| 序号 | 专利名 | 申请号 | 申请日 | 公开（公告）号 | 公开（公告）日 | 发明人 |
|---|---|---|---|---|---|---|
| 41 | 一种做市行情库的分发方法 | CN201910493209.9 | 2019-06-06 | CN110275906B | 2023-04-18 | 何浩明; 王敏婷; 张登宝; 谭杰; 严响明; 张琛琛; 刘晓丹 |
| 本发明公开了一种做市行情库的分发方法，包含以下步骤：A、行情前置机将做市信息发送给主站；B、行情前置机按行情周期将做市行情总库信息推送给主站；C、主站将做市信息和做市行情总库信息接收后，检查数据完整性，并保存在内存中；D、主站根据小站的配置文件中的小站的配置信息和收到的做市的信息，按照交易单元做匹配，生成小站做市表；E、主站根据小站做市表，从做市行情总库信息中过滤出小站的做市行情虚表；F、主站根据私库到总库的索引映射表中的索引映射关系，到做市行情总库获取实际的做市行情数据；G、主站给行情网关发生做市行情数据下发给行情网关；H、行情网关接收到做市行情数据后，供券商/做市商柜台系统读取和处理。 | ||||||
| 42 | RESERVE ORDER IN AN ELECTRONIC GUARANTEED ENTITLEMENT ENVIRONMENT | PCT/US2007016718 | 2007-07-25 | WO2008024172A3 | 2008-06-19 | ADCOCK PAUL; CORMACK MICHAEL; FARNSTROM AMY; HALLER THOMAS F; HILL ROBERT |
| An enhanced system and method for handling, matching and executing reserve orders in an electronic options environment is disclosed. Market maker entitlements are integrated with the reserve order processing, so that the market maker is guaranteed an allocation of the trade if the market maker is at the NBBO when a marketable reserve order is received. Once posted to the order book, only the displayed size of a reserve order is eligible for preferential execution in a market maker entitlement process. | ||||||
| 43 | DISPLAYED AND DARK EQUITY OPTIONS ELECTRONIC ORDER BOOK WITH MARKET MAKER PARTICIPATION | PCT/US2007016572 | 2007-07-24 | WO2008013776A3 | 2008-09-04 | ARMSTRONG PETE; FARNSTROM AMY; WERTS JON |
| An enhanced system and method for executing options trades are disclosed. The lead market maker entitlements are integrated with sophisticated order types, including dark order types, so that the lead marker maker is guaranteed an allocation of the trade if the lead market maker is at the NBBO when an order priced at or better than the NBBO is received. The lead market maker is not provided an opportunity to price improve to execute with a specific incoming order. Additionally, market makers who are not the lead market maker in an option series may be granted the privileges of a lead market maker for the purpose of executing with a specific incoming directed order if the designated market maker is at the NBBO when a directed order priced at or better than the NBBO is received. The system and method disclosed encourages market makers to quote the best price possible, which in turn has the effect of narrowing spreads. Furthermore, as only displayed orders at the NBBO are eligible to execute ahead of market makers quoting at the NBBO, the system and method encourages users to display their best prices and sizes to the marketplace. | ||||||
| 44 | DISCRETIONARY ORDER IN AN ELECTRONIC GUARANTEED ENTITLEMENT ENVIRONMENT | PCT/US2007/016856 | 2007-07-27 | WO2008013916A2 | 2008-01-31 | ADCOCK, Paul; CORMACK, Michael; FARNSTROM, Amy; HALLER, Thomas, F.; HILL, Robert |
An enhanced system and method for handling, matching and executing discretionary orders in an electronic options environment is disclosed. Market maker entitlements are integrated with the discretionary order processing, so that the market maker is guaranteed an allocation of the trade if the market maker is at the NBBO when an incoming discretionary order priced at or better than the NBBO is received. If the incoming discretionary order cannot execute at the NBBO using its display price, then it will use as much discretion as is required to participate in a market maker entitlement if the market maker is quoting at the NBBO, and to execute against the order book and route to away markets quotations at the NBBO. Once posted to the order book, only the display price of a discretionary order is eligible for preferential execution in a market maker entitlement process. |
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| 45 | 自动竞价协议处理器 | CN97193786.9 | 1997-12-03 | CN1216131A | 1999-05-05 | S·A·弗雷泽; H·卢特尼克; B·保罗 |
| 一种数据处理系统,用于对诸如固定收益证券之类的专门项目实行基于竞价交易的交易管理。该数据处理系统提供通过一序列交易规范而执行的高度结构化交易协议。一旦发出经过适当格式化(130)的在线市场数据(115)用于确定实时命令选择(140),那么就被载入有价证券数据库(160)。在选择特权和期货的自动处理(170和180)中,系统的所有人获得依照各个有价证券的选择特权和期货交易合同对有价证券进行定量和评价的数据。有价证券数据对数据积累商和卖主的分配遵循有价证券数据对投资界(200)中交易商的连续分配、自动交易(210)以及与包括清算操作者(220)在内的这种交易有关的最终声明和报告功能的支持。系统采用将多个公共程序控制的工作站联系在一起的分布式计算机处理网络。协议及其程序化控制逻辑提高了交易效率、使做市商得益、公平地将市场机会分配给系统用户。 | ||||||
