| 序号 | 专利名 | 申请号 | 申请日 | 公开（公告）号 | 公开（公告）日 | 发明人 |
|---|---|---|---|---|---|---|
| 81 | BINARY OPTION STRUCTURE WITH PERFORMANCE RANKING WITHOUT MARKET MAKER | PCT/IB2011/050773 | 2011-02-24 | WO2011107906A1 | 2011-09-09 | GREATZ, Yochai |
In a binary option structure, trades of buyers do not having counterpart trades of a market maker. Instead, for each order in a series, a digital processor assigns a zero value to orders whose barrier was not hit and for buyers whose barrier was hit calculates a distance between an entry price and the barrier, the digital processor ranking the distances of buyers associated with each order in the series. Upon expiration of the touch option, the digital processor divides the ranking into a winning part and a losing part and calculates payouts to buyers in the winning part by dividing the total investment series, less any commissions, among buyers in the winning part of the ranking. A display structure seen by participants shows current ranking. In response, buyers can move their barrier after placing the order, provided the barrier was not been hit, and without crossing the entry price. |
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| 82 | INTELLECTUAL PROPERTY TRADING EXCHANGE | PCT/US2011026077 | 2011-02-24 | WO2011126616A3 | 2011-12-15 | MALACKOWSKI JAMES E |
| A computerized intellectual property trading exchange is disclosed for facilitating the trading of license contracts relating to intellectual property rights or pools of intellectual property rights. The exchange includes at least one intellectual property license contract relating to intellectual property rights or pools of intellectual property rights and a computer-accessible forum configured to allow a plurality of participants to trade the license contract. The plurality of participants includes at least one seller, which may be the owner, having the license contract and desiring to trade the license contract. The plurality of participants also includes at least one buyer desiring to obtain the license contract. The buyer may be an investor, speculator, market maker, or arbitrageur, who purchases the license contract to achieve appreciation. The buyer also may be a licensee, who purchases the license contract to practice the intellectual property rights. | ||||||
| 83 | METHOD AND APPARATUS FOR MANAGING FINANCIAL TRANSACTIONS INVOLVING MULTIPLE COUNTERPARTIES AND PROCESSING DATA PERTAINING THERETO | PCT/US0318948 | 2003-06-18 | WO2004001533A3 | 2004-07-15 | PENNEY NEILL; WRIGHT DAVID; HASENFUS PAUL |
| Method and apparatus for managing financial transactions for multiple counter parties that allows traders, market makers, dealers, and prime brokers to negotiate with multiple liquidity providers simultaneously, and to receive and respond to transaction processing directives and settlement instructions in real time (100). The invention, which may be accessed over an interconnected data communications network (160), such as the Internet, using a standard Web browser, as well as via a proprietary user interface, automatically provides customers, traders, executing banks, funding banks, prime brokers and liquidity providers with up-to-date settlement and allocation details for previously-executed financial transactions as they are received (110). | ||||||
| 84 | AUTOMATED TRADING SYSTEM FOR ROUTING AND MATCHING ORDERS | US15355952 | 2016-11-18 | US20170287066A1 | 2017-10-05 | Edward T. Tilly; Anthony Montesano; Eileen C. Smith |
| An automated system for matching orders from a virtual trading crowd in an exchange configured for trading securities or derivatives is disclosed including an electronic trade engine operative to receive an order or a quote for a security or derivative at the exchange, the trade engine further operative to disseminate a request for a price message to a plurality of market makers quoting a class in response to receiving the order or the quote, an electronic book in communication with the electronic trade engine, the electronic book operative to store at least one order or quote received by the electronic trade engine, a database including an allocation algorithm, the database in communication with the electronic trade engine, and a trade processor in communication with the database, the trade processor operative to analyze and execute orders or quotes according to the allocation algorithm selected from the database. | ||||||
| 85 | Directed order processing for automated market system | US09903390 | 2001-07-09 | US08296216B2 | 2012-10-23 | Dean Furbush; Richard G. Ketchum; Daniel B. Franks; John Malitzis; Thomas P. Moran; Peter Martyn |
| An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process that receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window a plurality of price levels of a product traded in the market. The market also includes processes to handle lock/cross market conditions, match-off of order flow and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers. | ||||||
| 86 | Derivative Securities And System For Trading Same | US12147972 | 2008-06-27 | US20080256001A1 | 2008-10-16 | Bradley J. McGill |
| The present invention provides a derivative security whose value is determined by whether an underlying instrument will trade above or below a given price at or by a given time. The price of the underlying instrument in the inventive instrument must move a certain amount in a certain direction in a limited amount of time. If it does, that trade yields a fixed amount of money for the acceptor of the contract. If it does not, that acceptor loses the premium he paid for the contract.The inventive derivative securities may have a short-term expiry. The underlying instrument of the inventive derivative may be a stock or other security, or an index or interest rate.The present invention also provides for a system to trade the inventive security that allows any participant to post offers or fill orders from posted offers, with order flow coming from individual investors, institutions, specialists and market makers. | ||||||
