Interactive grid-based graphical trading system for real time security trading
First Claim
1. An interactive grid-based graphical trading system for use by any trader who engages in trading securities through established security trading markets, in essentially real time, where the system comprises a grid-based graphical interface for use by any trader, said graphical interface being adapted to establish a connection with any backend system used by any market participant through suitable communication channels;
- wherein said interactive grid-based graphical trading system is available through a computer at each participating trader'"'"'s site;
wherein said interactive grid-based graphical trading system for use by any trader is adapted to receive and display market trading data received from a plurality of market participants, in essentially real time; and
wherein any trader may select any particular securities for which data are electively required, at any instant in time;
wherein said interactive grid-based graphical trading system includes first process means that function to send transaction instructions through said communication channels to the backend system used by any market participant, and to receive messages from said backend system through said communication channels; and
wherein said grid-based graphical interface includes second process means that function to receive, process, and display said market trading data, and said messages, to any trader;
wherein said market trading data includes information chosen from the group of market trading data consisting of;
order data as to buy, sell, or other trading orders existing at that instant in time for any selected security or group of securities, quote data as to bid and ask prices, volume, market participant identifiers, and other parameters, existing at that instant in time for any selected security or group of securities;
wherein said market trading data is transmitted to each said grid-based graphical interface at the site of any participating trader from said backend system of any market participant in computer-readable electronic format;
wherein said interactive grid-based graphical trading system includes third process means that function to transform said market trading data received from any back end system, at any instant in time, into a graphical representation for display on any display device, wherein said graphical representation includes at least one grid having a plurality of cells arranged in an array of at least one row or at least one column;
wherein a row is an arrangement of horizontally adjacent cells with at least one common property, and a column is an arrangement of vertically adjacent cells with at least one common property, and wherein each cell within the said plurality of cells belongs to one row and one column;
wherein said plurality of cells is arranged in a matrix chosen from the group consisting of a plurality of rows and at least one column, and in a plurality of columns and at least one row, and wherein said plurality of rows or said plurality of columns are associated with an axis representing price. wherein any cell is associated with said market trading data, and contains a graphical representation of said market trading data, and is associated with a specific price or range of prices;
wherein each cell along said price axis indicates a price or price range for which said market trading data exists, and the other of said at least one column or said a least one row is indicative of a specific criterion chosen from a plurality of selected criteria within which said market trading data is categorized as to price or a range of prices; and
wherein any trader can place, or modify, an order for a selected security or group of securities, over which that trader has discretion, by interacting with said grid-based graphical interface;
wherein said interaction can be accomplished by a drag and drop operation, and wherein said order or said quote is represented graphically in a cell.
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Accused Products
Abstract
An interactive grid-based graphical trading system for use in securities trading provides a dynamic, visual display of trading data consisting of orders, quotes and indices, for any security and for any number of market participants. The trading data are plotted on a grid consisting of cells arranged in rows and columns, which are associated with specific parameters. Distinct visual presentation styles are used, and differences in the price parameter are represented spatially. The values of the price and other parameters associated with the same orders and quotes are mapped against the values associated with the rows and columns of the grid. A trader may place or modify trading orders by interacting with the trading data displayed on the grid, and with specific GUI objects displayed on the same grid. Trading instructions are generated and transmitted to a market participant, in a manner transparent to the trader.
