Automated trial order processing

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Reexamination Certificate

Rate now

  [ 0.00 ] – not rated yet Voters 0   Comments 0

Details

Reexamination Certificate

active

07890410

ABSTRACT:
A trading process wishing to perform market depth discovery sends a trial order to a market process. The trading process and the market process are both operative on a platform. The market process receives the trial order and enters the trial order into its order book. When responding to market inquiries from trading processes, the market process ignores the trial order. At some point, the market process selects the trial order for pairing with an active contra-side order, as if the trial order was a regular order, and sends a pairing report for zero shares to the trading process that originated the trial order. The market process then removes the trial order from its order file, and pairs the regular orders in its order file such that their pairing priority is unaffected by the trial order.

REFERENCES:
patent: 3702007 (1972-10-01), Davis, II
patent: 4346442 (1982-08-01), Musmanno
patent: 4376978 (1983-03-01), Musmanno
patent: 4456957 (1984-06-01), Schieltz
patent: 4674044 (1987-06-01), Kalmus
patent: 4823265 (1989-04-01), Nelson
patent: 5077665 (1991-12-01), Silverman et al.
patent: 5101353 (1992-03-01), Lupien
patent: 5148365 (1992-09-01), Dembo
patent: 5148368 (1992-09-01), Okubo
patent: 5253165 (1993-10-01), Leiseca
patent: 5297031 (1994-03-01), Gutterman et al.
patent: 5297032 (1994-03-01), Trojan
patent: 5315634 (1994-05-01), Tanaka et al.
patent: 5412804 (1995-05-01), Krishna
patent: 5453601 (1995-09-01), Rosen
patent: 5615269 (1997-03-01), Micali
patent: 5689652 (1997-11-01), Lupien
patent: 5787402 (1998-07-01), Potter
patent: 5806048 (1998-09-01), Kiron
patent: 5826244 (1998-10-01), Huberman
patent: 5845266 (1998-12-01), Lupien
patent: 5847845 (1998-12-01), Takahashi
patent: 5864827 (1999-01-01), Wilson
patent: 5915245 (1999-06-01), Patterson, Jr.
patent: 5924082 (1999-07-01), Silverman
patent: 5924083 (1999-07-01), Silverman
patent: 5941996 (1999-08-01), Smith
patent: 5946666 (1999-08-01), Nevo et al.
patent: 5946667 (1999-08-01), Tull, Jr.
patent: 5950176 (1999-09-01), Keiser
patent: 5950177 (1999-09-01), Lupien et al.
patent: 5953707 (1999-09-01), Huang
patent: 5963923 (1999-10-01), Garber
patent: 5978779 (1999-11-01), Stein et al.
patent: 5983200 (1999-11-01), Slotznick
patent: 5987435 (1999-11-01), Weiss
patent: 6012043 (2000-01-01), Albright
patent: 6012046 (2000-01-01), Lupien et al.
patent: 6014643 (2000-01-01), Minton
patent: 6016483 (2000-01-01), Rickard
patent: 6018722 (2000-01-01), Ray et al.
patent: 6021397 (2000-02-01), Jones
patent: 6021398 (2000-02-01), Ausubel
patent: 6026383 (2000-02-01), Ausubel
patent: 6029146 (2000-02-01), Hawkins et al.
patent: 6035287 (2000-03-01), Stallaert et al.
patent: 6035289 (2000-03-01), Chou
patent: 6068117 (2000-05-01), Koehn
patent: 6092056 (2000-07-01), Tull, Jr. et al.
patent: 6101484 (2000-08-01), Halbert
patent: 6105005 (2000-08-01), Fuhrer
patent: 6131087 (2000-10-01), Luke
patent: 6134535 (2000-10-01), Belzberg
patent: 6160204 (2000-12-01), Steffens
patent: 6236980 (2001-05-01), Reese
patent: 6278982 (2001-08-01), Korhammer
patent: 6285989 (2001-09-01), Shoham
patent: 6317727 (2001-11-01), May
patent: 6317728 (2001-11-01), Kane
patent: 6321212 (2001-11-01), Lange
patent: 6343278 (2002-01-01), Jain
patent: 6359633 (2002-03-01), Balasubramaniam
patent: 6377940 (2002-04-01), Tilfors
patent: 6405180 (2002-06-01), Tilfors
patent: 6408282 (2002-06-01), Buist
patent: 6418419 (2002-07-01), Nieboer et al.
patent: 6421653 (2002-07-01), May
patent: 6493681 (2002-12-01), Tertitski
patent: 6493682 (2002-12-01), Horrigan
patent: 6505174 (2003-01-01), Keiser
patent: 6553346 (2003-04-01), Walker
patent: 6594643 (2003-07-01), Freeny, Jr.
patent: 6601044 (2003-07-01), Wallman
patent: 6625583 (2003-09-01), Silverman
patent: 6629082 (2003-09-01), Hambrecht
patent: 6766372 (2004-07-01), Stern
patent: 6792399 (2004-09-01), Phillips
patent: 6850907 (2005-02-01), Lutnick
patent: 6944879 (2005-09-01), Hirayama
patent: 6968318 (2005-11-01), Ferstenberg
patent: 7024387 (2006-04-01), Nieboer
patent: 7035819 (2006-04-01), Gianakouros
patent: 7058601 (2006-06-01), Paiz
