Apparatus and methods for handling trading data
US8301531B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Aug 12, 2011 |
| Grant date | Oct 30, 2012 |
| Priority date | — |
| Expiry date | Aug 12, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A manually-assisted computer and communications apparatus is provided for periodically fixing a price of a currency or commodity. Successive rate samples of said currency/stock/commodity are received from a plurality of sources (80) over a period of time, recorded and filtered automatically (90) by reference to said historical record and predetermined validation criteria so as to categorize certain samples as valid or erroneous. The received & filtered samples are combined periodically (105-115) so as to derive a fixed rate, which is then released (120) to users. The filtering means distinguishes between rate samples of different contributors within the samples received from a given source, and also receives (OTR1) trading rates generated by an online trading system, in addition to rates quoted by other contributors. Trading rates are applied in said fixed rate in preference to quoted rates. Traders and clients contract (450, 455) to buy and sell currency at rates to be fixed by the apparatus at a future time.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.