Click based trading with intuitive grid display of market depth
First Claim
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1. A method comprising:
- receiving by a computing device market data for a commodity, the market data comprising a highest bid price, a lowest ask price, and a last traded price;
displaying by the computing device a first indicator in one of a plurality of locations, the first indicator corresponding to the highest bid price, each location of the plurality of locations corresponding to a price level of a plurality of price levels along a price axis;
moving by the computing device the first indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new highest bid price, the different location of the first indicator corresponding to the new highest bid price;
displaying by the computing device a second indicator in one of the plurality of locations, the second indicator corresponding to the lowest ask price;
moving by the computing device the second indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new lowest ask price, the different location of the second indicator corresponding to the new lowest ask price;
displaying by the computing device a third indicator in one of the plurality of locations, the third indicator corresponding to the last traded price;
moving by the computing device the third indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new last traded price, the different location of the third indicator corresponding to the new last traded price;
providing by the computing device an order entry region comprising a plurality of locations, each location in the order entry region corresponding to a price level along the price axis, each location in the order entry region configured to be selected by a single action of a user input device to both (i) set a plurality of parameters for a trade order and (ii) send the trade order to an electronic exchange; and
receiving by the computing device a selection of a location in the order entry region by a single action of the user input device to both (i) set the plurality of parameters for a trade order and (ii) send the trade order to the electronic exchange.
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Abstract
A method and system for reducing the time it takes for a trader to place a trade when electronically trading on an exchange, thus increasing the likelihood that the trader will have orders filled at desirable prices and quantities. The “Mercury” display and trading method of the present invention ensure fast and accurate execution of trades by displaying market depth on a vertical or horizontal plane, which fluctuates logically up or down, left or right across the plane as the market prices fluctuates. This allows the trader to trade quickly and efficiently.
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Citations
56 Claims
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1. A method comprising:
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receiving by a computing device market data for a commodity, the market data comprising a highest bid price, a lowest ask price, and a last traded price; displaying by the computing device a first indicator in one of a plurality of locations, the first indicator corresponding to the highest bid price, each location of the plurality of locations corresponding to a price level of a plurality of price levels along a price axis; moving by the computing device the first indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new highest bid price, the different location of the first indicator corresponding to the new highest bid price; displaying by the computing device a second indicator in one of the plurality of locations, the second indicator corresponding to the lowest ask price; moving by the computing device the second indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new lowest ask price, the different location of the second indicator corresponding to the new lowest ask price; displaying by the computing device a third indicator in one of the plurality of locations, the third indicator corresponding to the last traded price; moving by the computing device the third indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new last traded price, the different location of the third indicator corresponding to the new last traded price; providing by the computing device an order entry region comprising a plurality of locations, each location in the order entry region corresponding to a price level along the price axis, each location in the order entry region configured to be selected by a single action of a user input device to both (i) set a plurality of parameters for a trade order and (ii) send the trade order to an electronic exchange; and receiving by the computing device a selection of a location in the order entry region by a single action of the user input device to both (i) set the plurality of parameters for a trade order and (ii) send the trade order to the electronic exchange. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28)
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29. A non-transitory computer readable medium having stored therein instructions executable by a processor, wherein the instructions are executable to:
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receive market data for a commodity, the market data comprising a highest bid price, a lowest ask price, and a last traded price; display a first indicator in one of a plurality of locations, the first indicator corresponding to the highest bid price, each location of the plurality of locations corresponding to a price level of a plurality of price levels along a price axis; move the first indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new highest bid price, the different location of the first indicator corresponding to the new highest bid price; display a second indicator in one of the plurality of locations, the second indicator corresponding to the lowest ask price; move the second indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new lowest ask price, the different location of the second indicator corresponding to the new lowest ask price; display a third indicator in one of the plurality of locations, the third indicator corresponding to the last traded price; move the third indicator relative to the price axis to a different location of the plurality of locations in response to receiving a new last traded price, the different location of the third indicator corresponding to the new last traded price; provide an order entry region comprising a plurality of locations, each location in the order entry region corresponding to a price level along the price axis, each location in the order entry region configured to be selected by a single action of a user input device to both (i) set a plurality of parameters for a trade order and (ii) send the trade order to an electronic exchange; and receive a selection of a location in the order entry region by a single action of the user input device to both (i) set the plurality of parameters for a trade order and (ii) send the trade order to the electronic exchange. - View Dependent Claims (30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56)
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Specification