Computer-implemented securities trading system with a virtual specialist function
First Claim
1. A method for regulating market price in a computerized trading system, the system receiving buy orders and sell orders for a security, the method comprising:
- computing a buy-sell imbalance by measuring an imbalance between buy orders and sell orders for the security after fulfilling a trade order;
computing a projected price movement by retrieving a security price threshold from a database, comparing the security price threshold to the buy-sell imbalance, retrieving a security price increment from the database representing a quantity for price movement for the instrument, and setting the projected price movement to the security price increment if the buy-sell imbalance exceeds the security price threshold; and
setting a market price for the security by incrementing the market price by the projected price movement.
0 Assignments
0 Petitions
Accused Products
Abstract
The present invention discloses method, apparatus, and article of manufacture for a computer-implemented financial management system that permits the trading of securities via a network. A server computer receives buy and sell orders for derivative financial instruments from a plurality of client computers. The server computer matches the buy orders to the sell orders and then generates a market price through the use of a virtual specialist program executed by the server computer. The virtual specialist program responds to an imbalance in the matching of the buy and sell orders.
-
Citations
27 Claims
-
1. A method for regulating market price in a computerized trading system, the system receiving buy orders and sell orders for a security, the method comprising:
-
computing a buy-sell imbalance by measuring an imbalance between buy orders and sell orders for the security after fulfilling a trade order;
computing a projected price movement by retrieving a security price threshold from a database, comparing the security price threshold to the buy-sell imbalance, retrieving a security price increment from the database representing a quantity for price movement for the instrument, and setting the projected price movement to the security price increment if the buy-sell imbalance exceeds the security price threshold; and
setting a market price for the security by incrementing the market price by the projected price movement. - 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. A method for conducting market research by regulating market price in a computerized trading system, the system receiving buy orders and sell orders for a plurality of securities, the method comprising:
-
computing a plurality of buy-sell imbalances by measuring the imbalances between buy orders and sell orders for the security after fulfilling a plurality of trade orders;
computing matching projected price movements for the plurality of trade orders by retrieving a matching plurality of security price thresholds from a database, comparing the matching security price thresholds to the plurality of the buy-sell imbalances, retrieving a plurality of matching security price increments from the database representing matching quantities for price movements for the plurality of instruments, and setting the projected price movements for the plurality of securities to the matching security price increments for the buy-sell imbalances which exceed the matching security price thresholds; and
setting market prices for the plurality of securities by incrementing market prices of the securities by the matching projected price movements. - View Dependent Claims (24, 25, 26, 27)
-
Specification