System and method for performing automatic spread trading
First Claim
1. A method for automatically generating a spread for trade, the method comprising:
- receiving a plurality of market data feeds for a plurality of tradeable objects;
receiving a plurality of spread setting parameters;
generating a spread data feed corresponding to the plurality of market data feeds and the plurality of spread setting parameters; and
displaying a bid quantity and an ask quantity from the spread data feed in association with an axis representing prices.
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Accused Products
Abstract
The present embodiments are provided to facilitate the automatic trading of spreads in a fast and accurate manner. One or more market data feeds that contain market information for tradeable objects are received at an exchange. A spread data feed is generated in response to the market data feeds and from one or more spread setting parameters, which can be entered by a user. The spread data feed is preferably displayed in a spread window as bid and ask quantities associated with an axis or scale of prices. The user can enter orders in the spread window and the legs will be automatically worked to achieve, or attempt to achieve, the spread. In addition, other tools disclosed herein may be utilized to assist the user in making such trades.
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Citations
21 Claims
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1. A method for automatically generating a spread for trade, the method comprising:
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receiving a plurality of market data feeds for a plurality of tradeable objects;
receiving a plurality of spread setting parameters;
generating a spread data feed corresponding to the plurality of market data feeds and the plurality of spread setting parameters; and
displaying a bid quantity and an ask quantity from the spread data feed in association with an axis representing prices. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method for generating a spread data feed, the method comprising:
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receiving a plurality of market data feeds for a plurality of tradeable objects;
receiving a plurality of spread setting parameters that comprise a ratio and a multiplier for each of the plurality of market data feeds;
determining a minimum spread unit associated with quantity of the orders in the plurality of market data feeds and based upon the ratio for each of the plurality of market data feeds; and
determining a spread price corresponding to the minimum spread unit associated with prices of the orders in the plurality of market data feeds and based upon the multiplier for each of the plurality of market data feeds. - View Dependent Claims (10, 11, 12, 13, 14, 15)
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16. A method for spread trading in an electronic trading system, the method comprising:
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entering an order associated with a spread at a desired spread price;
automatically entering an order in at least one leg of the spread based on a plurality of spread setting parameters and market conditions in at least one other leg;
automatically calculating the working spread price based on the order and market conditions in at least one other leg; and
refraining from changing the price of the order when the working spread price stays within a range of prices determined by the desired spread price and a boundary parameter. - View Dependent Claims (17, 18)
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19. A method for spread trading in an electronic trading system, the method comprising:
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entering an order associated with a spread at a desired spread price;
automatically entering an order in at least one leg of the spread based on a plurality of spread setting parameters and market conditions in at least one other leg;
automatically calculating the working spread price based on the order and market conditions in at least one other leg; and
automatically changing the price of the order only when the working spread price goes outside of a range of prices determined by the desired spread price and a boundary parameter.
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20. A method for spread trading in an electronic trading system, the method comprising:
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entering a spread order at a desired spread price in a window, wherein the window displays a spread data feed as a plurality of bids and asks relative to an axis of prices;
automatically entering an order in a first a leg in response to the spread order; and
automatically entering a second order in a second leg when the first order is filled, wherein the second order is at a price that corresponds to the desired spread price within a range of ticks.
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21. An electronic terminal for generating a spread for trade, the electronic terminal comprising:
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a trading application for receiving a plurality of market data feeds for a plurality of tradeable objects;
an automatic spreader application for generating a spread data feed based on the plurality of market data feeds; and
a graphical user interface for displaying the spread data feed as a plurality of bids and asks in association with an axis of prices, wherein the plurality of bids and asks are displayed in alignment with the prices corresponding thereto.
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Specification