Block trading system and method providing price improvement to aggressive orders
US8069106B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 11, 2004 |
| Grant date | Nov 29, 2011 |
| Priority date | — |
| Expiry date | Jan 29, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention comprises systems and methods for facilitation of electronic securities trading. A preferred system embodiment comprises a trade facilitation computer system comprising a facilitator module, a financial information exchange server, a transactional database, and an analytics server operative to calculate reference prices for securities. A preferred method embodiment comprises the steps of receiving market data for a security; calculating a reference price for the security; receiving a first order comprising a first price limit and a first quantity limit; receiving a second order contra to the first order and comprising a second price limit and a second quantity limit; and executing a trade comprising the first order and the second order at a price whose difference from the reference price is minimized, wherein the trade complies with the first and second price and first and second quantity limits.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.