System, apparatus and method for performing a multiple condition investment transaction

• US 20050278237A1
• Filed: 06/12/2004
• Published: 12/15/2005
• Est. Priority Date: 06/12/2004
• Status: Abandoned Application

• Current Assignee: GlobalTec Solutions LLP (Dynetech, Inc.)
• Original Assignee: GlobalTec Solutions LLP (Dynetech, Inc.)
• Inventors: Griffin, Bud, Dankovchik, John
• Application Number:
  US10/866,437
• Publication Number:
  US 20050278237A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The present invention provides a system, apparatus and method for performing a multiple condition investment transaction by: (a) receiving a transaction request for an investment containing two or more non-time-based conditions, each non-time-based condition having an action to be performed whenever the non-time-based condition is satisfied, (b) obtaining market information for the investment, (c) determining whether any of the two or more non-time-based conditions are satisfied based on the market information, (d) repeating steps (b) through (e) whenever none of the two or more non-time-based conditions are satisfied, and (e) performing the action associated with each non-time-based condition that is satisfied whenever any of the non-time-based conditions are satisfied.

Claims

1. A method for performing a multiple condition investment transaction comprising the steps of:

(a) receiving a transaction request for an investment containing two or more non-time-based conditions, each non-time-based condition having an action to be performed whenever the non-time-based condition is satisfied;

(b) obtaining market information for the investment;

(c) determining whether any of the two or more non-time-based conditions are satisfied based on the market information;

(d) repeating steps (b) through (e) whenever none of the two or more non-time-based conditions are satisfied; and

(e) performing the action associated with each non-time-based condition that is satisfied whenever any of the non-time-based conditions are satisfied.

2. The method as recited in claim 1, wherein the transaction request is a buy-side trailing stop order or a sell-side trailing stop order.

3. The method as recited in claim 1, wherein the investment comprises a stock, a bond, a mutual fund, a commodity, an option or a currency pair.

4. The method as recited in claim 1, wherein the non-time-based condition is a target price, a stop price, a price change, a trading volume or a trailing amount.

5. The method as recited in claim 1, wherein the action associated with the non-time-based condition is an instruction to cancel the request, submit an order for the investment, or modify one or more of the non-time-based conditions.

6. The method as recited in claim 1, wherein step (e) further comprises the step of repeating steps (b) through (e) whenever any of the actions performed does not cancel the transaction request or submit an order for the investment.

7. The method as recited in claim 1, wherein step (e) further comprises the step of repeating steps (b) through (e) whenever any of the actions performed modifies one or more of the non-time-based conditions.

8. The method as recited in claim 1, wherein the transaction request further comprises a time-based condition having an associated action to cancel the request.

9. The method as recited in claim 1, wherein the market information includes an asking price, a bid price, a last price, a price change, an opening price, a closing price or a trading volume.

10. The method as recited in claim 1, wherein the two or more non-time-based conditions represent a Boolean formula.

11. The method as recited in claim 1, wherein the transaction request comprises one or more transaction messages.

12. The method as recited in claim 1, wherein one of the non-time-based conditions is a current price for the investment has crossed a target price and the associated action sets a stop price based on the current price and a trail amount.

13. The method as recited in claim 1, wherein one of the non-time-based conditions is a current price for the investment has crossed a stop price and the associated action submits a market order or a limit order for the investment.

14. The method as recited in claim 1, wherein the transaction request is created from one or more inputs provided by a user.

15. The method as recited in claim 14, wherein the one or more inputs include data from fill-in fields, point-and-click operations, drop-down menus, verbal commands, macros or any combination thereof.

16. The method as recited in claim 1, further comprising the step of validating the transaction request.

17. The method as recited in claim 1, further comprising the step of sending a notification of the action taken to an originator of the transaction request.

18. The method as recited in claim 1, further comprising the step of waiting for a specified period of time before performing step (d).

19. The method as recited in claim 1, wherein the transaction request further comprises a quantity of the investment, a buy or sell indication, account information or user information.

20. A computer program embodied in a computer readable medium for performing a multiple condition investment transaction comprising:

(a) a code segment for receiving a transaction request for an investment containing two or more non-time-based conditions, each non-time-based condition having an action to be performed whenever the non-time-based condition is satisfied;

(b) a code segment for obtaining market information for the investment;

(c) a code segment for determining whether any of the two or more non-time-based conditions are satisfied based on the market information;

(d) a code segment for repeating code segments (b) through (e) whenever none of the two or more non-time-based conditions are satisfied; and

(e) a code segment for performing the action associated with each non-time-based condition that is satisfied whenever any of the non-time-based conditions are satisfied.

