Trading tools for electronic trading

• US 10,185,994 B2
• Filed: 09/25/2017
• Issued: 01/22/2019
• Est. Priority Date: 03/02/2000
• Status: Expired due to Fees

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Kemp, II, Gary Allan, Schluetter, Jens-Uwe, Burns, Michael J., Singer, Scott F., Brumfield, Harris C.
• Primary Examiner(s): Austin, Jamie H
• Application Number:
  US15/714,796
• Publication Number:
  US 20180012303A1
• Time in Patent Office: 484 Days
• Field of Search: 705 37, 705 35
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Tools for trading and monitoring a commodity on an electronic exchange using a graphical user interface and a user input device. The tools will aid the trader in determining the status, trends in the market, and the trader'"'"'s position in the market.

Claims

1. A non-transitory computer readable medium having stored therein instructions executable by a processor, including instructions executable to:

display an entered order indicator representing a plurality of entered orders entered by a user at an electronic exchange for a commodity, wherein the plurality of entered orders are for the commodity at a first price level, wherein the entered order indicator is displayed in a first location aligned with an axis corresponding to the first price level;

receive a command from the user that moves the entered order indicator to a second location aligned with the axis;

receive market data indicating that quantity for an order of the plurality of entered orders has been at least partially filled while the command that moves the entered order indicator is being received;

modify an order quantity for at least one new order based on the received market data;

determine a second price level based on the second location aligned with the axis in response to receiving the command that moves the entered order indicator;

send a remove command to the electronic exchange to remove the plurality of entered orders for the commodity at the first price level in response to receiving the command that moves the entered order indicator; and

send an enter command to the electronic exchange to enter the at least one new order for the commodity based on the modified order quantity at the determined second price level in response to receiving the command that moves the entered order indicator.

2. The computer readable medium of claim 1, wherein the axis is a static axis.

3. The computer readable medium of claim 1, wherein the axis is a value axis.

4. The computer readable medium of claim 3, wherein the axis is a price axis.

5. The computer readable medium of claim 4, wherein the axis is a consolidated price axis, wherein the consolidated price axis includes a plurality of consolidated price levels, wherein the second price level is one of the plurality of consolidated price levels, wherein each consolidated price level is associated with a plurality of price levels for the commodity.

6. The computer readable medium of claim 5, wherein the enter command divides the modified order quantity for the at least one new order between the plurality of price levels for the commodity associated with the consolidated price level corresponding to the second location.

7. The computer readable medium of claim 1, further including instructions executable to:

display an order entry region including a plurality of order entry locations, wherein each order entry location corresponds to a price level along the axis, wherein each order entry location is selectable by a user input device so as to receive a command to send an order message to enter an order for the commodity at a price level corresponding to the selected order entry location.

8. The computer readable medium of claim 7, wherein the command to send an order message is received from a single action of the user input device.

9. The computer readable medium of claim 1, further including instructions executable to:

display a current status for the plurality of entered orders for the commodity, wherein the current status includes a total quantity of the plurality of entered orders for the commodity currently working at the first price level, wherein the total quantity is updated dynamically based on market information received for the commodity.

10. The computer readable medium of claim 9, wherein the current status is displayed as part of the entered order indicator.

11. The computer readable medium of claim 9, wherein the current status includes a filled quantity of the plurality of entered orders for the commodity that have been bought or sold since at least one of the entered orders was entered, wherein the filled quantity is updated dynamically based on market information received for the commodity.

12. The computer readable medium of claim 1, wherein the command that moves the entered order indicator is received as a result of a drag and drop action by a user.

13. The computer readable medium of claim 1, wherein the command that moves the entered order indicator includes a mouse click down on the entered order indicator, moving the entered order indicator to the second location while the mouse is clicked down, and a mouse click up to release the entered order indicator at the second location.

14. The computer readable medium of claim 1, wherein the command that moves the entered order indicator includes a mouse click down on the entered order indicator and moving the entered order indicator to the second location while the mouse is clicked down.

15. The computer readable medium of claim 1, wherein the remove command and the enter command are sent as separate commands.

16. The computer readable medium of claim 1, wherein the remove command and the enter command are sent as a single command.

17. The computer readable medium of claim 16, wherein the single command is a cancel and replace command.

18. The computer readable medium of claim 1, wherein the at least one new order for the commodity is a single new order for the commodity.

19. The computer readable medium of claim 1, wherein the at least one new order for the commodity includes a new order corresponding to each of the plurality of entered orders.