Drag-and-drop graphical control interface for algorithmic trading engine

• US 20080021809A1
• Filed: 04/06/2007
• Published: 01/24/2008
• Est. Priority Date: 04/28/2006
• Status: Active Grant

• Current Assignee: Portware LLC (FactSet Research Systems Incorporated)
• Original Assignee: Aritas Group, Inc.
• Inventors: Shapiro, Andrew, Dempsey, Ian, Gamse, Brent, Burmeister, Abe, Waelbroeck, Henri
• Granted Patent: US 7,882,013 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06F 3/04847 Interaction techniques to control parameter settings, e.g. interaction with sliders or dials
• CPC Class Codes: G06F 3/0486 Drag-and-drop
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A graphical user interface is used along with an automated algorithm selection function to enable market participants to initiate automated, multi-algorithm trading strategies through a single drag and drop motion. A symbol representing a security can be dragged and dropped onto an icon representing a tactical or strategic algorithm. Other features of the graphical user interface show information such as the progress of the algorithms.

Claims

1. A method for allowing a buyer, seller, broker, dealer, exchange, market, intermediary, trader, or other market participant, (collectively, “

trader”

) to select at least one algorithm for trading, comprising;

(a) displaying a graphical control interface comprising a plurality of graphical representations of available trading algorithms;

(b) receiving an input from the trader when the trader indicates a selection of at least one of the graphical representations; and

(c) performing the at least one algorithm selected by the trader.

2. The method of claim 1, wherein said trading comprises trading for financial instruments or derivatives of financial instruments.

3. The method of claim 1, wherein the set of algorithms available represents a hierarchy of automation levels from minimally automated to fully automated.

4. The method of claim 1, wherein the set of algorithms comprises a plurality of tactical algorithms.

5. The method of claim 1, wherein the set of algorithms comprises a plurality of strategic algorithms.

6. The method of claim 5, wherein the set of algorithms further comprises a plurality of tactical algorithms.

7. The method of claim 1, wherein the set of algorithms comprises at least one tactical algorithm and at least one strategic algorithm.

8. The method of claim 1, wherein the graphical control interface includes a display of a calculated expected execution rate before or after the trader completes the input that begins performance of the at least one algorithm.

9. The method of claim 1, further comprising enabling the trader to manage the limit price and aggression parameters of the algorithm via graphical controls in the control interface once it is in operation.

10. The method of claim 9, which includes an indicator that unless the trader alters the mix of algorithms and/or the parameters of the algorithms, there may not be enough time left in the trading day to complete trading of the trader'"'"'s outstanding order or orders.

11. The method of claim 9, further comprising enabling the trader to single-click on a graphic representation of a price scale, above or below the limit price cursor to move the limit up or down, or on a control associated with the graphic representation of the algorithm to modify aggression.

12. The method of claim 11, wherein the price scale comprises a liquidity graph.

13. The method of claim 1, wherein the graphic representation of one or more of the available trading algorithms is displayed as a behavior matrix to reveal characteristics of the corresponding algorithm.

14. The method of claim 1, wherein the trader indicates the selection through a one-click procedure.

15. The method of claim 1, wherein the trader indicates the selection by using a pointing device to indicate the selection in the graphical control interface.

16. The method of claim 15, wherein the trader indicates the selection through dragging and dropping.

17. The method of claim 16, where the step of dragging and dropping also sets the value of parameters comprising at least one of price limit and aggression, based on the drop location.

18. The method of claim 15, wherein the step of dragging and dropping sets the value of the symbol being traded based upon dropping on a representation of the symbol on a grid.

19. The method of claim 18, where the side and quantity parameters of the algorithm are determined through an interface to at least one of an order management system and a dashboard in the graphical control interface.

20. The method of claim 1, wherein the graphical control interface comprises an activity display panel which displays information about algorithmic activity, including but not limited to orders executed and the limits of each of the active algorithms.

21. The method of claim 1, wherein the graphical control interface comprises an activity display panel which displays information about orders pending.

22. The method of claim 21, wherein the activity display panel permits the trader to cancel at least one of the orders pending.

23. The method of claim 22, wherein the activity display panel permits the trader to cancel said at least one of the orders pending by clicking on said at least one of the orders pending.

24. The method of claim 21, wherein the display panel displays all of the order information at once.

25. The method of claim 1, wherein the trader input is indicated through a series of graphical symbols that comprise graphical symbols for pausing, canceling and restarting the algorithms.

