Electronic block trading system and method of operation
US8380612B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jan 27, 2011 |
| Grant date | Feb 19, 2013 |
| Priority date | — |
| Expiry date | Jan 27, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/188
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method are described and disclosed that are used for effecting large block trades of securities in an automated and anonymous matter in which fair pricing is carried out using features of the National Best Buy Offer (“NBBO”). The automated trading the system and method also will carry out negotiations to effect a trade in certain circumstances, though the preferred method of effecting trades is by automated trading. However, regardless of the trading method, anonymity of the trading counterparties is preserved. The system and method also tests the NBBO for each of the traded securities to ensure it is valid before an automated trade may take place.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.