Methods and apparatus for compiling, processing and disseminating equity transaction data
First Claim
1. A system for distributing data describing trading activity occurring on a plurality of different Electronic Communications Networks, each of which receives buy and sell orders from stock traders and each of which performs equity sales transactions based on said orders, said system comprising, in combination:
- a first communications interface for receiving trading data describing pending buy and sell orders and executed transactions from each of said Electronic Communications Networks, means for reformatting said trading data into a standard format, means for combining said trading data in said standard format to form consolidated trading data, a database for storing said consolidated trading data, means for accepting a request specification, means for extracting a portion of said consolidated trading data from said database in accordance with said request specification to create response data, and a second communications interface for transmitting said response data to a remotely located system user.
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Abstract
A system for distributing data describing trading activity occurring on a plurality of different Electronic Communications Networks (ECNs), each of which receives buy and sell orders from stock traders and each of which performs equity sales transactions based on the received orders. Live data fed from each ECN describing pending buy and sell orders and executed transactions on each exchange are reformatted into standard form and aggregated to create, update and maintain consolidated trading data that is stored in a database. In response to one or more request specifications received from a remotely located user, the system extracts and processes selected portions of the consolidated data to produce response data returned to the requestor. This requested data may include streaming ticker tape and stock status data describing the status of all or a selected subset of stocks being actively traded on the multiple ECNs; an index value representative of the current selling price of a predetermined group of securities being traded on the multiple ECNs, depth-of-book data describing the current best pending offers to buy and sell one or more selected securities, and news stories concerning the securities being traded, including artificially generated natural language text news which is automatically produced by items of consolidated ECN data that satisfies predetermined conditions which define “newsworthy” events.
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Citations
17 Claims
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1. A system for distributing data describing trading activity occurring on a plurality of different Electronic Communications Networks, each of which receives buy and sell orders from stock traders and each of which performs equity sales transactions based on said orders, said system comprising, in combination:
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a first communications interface for receiving trading data describing pending buy and sell orders and executed transactions from each of said Electronic Communications Networks, means for reformatting said trading data into a standard format, means for combining said trading data in said standard format to form consolidated trading data, a database for storing said consolidated trading data, means for accepting a request specification, means for extracting a portion of said consolidated trading data from said database in accordance with said request specification to create response data, and a second communications interface for transmitting said response data to a remotely located system user. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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Specification