Financial market trading system

• US 20050049955A1
• Filed: 05/20/2002
• Published: 03/03/2005
• Est. Priority Date: 05/18/2001
• Status: Active Grant

• Current Assignee: Refinitiv US Organization, LLC (Refinitiv US Holdings, Inc.)
• Original Assignee: Refinitiv US Organization, LLC (Refinitiv US Holdings, Inc.)
• Inventors: Grigg, Steven, Rowles, David Alun, Kohnhorst, Diederik
• Granted Patent: US 10,535,099 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 2220/10 Usage protection of distributed data files
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: H04L 12/4633 Interconnection of networks using encapsulation techniques, e.g. tunneling

Abstract

According to the present invention, there is provided a computer system for providing a centralized trading service to one or more trading party sites, the system comprising: a) a service data centre comprising: i) a trading computer arranged to process and communicate trading data and to generate trading ticket data in respect of confirmed trades on the basis of trading data: ii) a data store accessible to the trading computer for temporarily storing trading ticket data records; and b) one or more trading party sites each comprising at least one user terminal running a hypermedia browser application, each trading party site being located remotely from the data centre, and being arranged to communicate with the trading computer over a packet-switched communications network: the system being arranged to present, to users of the terminals, hypermedia user interface components comprising trading data received from the trading computer.

Claims

1. A computer system for providing a centralized trading service to one or more trading party sites, the system comprising:

a) a service data centre comprising;

i) a trading computer arranged to process and communicate trading data and to generate trading ticket data in respect of confirmed trades on the basis of trading data;

ii) a data store accessible to the trading computer for temporarily storing trading ticket data records; and

b) one or more trading party sites each comprising at least one user terminal running a hypermedia browser application, each trading party site being located remotely from the data centre, and being arranged to communicate with the trading computer over a packet-switched communications network;

the system being arranged to present, to users of the terminals, hypermedia user interface components comprising trading data received from the trading computer.

2. A system according to claim 1, wherein trading data for communication from the trading computer to a user terminal of one of the trading party sites is published using a publish and subscribe protocol to an information channel identifying the trading party site.

3. A system according to any preceding claim, wherein the trading party sites each comprise a trading ticket data receiving computer arranged to receive trading ticket data from the data store.

4. A system according to claim 3, wherein trading ticket data for communication from the data store to the trading ticket data receiving computer of one of the trading party sites is published using a publish and subscribe protocol to an information channel identifying the trading party site.

5. A system according to claim 3, wherein the data store is arranged to delete trading ticket data records sent to the data record receiving computer upon confirmation of receipt.

6. A system according to claim 1, wherein the trading data comprises conversational trading data or matching trading data.

7. A service data centre for use in the computer system according to claim 1.

8. A trading party site for use in the computer system according to claim 1.

14. A system according to claim 1, wherein the trading data comprises conversational trading data or matching trading data.

9. A method of providing a centralised trading service to one or more trading party sites, the method comprising the steps of:

a) processing trading data at a trading computer of a service data centre;

b) generating, at the trading computer, trading ticket data in respect of confirmed trades on the basis of the trading ticket data;

c) temporarily storing generated trading ticket data at a data store of the service data centre;

d) transmitting trading data over a packet-switched communications network to one or more trading party sites remote to the data centre, each trading party site comprising at least one user terminal running a hypermedia browser application; and

e) presenting, to users of the terminals, hypermedia user interface components comprising trading data received from the trading computer.

10. A method according to claim 9, comprising publishing trading data, for communication from the trading computer to a user terminal of one of the trading party sites, to an information channel identifying the trading party site using a publish and subscribe protocol.

11. A system according to claim 9, comprising transmitting trading ticket data from the data store to one or more trading ticket data receiving computers at the trading party sites.

12. A method according to claim 11, comprising publishing trading ticket data, for communication from the data store to the trading ticket data receiving computer of one of the trading party sites, to an information channel identifying the trading party site using a publish and subscribe protocol.