| 46 | Systems and methods for an auto security monitor that makes markets | EP02253353.3 | 2002-05-14 | EP1265178A1 | 2002-12-11 | Crazioso, Timothy,; Khalfan, Asif,; Ilkanayev, Daniel; Jian, Hweider,; Marber Philip, |
Systems and methods that can fully automate the market making process while still retaining the ability to integrate manually entered orders are provided. A market mover application is also provided that can reduce a market maker's exposure to market making activities by generating BEST bid and ask quotations. Additionally, the quantity of these generated BEST quotations are minimized, while the price of these generate BEST quotations are maximized with respect to the amount of change allowed by the exchange or desired by the market maker. |
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| 47 | SYSTEM AND METHOD FOR MANAGING TRADING ORDERS RECEIVED FROM MARKET MAKERS | US13493542 | 2012-06-11 | US20130091048A1 | 2013-04-11 | Nigel J. RENTON; Michael SWEETING |
| According to one embodiment, a method of managing trading is provided. A first offer for a particular instrument in a particular market is received from a first market maker at a first offer price. A first bid for the same particular instrument in the same particular market is received from a second market maker at a first bid price, the first bid price being higher than or equal to the first offer price. As a result of the first bid price being higher than or equal to the first offer price, the first offer price is automatically increased to a price higher than the first bid price such that a trade is not executed between the first offer and the first bid. In some embodiments, such method may be used to protect market makers from unwanted trades caused by inherent latency in the market makers' pricing engines and/or networks. | ||||||
| 48 | DIVERSE OPTIONS ORDER TYPES IN AN ELECTRONIC GUARANTEED ENTITLEMENT ENVIRONMENT | PCT/US2007016857 | 2007-07-27 | WO2008013917A2 | 2008-01-31 | ADCOCK PAUL; CORMACK MICHAEL; FARNSTROM AMY; HILL ROBERT |
| An enhanced system and method for handling, matching and executing a diverse group of limit-priced orders in an electronic options environment is disclosed. Most of the order types disclosed are automatically repriced and reposted as the NBBO changes to increase their execution opportunities. Market maker entitlements are integrated with the order processing, so that the market maker is guaranteed an allocation of the trade if the market maker is at the NBBO when an order priced at or better than the NBBO is received. Once posted to the order book, the displayed price of an order may be eligible for preferential execution in a market maker entitlement process, regardless of whether the displayed price is original or has been automatically repriced. | ||||||
| 49 | トレードオーダパラメータを構成するシステム及び方法 | JP2015179459 | 2015-09-11 | JP2016028329A | 2016-02-25 | スティーブン・ジェイ・キャロル; スティーブン・ピー・デッカー; バラット・ミタル |
| 【課題】トレードオーダパラメータをより正確に且つ迅速に構成する。 【解決手段】トレーダ、ブローカ若しくはマーケットメーカが予め構成したオーダパラメータを登録し、選択されたカスタマ及び取引可能及びオブジェクトに基づき、トレーディングシステムでオーダパラメータを評価し、どのトレードオーダパラメータが最もマッチするか判別し、オーダエントリウインドウに最良のマッチに関連する特定のトレードオーダパラメータを動的投入する。 【選択図】図7 |
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| 50 | Foreign exchange transaction system | JP2009219366 | 2009-09-24 | JP2009295193A | 2009-12-17 | SAITO JIRO |
| <P>PROBLEM TO BE SOLVED: To actualize a foreign exchange transaction system which makes a foreign exchange transaction including a foreign exchange margin trading transaction on exchange. <P>SOLUTION: The foreign exchange transaction system has a swap point processing means to compute swap point values applied to a short position and a long position in a bourse exchange transaction, by receiving swap point information about a short position which each market maker presents in the bourse exchange transaction materialized between a market maker and an orderer, and the swap point information about the long position. The swap point processing means computes a totalizing value in each of the short position and the long position from each market maker's position, distinguishes a position of the larger one as the whole market maker's position side among totalizing values of the short position and the long position, and computes the swap point value applied commonly to the short position and the long position of the bourse exchange transaction, using each swap point of two or more market makers related with the short position or the long position determined as the position side. <P>COPYRIGHT: (C)2010,JPO&INPIT | ||||||
