Securities pricing system

Details Securities pricing system Securities pricing system

2008-01-01

2008-01-01

Patel, Jagdish (Department: 3693)

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

Automated electrical financial or business practice or...

Finance

C705S035000, C705S03600T

Reexamination Certificate

active

07315839

ABSTRACT:
A system for adjusting a price for a security, the price having a spread, and including a pricing engine for providing to a client a price quote for the security. Also included is a past trades database for storing at least one past trade executed by the client. A price adjustment module in communications with the pricing engine is included for adjusting the spread provided to the client based on the at least one past trade.

REFERENCES:
patent: 3716835 (1973-02-01), Weinberg et al.
patent: 4473824 (1984-09-01), Claytor
patent: 4674044 (1987-06-01), Kalmus et al.
patent: 2003/0009412 (2003-01-01), Furbush et al.
patent: 2003/0009413 (2003-01-01), Furbush et al.
patent: 2003/0009414 (2003-01-01), Furbush et al.
Ananth Madhavan, “Trading Mechanisms in Securities Markets,” The Journal of Finance, vol. 47, No. 2. (Jun. 1992), pp. 607-641.
Mark D. Flood et al., “Quote Disclosure and Price Discovery in Multiple-Dealer Finacial Markets,” The Review of Financial Studies, vol. 12, No. 1. (Spring, 1999), pp. 37-59.

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