Methods of handling automated trading

• US 20050044274A1
• Filed: 09/30/2004
• Published: 02/24/2005
• Est. Priority Date: 03/13/2001
• Status: Abandoned Application

• Current Assignee: Tradebolt LLC
• Original Assignee: Tradebolt LLC
• Inventors: Deming, Douglas R., Custance, Marcus
• Application Number:
  US10/955,857
• Publication Number:
  US 20050044274A1
• Time in Patent Office: Days
• US Class Current: 709/246
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The present invention provides an interface that will capture commands and parameters between a user application and a broker application. One embodiment of the present invention discloses methods of handling automated trading. In another embodiment, methods of interfacing to the user application without modification to the user application source code are disclosed.

Claims

1. A method of modifying an output of a user application in communication with an interface application, comprising the steps of:

a) capturing at least one tradeable product order made by a client;

b) modifying at least one tradeable product order; and

c) sending at least one transaction record to a broker application;

wherein the interface application performs steps (a) through (c) and coordinates communication between the user application and the broker application.

2. The method of claim 1, further comprising the step of (d) transmitting at least one order to the broker application.

3. The method of claim 2, step (d) includes the substep of establishing a telecommunications link with the broker application to transmit the order to the broker application.

4. The method of claim 1, wherein step (a) includes the substep of seizing trading system transaction records.

5. The method of claim 1, wherein step (b) includes the substep of editing trading system transaction records.

6. The method of claim 1, wherein step (b) includes the substep of replacing at least one piece of data in a client specified order field with at least one second piece of data provided by the client.

7. The method of claim 1, wherein step (b) comprises the substep of cancelling all working orders.

8. The method of claim 7, wherein cancelling all working orders occurs at a time of day specified by the client.

9. The method of claim 7, wherein step (b) further comprises the substep of automatically placing orders to offset at least one of a client'"'"'s tradeable product positions.

10. The method of claim 1, wherein step (b) comprises the substep of automatically placing orders to offset at least one of a client'"'"'s tradeable product positions.

11. The method of claim 10, wherein placing orders to offset at least one position occurs at a time of day specified by the client.

12. The method of claim 1, further comprising the step of displaying at least one order on a client'"'"'s terminal for preview before sending it to the broker application for execution.

13. The method of claim 1, wherein step (b) comprises the substep of converting a rejected stop order to a limit order when the rejected stop order is in the money.

14. The method of claim 1, wherein step (b) comprises the substep of converting a rejected stop order to a market order when the rejected stop order is in the money.

15. The method of claim 1, wherein step (b) comprises the substep of converting a stop order to a stop-limit order when the stop order is not supported by the broker application.

16. The method of claim 15, wherein step (b) further comprises the substeps of:

i) converting the stop-limit order to a market order when the stop-limit order is not supported by the broker application;

ii) retaining the market order at the interface application until a price reaches a stop price of the stop order; and

iii) placing the market order at the broker application when the price reaches the stop price.

17. The method of claim 1, further comprising the steps of:

d) the client clicking one button on the user application to instruct the interface application to convert at least one of the client'"'"'s positions to flat; and

e) converting at least one of the client'"'"'s positions to flat.

18. The method of claim 1, wherein step (b) includes the substeps of:

i) the client clicking one button on the user application to instruct the interface application to cancel at least one working order; and

ii) cancelling at least one working order.

19. The method of claim 1, further comprising the steps of:

d) the client clicking one button on the user application to request technical assistance; and

e) providing remote technical assistance to the client.

20. The method of claim 1, further comprising the step of creating a log of an activity of the client.

21. The method of claim 1, further comprising the step of creating a custom code.

22. A method of capturing real time prices in a price queue, comprising the steps of:

a) creating a queue of real time prices; and

b) accessing the queue, wherein a plurality of user applications can access the queue, and wherein each user application accesses the queue independent of each other and independent of a rate that the queue is adding the prices.

23. A method of compressing and sending a file, comprising the steps of:

a) compressing a file; and

b) sending the file electronically to an electronic mail address;

wherein steps (a) and (b) occur when a user clicks a single button on the user application.

24. The method of claim 23, further comprising the steps of:

c) locating the file prior to step a);

d) creating an electronic mail;

e) attaching the file to the electronic mail;

f) filling out a recipient field in the electronic mail;

g) filling out a subject field in the electronic mail; and

h) filling out a body of the electronic mail with text.

wherein steps (d) through (h) are performed prior to step (b).

25. A method of interfacing between a user application and an interface application, comprising the steps of:

a) retrieving user specified keywords and values from the user application without modification to the user application; and

b) using the user specified keywords and values in the interface application.

26. The method of claim 25, further comprising, prior to step (a), the step of embedding a plurality of text strings into editable features of the user application.

27. The method of claim 26, wherein the editable features are selected from the group consisting of:

a) a filename;

b) a workspace name;

c) a signal name;

d) a window name;

e) an e-mail address;

f) an alert window; and

g) any combination of a) through f).

28. The method of claim 25, further comprising, prior to step (a), the steps of:

c) monitoring all window handles on the user application; and

d) scanning for window information selected from the group consisting of a window title, a window action, and a content of a window.

29. The method of claim 25, further comprising, prior to step (a), the steps of:

c) intercepting an electronic mail message as the user application sends the electronic mail; and

d) searching the electronic mail message for the user specified keywords and values.

