Block trading system and method providing price improvement to aggressive orders

US8095456B2 · 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: Dec 22, 2010
• Grant date: Jan 10, 2012
• Expiry date: Dec 22, 2030

Classification

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

Abstract

An exemplary embodiment comprises a method for trading items among a plurality of traders, the method comprising: (a) receiving a first order for at least one item from one of the traders into an electronic trading system, wherein the first order provides priority for said at least one item but does not reserve said at least one item; (b) receiving, from another one of the traders, a second order into the electronic trading system that matches said first order; (c) determining that at least a portion of the first order is available to be filled by at least a portion of the second order; (d) reserving said at least a portion of said first order for execution against said at least a portion of said second order; and (e) executing said at least a portion of said first order against said at least a portion of said second order.