Dynamic peg orders in an electronic trading system

US10185993B2 · kind B2 · utility

Assignee

• IEX Group, Inc. · US

Inventors

• Bradley Katsuyama · New York, US
• Matthew Norbert Trudeau · Brooklyn, US
• Constantine Sokoloff · Jersey City, US
• Benjamin Aaron Small · New York, US
• Robert Park · New York, US
• Daniel Aisen · New York, US
• Adrian Branko Facini · Brooklyn, US
• Donald Bollerman · Yonkers, US
• Francis Chung · New York, US

Key dates

• Filing date: Jul 15, 2015
• Grant date: Jan 22, 2019
• Expiry date: Sep 11, 2036

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In order to protect a trading party from predatory trading strategies employed by some market participants, especially during certain periods when quotes for a particular security are experiencing rapid changes or transitions, embodiments of the present invention facilitate and support a new type of trading orders whose booking and execution behaviors are dynamically varied in response to environmental market conditions. Pursuant to predefined rules for the new type of trading orders, the orders may be allowed to trade at more aggressive price levels if the market is relatively stable, and the orders can only trade at less aggressive price levels when the market is unstable.