Montage for automated market system

US7181424B1 · kind B1 · utility

Assignee

• The Nasdaq Stock Market, Inc. · US

Inventors

• Richard G. Ketchum · Alexandria, US
• Stuart Serkin · Fairfield, US
• John Malitzis · Washington, US
• Peter Martyn · Ridgewood, US
• Debra Peter · Newfoundland, US
• Patti Dizenhaus · Manalapan, US
• Doug Brown · Rochester, US

Key dates

• Filing date: Sep 23, 1999
• Grant date: Feb 20, 2007
• Expiry date: Sep 23, 2019

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process that receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window a plurality of price levels of a product traded in the market. The market also includes processes to handle lock/cross market conditions, match-off of order flow and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers.