Implied market trading system
First Claim
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1. A trading system, comprising:
- one or more trading workstations for entry of a plurality of spread orders, at least two of the spread orders being of different spread order types;
a communication network coupled to the trading workstations; and
trade matching system coupled to the communication network, wherein the trade matching system generates a first generation implied spread order based on the different type spread orders having a common and offsetting leg.
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Abstract
A computer based trading system implies spread markets from multiple real or implied spread markets. In particular, one aspect of the invention permits implication of a spread market from a combination of inter-commodity and inter-calendar spread orders. Furthermore, another aspect of the invention allows use of nontradeable implied or bridge markets to combine with other implied or real markets to create further tradeable implied markets. The method described herein thereby permits the creation of all implied markets that are inherent in the combination of futures, calendar spread and inter-commodity spread real orders.
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Citations
19 Claims
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1. A trading system, comprising:
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one or more trading workstations for entry of a plurality of spread orders, at least two of the spread orders being of different spread order types;
a communication network coupled to the trading workstations; and
trade matching system coupled to the communication network, wherein the trade matching system generates a first generation implied spread order based on the different type spread orders having a common and offsetting leg. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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Specification