Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2003-03-28
2008-12-09
Kramer, James (Department: 3693)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
07464055
ABSTRACT:
An alert system that notifies an Exchange's staff of a trade that appears to be outside of an expected market range of prices includes an input device, determination logic, evaluation logic, and alert logic. The determination logic derives a theoretical no-bust range of prices based on data received from the input device. The theoretical no-bust range of prices are prices above and below a synthesized market price, within which an erroneous trade cannot be cancelled. The evaluation logic monitors trades and compares those trades to the theoretical no-bust range of prices. The alert logic notifies the Exchange's staff when the evaluation logic identifies a potentially erroneous trade that lies outside the theoretical no-bust range of prices. A method of notifying the Exchange of a trade that potentially lies outside of an expected range of prices includes monitoring an input range of prices and deriving the theoretical no-bust range of prices. The method then compares transactions prices to the theoretical no-bust range of prices and notifies the Exchange when a potentially erroneous trade can be cancelled.
REFERENCES:
patent: 4903201 (1990-02-01), Wagner
patent: 4980826 (1990-12-01), Wagner
patent: 7228289 (2007-06-01), Brumfield et al.
patent: 2002/0111896 (2002-08-01), Ben-Levy et al.
patent: 2002/0128945 (2002-09-01), Moss et al.
patent: 2002/0156719 (2002-10-01), Finebaum et al.
patent: 2002/0174056 (2002-11-01), Sefein et al.
patent: 2003/0041000 (2003-02-01), Zajac et al.
patent: 2003/0093362 (2003-05-01), Tupper et al.
patent: 2003/0172024 (2003-09-01), Kokis et al.
patent: 2003/0182224 (2003-09-01), Horrigan et al.
patent: 2003/0236737 (2003-12-01), Kemp et al.
patent: 2004/0002913 (2004-01-01), Breen et al.
patent: 2004/0117292 (2004-06-01), Brumfield et al.
patent: 2004/0236668 (2004-11-01), Toffey
patent: 2005/0096931 (2005-05-01), Baker et al.
patent: 2005/0149429 (2005-07-01), Kemp et al.
patent: 2007/0156574 (2007-07-01), Marynowski et al.
“Code of Federal Regulations,” Commodity and Securities Exchanges, Apr. 1, 1983, Parts 1-239, pp. 1-150 (Part 1).
“Code of Federal Regulations,” Commodity and Securities Exchanges, Apr. 1, 1983, Parts 1-239, pp. 151-322 (Part 2).
Teweles and Bradley, “The Stock Market,” Fourth Edition, 1982, John Wiley & Sons, Inc., pp. 136-179.
Melamed, Leo, “Automation in the Futures Industry” Proceedings of a Conference Sponsored by Commodity Futures Trading Commission, Jun. 15, 1977, Washington, D.C., pp. 1-3 and 273-283.
Atken and Berry, “Surveillance Literature . . . Market Surveillance at the Australian Stock Exchange: An Overview”, 5thDraft, Jul. 1991, pp. 1-21.
Barish and Siff, “Operational Gaming Simulation With Application To A Stock Market,” Management Science, Journal of the Institute of Management Sciences, vol. 15, No. 10, Jun. 1969, pp. B-530-B-541.
Garman, Mark B., “A Description of an Experimental Securities Exchanges” University of California, Berkeley, Mar. 1975, revised Oct. 1975, pp. 1-17 and Appendix pp. 1-3.
“Automated Bonds System (ABS), User Manual”, The New York Stock Exchange, Floor Operations Department, Feb. 27, 1976, 75 pages.
French and Roll, “Journal of Financial Economics the Arrival of Information and Reaction of Traders”, Stock Return Variances Elsevier Science Publishers B.V. (North Holland), 1986, pp. 5-27.
Blume, Siegel and Rottenberg, revolution on wall Street, the Rise and Decline of the New York Stock Exchange, “Chapter 11: Technology and the Marketplace”, W.W. Norton & Company, New york and London, 1993, pp. 192-214.
Letter to George A. Fitzsimmons, Securities and Exchanged Commission, Apr. 30, 1976, pp. 1-4.
Williams, Arlington W., “Computerized Double-Auction Markets: Some Initial Experimental Results,” The Journal of Business, The Graduate School of Business of the University of Chicago, vol., No. 3, Part 1, Jul. 1980, pp. 235-258.
Carrington, “Computer Linkups Letting Traders Start Up Securities Firms at Home,” The Wall Street Journal, Wednesday, Dec. 9, 1981, p. 33.