13. A method according to claim 11, comprising deleting, at the data store, trading ticket data records sent to the data record receiving computer upon confirmation of receipt.

22. One or more computer programs for performing the method of claim 9.

23. Apparatus for performing the method of claim 9.

15. A service data centre for communicating and presenting trading data for trading financial instruments, the data centre comprising:

a) a trading computer arranged to process trading data and to generate trading ticket data in respect of confirmed trades on the basis of trading data;

b) a hypermedia server arranged to communicate with the trading server, the hypermedia server comprising a hypermedia user interface generation component for generating hypermedia content for presenting trading data to a user; and

c) a data store accessible to the trading server for temporarily storing trading ticket data records;

wherein the hypermedia server is arranged to publish trading data and trading ticket data, for communication from the trading computer to one of one or more trading party sites remote to the data centre, to an information channel identifying the trading party site using a publish and subscribe protocol.

16. A trading party site for processing and communicating trading data for trading financial instruments, the trading party site comprising:

a) a computer for receiving trading data and trading ticket data from a remote service data centre; and

b) at least one user terminal running a hypermedia browser application, the terminal being arranged to present to a user hypermedia user interface components comprising received trading data;

wherein the computer is arranged to subscribe to an information channel identifying the trading party site, to receive trading data and trading ticket data from the remote service data centre, using a publish and subscribe protocol.

17. A system for communicating real-time conversational trading data for trading financial instruments, the system comprising

a) a first user terminal associated with a trading party and comprising:

i) a real-time conversational trading data communication component; and

ii) a hypermedia user interface component for receiving from a user real-time conversational trading data for transmission to a user terminal associated with a counterparty using the conversational trading data communication component and for presenting to a user real-time conversational trading data received by the real-time conversational trading data communication component from the user terminal associated with the counterparty.

b) a second user terminal associated with a trading counterparty and comprising;

i) a real-time conversational trading data communication component; and

ii) a hypermedia user interface component for receiving from a user real-time conversational trading data for transmission to a user terminal associated with a trading party using the conversational trading data communication component and for presenting to a user real-time conversational trading data received by the real-time conversational trading data communication component from the user terminal associated with the trading party; and

c) a communications network connecting the first and second user terminals for communicating real-time conversational trading data.

18. A system according to claim 17 wherein the first and second user terminals are arranged to be in a first state in which conversational trading data may be transmitted from the user terminal associated with the trading party to the user terminal associated with the counterparty or in a second state in which conversational trading data may be transmitted from the user terminal associated with the counterparty to the user terminal associated with the trading party but not in a state in which conversational trading data may be both transmitted and received between the user terminal associated with the trading party and the user terminal associated with the counterparty.

19. A method of communicating real-time conversational trading data for trading financial instruments, the method comprising the steps of:

a) communicating real-time conversational trading data between a user terminal associated with a trading party and a user terminal associated with a counterparty; and

b) presenting, at one of the user terminals, a hypermedia user interface component comprising real-time conversational trading data received from the other user terminal or for transmission to the other user terminal.

20. A method according to claim 19, wherein in a first time period, conversational trading data may only be transmitted from the user terminal associated with the trading party to the user terminal associated with a counterparty and not received by the user terminal associated with the trading party from the user terminal associated with a counterparty, and in a second time period, conversational trading data may only be transmitted from the user terminal associated with the counterparty to the user terminal associated with a trading party and not received by the user terminal associated with the from the user terminal associated with a trading party.

21. A user terminal associated with a trading party, the terminal being for communicating trading data for trading financial instruments, the user terminal comprising:

a) a trading data communication component for communicating trading data with a user terminal associated with a counterparty; and

b) a hypermedia user interface component for presenting to a user graphical user interface elements received from a remote hypermedia server, the graphical user interface elements comprising trading data received by the trading data communication component;

wherein the trading data is communicated over a secure communications channel different the channel over which the graphical user interface elements are communicated.