after the provision of energy efficiency from at least a plurality of the first bids. A second auction is then run so as to receive over the computer network, from one or more prospective energy suppliers, one or more second bids for a plurality of the remaining portfolio energy supply requirements, each such second bid specifying a cost. A computer is then used to determine the lowest cost combination of a first bid and a second bid that satisfies the portfolio energy requirement.05-05-2011
20110106686MANAGING QUOTES AT A TRADE CONSOLE - Multiple financial product quotes for a particular product are aggregated into a product unit display, providing for user configuration related to a display of the quotes. A first sort attribute and a second sort attribute are selected or configured to provide the user with a display that includes the financial product quotes in groupings according to the first sort attribute and in ordered lists according to the second sort attribute. When a financial product quote is received, the quote is grouped with other financial product quotes for the particular product according to a first sort attribute. Each grouping is then ordered according to a second sort attribute to provide the desired product unit display. Various sources may provide the quotes, and extra information to enrich the quotes may be provided. Various indicators may be used to highlight or emphasize certain types of information in the product unit display.05-05-2011
20110106685ISSUER-CONTROLLED MARKET PLATFORM AND SYSTEM FOR RESTRICTED HOLDINGS AND TRANSACTION MANAGEMENT - An online environment configured to manage restricted holdings issued by an issuer and restrict access to a membership authorized by the first issuer. Through this online environment, an issuer such as a private company can organize a controlled private marketplace environment to manage trading, tracking and administration of securities and other financial instruments held in the private company by shareholders and other investors and financing sources.05-05-2011
20110106684CONTROLLING PRICE CASCADE MOVEMENTS IN AN ELECTRONIC TRADING SYSTEM - A disclosed system, method and computer readable storage medium includes mechanism for controlling cascade price movements in an electronic trading system. Price limits control the prices at which traders can place orders. An upper price limit prevents traders from placing orders above the upper limit and a lower price limit prevents traders from placing orders below the lower limit. The gap between the upper limit and the indicative market price as well as the gap between lower limit and the indicative market price is controlled so as to cause a breaking effect on very rapidly changing market price.05-05-2011
20110106683Method and system for online sales and purchases - Internet-based commercial network connects multiple qualified participant buyers and sellers. Items are made available for defined periods of time, referred to as an event (05-05-2011
20100094747Object Oriented System For Managing Complex Financial Instruments - Object oriented design strategies and patterns are applied to financial data processing systems for processing and modeling of financial products (also referred to as financial instruments) with an emphasis being on derivative products. The system employs valuation independent, well-defined financial components (also referred to as financial events) that can be combined to build new financial structures. A general purpose software model is provided for representing the structure and characteristics of these products. A declarative specification language is provided to describe financial instruments in a consistent manner that lends itself to processing in such an object oriented system. A general traversal process is provided that can be applied to the macro structure of a financial instrument to implement various functions that produce results based on such information, such as the stream of financial events associated with the instrument, or the pricing or valuation of the instrument. Techniques including double dispatch and other mechanisms are further provided to provide flexible means of associating the appropriate processing methods with the diverse range of instrument characteristics that are encountered in a typical financial institution's course of business.04-15-2010
20100094745COMPUTERIZED METHOD AND SYSTEM FOR ACCUMULATION AND DISTRIBUTION OF SECURITIES - Disclosed embodiments include computer-implemented methods and systems that permit a market participant to automatically trade a relatively large order block order to accumulate or distribute securities as multiple, relatively smaller, component orders based on order parameters and subject to conditions for the placing and/or execution of such component orders. The component orders may continue automatically, without the need for further intervention from the market participant, until the total quantity specified by the market participant is accumulated or distributed.04-15-2010
20100094744CONTRACTS EXCHANGE SYSTEM - A contracts exchange system includes a liquid contracts exchange, traders trading on the exchange, a securities exchange listing shares of the trader, thereby enabling access to the capital markets, and a surety guaranteeing obligations of the trader. Methods are provided for transferring risk to the capital markets, for operating a liquid contracts exchange, for paying obligations under an exchange traded contract, for calculating sureties, for auditing traders, detecting errors, mistakes or fraud in a trader's financial statements, for assuring compliance by a trader, for estimating a franchise value of a trader, for making a contract tradable on an exchange, and for managing traders in the contract exchange system.04-15-2010
20090106140GLOBAL FIDUCIARY-BASED FINANCIAL SYSTEM FOR YIELD & INTEREST RATE ARBITRAGE - A supply-and-demand-driven, bankless, interest-rate and yield-setting mechanism for a fiduciary-based financial system that includes parties who want to trade cash and assets as a way of originating arbitrage transactions for the purpose of making money, includes an interest-rate and yield-setting mechanism constructed to provide the parties with the rates and yields necessary to cooperatively mine arbitrage opportunities and, in turn, make money. The mechanism is constructed to operate according to a market-driven, rate-setting process that establishes interest rates without the participation of banks, and may be constructed for a global fiduciary-based financial system to operate in parallel with the global banking system. Many system and method embodiments are proposed, including an automated arbitrage trading-platform system, and a method of providing an alternative international fiduciary financial system that manages investments and risks associated with the transfer of funds between different parties, while enabling non-banking entities to provide traditional banking services without violating national and international banking laws.04-23-2009
20120084195MULTIPLE QUOTE RISK MANAGEMENT - The disclosed systems and methods relate to allowing trading of over the counter (“OTC”) foreign exchange (“FX”) contracts on a centralized matching and clearing mechanism, such as that of the Chicago Mercantile Exchange's (“CME”'s) futures exchange system (the “Exchange”). The disclosed systems and methods allow for anonymous transactions, centralized clearing, efficient settlement and the provision of risk management/credit screening mechanisms to lower risk, reduce transaction costs and improve the liquidity in the FX market place. In particular, the disclosed embodiments increase speed of execution facilitating growing demand for algorithmic trading, increased price transparency, lower cost of trading, customer to customer trading, and automated asset allocations, recurring trades as well as clearing and settlement efficiencies.04-05-2012
20120084194Controlling Markets During a Stop Loss Trigger - A system mitigates market spike effects caused by conditional ordering triggering and election in an automated matching system. The system monitors trading as a result of cascading triggering of conditional orders. When an order is executed beyond a predetermined price threshold, an instrument may be flagged, allowing matching to occur only at or within the predetermined price threshold. Orders within the price threshold are matched at the price threshold against orders beyond it, dampening any instantaneous damaging effects of the price spike. The system may adjust the price threshold when market appropriate, allowing the order flow to bring the market back to whatever is the true price level. The system mitigates purely conditional order cascade driven price fluctuations, but allows the market to continuously trade in controlled price and time intervals ensuring that true market moves can still occur without price control mechanisms hindering trade matching and true price discovery.04-05-2012
