Apparatus and method for trade aggregation of trade allocations and settlements
US10430884B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 18, 2017 |
| Grant date | Oct 1, 2019 |
| Priority date | — |
| Expiry date | Sep 18, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/10
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A post-trade aggregation system for financial instrument trading systems, wherein a trader manages a plurality of trade orders to be executed by one or more executing brokers on behalf of customers via a data interface system. The plurality of trade orders includes at least one wrap block order and at least one institutional block order. The plurality of trade orders are merged into a single merged block order, apportioned into a plurality of smaller electronic trade orders, and transmitted to a plurality of order destinations. One or more computer systems are in electronic communication with the data interface system and with a clearing system, and configured to compress individual executions from the plurality of order destinations corresponding to the plurality of smaller electronic trade orders into a single net marked-up step-out for wrap orders and a single average-priced block for institutional orders.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.