Generation of estimated prices of instruments for a trade in...

Details Generation of estimated prices of instruments for a trade in... Generation of estimated prices of instruments for a trade in...

2003-01-22

2008-12-23

Kramer, James (Department: 3693)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

Reexamination Certificate

active

07469229

ABSTRACT:
In an automatic trade system wherein bids and offers in instruments as well as in combinations of instruments are received and a trade in an instrument or in a combination of instruments is performed when, for a certain number of that instrument or combination of instruments, a bid price matches an ask price, a method for generating estimated prices of instruments for a trade in a combination of instruments, comprises the steps of (i) identifying for each bid/offer in each one of said instruments its bid/ask price; (ii) storing the identified bid/ask price of the last bid/offer in each one of said instruments; and (iii) generating said estimated prices based on the stored bid/ask price of the last bid/offer in at least one of said instruments, which is comprised in said combination of instruments, independent on whether said last bid/offer still exists or not at the time of generating said estimated prices.

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Tully, Judd. The Slyest Bidder, Forbes. New York: Fall 1999. p. 44, 4 pgs.
Related U.S. Appl. No. 10/454,833, filed Jun. 5, 2003; Inventor: Alessandro Romani.

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