20120084193SYSTEMS AND METHODS FOR MANAGING GLOBAL WARMING - A closed end financial instrument for the monetization of greenhouse gases is disclosed. The closed end security has unique features providing for the securitization of greenhouse gas reductions (e.g., avoidance, sequestration, transformation) on global and sub-global scales. A universal carbon index based on the computed value for metric tons fossil fuel derived CO04-05-2012
20120084192System and Method for Coordinated Sales and Implementation of Financial Products - Systems and methods for the coordinated sales and implementation of financial products are disclosed. In accordance with embodiments of the present disclosure, an apparatus may include a network interface and a processor coupled to the network interface. The network interface may be configured to receive a request for a client's purchase of a financial product, the request including client information. The processor may be configured to execute logic to (i) generate implementation documents based at least on the client information, the implementation documents comprising documents to be completed as a prerequisite to issuance of the financial product; (ii) schedule a follow-up meeting relating to purchase of the financial product based at least on the client information; and (iii) contemporaneously electronically display implementation documents to a client and an implementation advisor to facilitate the implementation advisor's assistance to the client in completing the implementation documents.04-05-2012
20090132411Methods and systems for providing a constant maturity commodity index - Methods and systems provide a commodity index for investing. In one implementation, a method selects a commodity component for inclusion in the commodity index and calculates a target weight of the commodity component. The method further selects a time interval for maturity of the commodity component to be fixed at from a current date. Financial instruments may be purchased corresponding to the commodity component.05-21-2009
20090132412Price improvement crossing system - A method provided for matching a buy order having a buy order price and a sell order having a sell order price that includes the step of determining if the buy order price is not less than the sell order price. Next, an NBBO price range is identified and it is determined whether the buy order price and the sell order price are within the NBBO range. A midpoint between the buy order price and the sell order price is then calculated. Finally, the buy order and the sell order is matched at the midpoint if the buy order price is not less than the sell order price and the buy order price and the sell order price are within the NBBO range.05-21-2009
20090132410Method and Apparatus for Prime Brokering Financial Transactions - Method and apparatus for managing financial transactions for multiple counterparties that allows traders, market makers, dealers, and prime brokers to negotiate with multiple liquidity providers simultaneously, and to receive and respond to transaction processing directives and settlement instructions in real time. The invention, which may be accessed over an interconnected data communications network, such as the Internet, using a standard Web browser, as well as via a proprietary user interface, automatically provides customers, traders, executing banks, funding banks, prime brokers and liquidity providers with up-to-date settlement and allocation details for previously-executed financial transactions as they are received.05-21-2009
20090132409TRADING SYSTEM PRODUCTS AND PROCESSES - A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described.05-21-2009
20090132408Auction for financially settled contracts - Various embodiments show a system for conducting an auction for a plurality of financially settled contracts: The system may comprise at least one processor. The at least one processor may be programmed to receive a plurality of first participant bids from a first participant and a plurality of second participant bids from a second participant. The at least one processor may also be programmed to match a batch of bids to create a plurality of awarded bids. The contracts may include, for example, an oil contract, a coal contract, a natural gas contract, an electricity contract, a weather contract, a weather-related events contract, a commodities contract, location specific service contracts (e.g., passenger contract and/or freight contracts).05-21-2009
20120317011Generating Market Information Based On Causally Linked Events - Certain embodiments provide systems, apparatus, and methods to analyze incoming data messages and create market information constructs. An example method includes receiving a data message including an instruction to initiate a market event. The example method includes evaluating the instruction to determine whether it is associated with two or more causally linked market events. The example method also includes classifying the instruction based on the evaluating as part of a sequence of causally linked market events or as a single market event. The example method includes queuing the sequence of causally linked market events. The example method further includes detecting an end of the sequence of causally linked market events. The example method includes constructing a logically reduced market data message construct descriptive of the one or more market events represented by the queued sequence of causally linked events.12-13-2012
20120317010SYSTEMS AND METHODS FOR ROUTING TRADING ORDERS - Systems and methods are provided for routing trading orders. The system determines that a first trading entity disclosed to the trading platform a reserve quantity of a first trading order received from the first entity. The system determines that a second trading entity did not disclose a reserve quantity of a second trading order received from the second trading entity. The system receives a third trading order. Based on these determinations, the system preferences the first trading entity over the second trading entity in the routing of trading orders, e.g., by routing the third trading order to the first trading entity.12-13-2012
20120317012Methods And Apparatus For Optimizing The Distribution Of Trading Executions - The present invention relates to electronic trading of securities. In some embodiments, the present invention relates to methods and apparatus for optimizing the distribution of trading executions in an investor's accounts. Pursuant to some embodiments, as integer allocation algorithm is provided.12-13-2012
20120084190Systems and Methods for Using a Stacker Order in an Electronic Trading Environment - A stacker order type is provided for a spread trading strategy. According to an example embodiment, when a stacker order is enter to buy or sell a spread at a desired spread price, a trading tool dynamically determines a plurality of desired spread prices at which to work the spread. To work the multiple desired spread prices, the trading tool may then enter a quoting order for each desired spread price. As leaned on market prices change, one or more of the quoting orders may be re-assigned between the desired spread prices to minimize re-quoting.04-05-2012
20110112953SYSTEM FOR CONTINUOUSLY OFFERED GUARANTEED FUND HAVING DYNAMICALLY ADJUSTED GUARANTEE LEVEL AND FULL AND PERMANENT ALLOCATION TO RISKY MARKET INVESTMENTS - A system has a guarantee valuation engine that configures a processor with code and enables a continuously offered fund to give effect to a guaranteed return while being always fully invested in traditional assets that correlate to a benchmark. In part, the system has a guarantee that is re-priced on a daily basis with that repricing being included in the reported NAV of the fund. The system stores a high-watermark value of a closing price of a share and uses the valuation engine to determine whether the closing price of a share as of a current date is higher than the high-watermark value. In that event, the guaranteed return is reset to a higher guaranteed return and the database is updated to store the closing price as of the current date as the high-watermark value.05-12-2011
20120221462METHOD AND SYSTEM FOR TRADING - An instrument is traded in an automated exchange system. A first order for the instrument on a first side of a market and a second order for the instrument on a second side of the market are received. The first and second orders are evaluated regarding the possibility for a match between the first and the second orders. If such a match is possible, a preliminary trade is created using the first and the second orders. A third order for the instrument on the first side of the market is received and compared with the first order. If the third order is better than the first order, then the preliminary trade is modified. A final trade is created using the orders currently part of the preliminary trade.08-30-2012
20120221461SYSTEM AND METHOD FOR IMPLEMENTING PUSH TECHNOLOGY IN A WIRELESS FINANCIAL TRANSACTION - A method for executing a trade is provided that includes communicating financial information to a handheld device via a network, the financial information being associated with a trade that can be initiated by the handheld device. The handheld device is connected to the network via a Push to Trade™ protocol. The method also includes executing the trade on behalf of the end user.08-30-2012
