Closing in an electronic market

US8280797B2 · kind B2 · utility

Assignee

• NASDAQ OMX Group, Inc. · US

Inventors

• Frank Hatheway · Bethesda, US
• Daniel F. Moore · New Haven, US
• Timothy E. Cox · Bethesda, US
• Peter Martyn · Ridgewood, US
• Dan B. Franks · Clearwater, US
• Adam Seth Nunes · New York, US
• Oliver Albers · Oakland, US

Key dates

• Filing date: Jan 11, 2010
• Grant date: Oct 2, 2012
• Expiry date: Jan 11, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for trading a security in an electronic market includes receiving closing orders and orders for the security traded in the electronic market, disseminating an order imbalance indicator indicative of predicted trading characteristics of the security at the close of trading, determining a closing price for the security based on the closing orders and orders, and executing at least some of the closing orders at the determined closing price.