Block trading system and method providing price improvement to aggressive orders

US7882015B2 · kind B2 · utility

Assignee

• Pipeline Financial Group, Inc. · US

Inventors

• Henri Waelbroeck · Scarsdale, US
• Fred J. Federspiel · Larchmont, US
• Andrew Roper · Brooklyn, US
• Howard Engelhart · Hoboken, US
• Sean Kirkpatrick · Stone Ridge, US

Key dates

• Filing date: Jul 28, 2008
• Grant date: Feb 1, 2011
• Expiry date: Oct 8, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q50/188
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In a trading system for trading securities or the like, Contra Targeting is performed by enabling users to expose the liquidity within their order management system without divulging order management system information to a central trading server. Also, virtual orders can be placed and executed which give users price-time priority on an order without reserving the shares until the moment of execution.