Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2011-05-17
2011-05-17
Kalinowski, Alexander (Department: 3691)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000
Reexamination Certificate
active
07945507
ABSTRACT:
A method and system for facilitating trading of financial instruments in a market are provided. The system comprises a server and an interface. The interface is configured to enable buy orders and sell orders to be entered. Each order has a price, a volume, and an entry time and relates to a respective futures contract The server is configured to match received buy orders having a first price to received sell orders having the first price. The match is effected by ensuring that the prices match, and then using the volume and entry time for each buy order and each sell order to assign a volume weight and a time weight, and then using the volume weights and the time weights to determine each match. The server uses the matches to complete respective trades. The volume and time weights may be adjusted based on market conditions.
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patent: 2004/0215538 (2004-10-01), Smith et al.
patent: 2006/0167789 (2006-07-01), Tilly et al.
patent: 2006/0224495 (2006-10-01), Vinte
patent: 2007/0100732 (2007-05-01), Ibbotson et al.
Price and Time-Priority Versus Pro-Rata Algorithms in Electronically Traded Futures Markets: Simulation Based Performance Characteristics, Alex Frino and Jayaram Muthuswamy, Department of Finance, University of Sydney, Sydney, NSW, 2006. Oct. 3, 1998. (http://www.sirca.org.au/Papers/1998009.pdf).
Campbell Kellie
Kalinowski Alexander
Katten Muchin & Rosenman LLP
LIFFE Administration and Management
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