System and method for avoiding transaction costs associated with trading orders
First Claim
Patent Images
1. A system for avoiding costs associated with trading orders, comprising:
- a memory operable to store an order identifier associated with a trading order, and a time threshold associated with the trading order;
a processor coupled to the memory and operable to;
monitor the length of time the trading order is active with a market center that is processing the trading order;
determine a timeout when the length of time the trading order is active with the market center equals or exceeds the time threshold; and
communicate a cancel instruction for the trading order in response to determining the timeout.
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Abstract
A system for avoiding transaction costs associated with trading orders comprises a memory and a processor. The memory stores an order identifier associated with a trading order, and a time threshold associated with the trading order. The processor monitors the length of time the trading order is active with a market center that is processing the trading order. The processor further determines a timeout when the length of time the trading order is active with the market center equals or exceeds the time threshold. The processor then communicates a cancel instruction for the trading order in response to determining the timeout.
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Citations
33 Claims
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1. A system for avoiding costs associated with trading orders, comprising:
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a memory operable to store an order identifier associated with a trading order, and a time threshold associated with the trading order;
a processor coupled to the memory and operable to;
monitor the length of time the trading order is active with a market center that is processing the trading order;
determine a timeout when the length of time the trading order is active with the market center equals or exceeds the time threshold; and
communicate a cancel instruction for the trading order in response to determining the timeout. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A method for avoiding costs associated with trading orders, comprising:
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storing an order identifier associated with a trading order;
storing a time threshold associated with the trading order;
monitoring the length of time the trading order is active with a market center that is processing the trading order;
determining a timeout when the length of time the trading order is active with the market center equals or exceeds the time threshold; and
communicating a cancel instruction for the trading order in response to determining the timeout. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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23. A system for avoiding costs associated with trading orders, comprising:
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a memory operable to store an order identifier associated with a trading order, and a time threshold associated with the trading order; and
a processor coupled to the memory and operable to;
monitor the length of time the trading order is active with a market center that is processing the trading order;
determine a timeout when the length of time the trading order is active with the market center equals or exceeds the time threshold;
communicate a cancel instruction for the trading order in response to determining the timeout;
communicate an order instruction for the trading order in response to determining the timeout; and
assign a new order identifier associated with the order instruction. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30, 31, 32, 33)
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Specification