Directed order
US10540716B2 · kind B2 · utility
1Cited by
50References
21Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Jun 19, 2014 |
| Grant date | Jan 21, 2020 |
| Priority date | — |
| Expiry date | May 15, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A directed order process and related market center are disclosed, wherein a market center grants permission to order sending firms to send directed order flow to participating designated market makers. Such designated market makers create a virtual guarantee order book for each permissioned order sending firm. If an order sending firm sends a directed order to the market center that is marketable against a virtual guarantee order, then the market center automatically pairs the orders in a two-sided directed cross order instruction, which executes against any superior trading interest in the marketplace first before crossing.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.