999 Citations
232 Claims
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1. An interactive grid-based graphical trading system for use by any trader who engages in trading securities through established security trading markets, in essentially real time, where the system comprises a grid-based graphical interface for use by any trader, said graphical interface being adapted to establish a connection with any backend system used by any market participant through suitable communication channels;
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wherein said interactive grid-based graphical trading system is available through a computer at each participating trader'"'"'s site;
wherein said interactive grid-based graphical trading system for use by any trader is adapted to receive and display market trading data received from a plurality of market participants, in essentially real time; and
wherein any trader may select any particular securities for which data are electively required, at any instant in time;
wherein said interactive grid-based graphical trading system includes first process means that function to send transaction instructions through said communication channels to the backend system used by any market participant, and to receive messages from said backend system through said communication channels; and
wherein said grid-based graphical interface includes second process means that function to receive, process, and display said market trading data, and said messages, to any trader;
wherein said market trading data includes information chosen from the group of market trading data consisting of;
order data as to buy, sell, or other trading orders existing at that instant in time for any selected security or group of securities, quote data as to bid and ask prices, volume, market participant identifiers, and other parameters, existing at that instant in time for any selected security or group of securities;
wherein said market trading data is transmitted to each said grid-based graphical interface at the site of any participating trader from said backend system of any market participant in computer-readable electronic format;
wherein said interactive grid-based graphical trading system includes third process means that function to transform said market trading data received from any back end system, at any instant in time, into a graphical representation for display on any display device, wherein said graphical representation includes at least one grid having a plurality of cells arranged in an array of at least one row or at least one column;
wherein a row is an arrangement of horizontally adjacent cells with at least one common property, and a column is an arrangement of vertically adjacent cells with at least one common property, and wherein each cell within the said plurality of cells belongs to one row and one column;
wherein said plurality of cells is arranged in a matrix chosen from the group consisting of a plurality of rows and at least one column, and in a plurality of columns and at least one row, and wherein said plurality of rows or said plurality of columns are associated with an axis representing price. wherein any cell is associated with said market trading data, and contains a graphical representation of said market trading data, and is associated with a specific price or range of prices;
wherein each cell along said price axis indicates a price or price range for which said market trading data exists, and the other of said at least one column or said a least one row is indicative of a specific criterion chosen from a plurality of selected criteria within which said market trading data is categorized as to price or a range of prices; and
wherein any trader can place, or modify, an order for a selected security or group of securities, over which that trader has discretion, by interacting with said grid-based graphical interface;
wherein said interaction can be accomplished by a drag and drop operation, and wherein said order or said quote is represented graphically in a cell. - 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, 29, 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, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 130, 131)
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75. An interactive graphical trading system comprising of a graphical interface adapted to display market trading data received from at least one market participant, wherein said graphical interface establishes connections with any backend systems used by any market participant through communication channels;
- wherein said market trading data includes information chosen from the group of market trading data consisting of;
order data as to buy, sell, or other trading orders, quote data as to bid and ask prices, volume, market participant identifiers, and other parameters, and wherein said market trading data is transmitted to said graphical interface from said back end system in computer-readable electronic format;
wherein said graphical interface includes at least one display panel for graphically presenting market trading data, wherein said market trading data is graphically presented on said at least one display panels;
wherein an intended trading order or a trading order is represented on said at least one display panel by a GUI object, wherein said GUI object is selected and positioned over said at least one display panel, by a user of said graphical interface, using pointing and positioning means for pointing and positioning a GUI object on said graphical interface, and wherein the act of selecting and positioning said GUI object representing said trading order, over said at least one display panel, effects order placement or order modification instructions. - View Dependent Claims (132, 133, 134, 135, 136, 139, 140, 143, 144, 145, 146, 147)
- wherein said market trading data includes information chosen from the group of market trading data consisting of;