| 87 | Network and method for trading derivatives by providing enhanced RFQ visibility | US11646863 | 2006-12-28 | US07272580B2 | 2007-09-18 | Neal Brady; Noah Carey; William R. 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. | ||||||
| 88 | Montage for automated market system | US09401872 | 1999-09-23 | US07181424B1 | 2007-02-20 | Richard G. Ketchum; Stuart Serkin; John Malitzis; Peter Martyn; Debra Peter; Patti Dizenhaus; Doug Brown |
| An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process that receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window a plurality of price levels of a product traded in the market. The market also includes processes to handle lock/cross market conditions, match-off of order flow and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers. | ||||||
| 89 | Odd lot processing in centralized automated market system | US10001240 | 2001-11-14 | US20030093359A1 | 2003-05-15 | Peter Martyn; Karen Peterson |
| An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process. The market has a facility, which receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window, and a plurality of price levels of a product traded in the market. The market also includes processes to handle odd-lot processing and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers. | ||||||
| 90 | Method for monitoring and trading stocks via the internet displaying bid/ask trade bars | US09246304 | 1999-02-08 | US06272474B1 | 2001-08-07 | Crisostomo B. Garcia |
| A method for providing stock information to traders. Stock information is received that includes bid offers, ask offers, the size of the bid offers and the size of the ask offers and the identity of the market makers making each offer. In addition, trade information is received that includes the volume of each trade, the time of each trade, and the price of each trade. The stock information and trade information are displayed on a display screen. The display screen includes a display of bid/ask trade bars for a stock or each of selected number of stocks in which percentage of sales at bid prices and percentage of sales at ask prices are depicted. By considering the display screen, traders are better able to determine trading patterns of the market makers in those selected stocks and increase their probability of buying low and selling high. In a preferred embodiment, the bid/ask trade bars include the following information: the percentage of trades at the ask prices, the percentage of trades at the bid prices, the percentage of trades between the ask and the bid, the bid-to-ask ratio, the volume of trades over a given interval. In a preferred embodiment, the bid/ask bar information can be filtered to represent the trading activity of all of the agents or a specified group of market makers or ECNs. Also, in a preferred embodiment, the stock information and trade information are received at a web site, and the traders who view the display screen are online traders having access to the Internet. | ||||||
| 91 | System and method for calculating optimal rates in a multi-source price engine in over the counter markets | US13462521 | 2012-05-02 | USRE44781E1 | 2014-02-25 | Kelly J. F. Wilson; Cary D. Rosenwald; Sean M. Gilman; Richard Hartheimer |
| A system and method calculate an optimal rates in a multi-source price engine in over the counter (OTC) markets. The system and method integrate rates from multiple liquidity sources to generate an output rate that can be transacted upon. Specifically, the system and method calculate a best bid/offer rate from input rates provided by multiple liquidity sources and apply a target spread and minimum profit to the best bid/offer rate to generate an optimal output rate. The optimal output rate may be a function of many factors, including market conditions, customer credit, and the preferences of the market maker or broker. | ||||||
| 92 | Trading game simulation method | US12259278 | 2008-10-27 | US08043151B2 | 2011-10-25 | Charles Pickelhaupt |
| A trading simulation game that emulates the roles of market makers and traders involved in the securities market. The simulation allows for random market activity by specifying a starting market price and employing a subset of a pool of market-affecting items to modify the starting price and determine the final game price. Items in the subset are incrementally revealed to simulation participants during play, and designated participants may make the first offer to trade. All participants simultaneously make and accept offers to buy and sell the simulated security without restriction, based on the public and private information they have and their dynamic estimates of the final game price. Trades are tracked, and they are settled at the final game price when all items are revealed. The use of a subset of a pool of market-affecting items allows for probability-based strategy similar to popular card games like blackjack and poker. | ||||||
| 93 | METHODS AND SYSTEMS FOR SEARCHING FOR GOODS AND SERVICES | US12978133 | 2010-12-23 | US20110099091A1 | 2011-04-28 | Thomas G. Woolston |
| A method and apparatus for creating a computerized market for used and collectible goods by use of a plurality of low cost posting terminals and a market maker computer in a legal framework that establishes a bailee relationship and consignment contract with a purchaser of a good at the market maker computer that allows the purchaser to change the price of the good once the purchaser has purchased the good thereby to allow the purchaser to speculate on the price of collectibles in an electronic market for used goods while assuring the safe and trusted physical possession of a good with a vetted bailee. | ||||||
