Order Management System and Method for Electronic Securities Trading

• US 20080015970A1
• Filed: 04/26/2007
• Published: 01/17/2008
• Est. Priority Date: 04/28/2006
• Status: Active Grant

• Current Assignee: Eze Castle Software LLC (SS&C Technologies Holdings Incorporated)
• Original Assignee: Townsend Analytics Ltd. (SS&C Technologies Holdings Incorporated)
• Inventors: Townsend, Stuart, Brookfield, Bevan
• Granted Patent: US 7,752,123 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06F 9/52 Program synchronisation; Mutual exclusion, e.g. by means of semaphores
• 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

A system includes a communication module to communicate with at least one client; and a server to process a task identified by the client, the task associated with an account, the server including a plurality of account-centric pipelines, one or more account-centric pipelines each configured to process the task.

Claims

1. A system, comprising:

a communication module to communicate with at least one client; and

a server to process a task identified by the client, the task associated with an account, the server including a plurality of account-centric pipelines;

one or more account-centric pipelines each configured to process the task.

2. The system of claim 1, wherein one or more account-centric pipelines each include a pipeline queue to queue the task.

3. The system of claim 1, wherein the server further includes a pipeline thread pool configured to assign an executable thread to the task and the executable thread to one account-centric pipeline.

4. The system of claim 1, wherein one or more account-centric pipelines each include at least one event processor configured to process a subtask of the task.

5. The system of claim 1, wherein one or more account-centric pipelines each include a plurality of event processors, one or more event processors each configured to process a subtask of the task, wherein the plurality of event processors are arranged in an order to sequentially process each subtask in the order.

6. The system of claim 5, wherein the account-centric pipeline is configured to process the task straight through the account-centric pipeline.

7. The system of claim 6, wherein one or more event processors each are configured to assign a suspend flag or a failed flag to the subtask to move the task straight through the account-centric pipeline.

8. The system of claim 1, wherein the task is a compound trade order.

9. The system of claim 8, wherein the compound trade order includes at least one of an order cancel order (OCO), an order send order (OSO), an all-or-none order, and a basket order.

10. A method, comprising the steps of:

queuing a task to a pipeline queue, the task associated with an account;

assigning an executable thread to the task in the pipeline queue and the executable thread to one account-centric pipeline; and

processing the task through the account-centric pipeline.

11. The method of claim 10, wherein one or more account-centric pipelines each include at least one event processor configured to process a subtask of the task.

12. The method of claim 10, wherein one or more account-centric pipelines each include a plurality of event processors, one or more event processors each configured to process a subtask of the task, wherein the plurality of event processors are arranged in an order to sequentially process each subtask in the order.

13. The method of claim 12, wherein the task is processed straight through the account-centric pipeline.

14. The method of claim 13, wherein one or more of the event processors each are configured to assign a suspend flag or a failed flag to the subtask to move the task straight through the account-centric pipeline.

15. The method of claim 10, wherein the task is a compound trade order.

16. The method of claim 15, wherein the compound trade order includes at least one of an order cancel order (OCO), an order send order (OSO), an all-or-none order, and a basket order.

17. A computer program product including a computer readable medium having stored thereon computer executable instructions, which when executed on a computer, directs the computer to perform a method comprising the steps of:

queuing a task to a pipeline queue, the task associated with an account;

assigning an executable thread to the task in the pipeline queue and the executable thread to one account-centric pipeline; and

processing the task through the account-centric pipeline.

18. The computer program product of claim 17, wherein one or more account-centric pipelines each include at least one event processor configured to process a subtask of the task.

19. The computer program product of claim 17, wherein one or more account-centric pipelines each include a plurality of event processors, one or more event processors each configured to process a subtask of the task, wherein the plurality of event processors are arranged in an order to sequentially process each subtask in the order.

20. The computer program product of claim 19, wherein the task is processed straight through the account-centric pipeline.

21. The computer program product of claim 20, wherein one or more of the event processors each are configured to assign a suspend flag or a failed flag to the subtask to move the task straight through the account-centric pipeline.

22. The computer program product of claim 17, wherein the task is a compound trade order.

23. The computer program product of claim 22, wherein the compound trade order includes at least one of an order cancel order (OCO), an order send order (OSO), an all-or-none order, and a basket order.