Simplified quote sharing calculation
US8229833B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Sep 28, 2007 |
| Grant date | Jul 24, 2012 |
| Priority date | — |
| Expiry date | May 24, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Presented is a method for calculating and distributing quoting share revenue to exchange members that contribute quote data to market data feeds. First, the method reads in trading data chronologically for a particular day. Using an object oriented framework, the method divides the symbols and orders into groups of objects to facilitate the tracking of the total price, quantity, and seconds displayed for each symbol. The timestamp of each message is read and the seconds field is parsed ignoring fractional seconds. Credits are awarded for each second the quote is displayed at the National Best Bid/Offer (“NBBO”) by multiplying the price, quantity, and elapsed whole seconds. These quote credits are stored by the system for each member and symbol. Members are eligible to earn quote credits on either the bid or the offer or both at the same time.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.