WO2007021998A3 - Hidden book trading system and method - Google Patents
Hidden book trading system and method Download PDFInfo
- Publication number
- WO2007021998A3 WO2007021998A3 PCT/US2006/031488 US2006031488W WO2007021998A3 WO 2007021998 A3 WO2007021998 A3 WO 2007021998A3 US 2006031488 W US2006031488 W US 2006031488W WO 2007021998 A3 WO2007021998 A3 WO 2007021998A3
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- server
- orders
- contra
- institutional
- database
- Prior art date
Links
Classifications
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
Abstract
Presented is a system and method for performing crossing of institutional security orders. The system includes a first server interconnected to a second server and client stations across a communication network. The first server includes a database and is configured to receive institutional orders from the client station, which are stored in the database. The first server includes operating instructions operable to determine whether a match exists between contra institutional orders based on predetermined criteria. Upon determination of a match, the first server forwards a child order composed of at least a portion of one of the contra orders to the second server. At a fraction of a second later, the first server forwards the other of the contra orders to the second server followed by the remaining portion of the contra order.
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
US70760705P | 2005-08-12 | 2005-08-12 | |
US60/707,607 | 2005-08-12 |
Publications (2)
Publication Number | Publication Date |
---|---|
WO2007021998A2 WO2007021998A2 (en) | 2007-02-22 |
WO2007021998A3 true WO2007021998A3 (en) | 2007-11-15 |
Family
ID=37758235
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/US2006/031488 WO2007021998A2 (en) | 2005-08-12 | 2006-08-10 | Hidden book trading system and method |
Country Status (2)
Country | Link |
---|---|
US (5) | US7831501B2 (en) |
WO (1) | WO2007021998A2 (en) |
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US7761364B2 (en) * | 2005-09-07 | 2010-07-20 | International Securities Exchange, Llc | Midpoint matching system |
US20070192232A1 (en) * | 2006-02-16 | 2007-08-16 | Andrew Czupek | System and method to create markets and trade intercommodity spreads |
JP5215996B2 (en) * | 2006-05-13 | 2013-06-19 | シーエフピーエイチ, エル.エル.シー. | Products and processes for using order data and related data |
US7606759B2 (en) * | 2006-05-16 | 2009-10-20 | Automated Trading Desk, Llc | System and method for implementing an anonymous trading method |
US8001036B2 (en) * | 2006-05-30 | 2011-08-16 | Altex-Ats Ltd | System for matching orders for futures contracts which facilitate electronic trading of over the counter futures contracts |
US8620759B1 (en) | 2007-05-23 | 2013-12-31 | Convergex Group, Llc | Methods and systems for processing orders |
US8271375B2 (en) * | 2007-10-24 | 2012-09-18 | Nybx, Llc | System and method for integrating a dark trading facility and a securities exchange |
US20100057627A1 (en) * | 2008-09-04 | 2010-03-04 | Lutnick Howard W | Non-firm orders in electronic marketplaces |
US20090307121A1 (en) * | 2008-06-09 | 2009-12-10 | Lutnick Howard W | Trading system products and processes |
US20100057626A1 (en) * | 2008-09-04 | 2010-03-04 | Lutnick Howard W | Cancellation timing in an electronic marketplace |
US8712903B2 (en) * | 2008-09-25 | 2014-04-29 | Cfph, Llc | Trading related to fund compositions |
US8285629B2 (en) * | 2007-11-15 | 2012-10-09 | Cfph, Llc | Trading system products and processes |
US8321323B2 (en) | 2008-10-24 | 2012-11-27 | Cfph, Llc | Interprogram communication using messages related to order cancellation |
US20100076896A1 (en) * | 2008-09-25 | 2010-03-25 | Lutnick Howard W | Substitutability of financial instruments |
US20100082495A1 (en) * | 2008-09-28 | 2010-04-01 | Lutnick Howard W | Trading system accessibility |
AU2008322494B2 (en) * | 2007-11-15 | 2012-07-26 | Cfph, Llc | Electronic trading systems and methods |
US20100082500A1 (en) * | 2008-09-28 | 2010-04-01 | Lutnick Howard W | Interaction with trading systems |
US20100076883A1 (en) * | 2008-09-25 | 2010-03-25 | Lutnick Howard W | Generating risk pools |
US20100191638A1 (en) * | 2009-01-23 | 2010-07-29 | Alderucci Dean P | Multicomputer distributed processing of data related to automation of trading |
US20100332368A1 (en) * | 2009-06-30 | 2010-12-30 | Alderucci Dean P | Multicomputer distributed processing of data regarding trading opportunities |
US8977565B2 (en) | 2009-01-23 | 2015-03-10 | Cfph, Llc | Interprogram communication using messages related to groups of orders |
US20110196775A1 (en) * | 2010-01-01 | 2011-08-11 | Jeffrey Gavin | Systems, Methods, and Media for Controlling the Exposure of Orders to Trading Platforms |
US8781946B2 (en) * | 2010-07-14 | 2014-07-15 | Trading Technologies International, Inc. | Distributed server side device architecture |
