Opening cross in electronic market

US8326737B2 · 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
• Timothy McCormick · Winchester, GB

Key dates

• Filing date: Nov 2, 2010
• Grant date: Dec 4, 2012
• Expiry date: Nov 2, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method, executed in a computer system, for opening an electronic market for trading of a security is described. The method includes receiving by the computer system eligible orders and quotes for the security traded in the electronic market and disseminating an order imbalance indicator indicative of predicted trading characteristics of the security at the open of trading. The method also includes determining by the computer system a price or prices at which the maximum shares would be executed and determining which price would minimize any imbalance of eligible orders and executing at least some of the eligible orders at the determined opening price.