Two sided trading orders

• US 10,354,322 B2
• Filed: 10/18/2001
• Issued: 07/16/2019
• Est. Priority Date: 10/18/2001
• Status: Expired due to Fees

• Current Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Original Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Inventors: Gilbert, Andrew C., Stergiopoulos, Andrew
• Primary Examiner(s): Kim, Steven S
• Assistant Examiner(s): Winter, John
• Application Number:
  US99/827,09
• Time in Patent Office: 6,480 Days
• Field of Search: 705 35, 705 37, 705 1, 705 25, 705 26
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Systems and methods for instantly quoting a two-sided market. Using these systems and methods, a trader can use various trading interfaces to initiate two-sided market orders based on a value submitted and a pre-set spread amount as configured by the trader.

Claims

1. An apparatus comprising

a display device;

at least one processor to;

render on the display device a cell comprising a bid size, a bid price, an offer size and an offer price for an instrument on a graphical user interface;

detect selection within the cell of the bid price or the offer price for the instrument;

render a dialog window on the display device with a bid button, an offer button, a bid size field pre-populated with the bid size, a bid price field pre-populated with the bid price, an offer size field pre-populated with the offer size, and an offer price field pre-populated with the offer price;

automatically reposition a pointer immediately above the bid button of the dialog window, if the bid price was selected within the cell;

automatically reposition a pointer immediately above the offer button of the dialog window, if the offer price was selected within the cell;

detecting entry of another bid price or offer price;

automatically populating the bid price field with a new bid price in response to detecting the entry, the new bid price being based on the pre-set spread amount and the entered offer price; and

automatically populating the offer price field with a new offer price in response to detecting the entry, the new offer price being based on a pre-set spread amount and the entered bid price;

detect a selection of the bid button or the offer button; and

generate a bid command and an offer command for the instrument simultaneously, in response to the selection of the bid button or the offer button.

2. The apparatus of claim 1, wherein the at least one processor is further configured to detect a selection of the bid button and submit a bid for the instrument to an electronic network, in response to the selection of the bid button.

3. The apparatus of claim 1, wherein the at least one processor is further configured to detect a selection of the offer button and submit an offer for the instrument to an electronic network, in response to the selection of the offer button.

4. The apparatus of claim 1, wherein the at least one processor is further configured to detect input of a change in the bid price of the dialog window.

5. The apparatus of claim 1, wherein the at least one processor is further configured to detect input of a change in the offer price of the dialog window.

6. The apparatus of claim 1, wherein the at least one processor is further configured to detect input of a change in the offer price of the dialog window.

7. The apparatus of claim 1, wherein the at least one processor is further configured to detect a selection of the bid button and submit a bid and corresponding offer for the instrument to an electronic network, in response to the selection of the bid button.

8. The apparatus of claim 1, wherein the at least one processor is further configured to detect a selection of the offer button and submit an offer and a corresponding bid for the instrument to an electronic network, in response to the selection of the offer button.

9. The apparatus of claim 1, wherein the at least one processor is configured to rearrange buttons on the dialog window.

10. A method comprising:

rendering, by at least one processor, on a display device a cell comprising a bid size, a bid price, an offer size, and an offer price for an instrument on a graphical user interface;

detecting, by the at least one processor, a selection within the cell of the bid price or the offer price for the instrument;

rendering, by the at least one processor, a dialog window on the display device with a bid button, an offer button, a bid size field pre-populated with the bid size, a bid price field pre-populated with the bid price, an offer size field pre-populated with the offer size, and an offer price field pre-populated with the offer price;

automatically repositioning, by the at least one processor, a pointer immediately above the bid button of the dialog window, if the bid price within the cell was selected; and

automatically repositioning, by the at least one processor, a pointer immediately above the offer button of the dialog window, if the offer price within the cell was selected;

detecting entry of another bid price or offer price;

automatically populating the bid price field with a new bid price in response to detecting the entry, the new bid price being based on the pre-set spread amount and the entered offer price; and

automatically populating the offer price field with a new offer price in response to detecting the entry, the new offer price being based on a pre-set spread amount and the entered bid price;

detecting, by the at least one processor, a selection of the bid button or the offer button; and

generating, by the at least one processor, a bin command and an offer command for the instrument simultaneously, in response to the selection of the hid button or the offer button.

11. The method of claim 10, further comprising detecting, by the at least one processor, a selection of the bid button and submit a bid for the instrument to an electronic network, in response to the selection of the bid button.

12. The method of claim 10, further comprising detecting, by the at least one processor, a selection of the offer button and submit an offer for the instrument to an electronic network, in response to the selection of the offer button.

13. The method of claim 10, further comprising detecting, by the at least one processor, input of a change in the bid price of the dialog window.

14. The method of claim 10, further comprising detecting, by the at least one processor, input of a change in the offer price of the dialog window.

15. The method of claim 10, further comprising detecting, by the at least one processor, input of a change in the offer price of the dialog window.

16. The method of claim 10, further comprising detecting, by the at least one processor, a selection of the hid button and submitting, by the at least one processor, a bid and corresponding offer for the instrument to an electronic network, in response to the selection of the bid button.

17. The method of claim 10, further comprising detecting, by the at least one processor, a selection of the offer button and submitting, by the at least one processor, an offer and a corresponding hid for the instrument to an electronic-network, in response to the selection of the offer button.

18. The method of claim 10, further comprising rearranging, by the at least one processor, buttons on the dialog window.