Representation of order in multiple markets
US7539638B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Mar 8, 2001 |
| Grant date | May 26, 2009 |
| Priority date | — |
| Expiry date | Jun 3, 2023 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A trading process represents an order that it is handling at multiple market processes simultaneously. Each of the market processes and the trading process follow a two-phase commit protocol, wherein permission to execute the order is obtained from the process controlling the order, and then the order is executed. Accordingly, multiple executions of an order are prevented. The control process is typically the trading process that originated the order. However, in some market methodologies, the market process may assume control over the order. Permission to execute the order is explicitly given by a trading process. Permission to execute the order may be inferred after a market process determines that no other market processes have control over the order.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.