Multi site solution for securities trading

• US 20050182704A1
• Filed: 02/13/2004
• Published: 08/18/2005
• Est. Priority Date: 02/13/2004
• Status: Active Grant

• Current Assignee: Nasdaq Technology AB (Nasdaq, Inc.)
• Original Assignee: OM Technology AB (OM Gruppen AB)
• Inventors: Winbom, Hakan
• Granted Patent: US 8,370,247 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06F 11/2038 with a single idle spare processing component
• CPC Class Codes: G06F 11/2048 where the redundant components share neither address space nor persistent storage
• CPC Class Codes: G06F 11/2097 maintaining the standby controller/processing unit updated initialisation or re-synchronisation thereof G06F11/1658 and subgroups
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The invention discloses a method and a system for trading in securities at a primary site, the trading being carried out according to information received from market makers and traders, said information comprising quotes and orders for one or more instrument. The method comprises the reception and storing of said information at the primary site, and using said information to create deals in said securities, said deals also being stored at the primary site. The method additionally comprises the use of a secondary site, where replicas of the orders and deals are stored, with the deals stored at the secondary site being used to update the orders stored at the secondary site. The information regarding the replicas stored at the secondary site can be forwarded from the primary site, at which primary site the information on which the replicas are based is first received from the market makers and traders, or it can be received at the secondary site directly from the market makers and traders.

Claims

1. A method for trading in securities, the trading being carried out at a primary site according to information received from market makers and traders, said information comprising quotes and orders for one or more instrument, the method comprising the reception and storing of said information at the primary site, and using said information to create deals in said securities, said deals also being stored at the primary site, the method additionally comprising the use of a secondary site, at which secondary site replicas of the orders and deals are stored, with the deals stored at the secondary site being used by a corrective function to update the orders stored at the secondary site.

2. The method of claim 1, according to which the replicas stored at the secondary site are forwarded from the primary site, at which primary site the information on which the replicas are based is first received from the market makers and traders.

3. The method of claim 1, according to which the replicas stored at the secondary site are based on information received at the secondary site directly from the market makers and traders.

4. An automated system for trading in securities, said system comprising, at a primary site:

Automated means for receiving information from market makers and traders, said information comprising quotes and orders for at least one instrument,

Automated means for storing said information at the primary site,

Automated means for creating deals using said received information, and automated means for storing said deals at the primary site,

the system additionally comprising a secondary site, at which the system comprises

automated means for storing replicas of the orders received and the deals created at the primary site,

automated means for a corrective function for using the deals stored at the secondary site to update the orders stored at the secondary site.

5. The system of claim 4, additionally comprising automated means for transmitting from the primary site to the secondary site the information on which the replicas at the secondary site are based.

6. The system of claim 4, additionally comprising automated means at the secondary site for receiving information directly from the market makers and traders on which the replicas stored at the secondary site are based.

7. A method for use in the automated trading of securities, the trading being carried out at a primary site according to information received from market makers and traders, said information comprising quotes and orders for one or more instrument, the method comprising the reception and storing of said information at the primary site and using said information to create deals in said securities, said deals being stored at the primary site, the method additionally comprising the use of a secondary site, at which secondary site replicas of the orders and deals are stored, with the deals stored at the secondary site being used by a corrective function to update the orders stored at the secondary site, according to which method the trading of securities is continued at the secondary site in case of a malfunction at the primary site, in which case the market makers and traders are prompted to submit new quotes to the secondary site.

8. The method of claim 7, according to which an automated function at the secondary site makes the determination that there has been a malfunction at the primary site, and that the trading should be continued at the secondary site.

9. The method of claim 7, according to which an operator makes the determination that there has been a malfunction at the primary site, and that the trading should be continued at the secondary site.

10. The method of claim 7, according to which the replicas stored at the secondary site are forwarded from the primary site, at which primary site the information on which the replicas are based is first received from the market makers and traders.

11. The method of claim 7, according to which the replicas stored at the secondary site are based on information received at the secondary site directly from the market makers and traders.

12. An automated system for trading in securities, said system comprising at a primary site:

Automated means for receiving information from market makers and traders, said information comprising quotes and orders for at least one instrument,

Automated means for storing said information at the primary site,

Automated means for creating deals using said received information, and automated means for storing said deals at the primary site,

the system additionally comprising a secondary site, at which the system comprises

automated means for storing replicas of the orders received and the deals created at the primary site,

automated means for a corrective function for using the deals stored at the secondary site to update the orders stored at the secondary site,

automated means for determining that there has been a malfunction a the primary site such that the trading should be continued at the secondary site.

13. The system of claim 12, additionally comprising an automated function for prompting the market makers and traders to submit new quotes to the secondary site.

14. The system of claim 12, additionally comprising automated means for transmitting from the primary site to the secondary site the information on which the replicas at the secondary site are based.

15. The system of claim 12, additionally comprising automated means at the secondary site for receiving information directly from the market makers and traders on which the replicas stored at the secondary site are based.

16. An automated corrective method for use in an automated system for trading in securities, in which system information regarding orders and deals from a primary trading site is passed to and stored at a secondary site, said corrective method using the deal information passed to the secondary site to update the order information stored at the secondary site.

17. The automated corrective method of claim 16, said method being used to monitor the information regarding deals stored at the secondary site in order to update the information regarding orders stored at the secondary site.

18. The automated corrective method of claim 16, according to which the order information which is passed to the secondary site is passed via the deal information stored at the secondary site.

19. The automated corrective method of claim 16, according to which copies of the orders and deals are stored at the secondary site, and at defined intervals said orders are gone through against the background of said deals.

20. An automated corrective means for use in an automated system for trading in securities, in which system information regarding orders and deals from a primary trading site is passed to and stored at a secondary site, said corrective means using the deal information passed to the secondary site to update the order information stored at the secondary site.

21. The automated corrective means of claim 20, said means monitoring the information regarding deals stored at the secondary site in order to update the information regarding orders stored at the secondary site.

22. The automated corrective means of claim 20, which lets the order information which is passed to the secondary site pass via the deal information stored at the secondary site.

23. The automated corrective means of claim 20, which stores copies of the orders and deals at the secondary site, and at defined intervals goes through said orders against the background of said deals.