Shareable quote streams
First Claim
1. A method of providing quotes in an online asset trading network, comprising:
- (a) establishing with a provider trading system a first shareable quote stream for a currency pair, said first shareable quote stream having a tier limit;
(b) receiving from a customer trading system a request for quotes comprising a requested order size;
(c) transmitting said request for quotes to said provider trading system;
(d) receiving from said provider trading system a quote control gesture comprising an available order size for said customer trading system;
(e) receiving a shareable quote from said provider trading system via said first shareable quote stream;
(f) converting said shareable quote into a customer-specific quote comprising a size part equal to the minimum of said tier limit, said available order size and said requested order size;
(g) sending said customer-specific quote to said customer trading system; and
(h) iteratively repeating steps (e)-(g) until an occurrence of a specified event.
2 Assignments
0 Petitions
Accused Products
Abstract
Method and apparatus for providing price quote streams to a multiplicity of customers in an online asset trading system. The invention allows providers to establish, maintain and revise only one shareable price quote stream (or, alternatively, just a relative few number of shareable price quote streams) for each currency pair and have that one shareable price quote stream (or that relative few number of shareable price quote streams) automatically converted to customer-specific price quote streams and distributed to a large number of customers simultaneously, without consuming a correspondingly large amount of additional time or resources on the providers'"'"' trading system. Each customer-specific price quote stream contains quotes having order size parts that are derived from customer-specific factors, such as the customer'"'"'s credit limit and/or the customer'"'"'s requested order size.
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Citations
44 Claims
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1. A method of providing quotes in an online asset trading network, comprising:
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(a) establishing with a provider trading system a first shareable quote stream for a currency pair, said first shareable quote stream having a tier limit;
(b) receiving from a customer trading system a request for quotes comprising a requested order size;
(c) transmitting said request for quotes to said provider trading system;
(d) receiving from said provider trading system a quote control gesture comprising an available order size for said customer trading system;
(e) receiving a shareable quote from said provider trading system via said first shareable quote stream;
(f) converting said shareable quote into a customer-specific quote comprising a size part equal to the minimum of said tier limit, said available order size and said requested order size;
(g) sending said customer-specific quote to said customer trading system; and
(h) iteratively repeating steps (e)-(g) until an occurrence of a specified event. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25)
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26. An online trading system, comprising:
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a customer communication interface that receives from a customer trading system a request for quotes comprising a currency pair and a requested order size;
a provider communication interface, coupled to said customer communication interface, that transmits said request for quotes to a provider trading system; and
a quote distributor that establishes a shareable quote stream for said provider trading system for said currency pair, said shareable quote stream having a tier limit, and that receives from said provider trading system, via said provider communication interface, a quote control gesture comprising an available order size for said customer trading system;
wherein, until an occurrence of a specified event, said quote distributor iteratively (i) receives a shareable quote from said provider trading system via said shareable quote stream, (ii) converts said shareable quote into a customer-specific quote comprising a size part equal to the minimum of said tier limit, said available order size and said requested order size, and (iii) sends said customer-specific quote to said customer trading system via said customer communication interface. - View Dependent Claims (27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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39. An online trading system, comprising:
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(a) means for establishing with a provider trading system a first shareable quote stream for a currency pair and a tier limit;
(b) means for receiving from a customer trading system a request for quotes comprising a requested order size;
(c) means for transmitting said request for quotes to said provider trading system;
(d) means, responsive to said transmitting means, for receiving from said provider trading system a quote control gesture comprising an available order size for said customer trading system;
(e) means for receiving a shareable quote from said provider trading system via said first shareable quote stream;
(f) means for converting said shareable quote into a customer-specific quote comprising a size part equal to the minimum of said tier limit, said available order size and said requested order size;
(g) means for sending said customer-specific quote to said customer trading system; and
(h) means for iteratively repeating steps (e)-(g) until an occurrence of a specified event. - View Dependent Claims (40, 41, 42, 43, 44)
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Specification