System and method for changing order priority levels in an electronic trading environment
US7747493B1 · kind B1 · utility
25Cited by
7References
11Claims
0Family size
Assignee
Inventor
Key dates
| Filing date | May 2, 2006 |
| Grant date | Jun 29, 2010 |
| Priority date | — |
| Expiry date | Jul 3, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for fee-based order priority level modification in an electronic trading environment are described. When an order reaches an exchange, a priority level of the order may be changed to a higher priority level, and the priority level of the order initially at the higher priority level may be changed to a lower priority level of the received order. In one embodiment, a trader who is gaining a higher priority level will be preferably charged a fee for having his order moved to the higher priority level, and at least a portion of that fee may be paid to a trader who is giving up his high priority level.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.