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System and method for controlling markets during a stop loss trigger

  • US 20050108141A1
  • Filed: 11/14/2003
  • Published: 05/19/2005
  • Est. Priority Date: 07/25/2003
  • Status: Active Grant
First Claim
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1. A stop-loss system that mitigates the effects of a market spike caused by the triggering and the election of a stop order comprising:

  • an evaluation logic that monitors orders submitted to a trading engine in an automated matching system, the evaluation logic being configured to compare an execution price of a stop order to a predefined price range;

    a delay logic that delays the matching of the orders submitted to the trading engine when the price of a transaction lies outside of the predefined price range;

    a pricing logic that derives an opening price to be used by the trading engine; and

    a timing logic that measures a time interval used to delay a matching of the orders until the opening price is within a second predefined price range.

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