Method for market making
First Claim
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1. A method of market making in an asset trading system, comprising the steps of:
- (a) receiving asset price data;
(b) receiving current system position information;
(c) receiving quote request information;
(d) storing said received asset price data, said received current system position information, and said received quote request information in a computer-readable medium;
(e) calculating target position information for each of one or more trading models;
(f) storing said calculated target position information in a computer-readable medium; and
(g) calculating a bid/ask quote in response to said received quote request information, said calculation of a bid/ask quote being based on said asset price data, said quote request information, said current system position information, and said target position information.
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Abstract
A preferred embodiment of the subject invention automates the market making process for currency trading. When a quote request for a currency is received from a client (preferably over a computer network such as the Internet), software of a preferred embodiment calculates a real-time bid and ask price for the currency. The subject invention is applicable to any asset for which market making is appropriate, and is not restricted to currency exchange.
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Citations
38 Claims
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1. A method of market making in an asset trading system, comprising the steps of:
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(a) receiving asset price data;
(b) receiving current system position information;
(c) receiving quote request information;
(d) storing said received asset price data, said received current system position information, and said received quote request information in a computer-readable medium;
(e) calculating target position information for each of one or more trading models;
(f) storing said calculated target position information in a computer-readable medium; and
(g) calculating a bid/ask quote in response to said received quote request information, said calculation of a bid/ask quote being based on said asset price data, said quote request information, said current system position information, and said target position information. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. Computer software, stored in a computer-readable medium, for market making in an asset trading system, comprising software for:
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(a) receiving asset price data;
(b) receiving current system position information;
(c) receiving quote request information;
(d) storing said received asset price data, said received current system position information, and said received quote request information in a computer-readable medium;
(e) calculating target position information for each of one or more trading models;
(f) storing said calculated target position information in a computer-readable medium; and
(g) calculating a bid/ask quote in response to said received quote request information, said calculation of a bid/ask quote being based on said asset price data, said quote request information, said current system position information, and said target position information. - View Dependent Claims (21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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Specification