20120221460METHOD AND SYSTEM FOR FACILITATING SECURED COMMERCIAL TRANSACTIONS THROUGH TRUSTED AGENTS - The present invention discloses a member-based trade management system for facilitating trade among consumers and producers by utilizing an agent service. The system comprises a network-based communications module for storing and providing profile information about consumers, producers, and third-party service providers; a member matching service module for presenting candidates for a transaction group; a member research service module for examining credentials of candidates for the transaction group; a transaction service module for tracking a transaction workflow; a financial service module for ensuring exchange of financial values between consumers and producers; a platform management service module for mediating disputes arising from activities related to the trade transaction; and one transaction service facilitation unit for allowing consumer and producer agents to access data in the trade platform, wherein the customer and producer agents, located in close proximity of the customers and producers, to facilitate the completion of the trade transaction.08-30-2012
20120221459System And Method For Regulating Order Entry In An Electronic Trading Environment - A system and method are provided for defining slop parameters to an individual spread order or a customized group of orders. The system and method may be used to, for example, define inside slop, outside slop, and/or adjustable range parameters to one or more orders. The inside slop, outside slop, and/or adjustable range parameters may be input by a trader, and, among other things, allow a trader to prioritize orders, set parameters so that some orders are re-priced more aggressively than other spread orders. Alternatively, slop parameters associated with a spread order may also apply more restrictive slop parameters to orders within the same adjustable range. Slop parameters associated with a spread order can also be configured and modified by a trader based on the trader's preferences. Other features and advantages are described herein.08-30-2012
20120221458APPARATUSES, METHODS AND SYSTEMS FOR A LOCKED-IN TRADE FACILITATION ENGINE - The APPARATUSES, METHODS AND SYSTEMS FOR A LOCKED-IN TRADE FACILITATION ENGINE (“LITF ENGINE”) provides and facilitates delivery of open futures positions, upon or before expiry, into financial instruments, such as currency-denominated fixed income market positions. The LITF ENGINE facilitates cash trade transactions produced upon expiration of currency-denominated interest rate and fixed income futures contracts such as U.S. Treasury futures. In one embodiment, the LITF ENGINE provides a delivery process for U.S. Treasury futures, where contracts that remain open after the close of trading on the last trading day of the delivery month may be automatically submitted as locked-in trades in the underlying U.S. Treasury securities eligible for settlement on a delivery vs. payment (DVP) basis on the next business day.08-30-2012
20120221457Computerized Method and System for Trading Credit Default Swap Combinations - A computerized trading system comprises a multi-instrument trading platform including a matching engine and a price feed. The matching engine trades credit default swaps as well as the reference instruments from which they are derived. A price feed generates a spot reference price for a leg of a CDS combination such as a roll or a tailor made switch. The price feed receives indicative pricing data from an external pricing source and uses this data to generate the spot reference price together with last trade data and best bid and best offer data for the reference instrument provided by the matching engine.08-30-2012
20120221455Complex Order Generation for Trading Financial Instruments Using Order Template Method - The present invention discloses a system for generating trading orders in a simple way and without the need of programming. The system comprises a user input module adapted to receive user input for an order strategy; a trigger generation module adapted to generate trigger signals and an order management module for generating trading orders based on the trigger signals and the user input. The user input module comprises a user interface using an order template provided in a table format to allow a user to input a trigger for generating the trading order. The system supports automatic mode and manual mode which are switchable by the user.08-30-2012
20120221456SYSTEM AND METHODS FOR FACILITATING OPTIONS AND/OR FUTURES - Some embodiments may include allowing users to define and/or trade in binary options and/or other financial instruments. Various methods and apparatus are described.08-30-2012
20120130880Systems and Methods for Product-Level and Contract-Level Risk Computations and Management - Various systems and methods are described herein for product-level and contract-level risk checks. The product-level and contract-level risk checks are used to either allow or prevent a trading strategy to proceed. When a trading strategy is initiated, quoting and hedge orders to be entered in relation to the trading strategy are grouped based on their association with the same contract or the same product. Then, a long position and a short position are determined for each quoting order on order quantities of a quoting order and each hedge order that is triggered by the quoting order at the product level and the contract level. The long or short position that are contributed by the hedge orders of each quoting order may then be offset by the quantity of the quoting order in the same product or the same contract. The computed values are then used to determine the worst case net product position and/or worst case contract position for the trading strategy.05-24-2012
20120166327DATA CAPTURE AND REAL TIME RISK CONTROLS FOR ELECTRONIC MARKETS - A distributed, transparent, in-line risk management and traffic capture system that solves securities trading compliance problems. A transparent cut-through sniffer device is coupled with a real-time packet processor to police traffic flows between trading clients06-28-2012
20120166330SYSTEM AND METHOD FOR PERFORMING AUTOMATIC SPREAD TRADING - The present embodiments are provided to facilitate the automatic trading of spreads in a fast and accurate manner. One or more market data feeds that contain market information for tradeable objects are received at an exchange. A spread data feed is generated in response to the market data feeds and from one or more spread setting parameters, which can be entered by a user. The spread data feed is preferably displayed in a spread window as bid and ask quantities associated with an axis or scale of prices. The user can enter orders in the spread window and the legs will be automatically worked to achieve, or attempt to achieve, the spread. In addition, other tools disclosed herein may be utilized to assist the user in making such trades.06-28-2012
20120166329SYSTEM AND METHOD FOR CREATING A MARKET MAP IN AN ELECTRONIC TRADING ENVIRONMENT - A market map interface displays market information and trader-related information associated with at least two tradable objects. In one embodiment, the at least two graphical interfaces may be linked, and a user may define one or more adjustment parameters to be used to adjust the view of information being displayed via the linked graphical interfaces. For instance, a user may initiate repositioning of one of the linked graphical interfaces, thus, effectively, causing other linked graphical interfaces to be repositioned according to the defined adjustment parameters.06-28-2012
20120166328SYSTEM AND METHOD FOR MANAGING RETURN OF COLLATERAL IN A SECURED TRANSACTION - In various embodiments, a system and method manages custody and mitigates counterparty credit risk exposure associated with a trade of a financial instrument. A custodian computer system receives an initial margin payment from a pledgor and electronically posts initial margin or collateral payment in a custody account record maintained in the database. A control agreement between the pledgor and a secured party includes agreement details stored in the database. The dual-custody control agreement gives control of the custody account to the pledgor if the secured party defaults on trade obligations, and gives control of the custody account to the secured party if the pledgor defaults on trade obligations based upon default rules. In the event of default, a waiting period is imposed in accordance with the control agreement before the margin payment/collateral is returned to the non-defaulting party and reports are provided to parties involved with the financial transaction.06-28-2012
20120166326METHOD AND SYSTEM FOR REBALANCING INVESTMENT VEHICLES - A computer-implemented method is provided for rebalancing an exchange-traded fund. The method is performed by a computer, and includes setting a daily target return for the exchange-traded fund based on a target base index. The method also includes monitoring an actual return of the exchange-traded fund over a time period. The method also includes setting a performance band for rebalancing the exchange-traded fund. The performance band is set based on the daily target return and a volatility of the target base index. The method further includes generating signals to rebalance the exchange-traded fund based on the performance band and the actual return.06-28-2012