Bleiberg, Robert M., “Market Winner, Financial Futures Have Scored Remarkable Gains,” Barron's National Business and Financial Weekly, Dow Jones & Company, Inc., Nov. 30, 1981, p. 7.
Ettore, Barbara, “Faces Behind The Figures”, Forbes, Aug. 30, 1982, p. 139.
Wall Street Letter, Aug. 30, 1982, p. 7.
Wall Street Letter, Aug. 2, 1982, p. 3.
Dunne, Nancy, “Dawn of Electronic Age For Futures”, London Financial Times, Wednesday, Dec. 23, 1981, p. 1.
“INTEX Update for Members”, Nov., 1982, p. 1.
Witcher, S. Karene, “New Exchange Plans Commodity Trading Through Computers: Intex Won't Have Noisy Floor When it Offers Contracts on Gold and Bonds”, Update: The Wall Street Journal, Thursday, Aug. 5, 1982, p. 1.
Gampetro, Tony, “Intex Unveils Trade Contracts”, Journal of Commerce, Thursday, Aug. 5, 1982, p. 1.
“Testimony of K. Richard B. Niehoff, President of Cincinnati Stock Exchange”, Washington, D.C. Sep. 24, 1979, pp. 1-10.
Peake, Mendelson, and Williams, “the National Book System, An Electrically Assisted Auction Market”, (Together with letter of transmittal to the Securities and Exchange Commission, In response to Release No. 12159/Mar. 2, 1976), Apr. 30, 1976, 114 pages.
“A Feasibility Study for the Toronto Stock Exchange”, Jun. 12, 1970, pp. 1-165 and Appendix 1-14.
“Good-bye to the pits?, Intex may not put the commodity pits out of business, but lots of members have signed up -- just in case it catches on”, Financial World, Feb. 28, 1983, pp. 35-37.
Morris, John, “Contracts are Listed for Bermuda's Exchange”, American Banker, Oct. 20, 1981, 4 pages.
“INTEX, This new Exchange is the fastest and most accurate futures trading system anywhere-and it's world-wide. That's INTEX. Yes, that's INTEX”, Bermuda, Jun. 17, 1982, p. 1.
“INTEX Update for Members”, Sep. 15, 1982, pp. 1-2.
“The U.S. National Market System: Progress, Problems, and Issues”, Remarks by William M. Batten, Nov. 13, 1980, pp. 1-23.
“News Release, The New York Stock Exchange, NYSE Chairman Cites Progress On National Market System”, Sep. 24, 1979, pp. 1-4.
“Remarks by William M. Batten, Chairman, New York Stock Exchange, Inc. Before the Committee on Oversight and Investigations and the Subcommittee on Consumer Protection and Finance of the Committee on Interstate and Foreign Commerce of the House of Representatives”, Sep. 24, 1979, pp. 1-6.
“An Assessment of Progress Toward the Development of a National Market System”, Sep. 24, 1979, pp. 1-20.
“House Scrutinizes Pace of National Market System Formualtion,” Securities Industry Association, Washington Report, Oct. 1, 1979, p. 1.
Melton, William C., “Corporate Equities and the National Market System,” Federal Reserve Bank of New York, vol. 3, No. 4, 1978-79, pp. 13-25.
“Memo to All NASD Members, regarding Commencement of Trade Reporting in National Market System Tier 1 Securities”, Feb. 12, 1982, 10 pages.
“First Annual National Market System Conference”, Plaza Hotel New York, Jun. 15-17, 1978, pp. 1-90.
Fuller and Simon, “The National Market System In Perspective: A Selective Outline of Significant Events”, May 15, 1978, 56 pages.
Melton, William C., “Corporate Equities and the National Market System”, FRBNY Quarterly Review/Winter 1978-79, pp. 13-25.
“The Battle for a National Market System”, Wall Street Journal, Tuesday, Jun. 1, 1982, p. 1.
Williams, Harold M., “The National Market System in Perspective”, Dec. 1, 1977, pp. 1-22.
“Instructions for Trade Reporting and entry of Size in the Nasdaq/National Market System”, Feb., 1982, 20 pages.
“A Report of Progress on National Market System
Chadid Mazen
Freeman Elizabeth D.
Hira Mahesh G.
Kelly Matthew J.
Wilcox Robert J.
Brinks Hofer Gilson & Lione
Chicago Mercantile Exchange
Kramer James
Poe Kevin
LandOfFree
System and method for monitoring trades outside of a no-bust... does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with System and method for monitoring trades outside of a no-bust..., we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and System and method for monitoring trades outside of a no-bust... will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-4043018