Initiating orders to buy or sell tradeable objects

• US 20060149654A1
• Filed: 12/31/2004
• Published: 07/06/2006
• Est. Priority Date: 12/31/2004
• Status: Abandoned Application

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Burns, Michael J.
• Application Number:
  US11/026,779
• Publication Number:
  US 20060149654A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06F 3/016 Input arrangements with force or tactile feedback as computer generated output to the user
• CPC Class Codes: G06F 3/0219 Special purpose keyboards
• CPC Class Codes: G06F 3/0238 Programmable keyboards key guide holders G06F3/0224
• CPC Class Codes: G06F 3/04886 by partitioning the display area of the touch-screen or the surface of the digitising tablet into independently controllable areas, e.g. virtual keyboards or menus
• CPC Class Codes: G06F 3/0489 using dedicated keyboard keys or combinations thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and method for providing order entry devices which are tailored for use in an electronic trading environment are described herein. To assist traders in performing at their most optimum levels, some of the preferred order entry devices include only input mechanisms tailored for fast data entry into a trading terminal. In addition, some of the preferred order entry devices also include output display mechanisms to display market information in direct association with the input mechanisms. The order entry devices may be only a hardware solution or a combination of hardware and software components to allow traders to successfully interface with any particular type of trading software or application.

Claims

1. A method of placing a trade order for a tradeable object on an electronic exchange, the method comprising:

establishing a fixed association between a plurality of prices and a plurality of buttons, each price being associated with two buttons and each of the two buttons being associated with either buying a tradeable object or selling the tradeable object at the corresponding price;

receiving a selection of a button;

determining the association between the selected button and one of the plurality of prices and whether the selected button corresponds to buying or selling the tradeable object;

when the selected button corresponds to buying the tradeable object, sending an order to buy the tradeable object at the determined price to an electronic exchange; and

when the selected button corresponds to selling the tradeable object, sending an order to sell the tradeable object at the determined price to the electronic exchange.

2. The method of claim 1 further comprising the step of receiving a re-positioning command and in response to receipt of the re-positioning command, establishing a new fixed association between the plurality of prices and the plurality of buttons such that a different price is associated with each of the two buttons.

3. The method of claim 2 wherein the re-centering command is initiated by a user through an action on a user input device or automatically by a program.

4. The method of claim 1 wherein each price is associated with more than two buttons, each additional button is for taking a particular action related to a trade order at the corresponding price.

5. The method of claim 4 wherein an additional button upon selection comprises deleting at least a portion of the trade order at the corresponding price.

6. The method of claim 1 further comprising setting a preset quantity parameter for the trade order such that the order to buy or the order to sell the tradeable object is for an amount corresponding to the preset quantity parameter.

7. The method of claim 1 further comprising the step of displaying on a graphical interface the fixed association between the plurality of prices and the plurality of buttons.

8. The method of claim 1 wherein the plurality of buttons comprise a plurality of keys arranged on keyboard for use in placing the trade order.

9. A client system for placing a trade order for a tradeable object on an electronic exchange, the system comprising:

a plurality of buttons;

a mapping component for establishing a fixed association between a plurality of buttons with a plurality of prices, each price being associated with two buttons and each of the two buttons being associated with either buying the tradeable object or selling the tradeable object at the corresponding price;

in response to a selection of a button, an order generation component for determining the association between the selected button and one of the plurality of prices and whether the selected button corresponds to buying or selling the tradeable object;

when the selected button corresponds to buying the tradeable object, the order generation component for sending an order to buy the tradeable object at the determined price to an electronic exchange; and

when the selected button corresponds to selling the tradeable object, the order generation component for sending an order to sell the tradeable object at the determined price to the electronic exchange.

10. The client system of claim 9 wherein the mapping component is configured to receive a re-positioning command and in response to receipt of the re-positioning command, the mapping component establishes a new fixed association between the plurality of prices and the plurality of buttons such that a different price is associated with each of the two buttons.

11. The client system of claim 10 wherein the re-centering command is initiated by a user through an action on a user input device or automatically by a program.

12. The client system of claim 10 wherein each price is associated with more than two buttons, each additional button is for taking a particular action related to a trade order at the corresponding price.

13. The client system of claim 12 wherein an additional button upon selection comprises deleting at least a portion of the trade order at the corresponding price.

14. The client system of claim 9 wherein the order generation component is configured for receiving a preset quantity parameter for the trade order such that the order to buy or the order to sell the tradeable object is for an amount corresponding to the preset quantity parameter.

15. The client system of claim 9 further comprising a display device for displaying the fixed association between the plurality of prices and the plurality of buttons.

16. The client system of claim 9 wherein the plurality of buttons comprise a plurality of keys arranged on keyboard for use in placing the trade order.

17. A client system for placing a trade order for a tradeable object on an electronic exchange, the system comprising:

a plurality of buttons comprising a first group of buttons and a second group of buttons, the first group of buttons corresponding to price levels above a first price and the second group of buttons corresponding to price levels below a second price;

a mapping component for establishing a fixed association between a plurality of buttons with a plurality of prices, each price being associated with two buttons and each of the two buttons being associated with either buying the tradeable object or selling the tradeable object at the corresponding price;

in response to a selection of a button, an order generation component for determining the association between the selected button and one of the plurality of prices and whether the selected button corresponds to buying or selling the tradeable object;

when the selected button corresponds to buying the tradeable object, the order generation component for sending an order to buy the tradeable object at the determined price to an electronic exchange; and

when the selected button corresponds to selling the tradeable object, the order generation component for sending an order to sell the tradeable object at the determined price to the electronic exchange.

18. The client system of claim 17 wherein the plurality of buttons comprise keys arranged on a keyboard such that the each of the two buttons correspond to a price along an axis having a price of highest value at a first end of the axis and having a price of the lowest value at the second end of the axis.

19. The client system of claim 18 wherein the first group of buttons and the second group of buttons are separated by a divider near the center of the axis such that first the first price is a price of higher value than the second price.

20. The client system of claim 17 wherein the mapping component is configured to receive a re-positioning command and in response to receipt of the re-positioning command, the mapping component establishes a new fixed association between the plurality of prices and the plurality of buttons such that a different price is associated with each of the two buttons.