21. An apparatus for performing a multiple condition investment transaction comprising:

one or more market communication interfaces; and

a processor communicably coupled to the one or more market communications interface, the processor performing the following steps;

(a) receiving a transaction request for an investment containing two or more non-time-based conditions, each non-time-based condition having an action to be performed whenever the non-time-based condition is satisfied,

(b) obtaining market information for the investment from a market via the one or more market communications interfaces,

(c) determining whether any of the two or more non-time-based conditions are satisfied based on the market information,

(d) repeating steps (b) through (e) whenever none of the two or more non-time-based conditions are satisfied, and

(e) performing the action associated with each non-time-based condition that is satisfied whenever any of the non-time-based conditions are satisfied.

22. The apparatus as recited in claim 21, further comprising one or more client communication interfaces communicably coupled to the processor.

23. The apparatus as recited in claim 21, further comprising a management and security system communicably coupled to the processor.

24. The apparatus as recited in claim 21, further comprising one or more input/output devices communicably coupled to the processor.

25. The apparatus as recited in claim 21, further comprising a data storage unit communicably coupled to the processor.

26. The apparatus as recited in claim 21, further comprising a local area network or parallel processing interface communicably coupled to the processor.

27. The apparatus as recited in claim 21, wherein the transaction request is a buy-side trailing stop order or a sell-side trailing stop order.

28. The apparatus as recited in claim 21, wherein the investment comprises a stock, a bond, a mutual fund, a commodity, an option or a currency pair.

29. The apparatus as recited in claim 21, wherein the non-time-based condition is a target price, a stop price, a price change, a trading volume or a trailing amount.

30. The apparatus as recited in claim 21, wherein the action associated with the non-time-based condition is an instruction to cancel the request, submit an order for the investment, or modify one or more of the non-time-based conditions.

31. The apparatus as recited in claim 21, wherein processor step (e) further comprises the step of repeating processor steps (b) through (e) whenever any of the actions performed does not cancel the transaction request or submit an order for the investment.

32. The apparatus as recited in claim 21, wherein processor step (e) further comprises the step of repeating processor steps (b) through (e) whenever any of the actions performed modifies one or more of the non-time-based conditions.

33. The apparatus as recited in claim 21, wherein the transaction request further comprises a time-based condition having an associated action to cancel the request.

34. The apparatus as recited in claim 21, wherein the market information includes an asking price, a bid price, a price change, a last price, an opening price, a closing price or a trading volume.

35. The apparatus as recited in claim 21, wherein the two or more non-time-based conditions represent a Boolean formula.

36. The apparatus as recited in claim 21, wherein the transaction request comprises one or more transaction messages.

37. The apparatus as recited in claim 21, wherein one of the non-time-based conditions is a current price for the investment has crossed a target price and the associated action sets a stop price based on the current price and a trail amount.

38. The apparatus as recited in claim 21, wherein one of the non-time-based conditions is a current price for the investment has crossed a stop price and the associated action submits a market order or a limit order for the investment.

39. The apparatus as recited in claim 21, wherein the transaction request is created from one or more inputs provided by the client.

40. The apparatus as recited in claim 39, wherein the one or more inputs include data from fill-in fields, point-and-click operations, drop-down menus, verbal commands, macros or any combination thereof.

41. The apparatus as recited in claim 21, wherein the processor further performs the step of validating the transaction request.

42. The apparatus as recited in claim 21, wherein the processor further performs the step of sending a notification of the action taken to the client originating the transaction request via the first communications interface.

43. The apparatus as recited in claim 21, wherein the processor further performs the step of waiting for a specified period of time before performing step (d).

44. The apparatus as recited in claim 21, wherein the transaction request further comprises a quantity of the investment, a buy or sell indication, account information or client information.

45. A system for performing a multiple condition investment transaction comprising:

one or more markets;

one or more networks;

one or more market communication interfaces communicably coupled to one or more markets via the one or more networks; and

a processor communicably coupled to the one or more market communications interface, the processor performing the following steps;

(a) receiving a transaction request for an investment containing two or more non-time-based conditions, each non-time-based condition having an action to be performed whenever the non-time-based condition is satisfied,

(b) obtaining market information for the investment from the market via the one or more market communication interfaces,

(c) determining whether any of the two or more non-time-based conditions are satisfied based on the market information,

(d) repeating steps (b) through (e) whenever none of the two or more non-time-based conditions are satisfied, and

(e) performing the action associated with each non-time-based condition that is satisfied whenever any of the non-time-based conditions are satisfied.

46. The system as recited in claim 45, further comprising:

one or more clients; and

one or more client communication interfaces communicably coupled to the processor and the one or more clients via the one or more networks.