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76. An interactive grid-based graphical software object for presenting market trading data, wherein said software object comprising a set of GUI objects, user interaction modes, and program logic;
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wherein said interactive grid based graphical software object is implemented in software made available through a computer at a user'"'"'s location;
wherein said interactive grid-based graphical software object is implemented as a software component, and said software component is incorporated into software applications and is adapted for any specific computing platform;
wherein said interactive grid based graphical software object is adapted to receive and display market trading data from a plurality of market trading data sources, wherein any particular market trading data source may be electively selected at any instant in time;
wherein said set of GUI objects are graphical representations of market trading data received by said interactive grid-based graphical software object, and said set of GUI objects are associated with visual and graphical properties selected from the group consisting of;
color, shape, size, text labels, and combinations thereof;
wherein said user interaction modes represent a set of actions available to a user for interacting with said interactive grid based graphical software object;
such that said user interaction modes affect the graphical representation displayed on said interactive grid-based graphical software object, wherein said user interaction modes are selected from the group consisting of;
right click, double click, and left click using a pointing device, a drag and drop operation, a stylus screen tap, a stylus drag and drop operation, a touch screen tap, shortcut keys, and combinations thereof;
wherein said program logic functions to receive, process, and graphically represent market trading data;
wherein said program logic further functions to receive, process, and interpret user interaction with said software object;
wherein graphical representation includes at least one grid comprised of a plurality of cells arranged in an array of at least one row or at least one column;
wherein a row is an arrangement of horizontally adjacent cells with at least one common property, and a column is an arrangement of vertically adjacent cells with at least one common property, and wherein each cell within the said plurality of cells belongs to one row and one column;
wherein said plurality of cells is arranged in a matrix chosen from the group consisting of;
a plurality of rows and at least one column, and in a plurality of columns and at least one row, and wherein said plurality of rows or said plurality of columns are associated with an axis representing price;
wherein said axis representing price is the price axis;
wherein said visual and graphical properties of GUI objects are altered as a result of changes in the received market trading data and user interaction with said software object;
wherein any cell may be associated with said market trading data, and contains a graphical representation of said market trading data;
wherein said matrix is associated with said market trading data and contains a graphical representation of said market trading data;
wherein each cell along said price axis indicates a price or price range for which said market data exists, and the other of said at least one column or said a least one row is indicative of a specific criterion chosen from a plurality of criteria;
within which said market trading data may be categorized as to price or a range of prices;
wherein said plurality of criteria is from the group consisting of;
a specific security, a group of securities, an index, a market trading participant, a group of market trading participants, a segment of time, and combinations thereof; and
wherein any trader can place or modify an order for a selected security or group of securities, over which said trader has discretion, by interacting with said interactive grid-based graphical software object;
wherein said interaction is accomplished through user interaction modes. - View Dependent Claims (148, 149, 150, 151, 152, 153, 154, 155, 156, 157, 158, 159, 160, 162)
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77. An interactive grid-based graphical quote presentation system for use by any user to receive and display market trading data from any market participant, in essentially real time, said system comprising a grid-based graphical interface for use by any trader, wherein said graphical interface is adapted to establish at least one connection to any market participant through at least one communication channel;
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wherein said interactive grid-based graphical quote presentation system is made available through a computer at any user'"'"'s location;
wherein said interactive grid-based graphical quote presentation system for use by any user is adapted to receive and display market trading data received from a plurality of market participants, essentially in real time, and wherein any user may select any particular securities for which data are electively required, at any instant in time;
wherein said interactive grid-based graphical quote presentation system includes first process means that function to send requests through said communication channels to at least one market trading data source, and to receive messages from said at least one market participant through said at least one communication channel, and wherein said grid-based graphical quote presentation system includes second process means that function to receive, process, and display said market trading data, and said messages;
wherein said market trading data includes information chosen form the group of market trading data consisting of;
quote data as to bid and ask prices, volume, market participant identifiers, and other parameters, existing at that instant in time for any selected security or group of securities;
