Automated short term option order processing
US7383220B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Mar 8, 2001 |
| Grant date | Jun 3, 2008 |
| Priority date | — |
| Expiry date | Apr 25, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A trading process automatically requests a short term option having a term of less than a minute, and sometimes less than a second, from a market process. The trading process and the market process both operate on a platform. The market process requests a platform service to set a timer to measure the expiration time of the short term option, and to notify the market process and the trading process at the expiration of the short term option. The short term option is particularly useful for a list of orders that must be executed, if at all, at a guaranteed price; in which case, the platform may adjust the expiration time of the short term options associated with the orders in the list to ensure that the orders in the list can be executed at particular respective prices.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.