Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2006-03-08
2010-11-02
Colbert, Ella (Department: 3696)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
07827093
ABSTRACT:
An electronic trading system and associated methods that provide for anonymous pricing data while ensuring the integrity of the system by preventing it from being used for price discovery information only. Methods are included to police the dealers requesting price information and clear rules are implemented to reward the dealer offering the best price. Dealers request price information by submitting an open (not anonymous) request to a broker for a price on an amount of a security or financial instrument, referred to herein as a “Price-For-Call,” which results in an anonymous RFQ being sent to a group of other dealers. If more than one dealer in the group responds with a price, only the best price (bid or offer or both) is returned to the requesting dealer and only the dealer offering the best price is rewarded with knowledge of the price information by virtue of the fact that his price traded.
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Gretchen Morgenson; “Sailing Into Merky Waters; A Trading Network Woos Wall Street, As Questions Arise About a Sister Firm”; New York Times; Sunday, Feb. 28, 1999; pp. 1-8.
H. J. Maidenberg; New York Times;“Futures/Options; An Innovation Causes Uproar”; Monday, Feb. 25, 1995; p. 1.
Business Wire; “CBID Markets Launches Electronic Request for Quote Trading”; Tuesday, Sep. 21, 2004; pp. 1-3.
Gretchen Morgenson; “Sailing Into Merky Waters; A Trading Network Woos Wall Street, As Questions Arise About a Sister Firm”; New York Times; Sunday, Feb. 28, 1999; pp. 1-8.
H. J. Maidenberg; New York Times;“Futures/Options; An Innovation Causes Uproar”; Monday, Feb. 25, 1995; p. 1.
Business Wire; “CBID Markets Launches Electronic Request for Quote Trading”; Tuesday, Sep. 21, 2004; pp. 1-3.
Colbert Ella
Dickstein & Shapiro LLP
ICAP Services North America LLC
LandOfFree
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