System and method for processing securities trading instructions and communicating order status via a messaging interface
US8176127B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jul 29, 2005 |
| Grant date | May 8, 2012 |
| Priority date | — |
| Expiry date | Mar 27, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system allowing traders, etc. to use instant messaging (IM) (or other non-FIX based) communications to input trading instructions directly into a broker's Order Management System (OMS) for managing/executing trades. Accordingly, trading instructions may be provided electronically directly from a buy-side trader, and directly to a sell-side broker's/brokerage's OMS, without the need for the sell-side broker to manually re-key the order into the sell-side firm's OMS. Further, trading instructions are provided in electronic format directly to the broker's OMS without the need for the buy-side trader to have an expensive FIX based OMS or associated FIX connection, which is also expensive, thereby allowing relatively smaller investment houses/buy-side organizations to enjoy the benefits of electronic delivery of trading instructions directly to brokers' OMS.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.