26. The method of claim 25, wherein the graphical symbols comprise buttons that the trader can click with a pointing device.

27. A system for allowing a buyer, seller, broker, dealer, exchange, market, intermediary, trader, or other market participant, (collectively, “

trader”

) to select at least one algorithm for trading, comprising;

a display device;

a user input device;

a communication device for communicating with an external system; and

a processor, in communication with the display device, the user input device and the communication device, the processor being programmed for;

(a) displaying a graphical control interface on the display device, the graphical control interface comprising a plurality of graphical representations of available trading algorithms;

(b) receiving an input from the trader through the user input device when the trader indicates a selection of at least one of the graphical representations; and

(c) performing the at least one algorithm selected by the trader.

28. The system of claim 27, wherein said trading comprises trading for financial instruments or derivatives of financial instruments.

29. The system of claim 27, wherein the set of algorithms available represents a hierarchy of automation levels from minimally automated to fully automated.

30. The system of claim 27, wherein the set of algorithms comprises a plurality of tactical algorithms.

31. The system of claim 27, wherein the set of algorithms comprises a plurality of strategic algorithms.

32. The system of claim 31, wherein the set of algorithms further comprises a plurality of tactical algorithms.

33. The system of claim 27, wherein the set of algorithms comprises at least one tactical algorithm and at least one strategic algorithm.

34. The system of claim 27, wherein the graphical control interface includes a display of a calculated expected execution rate before or after the trader completes the input that begins performance of the at least one algorithm.

35. The system of claim 27, further comprising enabling the trader to manage the limit price and aggression parameters of the algorithm via graphical controls in the control interface once it is in operation.

39. The system of claim 27, wherein the graphic representation of one or more of the available trading algorithms is displayed as a behavior matrix to reveal characteristics of the corresponding algorithm.

40. The system of claim 27, wherein the trader indicates the selection through a one-click procedure.

41. The system of claim 27, wherein the trader indicates the selection by using a pointing device to indicate the selection in the graphical control interface.

42. The system of claim 41, wherein the trader indicates the selection through dragging and dropping.

43. The system of claim 42, where the step of dragging and dropping also sets the value of parameters comprising at least one of price limit and aggression, based on the drop location.

44. The system of claim 41, wherein the step of dragging and dropping sets the value of the symbol being traded based upon dropping on a representation of the symbol on a grid.

45. The system of claim 44, where the side and quantity parameters of the algorithm are determined through an interface to at least one of an order management system and a dashboard in the graphical control interface.

46. The system of claim 27, wherein the graphical control interface comprises an activity display panel which displays information about algorithmic activity, including but not limited to orders executed and the limits of each of the active algorithms.

47. The system of claim 27, wherein the graphical control interface comprises an activity display panel which displays information about orders pending.

48. The system of claim 47, wherein the activity display panel permits the trader to cancel at least one of the orders pending.

49. The system of claim 48, wherein the activity display panel permits the trader to cancel said at least one of the orders pending by clicking on said at least one of the orders pending.

50. The system of claim 47, wherein the display panel displays all of the order information at once.

51. The system of claim 27, wherein the trader input is indicated through a series of graphical symbols that comprise graphical symbols for pausing, canceling and restarting the algorithms.

52. The system of claim 51, wherein the graphical symbols comprise buttons that the trader can click with a pointing device.

36. The system of claim 36, which includes an indicator that unless the trader alters the mix of algorithms and/or the parameters of the algorithms, there may not be enough time left in the trading day to complete trading of the trader'"'"'s outstanding order or orders.

37. The system of claim 36, further comprising enabling the trader to single-click on a graphic representation of a price scale, above or below the limit price cursor to move the limit up or down, or on a control associated with the graphic representation of the algorithm to modify aggression.

38. The system of claim 37, wherein the price scale comprises a liquidity graph.

53. An article of manufacture for allowing a buyer, seller, broker, dealer, exchange, market, intermediary, trader, or other market participant, (collectively, “

trader”

) to select at least one algorithm for trading, comprising;

a computer-readable storage medium; and

code stored on the computer-readable storage medium, the code, when executed on a computing device, controlling the computing device for;

(a) displaying a graphical control interface comprising a plurality of graphical representations of available trading algorithms;

(b) receiving an input from the trader when the trader indicates a selection of at least one of the graphical representations; and

(c) performing the at least one algorithm selected by the trader.