Method and apparatus for stock and index option price improvement, participation, and internalization
US6829589B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Jul 21, 2000 |
| Grant date | Dec 7, 2004 |
| Priority date | — |
| Expiry date | Dec 21, 2022 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for stock and index option trading includes the steps of receiving an option order copy from an order flow provider. The option order is contemporaneously submitted to a market. The option order identifies, as examples, contract elements including a contract identifier, underlying security, strike price, expiry, and option quantity. The method then determines a potential cross quantity and price based on the option order. Subsequently, the method submits a contra-order (with respect to the originally received option order) specifying contract elements including the contract identifier, underlying security, strike price, and expiry, as well as the potential cross quantity and price to the market for fulfillment.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.