20120130882METHODS AND SYSTEMS FOR CREATING AND TRADING STRIPS OF FINANCIAL PRODUCTS - The present invention includes a method comprising receiving a first electronic BUY STRIP order; receiving a second electronic SELL STRIP order; matching the first STRIP order with the second STRIP order, wherein the first STRIP order is a contra order to the second STRIP order; executing the matched first and second STRIP orders; generating a first plurality of tradable component financial product trades based on the executed first STRIP order; generating a second plurality of tradable component financial product trades based on the executed second STRIP order; matching the first plurality of tradable component financial product trades with the second plurality of tradable component financial product trades, wherein the first plurality of tradable component financial product trades are contra trades to the second plurality of tradable component financial product trades; and executing the matched first and second plurality of tradable component financial product trades.05-24-2012
20120130881Social Network for Traders of Stocks and Other Securities - A database may be used to aggregate indications of user intent to purchase or sell financial securities. This database may be accessed using mobile devices or client computers to thereby input user intent to purchase or sell financial securities. These inputs may be aggregated into the database. Users may be provided with the opportunity to purchase or sell in conformity with his or her intent indications. The intent indications may be verified by confirming that the user actually purchases or sells the financial security in conformity with his or her intent indication. This aggregate data may be accessed by users in order to query the user intent to purchase or sell securities ahead of their own actual purchases or sales. The data may then be reviewed by other users to aid in decisions whether to purchase or sell a financial security.05-24-2012
20120130884EMBEDDED HARDWARE BASED SYSTEM WHICH PROVIDES REAL-TIME PRE-TRADE RISK ASSESSMENTS FOR MULTIPLE PARTIES AND METHOD THEREOF - A risk assessment system and method are provided that may be implemented as an embedded hardware based system and method that provide real-time pre-trade risk assessments for multiple parties, in addition to real-time market data and trading connectivity to a variety of liquidity venues. The liquidity venues may include regulated exchanges, ECNs and other financial institutions listing securities, options, futures, commodities, foreign exchange and other financial instruments.05-24-2012
20120130883POSITION-KEEPING IN A MULTI-MARKET ENVIRONMENT - A computerized method of implementing position-keeping in a multi-market environment is described herein. The method comprises identifying a plurality of instrument transaction parameters based on a universal instrument ID of at least one instrument. The instrument transaction parameters comprise a market level identifier and a register level identifier. Further, at least one consolidation line is generated for the instrument based on at least the plurality of instrument transaction parameters, wherein the position-keeping is achieved based on the consolidation line.05-24-2012
20100235273USER INTERFACE FOR AN ELECTRONIC TRADING SYSTEM - A user interface for an electronic trading exchange is provided which allows a remote trader to view in real time bid orders, offer orders, and trades for an item, and optionally one or more sources of contextual data. Individual traders place orders on remote client terminals, and this information is routed to a transaction server. The transaction server receives order information from the remote terminals, matches a bid for an item to an offer for an item responsive to the bid corresponding with the offer, and communicates outstanding bid and offer information, and additional information (such as trades and contextual data) back to the client terminals. Each client terminal displays all of the outstanding bids and offers for an item, allowing the trader to view trends in orders for an item. A priority view is provided in which orders are displayed as tokens at locations corresponding to the values of the orders. The size of the tokens reflects the quantity of the orders. An alternate view positions order icons at a location which reflects the value and quantity of the order. Additionally, contextual data for the item is also displayed to allow the trader to consider as much information as possible while making transaction decisions. A pit panel view is also provided in which traders connected to the pit are represented by icons, and are displayed corresponding to an activity level of the trader.09-16-2010
20100332380Trading Tools for Electronic Trading - Tools for trading and monitoring a commodity on an electronic exchange using a graphical user interface and a user input device. The tools will aid the trader in determining the status, trends in the market, and the trader's position in the market.12-30-2010
20100332369Processing composite trading orders - An apparatus for processing a composite trading order comprises an interface operable to display a composite value representing a weighted quantity of a plurality of trading products. The apparatus further comprises a processor operable to receive at least one input representing a composite trading order, wherein the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity. The at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order.12-30-2010
20120215674System and Method for Quick Quote Configuration - A method and system are described for providing a trader with the ability to quickly configure the quoting side of a trading tool, without experiencing the normal delays associated with conventional methods of quoting. In spread trading, an automated spread trading tool may automatically work an order to buy or sell a tradeable object. A user may configure the trading tool to work an order in a certain tradeable object first. The system allows the user to essentially on-the-fly configure the trading tool to work a second order in another tradeable object, and in response to the change, the system can take specific actions such as deleting the order in the first tradeable object and automatically entering the second order in the other tradeable object. This allows the trader to trade quickly and efficiently.08-23-2012
20120215679Visual Representation and Configuration of Trading Strategies - A system and method are provided to visually represent and configure trading strategies used in electronic trading. The system and method may be used to visually represent, among other things, an acceptable range of prices for a trading strategy in relation to a graphical user interface. The acceptable range of prices may be input by a trader to limit when one or more orders are moved from one price to another. The acceptable range of prices can be displayed on a graphical user interface using visual indicators. Using the visual indicators, the acceptable range of prices can also be configured and modified by a trader based on the trader's preferences. Other features and advantages are described herein.08-23-2012
20120215677SYSTEM AND METHOD FOR ESTIMATING AND OPTIMIZING TRANSACTION COSTS - A method and system for forecasting the transaction cost of a portfolio trade execution that may be applied to any given trade strategy or an optimal trade strategy that minimizes transaction costs. In preferred embodiments, a server comprises one or more computers that act as an automated forecaster whereby it accepts user-defined input variables from customers and generates a transaction cost estimation report based on those variables. The server is programmed with specific transaction cost estimation and optimization algorithms that model the transaction costs of a specific trade execution based on the user's trading profile and market variables.08-23-2012
20120215678SYSTEM AND METHOD FOR PHYSICALS COMMODITY TRADING - A method and system for an electronic commodities trading marketplace along with ancillary tools provide an electronic trading center for world market commodity importers, exporters, and the intermediaries and processors between them. This trading center is offered through its website centered around a 24-hour exchange that provides trading markets for commodities such as coffee, sugar, cocoa and cotton. The scalable system provides aggregated third party services linked to both front and back office operations. These services can include items such as live futures quotes and real-time news, futures brokerage, banking and finance links and resources, and a suite of applications tailored to members' specific risk-management and end-to-end contract execution needs. The system also provides access to shipping related services such as freight brokerage, direct booking for liner transport, load and discharge supervision and laboratory testing.08-23-2012