| 51 | Network and method for trading derivatives | US12754901 | 2010-04-06 | US08484103B2 | 2013-07-09 | Neal Brady; Noah Carey; William R. Erwin; John Gilmore; Michael Quattrocki; Frank Stone; Mark Thornburgh |
| A computer network and method for electronically trading derivatives. The system includes networks and methods where a control or network managing station in the network acts as a facilitator for the market makers and subscribers to make a trade at an Exchange. In another embodiment the network managing station consummates the trade between a market maker and a subscriber by matching binding quotes and orders and clears the trade at an Exchange. The computer network for electronically trading derivative comprises: (a) network managing station; (b) one or more market maker stations; (c) one or more subscriber stations; (d) one or more Exchanges. The network managing station connects market makers and subscribers for making real time indicative quotes, issuing requests for quotes, obtaining binding quotes and wherein the market maker and subscriber are in communication with an Exchange for sending binding quotes and orders to the Exchange for clearing and confirming transactions. | ||||||
| 52 | HYBRID TRADING PLATFORM INTEGRATING FIAT AND CRYPTO INVESTMENTS | US15046994 | 2016-02-18 | US20170243289A1 | 2017-08-24 | Christopher Michael RUFO |
| A hybrid trading platform integrating fiat and crypto investments through multiple secure exchanges is provided. The hybrid trading platform manages the flow of information, in part, through market maker and technician modules adapted to provide greater liquidity and quell volatility. | ||||||
| 53 | Network and method for trading derivatives by providing enhanced RFQ visibility | US11646863 | 2006-12-28 | US20070118462A1 | 2007-05-24 | Neal Brady; Noah Carey; William Erwin; John Gilmore; Michael Quattrocki; Frank Stone; Mark Thornburgh |
| A computer network and method for electronically trading derivatives. One preferred method of trading includes providing indicative quotes to market participants (which typically includes subscribers, but may also include market makers) to provide a non-binding indication of how the market makers are likely to price the particular derivative. A participant may then submit an RFQ, which is a request for a binding quote for the derivative. The RFQ preferably causes the current order book to be displayed on all subscribers' terminals, typically in the form of a row indicating the derivative of interest along with the current binding bid and binding ask prices. The indicative bid and ask prices may also be displayed, as well as the quantity (if any) requested in the RFQ. Market participants may then elect to submit an order for the corresponding derivative. Typically, the market participants will await an indication that a market maker has submitted a binding quote. | ||||||
| 54 | Diverse options order types in an electronic guaranteed entitlement environment | US13068881 | 2011-05-23 | US20110231298A1 | 2011-09-22 | Paul Adcock; Michael Cormack; Amy Famstrom; Robert Hill |
| An enhanced system and method for handling, matching and executing a diverse group of limit-priced orders in an electronic options environment is disclosed. Most of the order types disclosed are automatically repriced and reposted as the NBBO changes to increase their execution opportunities. Market maker entitlements are integrated with the order processing, so that the market maker is guaranteed an allocation of the trade if the market maker is at the NBBO when an order priced at or better than the NBBO is received. Once posted to the order book, the displayed price of an order may be eligible for preferential execution in a market maker entitlement process, regardless of whether the displayed price is original or has been automatically repriced. | ||||||
| 55 | Systems and methods for bid/offer spread trading | EP02252166.0 | 2002-03-26 | EP1246111A2 | 2002-10-02 | Gilbert, Andrew C.; Stergiopoulos, Andrew |