US9075858B2 (en) * | 2010-12-16 | 2015-07-07 | Sybase, Inc. | Non-disruptive data movement and node rebalancing in extreme OLTP environments |
US10269067B2 (en) | 2012-12-27 | 2019-04-23 | Nyse Euronext Holdings Llc | Auctioning mechanisms for dark order block trading |
US10304132B2 (en) | 2012-12-27 | 2019-05-28 | Nyse Euronext Holdings Llc | Auctioning mechanisms for dark order block trading |
US20140316961A1 (en) * | 2013-04-23 | 2014-10-23 | Chicago Mercantile Exchange, Inc. | Dynamic Tick Size Order Aggregator |
US10319055B2 (en) * | 2013-06-04 | 2019-06-11 | AppNexus Inc. | Methods and systems for impression inventory trading |
US10032219B2 (en) | 2013-09-24 | 2018-07-24 | Chicago Mercantile Exchange Inc. | Secure exchange feed market data embargo |
WO2015088894A1 (en) * | 2013-12-09 | 2015-06-18 | Chicago Mercantile Exchange Inc. | Secure exchange feed market data embargo |
US9697569B2 (en) | 2013-12-09 | 2017-07-04 | Chicago Mercantile Exchange Inc. | Exchange feed for trade reporting having reduced redundancy |
US10031648B2 (en) * | 2014-12-31 | 2018-07-24 | Trading Technologies International, Inc. | Systems and methods to obfuscate market data on a trading device |
US11257153B2 (en) | 2015-05-06 | 2022-02-22 | Chicago Mercantile Exchange Inc. | Tokens, and the use thereof, for public distribution of messages having a private association with a subset of the message recipients |
KR102655296B1 (en) * | 2015-09-23 | 2024-04-04 | 엠라우트 코포레이션 | Systems and methods for settling multiple payees from a single electronic and/or check payment |
US20180284741A1 (en) | 2016-05-09 | 2018-10-04 | StrongForce IoT Portfolio 2016, LLC | Methods and systems for industrial internet of things data collection for a chemical production process |
US10983507B2 (en) | 2016-05-09 | 2021-04-20 | Strong Force Iot Portfolio 2016, Llc | Method for data collection and frequency analysis with self-organization functionality |
US11327475B2 (en) | 2016-05-09 | 2022-05-10 | Strong Force Iot Portfolio 2016, Llc | Methods and systems for intelligent collection and analysis of vehicle data |
KR102392510B1 (en) | 2016-05-09 | 2022-04-29 | 스트롱 포스 아이오티 포트폴리오 2016, 엘엘씨 | Methods and systems for the industrial internet of things |
US11774944B2 (en) | 2016-05-09 | 2023-10-03 | Strong Force Iot Portfolio 2016, Llc | Methods and systems for the industrial internet of things |
US11411907B2 (en) | 2016-05-16 | 2022-08-09 | Chicago Mercantile Exchange Inc. | Systems and methods for consolidating multiple feed data |
US11237546B2 (en) | 2016-06-15 | 2022-02-01 | Strong Force loT Portfolio 2016, LLC | Method and system of modifying a data collection trajectory for vehicles |
US10121199B1 (en) * | 2017-06-23 | 2018-11-06 | Cfph, Llc | Distributed trading network and interface |
CN209085657U (en) * | 2017-08-02 | 2019-07-09 | 强力物联网投资组合2016有限公司 | For data gathering system related or industrial environment with chemical production technology |
US11442445B2 (en) | 2017-08-02 | 2022-09-13 | Strong Force Iot Portfolio 2016, Llc | Data collection systems and methods with alternate routing of input channels |
US11405404B2 (en) * | 2019-09-06 | 2022-08-02 | International Business Machines Corporation | Dynamic privilege allocation based on cognitive multiple-factor evaluation |
Citations (1)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US20040059666A1 (en) * | 2000-06-01 | 2004-03-25 | Henri Waelbroeck | Confidential block trading system and method |
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US5101353A (en) * | 1989-05-31 | 1992-03-31 | Lattice Investments, Inc. | Automated system for providing liquidity to securities markets |
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-
2006
- 2006-02-03 US US11/347,813 patent/US7831501B2/en not_active Expired - Fee Related
- 2006-08-10 WO PCT/US2006/031488 patent/WO2007021998A2/en active Application Filing
-
2008
- 2008-08-12 US US12/190,357 patent/US20080301036A1/en not_active Abandoned
-
2010
- 2010-10-12 US US12/902,829 patent/US8195560B2/en not_active Expired - Fee Related
-
2011
- 2011-08-02 US US13/196,796 patent/US8131633B2/en not_active Expired - Fee Related
-
2012
- 2012-06-05 US US13/489,212 patent/US20120246055A1/en not_active Abandoned
Patent Citations (1)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US20040059666A1 (en) * | 2000-06-01 | 2004-03-25 | Henri Waelbroeck | Confidential block trading system and method |
Also Published As
Publication number | Publication date |
---|---|
US8131633B2 (en) | 2012-03-06 |
US7831501B2 (en) | 2010-11-09 |
US20070038548A1 (en) | 2007-02-15 |
US8195560B2 (en) | 2012-06-05 |
US20110029424A1 (en) | 2011-02-03 |
US20120246055A1 (en) | 2012-09-27 |
WO2007021998A2 (en) | 2007-02-22 |
US20110307367A1 (en) | 2011-12-15 |
US20080301036A1 (en) | 2008-12-04 |
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