Opening price process for trading system
US7882010B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 7, 2002 |
| Grant date | Feb 1, 2011 |
| Priority date | — |
| Expiry date | Aug 26, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system for determining an opening price for products traded over a distributed, networked computer system, includes a plurality of workstations for entering orders for financial products into the distributed, networked computer system and a server computer coupled to the workstations for receiving the orders. The server computer determines when a time just prior to an official opening time for opening regular trading has been reached, and executes a server process that determines an opening price for the product. The server process identifies the oldest of interest at the most aggressive price on each side of the market and selects the older interest of the identified interest to designate as initial interest. The server process matches initial interest against all contra side interest.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.