wherein said market trading data is transmitted to each said interactive grid-based graphical quote presentation system from said market participants in computer-readable electronic format;
wherein said interactive grid-based graphical quote presentation system includes third process means that function to transform said market trading data received from any market trading data sources, at any instant in time, into a graphical representation for display on any display device, wherein said graphical representation includes at least one grid having a plurality of cells in an array of at least one row or at least one column;
wherein a row is an arrangement of horizontally adjacent cells with at least one common property, and a column is an arrangement of vertically adjacent cells with at least one common property, and wherein each cell within said plurality of cells belongs to one row and one column;
wherein said plurality of cells is arranged in a matrix chosen from the group consisting of a plurality of rows and at least one column, and in a plurality of columns and at least one row; and
combinations thereof, and wherein said plurality of rows or plurality of columns are associated with an axis associated with price;
wherein any cell is associated with said market trading data, and contains a graphical representation of said market trading data, and is associated with a specific price or range of prices;
wherein each cell along said price axis indicates a price or price range for which said market trading data exists, and the other of said at least one column or said at least one row is indicative of a selected criteria chosen from a plurality of criteria within which said market trading data is categorized as to price or range of prices; and
wherein any user issues a request for trading information at any instant in time, by interacting with said interactive grid-based graphical quote presentation system, wherein said interaction can effect the issuance of said instructions associated with a request for quote information;
wherein said interaction can be accomplished by at least one interaction modes. - View Dependent Claims (80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93, 94, 95, 96, 97, 98, 99, 163, 165, 166, 167, 169, 172, 174, 175, 176, 179, 181, 182, 183, 185, 186, 188, 189, 190, 191, 193, 194, 196, 200, 201, 202, 203, 204, 205)
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78. A software object providing a graphical representation of trading data originating from at least one data source, wherein said graphical representation of trading data is electively interactive, and wherein said software object is executable by a computer, and comprising:
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(a) first process means for establishing at least one connection with at least one data source, wherein said at least one data source is selected from the group consisting of;
securities exchanges, stock markets, currency markets, commodities exchanges, electronic communication networks (ECNs), brokerage firms, auction houses, data feed providers, market simulation software, trading data published on computer-readable media, and combinations thereof;
wherein said at least one data source is an external to the computer where said software object is executing;
wherein said at least one data source can reside in the same computer where said software object is executing;
(b) second process means for retrieving and receiving trading data from said at least one data source, wherein said trading data is electively retrieved continuously or from time to time;
(c) third process means for transforming said trading data into a form that is suitable for display by said software object;
(d) fourth process means for displaying said trading data by means of at least one visual presentation style; and
(e) fifth process means for receiving and interpreting input from a user of said software object, through selected user interaction modes;
wherein said input causes said software object to automatically generate trading instructions, based on said user'"'"'s specific input and the context of the currently displayed trading data;
wherein said trading instructions are selected from the group consisting of;
buy order instructions, sell order instructions, order cancellation instructions, and order amendment instructions;
wherein said trading instructions are transmitted to at least one backend trading system capable of processing said trading instructions;
wherein said at least one backend trading system is associated with at least one market participant;
wherein said at least one market participant is selected from the group consisting of;
stock exchanges, electronic communication networks (ECNs), order-entry firms, brokerage firms, commodities exchanges, and currency markets;
wherein said at least one backend trading system can be market simulation software;
wherein said at least one backend trading system is external to the computer where said software object is executing; and
wherein said at least one backend trading system can reside in the same computer where said software object is executing;
wherein said trading data comprises data elements selected from the group consisting of;
order data, quote data, and index data;
wherein said order data and said quote data are associated with specific securities;
wherein said order data and said quote data directly reflect real orders and quotes posted to at least one market, exchange, and qualified market participant;
wherein said data elements possess a price dimension directly related to the price of the security associated with said data elements;
wherein the values associated with said price dimension are numeric price values; and
wherein said data elements possess at least one additional dimension or parameter;
