Automated exchange for trading derivative securities
US7246093B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Apr 18, 2003 |
| Grant date | Jul 17, 2007 |
| Priority date | — |
| Expiry date | Nov 23, 2023 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An automated exchange is provided for trading the financial instruments, such as options contracts. The exchange receives an order to purchase or sell a quantity of the instrument. Information concerning the order is transmitted to one or more market participants. Responses to the transmitted information are received during a predetermined period of time. Trades are executed between the order and the responses. The information transmitted may include only limited information about the order. For example, the party placing the order may remain anonymous. The price of the trade is calculated based on the responses. The order may also trade against previously received orders and quotations.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.