30. A method of modifying an output of a user application in communication with an interface application, comprising the steps of:

a) replacing at least one piece of data in a client specified order field with at least one second piece of data provided by the client; and

b) sending the output to the broker application for execution.

31. A method of processing a request of a client on a user application in communication with an interface application, comprising the step of the interface application automatically processing at least one order request from the client.

32. The method of claim 31, comprising the substep of cancelling all working orders.

33. The method of claim 32, wherein cancelling all working orders occurs at a time of day specified by the client.

34. The method of claim 31, comprising the substep of automatically placing orders to offset at least one of a client'"'"'s tradeable product positions.

35. The method of claim 34, wherein placing orders to offset at least one holding occurs at a time of day specified by the client.

36. The method of claim 31, further comprising the step of the client clicking one button on the user application to instruct the interface application to cancel at least one working order, wherein the interface application automatically processes this request by cancelling at least one working order.

37. The method of claim 36, wherein the button is located on the user application.

38. The method of claim 31, further comprising the step of the client clicking one button on the user application to instruct the interface application to convert at least one of the client'"'"'s positions to flat;

wherein the interface application automatically processes this request by converting at least one of the client'"'"'s positions to flat.

39. The method of claim 38, wherein the button is located on the user application.

40. The method of claim 38, wherein converting the position to flat comprises the substeps of:

i) calculating an order to offset the position; and

ii) placing an order with the broker application.

41. A method of modifying an output of a user application in communication with an interface application comprising the step of displaying at least one order on a user application for preview before sending it to the broker application for execution.

42. A method of modifying an output of a user application in communication with an interface application, comprising the steps of:

a) converting a stop order, which has been rejected by a broker application, into an executable order that the broker application can fill; and

b) sending the executable order to the broker application.

43. The method of claim 42, wherein step (a) comprises the substep of converting a rejected stop order to a market order when the rejected stop order is in the money.

44. The method of claim 42, wherein step (a) comprises the substep of converting a rejected stop order to a limit order when the rejected stop order is in the money.

45. The method of claim 42, wherein step (a) comprises the substep of converting a stop order to a stop-limit order when the stop order is not supported by the broker application.

46. The method of claim 45, wherein step (a) further comprises the substeps of:

i) converting the stop-limit order to a market order when the stop-limit order is not supported by the broker application;

ii) retaining the market order at the interface application until a price reaches a stop price of the stop order; and

iii) placing the market order at the broker application when the prices reaches the stop price.

47. A method of providing technical assistance to a client on a user application in communication with an interface application, comprising the steps of:

a) the client clicking one button on the user application to request technical assistance; and

b) providing remote technical assistance to the client.

48. The method of claim 47, wherein step (b) comprises the substeps of:

a) determining if the client has installed a remote desktop program;

b) downloading the desktop program if it is not installed;

c) automatically installing the desktop program; and

d) running the program to connect the client to a source of technical support.

49. A method of monitoring an output of a user application in communication with an interface application, comprising the step of creating a log of an activity of the client.

50. The method of claim 49, comprising the substeps of:

a) capturing at least one parameter specified by the client; and

b) using the log to analyze an interaction between the client and the broker application.

51. A method of interfacing a user application with a broker application using an interface application, comprising the steps of:

a) providing a custom code to the client; and

b) allowing the client to view at least one feature in the interface application that the client could not access without the custom code.

52. The method of claim 51, wherein the client pays a fee for the custom code.

53. A method of monitoring a profit and/or a loss of at least one position in a portfolio of a client on a user application in communication with an interface application, comprising the steps of:

a) retrieving a portfolio list, which shows the profit and/or loss for each tradeable product in the portfolio; and

b) sending an order to a broker application to offset at least one tradeable product, wherein the profit or the loss of the product exceeds the profit or the loss preset by the client.

54. A method of monitoring an order status for a client on a user application in communication with an interface application, comprising the steps of:

a) retrieving a status of all of the orders from a broker application;

b) displaying the status received in step (a) to the client; and

c) acting on at least one order signal received from the user application.

55. A method of providing a client on a user application in communication with an interface application with news relevant to at least one tradeable product held by the client, comprising the steps of:

a) interfacing with at least one website, which provides news;

b) specifying at least one search term to search for on the website;

c) monitoring a plurality of headlines on the website for the search term; and

d) requesting a full story for each headline including the search term.

56. The method of claim 55, further comprising the step of notifying the client of a news story matching the search term.

57. The method of claim 55, further comprising the step of sending an order to a broker application to offset an existing tradeable product of the client, wherein the offsetting order is sent when the tradeable product is one of the search terms.

58. A computer interface system comprising an interface that can be selectively initiated by a client, wherein the interface allows a user application to communicate with a server-side trading system.

59. The computer interface system of claim 58, wherein the interface comprises a plurality of modified prerecorded HTTP commands for executing functions on the server-side trading system.

60. The computer interface system of claim 59, wherein the interface comprises computer programming code, which queries the client for parameter information for completing at least one embedded HTTP command.

61. The computer interface system of claim 58, wherein the interface comprises computer programming code, which modifies an output of the user application.

62. The computer interface system of claim 58, wherein the interface comprises computer programming code, which queries a client as to selected modifications to be made to an output of data from the user application.

63. The computer interface system of claim 58, wherein the interface comprises computer programming code, which interfaces with the server-side trading system.