| 94 | Montage for Automated Market System | US11625127 | 2007-01-19 | US20070136182A1 | 2007-06-14 | Richard Ketchum; Stuart Serkin; John Malitzis; Peter Martyn; Debra Peter; Patti Dizenhaus; Doug Brown |
| An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process that receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window a plurality of price levels of a product traded in the market. The market also includes processes to handle lock/cross market conditions, match-off of order flow and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers. | ||||||
| 95 | Intellectual property trading exchange and a method for trading intellectual property rights | US11405166 | 2006-04-17 | US20060259315A1 | 2006-11-16 | James Malackowski; Michael Lasinski |
| An intellectual property trading exchange is disclosed for facilitating the trading of intellectual property rights. The exchange includes at least one intellectual property license contract relating to intellectual property rights and a forum configured to allow a plurality of participants to trade the license contract. The plurality of participants includes at least one seller, which may be the owner, having the license contract and desiring to trade the license contract. The plurality of participants also includes at least one buyer desiring to obtain the license contract. The buyer may be an investor, speculator, market maker, or arbitrageur, who purchases the license contract to achieve appreciation. The buyer also may be a licensee, who purchases the license contract to practice the intellectual property rights. | ||||||
| 96 | Electronic completion of cash versus futures basis trades | US10940574 | 2004-09-13 | US20060059077A1 | 2006-03-16 | Richard Goodman; Michael Sweeting |
| An electronic trading system is described herein. More specifically, the electronic trading system may relate to the substantially simultaneous trading of cash instruments and their related futures contracts for interest-rate related instruments. The electronic trading system may also be used to allow a user (such as a market maker or other suitable participant) to gauge his chance of success at completing both sides of a basis trade within a preferably pre-determined or pre-set interval, while knowing in advance the specific weighting algorithm that will be applied to the basis trade. The electronic trading system may also be used to allow a user to predetermine the exact weighting algorithm to be used on such a basis trade, and to adjust those preferences where necessary or desired. | ||||||
| 97 | Network and method for trading derivatives by providing enhanced RFQ visibility | US10685907 | 2003-10-15 | US20040199453A1 | 2004-10-07 | 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. | ||||||
| 98 | Automated market system preferenced orders | US09903389 | 2001-07-09 | US20030009413A1 | 2003-01-09 | Dean Furbush; Richard G. Ketchum; Daniel B. Franks; John Malitzis; Thomas P. Moran; Peter Martyn |
| An electronic market for trading of securities includes a plurality of client stations for entering quotes for securities and a server process that receives quotes from the clients, aggregates the quotes and causes a total of all aggregated quotes to be displayed for a plurality of price levels on the client systems. The market uses a graphical user that depicts aggregated quotes in an aggregate window a plurality of price levels of a product traded in the market. The market also includes processes to handle lock/cross market conditions, match-off of order flow and provides a central quote/order collector that interfaces to disparate order delivery systems to minimize dual liability of market makers. | ||||||
| 99 | ELECTRONIC COMPLETION OF CASH VERSUS FUTURES BASIS TRADES | US15646158 | 2017-07-11 | US20170372423A1 | 2017-12-28 | Richard P. Goodman; Michael Sweeting |
| An electronic trading system is described herein. More specifically, the electronic trading system may relate to the substantially simultaneous trading of cash instruments and their related futures contracts for interest-rate related instruments. The electronic trading system may also be used to allow a user (such as a market maker or other suitable participant) to gauge his chance of success at completing both sides of a basis trade within a preferably pre-determined or pre-set interval, while knowing in advance the specific weighting algorithm that will be applied to the basis trade. The electronic trading system may also be used to allow a user to predetermine the exact weighting algorithm to be used on such a basis trade, and to adjust those preferences where necessary or desired. | ||||||
| 100 | Methodology and System For Creating And Trading A Non-DIsclosed Active Exchange Traded Fund | US14946970 | 2015-11-20 | US20160180462A1 | 2016-06-23 | Robert S. Tull, JR. |
| Methodologies and systems for creating and trading non-disclosed exchange traded funds (“NDETFs”) that provide a means for market makers to monitor trading prices on public exchanges and to create a hedge on the non-disclosed securities that relate to a difference in value of two portfolio composition files (“PCF”), is disclosed. In one embodiment, the NDETF creates a standard PCF used to calculate an indicative intraday value, IIV1, of the ETF. A second PCF, being a pro-rata portion of the holdings of the NDETF at trade date minus one, is formed to calculate a second indicative intraday value, IIV2. The methodology determines the difference between IIV1 and IIV2 which is then used by market makers to create competitive bid/offer spreads on the NDETF and to create a hedge to manage intraday risk between the two IIVs. The final value of NDETF creation and redemption unit is determined after market close. | ||||||
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