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Method of trading a financial instrument using stop-order quantity

  • US 20060112000A1
  • Filed: 11/22/2004
  • Published: 05/25/2006
  • Est. Priority Date: 11/22/2004
  • Status: Abandoned Application
First Claim
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1. In a computerized trading system for use by traders comprising a microprocessor memory storage means, and applications software stored by said memory storage means for execution by said microprocessor;

  • said applications software comprising first means for retrieving market data from a market for obtaining the market price, bid quantity, and offer quantity of a traded instrument for use by a trader in determining buy and sell orders in said traded instrument, second means for providing specified input data about price and trade quantity of one of a buy limit order and a sell limit for the traded instrument, and third means for transmitting the one buy limit order and sell limit order to said market for executing said order based on said specified input data;

    the improvement comprising;

    said second means providing limit price and stop price criteria upon which said one limit order is based, and providing a stop quantity order trigger for said one limit order, said stop quantity order trigger defining a minimum quantity below which and at which said one limit order is submitted, and above which said market order is pending;

    said minimum quantity being a trigger limit for submitting said one limit order;

    whereby when said one of the market bid quantity or market offer quantity of the traded instrument is one of equal to and less than said specified minimum quantity, said one limit order is submitted to said market for execution.

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