System and method for processing composite trading orders at a client

• US 20070143204A1
• Filed: 04/05/2006
• Published: 06/21/2007
• Est. Priority Date: 12/20/2005
• Status: Active Grant

• Current Assignee: BGC Partners Incorporated (BGC Group, Inc.)
• Original Assignee: eSpeed Incorporated (BGC Group, Inc.)
• Inventors: Claus, Matthew, Noviello, Joseph, Driscoll, James, Manning, Gregory
• Granted Patent: US 7,711,640 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An apparatus for processing a composite trading order comprises an interface operable to display a composite value representing a weighted quantity of a plurality of trading products. The apparatus further comprises a processor operable to receive at least one input representing a composite trading order, wherein the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity. The at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order.

Claims

1. An apparatus for processing a composite trading order, comprising:

an interface operable to display a composite value representing a weighted quantity of a plurality of trading products; and

a processor operable to receive at least one input representing a composite trading order, wherein;

the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity; and

the at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order.

2. The apparatus of claim 1, wherein the composite value is based at least in part on market data representing trading conditions in one or more market centers.

3. The apparatus of claim 1, wherein the interface is operable to update the displayed composite value according to current trading conditions in one or more market centers.

4. The apparatus of claim 1, wherein the displayed composite value is usable to track, substantially simultaneously, the plurality of trading products.

5. The apparatus of claim 1, wherein the weighted quantity of a plurality of trading products is substantially equivalent to a particular quantity of a particular trading product.

6. The apparatus of claim 1, wherein the composite value corresponds to available volumes of the plurality of trading products in one or more market centers.

7. The apparatus of claim 1, wherein the display of the composite value is based at least in part on one or more preferences and/or trading strategies associated with a trader.

8. The apparatus of claim 1, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for one or more notes associated with a first maturity; and

the second trading order is for one or more notes associated with a second maturity.

9. The apparatus of claim 1, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for a particular currency; and

the second trading order is for one or more futures contracts associated with the particular currency.

10. The apparatus of claim 1, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for one or more notes; and

the second trading order is for one or more futures contracts associated with the one or more notes.

11. The apparatus of claim 1, wherein the processor is operable to receive, in a single action, the at least one input.

12. The apparatus of claim 11, wherein the single action comprises a keystroke or a click of a mouse.

13. A method for processing a composite trading order, comprising:

displaying a composite value representing a weighted quantity of a plurality of trading products; and

receiving at least one input representing a composite trading order, wherein;

the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity; and

the at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order.

14. The method of claim 13, wherein the composite value is based at least in part on market data representing trading conditions in one or more market centers.

15. The method of claim 13, further comprising updating the composite value according to current trading conditions in one or more market centers.

16. The method of claim 13, wherein the displayed composite value is usable to track, substantially simultaneously, the plurality of trading products.

17. The method of claim 13, wherein the weighted quantity of a plurality of trading products is substantially equivalent to a particular quantity of a particular trading product.

18. The method of claim 13, wherein the composite value corresponds to available volumes of the plurality of trading products in one or more market centers.

19. The method of claim 13, wherein the display of the composite value is based at least in part on one or more preferences and/or trading strategies associated with a trader.

20. The method of claim 13, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for one or more notes associated with a first maturity; and

the second trading order is for one or more notes associated with a second maturity.

21. The method of claim 13, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for a particular currency; and

the second trading order is for one or more futures contracts associated with the particular currency.

22. The method of claim 13, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for one or more notes; and

the second trading order is for one or more futures contracts associated with the one or more notes.

23. The method of claim 13, wherein the composite trading order is input in a single action by a trader.

24. The method of claim 23, wherein the single action comprises a keystroke or a click of a mouse.

25. Logic for processing a composite trading order, the logic encoded in computer-readable media and operable when executed to:

display a composite value representing a weighted quantity of a plurality of trading products; and

receive at least one input representing a composite trading order, wherein;

the at least one input comprises a quantity that is equal to at least a portion of the weighted quantity; and

the at least one input is usable to generate one or more constituent trading orders that, when filled, combine to satisfy the composite trading order.

26. The logic of claim 25, wherein the composite value is based at least in part on market data representing trading conditions in one or more market centers.

27. The logic of claim 25, wherein the logic is further operable when executed to update the composite value according to current trading conditions in one or more market centers.

28. The logic of claim 25, wherein the displayed composite value is usable to track, substantially simultaneously, the plurality of trading products.

29. The logic of claim 25, wherein the weighted quantity of a plurality of trading products is substantially equivalent to a particular quantity of a particular trading product.

30. The logic of claim 25, wherein the composite value corresponds to available volumes of the plurality of trading products in one or more market centers.

31. The logic of claim 25, wherein the display of the composite value is based at least in part on one or more preferences and/or trading strategies associated with a trader.

32. The logic of claim 25, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for one or more notes associated with a first maturity; and

the second trading order is for one or more notes associated with a second maturity.

33. The logic of claim 25, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for a particular currency; and

the second trading order is for one or more futures contracts associated with the particular currency.

34. The logic of claim 25, wherein:

the one or more constituent trading orders comprise a first trading order and a second trading order;

the first trading order is for one or more notes; and

the second trading order is for one or more futures contracts associated with the one or more notes.

35. The logic of claim 25, wherein the composite trading order is input in a single action by a trader.

36. The logic of claim 35, wherein the single action comprises a keystroke or a click of a mouse.