patent: 7242669 (2007-07-01), Bundy
patent: 7454372 (2008-11-01), Anaya
patent: 7617144 (2009-11-01), Madoff
patent: 2001/0042785 (2001-11-01), Walker
patent: 2002/0004774 (2002-01-01), Defarlo
patent: 2002/0023037 (2002-02-01), White, Jr.
patent: 2002/0107781 (2002-08-01), Neyman
patent: 2002/0138390 (2002-09-01), May
patent: 2002/0156719 (2002-10-01), Finebaum
patent: 2003/0014354 (2003-01-01), Madoff
patent: 2003/0014379 (2003-01-01), Saias
patent: 2003/0093343 (2003-05-01), Huttenlocher
patent: 2004/0117302 (2004-06-01), Weichert
patent: 2006/0195386 (2006-08-01), Glodjo
patent: 2009/0083175 (2009-03-01), Cushing
patent: WO 00/63814 (2000-10-01), None
patent: WO 01/02930 (2001-01-01), None
BEA Endorses RosettaNet Open Standards for E-Market Integration, PR Newswire. New York: Apr. 10, 2000. p. 1.
“AuctionBot”, 9 pages from http://auction.eecs.umich.edu, printed Mar. 30, 2000.
Maes et al., “Agents that Buy and Sell: Transforming Commerce as we Know It”, Comm. ACM, Mar. 1999, vol. 42, No. 3.
Wellman et al., “Real Time Issues for Internet Auctions”, First IEEE Workshop on Dependable and Real-Time E-Commerce Systems (DARE-98), Denver, CO, Jun. 1998.
Wurman et al., “Flexible Double Auctions for Electronic Commerce: Theory and Implementation”, Jul. 13, 1998, to appear in “Decision Support Systems”.
Mertz et al., “The Handbook of Investment Technology,” Chapters 7, 8,and 15.
Keyes, Handbook of Technology Financial Services, Chapters 5, 36, 37, 40.
Teweles et al, “The Stock Market,” Chapters 8 and 23.
Dalton, “How the Stock Market Works,” Chapters 5 and 7.
“PeCo-Mediator: finding partners via personal connections,” IEEE Int. Conf. on Systems, Man and Cybernetics 1996, vol. 1:802-7 Abstract.
Propson, “The Secret Matchmaker,” BUSINESS2.COM, Mar. 6, 2001, pp. 90-93.
Arvedlund, “An Arranged Exchange,” BUSINESS2.COM, Feb. 6, 2001, pp. 90-91.
Chang, “New Age Bidding: Against Computers, Humans Usually Lose,” New York Times, Jan. 2, 2001, pp. 1-3.
Rijnen, “Trading Places,” Alleycat News, pp. 61-73, Nov. 2000.
e-mail from lab—rat@listserv.redherring.com, dated Feb. 8, 2001, Subject: Lab Rat: Smart technology trounces traders, pp. 1-5.
The Options Institute, “Options: Essential Concepts & Trading Concepts,” 3d ed., McGraw-Hill, New York, 1999, p. 420.
Handa, P., et al., “A Tale of Two Trading Venues: Electronically Delivered Orders vs. Floor Brokered Orders on the American Stock Exchange,” Proceedings of the 32nd Hawaii International Conferences on Systems Sciences [HICSS-32], Jan. 1999, 7 pages.
Olsen, R.A., “Behavioral Finance and Its Implications for Stock-Price Volatility,” Financial Analysts Journal 54(2), Mar./Apr. 1998, <http://proquest.umi.com/pqdweb?index=3&did=28950600&SrchMode=1&sid=2&Fmt=4&V...> [retrieved Mar. 28, 2008], 14 pages.
U.S. Securities and Exchange Commission, “Special Study: Payment for Order Flow and Internalization in the Options Markets,” Office of Compliance Inspections and Examinations/Office of Economic Analysis, Dec. 2000, <http://www.sec.gov
ews/studies/ordpay.htm> [retrieved Mar. 25, 2008], pp. 1 and 12-14.
Board of Trade of the City of Chicago, Commodity Trading Manual, 1998, pp. 178-179, 387.
Hull, J.C., Introduction to Futures & Options Markets, 2d ed., Prentice Hall, Englewood Cliffs, N.J., 1995, pp. 4-6, 11, 26, 33-34.
Livingston, M., Bonds and Bond Derivatives, Blackwell Publishers, Malden, Mass., 1999, pp. 38-41.
“More Companies Buying Back Stock,” The Salt Lake Tribune, Apr. 9, 2000, <http://proquest.umi.com/pqdweb?index=6&did=52501230&SrchMode=1&sid=21&Fmt=3...>[retrieved Nov. 3, 2005].
“Streamer Free Real-Time Stock Quote Service Registers 12,000 Users,” PR Newswire, Nov. 3, 1999, <http://w

LandOfFree

Say what you really think

Search LandOfFree.com for the USA inventors and patents. Rate them and share your experience with other people.

Rating

Automated trial order processing does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Automated trial order processing, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Automated trial order processing will most certainly appreciate the feedback.

Rate now

     

Profile ID: LFUS-PAI-O-2631109

  Search
All data on this website is collected from public sources. Our data reflects the most accurate information available at the time of publication.