Price improvement in an active trading market
US7574395B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Jun 11, 2002 |
| Grant date | Aug 11, 2009 |
| Priority date | — |
| Expiry date | Dec 11, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods for providing traders an opportunity to improve prices for an item trading in an active market are provided. After a trader HITS or LIFTS a bid or offer, a market becomes active. When the market is active, traders can submit orders that improve on the price of the current market price of an item. Whenever a price improvement order is currently available for use in a transaction order, a price improvement indicator is displayed to indicate to other traders that price improvement is occurring. When a price improvement order is used to fill a transaction order, a portion of the difference between the market price and the price improvement price may be divided between the trader associated with the price improvement order, the trader associated with the transaction order, and the system host.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.