Method and apparatus for setting a price for a security on an automated exchange based on a comparison of prices on other exchanges
US6377940B2 · kind B2 · utility
217Cited by
14References
12Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Nov 5, 1998 |
| Grant date | Apr 23, 2002 |
| Priority date | — |
| Expiry date | Nov 5, 2018 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In an automated exchange system a method and a device which automatically checks the corresponding price in other exchange's order books is provided the exchange only allows a match if a better price cannot be found elsewhere. In a preferred embodiment the order is automatically transferred to the exchange having the better price if this is the case, and the order is further processed at that exchange the method and device provides means so that investors will not have to worry about getting a better price elsewhere, when entering bids into an automated exchange.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.