A bid/offer spread market is presented that allows a trader to increase liquidity in traded items. A bid/offer spread market maker may make a bid/offer spread market. This bid/offer spread market may be made available to any market participant. In response to the spread market, an aggressor may respond to a bid or an offer with a hit or a take, respectively. In response to the hit or the take, the aggressor or bid/offer spread market maker, respectively, may create a separate underlying market using the selected (bid or offer) spread within a specified amount of time. The other party, a bid/offer spread trader, may trade on the quoted price within a specified amount of time, at which point a trade has occurred. |
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| 56 | SYSTEM AND METHOD FOR SECURITIES LIQUIDITY FLOW TRACKING, DISPLAY AND TRADING | PCT/US2008/051127 | 2008-01-16 | WO2008089213A2 | 2008-07-24 | DISALVO, Dean |
A method, system and computer program that receives, processes, and displays level one, level two, and time and sales securities data. Through a variety of charts, the data is analyzed to identify liquidity trade imbalances and trends in trading liquidity. A logic based trading algorithm utilizes the current market maker activity information and the historical liquidity tiers to execute trades automatically. |
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| 57 | SYSTEM AND METHOD FOR SECURITIES LIQUIDITY FLOW TRACKING, DISPLAY AND TRADING | PCT/US2008051127 | 2008-01-16 | WO2008089213A3 | 2008-10-16 | DISALVO DEAN |
| A method, system and computer program that receives, processes, and displays level one, level two, and time and sales securities data. Through a variety of charts, the data is analyzed to identify liquidity trade imbalances and trends in trading liquidity. A logic based trading algorithm utilizes the current market maker activity information and the historical liquidity tiers to execute trades automatically. | ||||||
| 58 | SECURITIES MARKET AND MARKET MAKER ACTIVITY TRACKING SYSTEM AND METHOD | PCT/US2005004788 | 2005-02-16 | WO2005081827A3 | 2007-03-08 | CUTLER STEPHEN; MACKENZIE III WILLIAM |
| A method, system and computer program to monitor securities market activity to seek out imbalances in market activity that could lead to a price change in a particular security. Level 1 and/or level 2 data is analyzed to track the activity of market makers and to derive indicators of momentary upward or downward price pressure. The indicators can be displayed to a user. | ||||||
| 59 | SYSTEM AND METHOD FOR SECURITIES LIQUIDITY FLOW TRACKING, DISPLAY AND TRADING | PCT/US2006013238 | 2006-04-10 | WO2006113195A2 | 2006-10-26 | |
| A method, system and computer program that receives, processes, and displays level one, level two, and time and sales securities data. Through a variety of charts, the data is analyzed to identify liquidity trade imbalances and trends in trading liquidity. A logic based trading algorithm utilizes the current market maker activity information and the historical liquidity tiers to execute trades automatically. | ||||||
| 60 | SYSTEM AND METHOD FOR IMPLEMENTING AN ANONYMOUS TRADING METHOD | PCT/US2007/011673 | 2007-05-16 | WO2008008119A2 | 2008-01-17 | SWANSON, Steve; GREIM, Julian; STETCH, Nicholas |
A system and appertaining method are provided in which a brokerage firm transmits confidential information about security trading intentions to an anonymous server that follows through on a trade only if there is a likelihood that the trade can be completed. Pricing inputs are obtained that help a price engine determine pricing information for securities. The trade itself is executed by a primary trading system. If the trade is not completed, then the confidential information is not shared with a market maker or other purchasing or selling entity. When security is low and trust is high, for speed purposes, among other things, the anonymous server may be located with a market maker. When security is high and trust is low, any or all of the anonymous server, price engine, and primary trading system can be collocated on site with the broker in a secure environment. |
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