Electronic systems and methods for providing a trading interface with advanced features

• US 20040158519A1
• Filed: 10/31/2003
• Published: 08/12/2004
• Est. Priority Date: 10/31/2002
• Status: Active Grant

• Current Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Original Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Inventors: Lutnick, Howard W., Sweeting, Michael, Noviello, Joseph, Amaitis, Lee, Johnson, Jim
• Granted Patent: US 8,566,212 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06F 3/0219 Special purpose keyboards
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Systems and methods for a trading interface with advanced features are provided. Along with providing the benchmark issue and non-benchmark issues, the trading application may also provide the trader with the ability to obtain trading information (e.g., another quad) for each of the related U.S. Treasury swaps (“T-swaps”), off-the-runs, yield curve T-swaps, and basis. In some embodiments, the trader may be provided with a customized keyboard to navigate through the trading interface. The keyboard preferably includes keys that allow the trader to quickly and efficiently switch between multiple issues in a quad. Using the keyboard, the trader may also be provided with price improvement functionality and direct dealing functionality. In some embodiments, the trading application may simultaneously display a DD ticker along with the trading quadrant that provides the trader with the progression of the direct dealings of the selected issue.

Claims

1. A system for allowing traders to switch between multiple issues in trading quadrants, the system comprising:

a display device;

a keyboard that has keys, wherein the keys include a key associated with a benchmark issue and a key associated with a non-benchmark issue; and

a processor configured to;

direct the display device to display a first trading quadrant having a benchmark issue;

provide a trader with an opportunity to select the at least one non-benchmark issue that is related to the benchmark issue by pressing the key on the keyboard that is mapped to the at least one non-benchmark issue; and

direct the display device to display trading information related to the selected non-benchmark issue.

2. The system of claim 1 wherein the keyboard has a key for price improvement.

3. The system of claim 1 wherein the keyboard has a key for direct dealing.

4. The system of claim 1 wherein the processor is further configured to direct the display device to display a second trading quadrant that includes information related to the selected non-benchmark issue.

5. The system of claim 4 wherein the second trading quadrant is a Treasury swaps trading quadrant.

6. The system of claim 5 wherein the Treasury swaps trading quadrant includes at least three of the most recent benchmark issues.

7. The system of claim 4 wherein the second trading quadrant is an off-the-run trading quadrant.

8. The system of claim 7 wherein the Treasury swaps trading quadrant includes at least three of the most recent benchmark issues.

9. The system of claim 4 wherein the second trading quadrant is a yield curve trading quadrant.

10. The system of claim 4 wherein the second trading quadrant is a basis trading quadrant.

11. The system of claim 4 wherein the second trading quadrant is a limit orders trading quadrant.

12. A method for allowing a trader to switch between multiple issues in a trading quadrant, the method comprising:

displaying a trading quadrant having a benchmark issue;

providing the trader with an opportunity to select at least one non-benchmark issue that is related to the benchmark issue by pressing a key on a keyboard that is mapped to the at least one non-benchmark issue; and

providing the trader with the selected non-benchmark issue and trading information related to the selected non-benchmark issue.

13. The method of claim 12 wherein providing the trader with the selected non-benchmark issue further comprises display a second trading quadrant.

14. The method of claim 13 wherein the second trading quadrant is a Treasury swaps trading quadrant.

15. The method of claim 13 wherein the second trading quadrant is an off-the-run trading quadrant.

16. The method of claim 13 wherein the second trading quadrant is a yield curve trading quadrant.

17. The method of claim 13 wherein the second trading quadrant includes basis trading information.

18. The method of claim 13 wherein the second trading quadrant includes a limits trading information.

19. A method for allowing a trader to switch between multiple issues in a trading quadrant, the method comprising:

displaying a first trading quadrant having a benchmark issue;

providing the trader with an opportunity to select at least one non-benchmark issue that is related to the benchmark issue by pressing the associated issue key on a keyboard that is mapped to the at least one non-benchmark issue; and

displaying a second trading quadrant for the selected non-benchmark issue, wherein the second trading quadrant includes information related to the selected non-benchmark issue.

20. A system for providing direct dealing information, the system comprising:

a server storage device;

a server processor connected to the server storage device, the server storage device storing a server program for controlling the server processor, the server processor operative with the server program to;

receive real-time direct dealing content for use in a trading quadrant; and

simultaneously display the trading quadrant and a ticker that contains the received real-time direct dealing content; and

a plurality of workstations, each of the plurality of workstations operative to communicate with the server, each of the workstations comprising;

a workstation storage device; and

a workstation processor connected to the workstation storage device, the workstation storage device storing a workstation program for controlling the workstation processor, the workstation program operative to display the trading quadrant and the ticker that contains the received real-time direct dealing content.

21. The system of claim 20 wherein the server program is further programmed to receive a midprice order to buy or sell an item at a price within a spread market and update the direct dealing content in the ticker.

22. The system of claim 20 wherein the server program is further programmed to update the direct dealing content in the ticker.

23. The system of claim 20 wherein the ticker includes at least one request, wherein the request includes an orientation and a size.

24. The system of claim 20 wherein the ticker includes at least one response, wherein the request includes an orientation and a size.

25. A method for providing direct dealing information in a trading quadrant that has trading information, the method comprising:

receiving real-time direct dealing content for use in the trading quadrant; and

simultaneously displaying the trading quadrant and a ticker that contains the received real-time direct dealing content.

26. The method of claim 25 further comprising receiving a midprice order to buy or sell an item at a price within a spread market and updating the direct dealing content in the ticker.

27. The method of claim 26 further comprising updating the direct dealing content in the ticker.

28. The method of claim 26 wherein the ticker includes at least one request, wherein the request includes an orientation and a size.

29. The method of claim 26 wherein the ticker includes at least one response, wherein the request includes an orientation and a size.

30. A method for providing real-time direct dealing information in a trading quadrant that has trading information, the method comprising:

receiving a midprice order to buy or sell an item at a price within a spread market;

updating direct dealing content in a direct dealing ticker in response to receiving the midprice order; and

simultaneously displaying the trading quadrant and the updated direct dealing ticker.