Dynamic peg orders in an electronic trading system

US11676205B2 · kind B2 · utility

Assignee

• IEX Group, Inc. · US

Inventors

• John Schwall · New York, US
• Eric Wayne Stockland · Frankfort, US
• Bradley Katsuyama · New York, US
• Ronan Ryan · Morristown, US
• Boris Ilyevsky · New York, US
• Lucas Tanner Kowalczyk · Brooklyn, US
• Benjamin Jerome Pierre Connault · New York, US

Key dates

• Filing date: Nov 25, 2019
• Grant date: Jun 13, 2023
• Expiry date: Sep 20, 2041

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 various new type of trading orders whose booking and execution behaviors are dynamically varied in response to environmental market conditions and/or predefined rules. For example, 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 or be automatically suspended or even cancelled when the market is unstable.