System and method for variably regulating order entry in an electronic trading system
First Claim
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1. A method for variably regulating order entry in an electronic trading application, the method comprising:
- setting a plurality of ranges, where each range has associated with it at least one tolerance parameter;
placing a first order having an order parameter;
calculating an effective order parameter in response to a command;
retrieving a range from the plurality of ranges, where the range that is retrieved is based in part on the order parameter of the first order;
determining if the effective order parameter remains within a plurality of values determined by the order parameter and the at least one tolerance parameter; and
if so, refraining from replacing the first order having the order parameter with a second order having the effective order parameter.
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Abstract
A system and method are provided to intelligently limit the frequency at which automated or semi-automated trading tools move or re-price orders in an exchange order book. A tolerance may be input that limits when one or more orders in the exchange order book are moved from one price to another. The system and method assist in reducing the number of orders that are entered into the system which can lead to reduced exchange transaction fees, lost queue position, and reduce network bandwidth consumption.
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Citations
2 Claims
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1. A method for variably regulating order entry in an electronic trading application, the method comprising:
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setting a plurality of ranges, where each range has associated with it at least one tolerance parameter;
placing a first order having an order parameter;
calculating an effective order parameter in response to a command;
retrieving a range from the plurality of ranges, where the range that is retrieved is based in part on the order parameter of the first order;
determining if the effective order parameter remains within a plurality of values determined by the order parameter and the at least one tolerance parameter; and
if so, refraining from replacing the first order having the order parameter with a second order having the effective order parameter.
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2-37. -37. (canceled)
Specification