20120215675SYSTEM AND METHOD FOR PRICE-BASED ANNOTATIONS IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method for generating and displaying annotations in relation to one or more prices corresponding to trader-related or market related events are described. In one embodiment, a trader may enter an annotation to be displayed in relation to one or more price levels. Alternatively, a trader may configure a dynamic annotation to be dynamically displayed in relation to some price level(s) upon detecting a predetermined event related to one or more tradeable objects. Also, a trader may configure one or more alarms to be displayed or played in combination with the annotations.08-23-2012
20120215672Apparatus and Method for Commodity Trading with Automatic Odd Lot Hedging - Apparatus and method for trading commodities with automatic hedging for odd lot offers. The apparatus automatically accepts odd lot offers on behalf of buyers and aggregates them with other odd lot offers of the same commodity symbol until there are enough bushels to reach a predetermined threshold, or “tipping point,” which causes the system to automatically calculate the optimum number of full lot futures contracts to sell at the market price in order to offset risk associated with accepting the odd lot offers, to automatically secure the optimum number of full lot futures contracts. The system reduces or eliminates situations where no transactions are executed due to the market's failure to reach a certain price, and reduces the buyers' exposure to slippage on accumulated odd lots.08-23-2012
20100205086ANONYMOUS BLOCK TRADE MATCHING SYSTEM - Disclosed is an anonymous block trade matching system which allows users that wish to cross large blocks of stock to submit orders, or indications of interest, with the option of utilizing market peg benchmarks or future price cross benchmarks. Orders submitted may be subject to minimum thresholds, including a threshold requiring that the order represent ‘X’ % of average daily volume. After submission of a firm order in the system, an alert is generated to provide the order data to other users with potential to cross the order. Visibility of order data by other users may be restricted based upon a data interaction group to which the ordering user or the other user belongs. The system may provide users viewing order data with a capability of negotiating with the submitting user via a restricted two-way messaging interface. Flat rate and rebate/fee cost models may be utilized as a means for charging a user for access to the system.08-12-2010
20100205085MLP Financing System - The MLP Financing System extends the properties of shares in a publicly traded entity that does not generate UBITs to create a new asset class that permits the underlying assets to be specifically structured for financing. MLP Financing System requires a minimum of three markets entering into transactions involving a company, a publicly traded entity, and a third entity in the financial industry. Each market establishes an asset value, price, yield, and risk. Asset price differentials between markets identify arbitrage opportunities. The market asset value, price, yield, risk, and financial constraints of entities operating in those markets provide the initial transaction specifications between company-MLP, financier-MLP, and company-financier.08-12-2010
20100205084Computer system and method for networked interchange of data and information for members of the real estate financial and related transactional services industry - An Interchange Party Computer System (“IPCS”) comprising: a plurality of units of allocated resources, configured for a lender party, broker party, transaction party and/or investor party, each unit of allocated resources including one or more administrator user interfaces that allow a participating party to manage its allocated resources and define which of its users and which other participating parties may access its allocated resources and use elements thereof, wherein at least one of the allocated resources include database allocated resources that are managed by the participating party assigned the resources, the allocated resources for the database being accessible and usable by a participating party on terms defined by the participating party responsible for managing the database allocated resources wherein at least one of the allocated resources include at one or more modules selected from the group of: a Rate and Loan Program Module that includes means to define loan programs or search defined loan programs in a database, an Automated Underwriting Module, a Mortgage Pools Module; a File Status and Transaction Party Module, which includes means to do two or more of: assign tasks, present task status, control viewing of task status, assign viewing privileges, monitor satisfaction of lender conditions, and upload loan documentation that are managed by the participating party assigned the resources; the allocated resources for the selected modules being accessible and usable by a participating party on terms defined by the participating party responsible for managing the selected modules allocated resources.08-12-2010
20100205083Radar Display of Trader Requirements - A system for providing an operator interface comprises a memory and a processor. The processor generates a radar display comprising trader requirements indicia that correspond to trader designated parameters. The processor receives market data and determines a probability of the market data satisfying a trader designated requirement. A market data circle corresponding to each trader parameter is displayed on the interface at a distance from the trader requirements indicia that indicates the probability.08-12-2010
20100205082INFORMATION PROCESSING SYSTEM ENABLING COUNTERMEASURE AGAINST GLOBAL WARMING TO BE DISSEMINATED MORE EXTENSIVELY - An information processing system according to the present invention comprises a plurality of measuring instruments; and a summary server connected to the plurality of measuring instruments via a network. Each of the measuring instruments comprises a detector measuring the amount of energy usage, and an instrument controller generating an individual data piece including information on the amount of energy usage or information on carbon dioxide emission. The summary server comprises a storage storing a reference amount of usage on each of individual data pieces, and a controller which, when the individual data piece is received from the measuring instrument, calculates the amount of carbon dioxide that has been reduced as a surplus value on the basis of both the amount of carbon dioxide emission or the amounts of emission of the received individual data pieces and the reference amounts of usage of the plurality of individual data pieces.08-12-2010
20100205080METHOD AND SYSTEM FOR CONDUCTING COMPUTER-ASSISTED TRANSACTIONS - A system and method may include a central security transaction-assisting machine receiving from at least a subset of a plurality of system participants initial orders to buy and sell a security; a processor of the machine matching at least a subset of the initial buy orders to at least a subset of the initial sell orders based at least on quantity; the processor forming an order block of at least a subset of the matched orders; responsive to a threshold volume of matching orders being reached, the central machine broadcasting a cross announcement to each of the plurality of participants, where the cross announcement indicates a beginning of a time window during which further matching orders to buy and sell quantities of the security are presentable for inclusion in the order block; and, at an end of the time window, executing the order block.08-12-2010
20120136773SYSTEM AND METHOD FOR TRADING MULTIPLE TRADEABLE OBJECTS USING A SINGLE TRADING INTERFACE - A system and method are provided for displaying information related to a plurality of tradeable objects using a single graphical interface. One example graphical interface includes at least two screen regions displayed in relation to each other, with each region including a plurality of locations. Each location in the first screen region corresponds to a value along a first value axis, and each location in the second screen region corresponds to a value along a second value axis. The graphical interface also includes a first indicator in the first region and a second indicator in the second region. In response to a repositioning command based on an algorithm, the graphical interface includes a repositioned first value axis and the second value axis, such that the indicators are displayed in new locations determined based on the algorithm.05-31-2012
20120136770Systems and Methods for Using Declining Balance Methodologies To Enhance Clearing of Dividend Futures and Other Instruments - Systems and method are disclosed for quoting, adjusting and settling futures contracts by successively removing the just-realized variables from the quoted futures price to focus the quoted contract value to the remaining unrealized economic variables. Further, such systems and method for quoting, adjusting and settling the futures contracts preserve the underlying economic consideration for the trade when compared with the traditional way of quoting futures based on the same cumulative sum.05-31-2012
