System and method for order sweep in a hybrid auction market
US7778916B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jul 15, 2005 |
| Grant date | Aug 17, 2010 |
| Priority date | — |
| Expiry date | Jul 12, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A first price and first size of a published offer to sell shares of a security are determined, and a second price and second size of orders to sell shares of the security are determined. A third price and third size of orders to sell shares of the security are determined, wherein the second price is greater than the published offer and the third price is greater than the second price. A market order to buy shares of the security is received with a buy size greater than a sum of the first size and the second size. A first portion of the market order that is equal to the first size is executed at a first price, and a second portion of the market order is executed at the third price. The sum of the size of the first portion and the size of the second portion equals the buy size. Market orders to sell are handled in a similar fashion.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.