Method and apparatus for a fair exchange
First Claim
1. A method of equalizing a time at which client devices receive market data from a host exchange through a plurality of network devices, the method comprising the steps of:
- sending market data from the host exchange to the plurality of network devices over one or more networks, wherein one or more client devices are coupled to each of the plurality of network devices; and
releasing the market data from the plurality of network devices to associated client devices at a pre-determined time, wherein the pre-determined time is computed such that arrival times of the market data at each client device are equalized.
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Accused Products
Abstract
A fair exchange is disclosed to reduce potential inequities in an electronic trading environment. Market data is sent from a host system to client devices through one or more synchronized local communication servers such that the data can be displayed simultaneously or nearly simultaneously at each client device. Market data sent to client devices might include price information. Likewise, a host system may transaction data sent from client devices via the local communication servers. The ordering of transaction data is based, at least in part, on when the local communication servers received the transaction data from the client devices. Transaction data sent to a host system might include order information.
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Citations
2 Claims
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1. A method of equalizing a time at which client devices receive market data from a host exchange through a plurality of network devices, the method comprising the steps of:
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sending market data from the host exchange to the plurality of network devices over one or more networks, wherein one or more client devices are coupled to each of the plurality of network devices; and
releasing the market data from the plurality of network devices to associated client devices at a pre-determined time, wherein the pre-determined time is computed such that arrival times of the market data at each client device are equalized.
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2-31. -31. (canceled)
Specification