Boots – shoes – and leggings
Patent
1985-01-30
1987-06-16
Smith, Jerry
Boots, shoes, and leggings
34082526, 34082527, G06F 1520, G06F 1530
Patent
active
046740449
ABSTRACT:
Data processing based apparatus makes an automated trading market for one or more securities. The system retrieves the best obtaining bid and asked prices from a remote data base, covering the ensemble of institutions or others making a market for the relevant securities. Data characterizing each securities buy/sell order requested by a customer is supplied to the system. The order is qualified for execution by comparing its specifics against predetermined stored parameters. The stored parameters include the operative bid and asked prices, the amount of stock available for customer purchase or sale, and maximum single order size.
Once qualified, the order is executed and the appropriate parameters are updated. The system provides inventory (position) control and profit accounting for the market maker. Finally, the system reports the executed trade details to the customer, and to national stock price reporting systems. Upon a change in the quoted price for a security, the system updates all relevant qualification parameters.
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patent: 4334270 (1982-06-01), Towers
patent: 4412287 (1983-10-01), Braddock
patent: 4473824 (1984-09-01), Claytor
patent: 4554418 (1985-11-01), Toy
Kalmus Leslie P.
Mott Bradley
Strampfer John
Trojan Donald R.
Botjer William L.
Hayes G.
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Smith Jerry
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