wherein said software object is adapted to retrieve said trading data from said at least one data source, and said trading data may be electively retrieved continuously, or from time to time;
wherein said software object automatically binds to said trading data;
wherein said software object comprises a drawing area for displaying a visual representation of said data elements;
wherein said data elements comprising order data and quote data are represented on said software object'"'"'s drawing area by icons, shapes, and other graphical user interface (GUI) objects;
wherein said icons, shapes, and other GUI objects are rendered by means of at least one visual presentation style, wherein said at least one visual presentation style functions to graphically distinguish between different types of orders and quotes;
wherein said software object comprises an axis associated with numeric values, wherein said numeric values associated with said axis directly correspond to the numeric price values of said price dimension, and wherein said numeric values associated with said axis are based on at least one criterion;
wherein said software object comprises at least one additional axis associated with said at least one additional dimension or parameter;
wherein said axis and said at least one additional axis are represented on said drawing area using at least one visual presentation style;
wherein said first price axis and said at least one additional axis define a specific coordinate system when combined in a specific manner, which functions to describe the positions of said shapes or icons representing said data elements in said drawing area; and
wherein said description of positions of said shapes or icons facilitates the plotting of said shapes or icons onto said drawing area;
wherein said plotting comprises at least one method for determining the positions of said shapes or icons, on said drawing area, wherein said at least one method is based on at least one criterion, and wherein said at least one criterion is the numeric price value of said price dimension associated with said data elements;
wherein said positions are defined in terms of said coordinate system, wherein said positions are determined for the purpose of plotting and rendering said shapes or icons, representing said data elements, onto said drawing area, and wherein said plotting and rendering is electively dynamic and continuous, and is linked to said continuous retrieval of data;
wherein said first price axis functions to provide a reference frame for plotting and rendering the dynamic variation in values of said price dimension associated with said data elements;
wherein said dynamic variation in values of said price dimension associated with said data elements is graphically represented by varying the positions of said shapes or icons on said drawing area, with respect to said first price axis;
wherein said at least one additional axis functions to categorize said data elements, as represented by said shapes or icons on said drawing area, according to at least one criterion, wherein said at least one criterion is based on the values of said additional dimensions or parameters associated with said data elements;
wherein said first price axis and said at least one additional axis function to facilitate the manipulation by a user of said software object, of the values of specific parameters associated with said data elements, as represented by said shapes or icons plotted and rendered on said software object'"'"'s drawing area, by providing references against which variations in values can be measured;
wherein said manipulation is subject to at least one rule, and wherein said manipulation is accomplished by means of at least one user interaction mode; and
wherein said manipulation by a user of said software object, causes said software object to automatically generate trading instructions, based on said user'"'"'s specific input and the context of the currently displayed trading data;
wherein said trading instructions are selected from the group consisting of;
buy order instruction, sell order instruction, order cancellation instruction, and order amendment instruction; and
wherein said trading instructions are sent to at least one backend trading system capable of processing said instructions.
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79. A software object providing a graphical representation of trading data originating from at least one data source, wherein said software object is executable by a computer, and comprises:
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first process means for establishing at least one connection with at least one data source;
second process means for receiving trading data from said at least one data source;
third process means for transforming said trading data into a form that is suitable for display by said software object; and
fourth process means for displaying said trading data by using at least one visual presentation style;
wherein said at least one data source is selected from the group consisting of;
securities exchanges, stock markets, currency markets, commodities exchanges, electronic communication networks (ECNs), brokerage firms, auction houses, data feed providers, market simulation software, trading data published on computer-readable media, and combinations thereof;
wherein said trading data comprises data elements selected from the group consisting of;
quote data, order data, and index data;
wherein said data elements are associated with a specific security or a group of securities;
wherein said data elements possess a price dimension representing the price of the security or the value of the index associated with said data elements;
wherein the values associated with said price dimension are numeric price values or numeric index values; and
wherein said data elements possess at least one additional dimension;
wherein said software object further includes a visual manifestation displayed on said computer'"'"'s associated display means;