20120136772PROGRAMMED TRADING SYSTEM - An Internet based investment account management system that consists of data, a rules database, a business logic manager and user profiles is described. The rules database stores information about system responses to modifications of the data. The user profiles store information concerning the availability of information and displays depending upon the user. Automatic updates to user profiles in response to modifications to the data are performed. The business logic manager can be configured to define whether the trader is authorized to execute a trade and whether sufficient holdings are available at a custodian bank in order to execute trade. A data exchange link may then be used to send data to a broker/dealer system to execute the trade.05-31-2012
20120136771Time Market Grid Interface - A system and method are provided for trading a tradeable object. One example apparatus includes a microprocessor, a graphical user comprising a first screen region having a plurality of locations in the first screen region, each location corresponding to a price level along a first axis and a time along a second axis. The apparatus also comprises a user input device for sending a command to initiate placement of a timed trade order, and an indicator being dynamically displayed in one of the plurality locations of the first screen region and corresponding to the timed order. In one example embodiment, the indicator dynamically moves over time relative to the second axis indicating a time until the order will be automatically sent to a computerized matching process.05-31-2012
20110184850METHODS AND INVESTMENT INSTRUMENTS FOR PERFORMING TAX-DEFERRED REAL ESTATE EXCHANGES - Methods and investment instruments for investing in real estate are described wherein a portfolio of investment real estate is divided into a plurality of tenant-in-common deeds of predetermined denominations, and which are subject to a master agreement and master lease to form “deedshares.” Holders of the deedshares receive a guaranteed income stream from the master lease and yearly depreciation, without having to maintain or manage the real estate. The holders of deedshares are subject, under the master agreement, to a mechanism that enables the master tenant to purchase, or arrange for the purchase of the deedshares at fair market value (or some other calculable value) at the end of a specified term. Because the deedshares qualify as interests in investment real estate, they are eligible for tax-deferred treatment under §1031 of the Internal Revenue Code.07-28-2011
20110184849SYSTEM AND METHOD FOR PRIORITIZED DATA DELIVERY IN AN ELECTRONIC TRADING ENVIRONMENT - A system and method for prioritized data delivery in an electronic trading environment are described herein. According to one example embodiment, by prioritizing the messages associated with a tradeable object, the bandwidth and system resource usage may be optimally reduced, and any loss of priority content in the messages sent between the network device and the client device may be reduced. An example method includes associating different priority levels with messages comprising market data. Messages containing market information related to the inside market may be associated to a higher priority level. Whereas messages containing market information relating to the quantities at prices outside the inside market may be associated with a lower priority level. Based on the priority level associated with a message, a network device may send the message directly to the client device or store the message in a data structure until a pre-defined condition is satisfied.07-28-2011
20110184848Hybrid Exchange And Clearing-Only Market Model - Modifications can be made to the quotation delivery mechanisms, membership structure, and daily settlement procedures, that govern existing electronic derivatives exchanges to create a “hybrid” business model to perfectly mimic and preserve those important elements of the OTC derivatives business model that attract end-users and banks to these markets. Such upgrades to the traditional exchange business model can be generic and can be applied to existing exchange traded products.07-28-2011
20110184847DATA STORAGE AND PROCESSOR FOR STORING AND PROCESSING DATA ASSOCIATED WITH DERIVATIVE CONTRACTS AND TRADES RELATED TO DERIVATIVE CONTRACTS - The description generally describes systems and methods for managing derivative contracts. The system maintains derivative contract states using a set of rules to ensure subsequent post-trade events are applied in the correct order, and without jeopardizing the integrity of the underlying derivative contract. Data about derivative contracts maintained in other environments can be back-loaded into the system to allow all of a user's contracts to be contained within the system, and data associated with the back-loaded contracts can be governed in the same fashion as existing derivative contracts. Payment processing and settlement can be handled automatically by the system. If a derivative contract in the system has an uncertain state, payment processing on the derivative contract can be initiated by either trading counterparty using payment processing logic.07-28-2011
20120221453INTELLIGENT ORDER MATCHING PLATFORM FOR ANONYMOUSLY NEGOTIATING AND TRADING FINANCIAL INSTRUMENTS - This software enables a financial institution acting as a clearing agent to offer a liquidity pool where their clients can anonymously submit orders for a financial instrument. Many financial markets suffer from reduced liquidity, the causes for which include: 1) fragmentation across multiple markets, 2) fragmentation across a large instrument universe and 3) attempting to trade an illiquid instrument. The software has been developed to uniquely improve available liquidity using crossing algorithms that intelligently identify orders for similar instruments as relevant execution opportunities, and applies a quantitative scoring of their propensity to trade on which clients can anonymously negotiate and execute. As crossing algorithms are not constrained by the conventional restriction that orders must be for identical instruments, the system is able to increase liquidity by identifying execution opportunities that existing markets cannot, while employing an anonymous negotiation process that minimizes information leakage to mitigate disruption to market prices.08-30-2012
20100174636METHOD AND SYSTEM OF TRADING A STANDARDIZED CONTRACT - A system, method, and corresponding computer program product facilitates trading of a standardized contract. The terms of the contract may be such that it provides a payout from one party to the other based on the price, yield, level or other measure of an asset, basket, index, financial contract, other financial instrument or some economically significant variable observed at or around two specified times, both such times being after the time that the standardized contract is first available for trading. Alternatively, the terms of the contract may be such that it provides that one party has the right but not the obligation either to purchase or to sell some asset at a price which is determined at a first specified time, such right to be exercised at some time not later than the second specified time, both such times being after the time that the standardized contract is first available for trading. These and other related contracts are described.07-08-2010
20100174635METHOD AND SYSTEM OF TRADING A STANDARDIZED CONTRACT - A system, method, and corresponding computer program product facilitates trading of a standardized contract. The terms of the contract may be such that it provides a payout from one party to the other based on the price, yield, level or other measure of an asset, basket, index, financial contract, other financial instrument or some economically significant variable observed at or around two specified times, both such times being after the time that the standardized contract is first available for trading. Alternatively, the terms of the contract may be such that it provides that one party has the right but not the obligation either to purchase or to sell some asset at a price which is determined at a first specified time, such right to be exercised at some time not later than the second specified time, both such times being after the time that the standardized contract is first available for trading. These and other related contracts are described.07-08-2010
