Secure consolidated exchange feed for order entry and market data

US11055775B2 · kind B2 · utility

Assignee

• Chicago Mercantile Exchange Inc. · US

Inventors

• Frank Kmiec · Streamwood, US
• Ari Studnitzer · Northbrook, US
• Donald Mendelson · Des Plaines, US
• Zachary Bonig · Skokie, US
• Priteshkumar Soni · Naperville, US
• Arkadiusz Koziol · Glenview, US
• Jacques Doornebos · Riverside, US

Key dates

• Filing date: Feb 17, 2012
• Grant date: Jul 6, 2021
• Expiry date: Feb 17, 2032

Classification

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

Abstract

Systems and methods 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.