System and method for setting and using a sweep liquidity replenishment price in an hybrid auction market
US7747509B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jul 15, 2005 |
| Grant date | Jun 29, 2010 |
| Priority date | — |
| Expiry date | Jul 28, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The price of a best bid is determined, and a proposed bid sweep liquidity replenishment price is determined by subtracting five cents from the price of the best bid. The proposed bid sweep liquidity replenishment price is incrementally decreased by 0, 1, 2, 3 or 4 cents until the proposed bid sweep liquidity replenishment price is divisible by 5 without any remainder. The bid sweep liquidity replenishment price is set equal to the proposed bid sweep liquidity replenishment price. In a similar fashion an offer sweep liquidity replenishment price is determined by adding five cents to the price of the best offer and incrementally increasing by 0, 1, 2, 3 or 4 cents until the offer sweep liquidity price is divisible by 5 without any remainder.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.