20100174634SYSTEM AND METHOD FOR PROVIDING LATENCY PROTECTION FOR TRADING ORDERS - A system for managing trading orders comprises a memory operable to store an order associated with a first price. The system further comprises a processor communicatively coupled to the memory and operable to identify a latency value. The processor is further operable to receive a counterorder and to identify a potential trade associated with the order and the counterorder, the potential trade based at least in part on the first price. If the latency value satisfies a configurable condition, the processor is further operable to initiate a configurable period of time. If the potential trade is not valid upon expiration of the configurable period, the processor is further operable to prevent the execution of the potential trade.07-08-2010
20100174633Determination of Implied Orders in a Trade Matching System - A computer implemented method for determining implied orders in an electronic trading system is provided. The method comprises receiving a first set of one or more real orders, wherein the orders are not tradable against each other. One or more implied orders are identified within the first set of real orders. Market data corresponding to the implied orders can also be identified. At least one additional order is received and the tradability of the additional order is determined against the real or implied orders within the first set of real orders. A resting set of orders is determined from those real and implied orders within the first set of orders not affected by the tradability of the additional order. Implied orders are determined from within the set of resting orders.07-08-2010
20120173405SYSTEM AND METHOD FOR A TRADING INTERFACE INCORPORATING A CHART - A graphical interface and method are provided for displaying market information corresponding to a tradable object. One graphical interface includes a chart region for displaying historical market data in relation to a first value axis, and a market grid region in alignment with the chart region. The market grid region comprises a plurality of areas for receiving commands from a user input device to send trade orders, and the areas are displayed in relation to a second value axis. A plurality of values displayed along the second value axis is a subset of values displayed in relation to the first value axis, and can be modified to a new plurality of values that corresponds to a new subset of values on the first value axis.07-05-2012
20120173402STORED VALUE EXCHANGE METHOD AND APPARATUS - An apparatus and method for exchanging one form of stored value for another form of value. In one embodiment, a method for exchanging stored value for an alternative form of value comprises receiving registration information from a remote entity, the registration information comprising attributes, such as a desired value provider and remote entity contact information. The registration information is stored in a storage device. Stored value account information is received from a second entity, the stored value account information comprising attributes relating to a stored value owned by the second entity. A processor then determines whether at least some of the attributes of the stored value account information matches at least some of the attributes of the registration information. If a match is found, a notification alert is generated and transmitted to the remote entity.07-05-2012
20110191234Securitization System and Process - A system and process is disclosed for providing a financial product having a return correlated to a benchmark with a reduced tracking error over time.08-04-2011
20120259766System and Method for Chart Pattern Recognition and Analysis in an Electronic Trading Environment - A system and method are provided for chart pattern recognition and analysis. In one embodiment, a graphical interface is provided to enable a trader to select a portion of a chart to be used in the chart pattern analysis. The pattern of the selected portion of the chart could then be used to find one or more similar chart patterns in a user-defined timeframe, such as any future time period or a time period in the past. When a reoccurring chart pattern is found in any future time period, an alert signal can be generated to alert a user of a possibility of the chart pattern reoccurrence. Alternatively, chart pattern matches can be found in a time period in the past, and a set of studies can be applied to the found matches to generate a set of reoccurring indicator values. The reoccurring indicator values can be used in combination with the chart pattern to detect any similar chart patterns in the future.10-11-2012
20100299243SYSTEM AND METHOD FOR ASSIGNING RESPONSIBILITY FOR TRADE ORDER EXECUTION - An embodiment of the present invention provides a system and method for a sponsoring organization to: (1) utilize a rules-based computer system to capture trade orders from sub-advisors (money management firms) in order to implement a pre trade compliance review process, thereby enabling the sponsoring organization to prevent the execution of trade orders by a sub advisor that violates securities laws and/or account restrictions; and (2) determine and assign, based on expected market impact of a trade order to buy or sell securities, whether responsibility (discretion over the decisions related to how, when and with whom a trade order is executed) for executing the trade order is assigned to the money management firm for an investment portfolio or to the sponsoring organization of that portfolio. Trade orders are categorized in real-time as “high touch” (significant effort and market impact) or “low touch” (insignificant effort and market impact).11-25-2010
20100299242System and Method for Displaying Highest and Lowest Traded Price of Tradable Objects - A client terminal displays on a graphical interface a first indicator of a price associated with a lowest traded price of a tradable object during a predetermined period of time, a second indicator of a price associated with a highest traded price of the tradable object during the predetermined period of time, along with at least one quantity indicator associated with at least one order to buy/order the tradable object. The first indicator, the second indicator, and the at least one quantity indicator are displayed in relation to a static axis of price, and the client terminal dynamically updates the first and second indicator to new lowest and highest traded prices based on market updates received from an exchange.11-25-2010
20100299241METHOD AND APPARATUS FOR ON-LINE TRADING DISPLAY - The present method and software provides a display for a trader in tradable instruments that shows the market price and market depth. The display dynamically updates with data received from an electronic exchange and centers on the market price. Upon the trader moving a cursor over a trade entering portion of the screen to make a trade, the price is held stationary and no longer centers on the market price so as to permit the trader to select a price and quantity for trading. The displayed data is still being updated in the stationary screen, however. The trade is made by the trader selecting a price and quantity on the display. Movement of the cursor away from the trade selecting area results in the display again automatically centering on the market price in the dynamic display mode.11-25-2010
20100299240SYSTEMS AND METHODS FOR PROVIDING A PERSONALIZED EXCHANGE MARKET - The present invention relates to systems and methods for providing a personalized exchange market, and more specifically, to systems and methods for establishing personalized pledge agreements for uncertain future events or occurrences. In one embodiment, the invention includes a method including the steps of facilitating a pledge offer via a network, the pledge offer specifying an outcome of an uncertain future occurrence, the uncertain future occurrence being independently definable; facilitating an acceptance of the pledge offer over via the network, the acceptance forming a pledge agreement; determining the outcome; and facilitating performance of the pledge agreement based on the outcome.11-25-2010
20100299239SYSTEMS FOR RISK PORTFOLIO MANAGEMENT - A switch engine module enables anonymous switches between a first trader and a plurality of second traders. The switch engine module receives interest rate risk portfolios from a plurality of traders, and for each prospective trader, provides available switches based on positions in other counterparty portfolios that offset the viewing traders' positions. The offsetting positions are encoded with credit preference information in order to identify eligible trades based on both counterparties credit preferences. The credit preferences of the participating traders can be taken in consideration in making switches.11-25-2010
20100299237SYSTEM AND METHOD FOR DEFEASEMENT OF FUTURE OBLIGATIONS - The disclosed technology provides systems and methods that process and manage education savings plans involving participating institutions, institution trusts, and purchasers. The disclosed technology can communicate with participating institutions to obtain prices for qualified educational services. The disclosed technology can communicate a sale of a fraction (or more) of an educational unit to a purchaser, where the sale price is based on the price for qualified educational services at a particular participating institution. Each educational unit corresponds to a right to receive qualified educational services. The disclosed technology can communicate an instruction to the particular participating institution to transfer a number of cancelable interests to a corresponding institution trust, where the number of cancelable interests corresponds to the number of educational units in the sale. The cancelable interests correspond to an obligation to provide qualified educational services at the particular participating institution. The disclosed technology can store the above information in a database.11-25-2010
