Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2011-08-02
2011-08-02
Kalinowski, Alexander (Department: 3691)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000, C705S03600T
Reexamination Certificate
active
07991682
ABSTRACT:
Embodiments of a system and method for cross trading a publicly traded security are disclosed. In an embodiment, a cross trade is executed at the volume weighted average price of the publicly traded security calculated for a portion of the trading day. An embodiment of the method includes accepting offers to buy and sell the security during a first window of time, calculating the volume weighted average price of the security during a second window of time, and cross trading the offers. An embodiment of the system includes a user interface for accepting offers, a volume weighted average price calculator for calculating the volume weighted average price at which to execute the cross trade and a cross trade application for executing the cross trade.
REFERENCES:
patent: 2002/0082967 (2002-06-01), Kaminsky et al.
patent: 2003/0177126 (2003-09-01), Weingard et al.
patent: 2004/0236636 (2004-11-01), Lutnick et al.
patent: 2005/0222936 (2005-10-01), Panariti et al.
patent: 2006/0059078 (2006-03-01), Courbois et al.
patent: 2006/0085312 (2006-04-01), Griffin et al.
patent: WO 01/084419 (2001-11-01), None
§ Christopher Ting. (2006). Which Daily Price is Less Noisy? Financial Management, 35(3), 81-95, from ABI/INFORM Global. (Document ID 1155160071).
§ Michael Geismar, President, Quantitative Investment Management. (Mar. 1986). Wall Street Computer Review, 3(6), 40, from ABI/INFORM Global. (Document ID: 1375822361).
U.S. Appl. No. 12/353,671, filed Jan. 14, 2009.
U.S. Appl. No. 12/353,675, filed Jan. 14, 2009.
U.S. Appl. No. 11/900,163, filed Sep. 10, 2007.
Gomber et al., “Flexible VWAP Executions in Electronic Trading”, presented at the 2008 European Conference of the Financial Management Association International, Jun. 4-6, 2008, 12 pages.
Birnbaum Samuel Ayzyk
Zarcu Cristian
Glazier Stephen C.
K&L Gates LLP
Kalinowski Alexander
Vyas Abhishek
Wells Fargo Bank N.A.
LandOfFree
Cross trading securities during time windows at the volume... does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Cross trading securities during time windows at the volume..., we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Cross trading securities during time windows at the volume... will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-2758525