Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
1996-09-26
2001-02-27
Cosimano, Edward R. (Department: 2761)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000, C705S03600T
Reexamination Certificate
active
06195647
ABSTRACT:
BACKGROUND OF THE INVENTION
The present invention relates generally to online processing of transactions in a multi-user environment. More particularly, the present invention relates to a transaction processing system for a securities market.
In a securities market, traders buy and sell securities using offers and bids. Although the term “security” usually means a share in a corporation, the term may have a broader meaning which is proper for a full understanding of this invention. The chief characteristic of a security for purposes of this invention is that it may be traded over a common system or exchange.
Sellers advertise “offers” or prices at which they will sell their securities, and buyers transmit “bids” or prices at which they will buy securities. Of course, sellers attempt to sell at the highest price while buyers attempt to buy at the lowest price. The “inside quote,” which is the highest offer or the lowest bid, represents the best price for sellers and buyers.
To compete effectively, traders require certain information to determine when they have the most advantageous situation to sell or buy. That information includes what other traders are offering or bidding.
Traditionally, traders exchanged their orders on a stock floor such as the New York or American Stock Exchanges. The National Association of Securities Dealers, Inc. (NASD), however, created an on-line transaction processing system for trading securities. This system allows traders to make quotes and find inside quotes quickly and easily. To use this system, NASD supplies its users with workstations having screen displays, some of which may be customized and some of which are fixed. This system provided capabilities and services that traditional systems did not.
An object of this invention is to advance the current system and provide additional information to traders about securities and the securities market that responds quickly to the fast-paced securities market, flexible.
Another object of this invention is a system to allow traders to make and report trades simply and easily.
Additional objects and advantages of the invention will be set forth in part in the description which follows, and in part will be obvious from the description, or may be learned by practice of the invention. The objects and advantages of the invention will be realized and attained by means of the elements and combinations particularly pointed out in the appended claims.
SUMMARY OF THE INVENTION
To achieve the objects and in accordance with the purpose of the invention embodied and broadly described herein, the present invention includes a method of customizing the displays according to this invention that operates in a data processing system providing a user an interface with a securities exchange system over which securities are traded. A system display database contains information to be shown in system displays that show information about the securities exchange system. The method comprises the steps, implemented by the data processing system, of: receiving from a user a first input requesting a maintenance display indicating which system display shows information about a desired security; displaying, in response to the first input, the maintenance display; receiving a second input from the user indicating a change in the system display that shows the information about the desired security; and updating the system display database to reflect the changes indicated by the second input.
Another method according to this invention of providing information on a desired security uses a data processing system providing a user interface with a securities exchange system for trading securities. The users trade securities that have an associated set of information. The method comprises the steps, implemented by the data processing system, of: receiving, from a user a first input requesting a display for the desired security, the display containing a predetermined subset of information selected from the set of information associated with the desired security; displaying the display containing a predetermined subset of information for the desired security; receiving a second input from the user specifying a trade of the desired security; executing the trade; and reporting the trade to the securities exchange system.
Yet another method of providing information on selected securities according to this invention also operates in a data processing system providing an interface with a securities exchange system for trading securities in which users trade securities according to offers and bids. The method comprises the steps, implemented by the data processing system, of: receiving from a user a first input requesting a ticker display containing information associated with a selected set of securities; displaying the ticker display; scrolling the selected information across the ticker display in a predetermined scroll direction; receiving from a user a second input changing the information associated with the selected set of securities; and scrolling the changed selected information.
A further method of providing information to a user on selected securities according to this invention operates also in a data processing system that provides a user interface with a securities exchange system for trading securities. The method comprises the steps, implemented by the data processing system, of: creating a first window containing a plurality of icons each associated with a different security; displaying the first window; receiving from the user a second input selecting one of the plurality of icons; and displaying, in response to the second input, a second window containing information and functions associated with the security associated with the selected icon.
Both the foregoing general description and the following detailed description are only exemplary and explanatory and do not restrict the invention as claimed.
The accompanying drawings, which are incorporated in and constitute a part of this specification, illustrate embodiments of the invention and together with the description, serve to explain the principles of the invention.
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Coords Deane
DeNat Mark
Flynn Edward
Franke Maureen
Hall Diane Geberth
Cosimano Edward R.
Fish & Richardson P.C.
Hayes John W.
The Nasdaq Stock Market, Inc.
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