wherein said visual manifestation includes a drawing area for rendering a graphical representation of said trading data;
wherein said visual manifestation includes an axis associated with numeric price values which are associated with said price dimension, wherein said axis is rendered on said drawing area using at least one visual presentation style, and wherein said axis is a price axis;
wherein said visual manifestation further includes graphical user interface (GUI) objects;
wherein said GUI objects are selected from the group consisting of;
icons, images, geometric shapes, and combinations thereof;
wherein said GUI objects function to graphically represent order data and quote data received from said at least one data source;
wherein said GUI objects are rendered on said drawing area by at least one visual presentation style;
wherein said at least one visual presentation style functions to graphically distinguish between different types of orders and quotes associated with said data elements;
wherein said price axis defines one dimension of a coordinate system;
wherein said coordinate system functions as a reference for plotting said GUI objects onto said drawing area;
wherein said plotting comprises at least one process for determining the positions where said GUI objects are rendered on said drawing area;
wherein said at least one process correlates the numeric price values of said price dimension with the numeric price values associated with said price axis;
wherein said positions are defined with respect to said one dimension of a coordinate system, and are determined for the purpose of plotting and rendering said GUI objects onto said drawing area;
wherein said trading data is received essentially continuously;
wherein said essentially continuous reception of trading data effects dynamic variations in the values of said price dimension and said at least one additional dimension associated with said data elements; and
wherein said dynamic variations in the values of said price dimension, and said at least one additional dimension, is graphically represented by dynamically varying the positions and graphical properties of said GUI objects rendered on said drawing area.
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100. An interactive grid-based graphical trading system for use by any trader, where the system comprises a grid-based graphical interface, said graphical interface being adapted to establish connections with any backend system;
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wherein said interactive grid-based graphical trading system is adapted to receive and display market trading data received from said backend system;
wherein said interactive grid-based graphical trading system includes first process means that function to send transaction instructions to said backend system, and to receive messages and market trading data from said backend system; and
wherein said grid-based graphical interface includes second process means that function to receive, process, and display said market trading data, and said messages;
wherein said market trading data includes information chosen from the group of market trading data consisting of;
order data of said trader, and quote data for any selected security or group of securities;
wherein said interactive grid-based graphical trading system includes third process means that function to transform said market trading data into a graphical representation for display on a display device, wherein said graphical representation includes at least one grid having a plurality of cells arranged in a matrix chosen from the group consisting of;
a plurality of rows and at least one column, and a plurality of columns and at least one row;
wherein a row is an arrangement of horizontally adjacent cells with at least one common property, and a column is an arrangement of vertically adjacent cells with at least one common property, and wherein each cell within the said plurality of cells belongs to one row and one column;
wherein said plurality of rows or said plurality of columns are associated with a price axis representing a range of prices, wherein said range of prices is associated with the trading price range of any given security;
wherein any cell may be associated with said market trading data, and contains a graphical representation of said market trading data;
wherein each cell along said price axis indicates a price or price range for which said market trading data exists, and the other of said at least one column or said a least one row is indicative of a specific criterion chosen from a plurality of criteria within which said market trading data may be categorized; and
wherein said any trader can place, or modify, an order for a selected security or group of securities, over which that trader has discretion, by interacting with said grid-based graphical interface. - View Dependent Claims (101, 102, 103, 104, 105, 106, 107, 108, 109, 110, 111, 112, 113, 115, 116, 117, 118, 120, 121, 122, 123, 124, 125, 126, 127, 128, 129, 137, 138, 141, 142, 161, 164, 168, 170, 171, 173, 177, 178, 180, 184, 187, 192, 195, 197, 198, 199, 206, 207, 208, 209, 210, 211, 212, 213, 214, 215, 216, 217, 218, 219, 220, 221, 222, 223, 224, 225, 226, 227, 228, 229, 230, 231, 232)
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114. An interactive trading recommendation system for use by any trader who engages in trading securities through established security trading markets, in essentially real time, said system comprising:
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at least one input data, wherein said input data is chosen from the group consisting of;
trading account data, securities data, preference data, risk data, and combinations thereof; and
process means to analyse said input data, and to output a recommendation as to the size or volume of an order;
wherein said recommendation is a numeric value. - View Dependent Claims (119)
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Specification