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System and method for trading derivatives in penny increments while disseminating quotes for derivatives in nickel/dime increments

  • US 20060293998A1
  • Filed: 05/03/2006
  • Published: 12/28/2006
  • Est. Priority Date: 05/05/2005
  • Status: Active Grant
First Claim
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6. A trading engine for handling trading information in standard price increments and reduced price increments, wherein standard price increments are greater than reduced price increments, the trading engine comprising:

  • a communication module for receiving quotes for derivatives in reduced price increments;

    a rounding module in communication with the communication module for receiving the quotes for derivatives in reduced price increments and rounding out the quotes to quotes for the derivative in standard price increments;

    an aggregating module in communication with the rounding module for receiving the quotes for the derivative in standard price increments and aggregating the quotes; and

    a dissemination quote module in communication with the aggregating module to receive and disseminate the aggregated quotes for the derivative in standard price increments.

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