20120226598SYSTEM AND METHOD FOR RISK MANAGEMENT - A margin requirement is computed while trading. The margin requirement may be calculated while trading because the preferred system takes into account working orders to generate the margin requirement. The on the fly possibility allows the preferred system to provide pre-trade risk calculations, but can also be used to provide post-trade calculations. A generic spread number and the maximum number of outright positions are determined. Using the spread positions and the maximum number of outright positions, a spread margin and an outright margin are calculated, which when summed provide a total margin requirement. Limits based in part on the total margin requirement may be imposed on one or more traders.09-06-2012
20100049650FACTORING SYSTEM AND METHOD - A computerized system and method for facilitating proposed factoring transactions between a funding source and a client in which the funding source advances funds to the client based on accounts receivable to the client by one or more customers on one or more invoices includes a computer program that receives instructions from a client to submit one or more invoices to a funding source for an advance of funds on accounts receivable on the chosen invoices and that provides access to invoice data to a funding source for determining whether the funding source will advance funds on the chosen invoices.02-25-2010
20100049648TRADING ORDERS WITH DECAYING RESERVES - In various embodiments, an apparatus includes a processor and a memory. The memory is communicatively coupled to the processor. The memory stores software instructions that, when executed by the processor, cause the processor to receive a trading order for a particular quantity of a trading product. The trading order specifies that a first portion of the particular quantity is a displayed quantity and that a second portion of the particular quantity is a reserved quantity. The trading order specifies at least one of a decay rule, a decay interval, a decay rate, decay quantity, and one or more conditions. The software instructions, when executed by the processor, cause the processor to cause the reserved quantity to decay based at least in part on at least one of the decay rule, the decay interval, the decay rate, and the decay quantity, and one or more conditions.02-25-2010
20100049647FINANCIAL SECURITY AND A TRANSACTION METHOD, SYSTEM AND INDEX RELATING TO THE SAME - A tradable security comprising a voting right associated with an underlying financial security and an instrument for permitting at least said voting right to be separated from at least some residual rights in the underlying financial security to create a voting right security wherein the ownership and control of the voting right security is tradable separate from the residual rights in the underlying security to permit a value of said voting right security to be established in an open market. In another aspect the invention is directed to a method of creating such a voting right security. In another aspect the invention is directed to a method of clearing and setting trades of the voting right security. In another aspect the invention is directed to a method of creating an index from the voting right security.02-25-2010
20100049646CONVERTING A TRADE TRANSACTION AGREEMENT INTO ALLOWABLE STRUCTURED PRODUCTS - A trade transaction agreement, defined as a basket of one or more structured products, may be converted into one or more structured products. Trade information that represents the trade transaction agreement may be initially provided or specified in various forms, to subsequently be analyzed to construct the trade transaction agreement into its corresponding structured products. The structured products are suitable for submission to post-trade processing facilities for subsequent processing thereof and are accordingly submitted. The structured products may be submitted to a variety of post-trade processing facilities, or one post-trade processing facility may be utilized.02-25-2010
20080215475EXCLUSIVITY BIDDING FOR MOBILE SPONSORED CONTENT - In embodiments, the present invention provides a method and system for receiving a bid for an exclusive sponsored content item to be presented on a mobile communication facility, the bid including an amount and at least one exclusivity characteristic relating to a mobile subscriber characteristic and matching the at least one exclusivity characteristic with the exclusive sponsored content item based at least in part on a relevancy for presentation to a mobile communication facility.09-04-2008
20120179594CREDIT ALLOCATION IN AN OPEN ORDER MANAGER - The technology described in this application allows a system to manage entities/users and associated Financial Articles of Trade (“FAT”) with different trading systems, institutions and entities. In particular, an Open Order Manager (“OOM”) manages a plurality of users in a user group, and preferably in real-time, monitors FAT transactions initiated and executed by the users. The OOM enables allocation and dynamic reallocation of the FAT amounts between and among “nodes” (e.g., a financial system or financial institution) which can include any subcomponent arrangement that has internal permission privileges which are not shared among other nodes but all of which are under control or ownership of a common party in interest.07-12-2012
20100274706System and Method for Displaying Order Information in Relation to a Derivative of Price - Market data, such as order information, is displayed in relation to a derivative of price. A derivative of price refers to anything that bears some relationship to price, examples of which, include net change, yield, profit and loss, volatility, momentum indicators, and more. According to various aspects of the preferred embodiments, market data is received from one or more electronic exchanges and a value axis is generated based on a user's preferences. Then, market data can be displayed in relation to the value axis to provide a user interface that allows a trader to view the market from a more desirable perspective.10-28-2010
20100274705System and Method for Providing Market Updates in an Electronic Trading Environment - A system and method are provided for modifying how market updates are provided in an electronic trading environment upon detecting one or more triggering events. One example method includes defining an event to be used to trigger modification of how market updates are provided to a client entity, receiving a market update from an electronic exchange, and, when the event is detected, modifying how the market update is provided to the client entity. As an example, the modification of how the market update is provided to the client entity may include providing less data in relation to market updates, and sending the market updates less frequently.10-28-2010
20100274704TRANSACTION MANAGEMENT DEVICE AND READABLE STORAGE MEDIUM - A transaction management device can executed, with a simple procedure, a plurality of if-done orders in parallel and can reduce the risk of the client. In the transaction management device, an order receiving unit receives buy and sell order application information from client terminals. An order information generation unit generates a plurality of order information groups for each of the items of the buy and sell order application information received by the order receiving unit, the order information groups each including: a first order for placing one of a buy order or a sell order at a first order price; a second order for placing the other one of the buy or the sell order at a second order price; and a stop order for placing the other one of the buy order or the sell order at the stop order price. The first order price, the second order price, and the stop order price are set to different values for each of the order information groups. A storage unit stores the order information groups generated in the order information generation unit. An execution information generation unit, when starting transaction processing corresponding to each of the order information groups, sets the first order to be valid, the second order to be invalid, and the stop order to be invalid.10-28-2010
20100274703COMPUTER SYSTEM ARCHITECTURE AND COMPUTER IMPLEMENTED METHODS FOR DOMESTIC AND INTERNATIONAL ENHANCED CUSTODY AND PRINCIPAL LENDING OF SECURITIES - A computer system executes a principal lending transaction to lend international securities from lending accounts of a global entity to borrowing accounts of the entity, in which the entity acts as a principal. The system includes a computer database storing securities availability information indicati