Financial exchange system and method for processing retail price improvement orders
US10402902B1 · kind B1 · utility
5Cited by
2References
40Claims
0Family size
Assignee
Inventor
Key dates
| Filing date | Mar 17, 2014 |
| Grant date | Sep 3, 2019 |
| Priority date | — |
| Expiry date | May 10, 2034 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An exchange order fulfillment method includes receiving, by at least one processor, a plurality of orders for trading an underlying security, at least one of the orders comprising a retail price improvement (RPI) order having an interest value that is more aggressive than one of a protected NBB and a protected NBO of the underlying security. The method further includes fulfilling, by the at least one processor, the orders based upon an aggressiveness of a respective interest value for each of the plurality of orders relative to the one of the protected NBB and the protected NBO of the underlying security.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.