Automated trading exchange system and method utilizing a randomized opening procedures
US7321872B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 30, 2000 |
| Grant date | Jan 22, 2008 |
| Priority date | — |
| Expiry date | Oct 16, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method of opening option trading in an automated exchange trading system. The system receives orders and quotes and matches the orders and quotes to generate trades. The method includes the step of accepting, during a first time period, quotes and orders associated with an option class. The first time period precedes the opening of trading. An opening value of an underlying security is received and opening prices for a number of option series in the option class are determined. Additional quotes and orders are received during a second time period and the opening prices are responsively updated. The second time period is terminated at a randomly selected time and opening rotations begin.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.