SYSTEMS AND METHODS FOR DYNAMIC DISPLAY OF ORDERS

• US 20080115079A1
• Filed: 11/06/2007
• Published: 05/15/2008
• Est. Priority Date: 11/10/2006
• Status: Abandoned Application

• Current Assignee: CQGT LLC (CQG Incorporated)
• Original Assignee: CQGT LLC (CQG Incorporated)
• Inventors: Mather, Timothy S.
• Application Number:
  US11/935,839
• Publication Number:
  US 20080115079A1
• Time in Patent Office: Days
• US Class Current: 715/774
• CPC Class Codes: G06F 40/103 Formatting, i.e. changing of presentation of documents automatic justification G06F40/189; automatic line break hyphenation G06F40/191
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Systems and methods for dynamic display of orders and trades are provided. Financial instrument data is received from an electronic exchange or a pre-processing application. The financial instrument data may include a variety of information, such as, bid orders, ask orders, sell orders, cancelled orders, and the like. A scrolling trade and order display with a first axis representing a time and a second axis corresponding to a portion of a depth of market for the financial instrument is displayed on a display device. Financial instrument data is then dynamically presented on the scrolling trade and order display in one or more indicative formats to visually indicate information about the data being presented. Examples of indicative formats include coloring text, changing background colors, using strikethrough lines, different fonts, placements of information, linking symbols, and the like.

Claims

1. A computer-implemented method comprising:

receiving financial instrument data about a financial instrument from an electronic exchange;

displaying a scrolling trade and order display with a first axis representing a time and a second axis corresponding to a portion of a depth of market for the financial instrument; and

dynamically presenting the financial instrument data on the scrolling trade and order display in one or more indicative formats.

2. The computer-implemented method of claim 1, wherein the financial instrument data includes information about a depth of market, an inside market, buy orders, sell orders, cancelled orders, completed trades, bid volumes, ask volumes, and trade volumes.

3. The computer-implemented method of claim 1, wherein the one or more indicative formats are selected from combinations of font size, weight, color, and background pattern.

4. The computer-implemented method of claim 3, wherein the one or more indicative formats are selected from bright green text on a dark green background for an ask, bright red text on a dark red background for a bid, black text on a bright green background for a trade executed at the best ask price, gray text for a cancelled order, gray text with a green strikethrough for a cancelled bid, gray text with a red strikethrough for a cancelled ask, gray text with green strikethrough followed by bright green text on a dark green background with identical text for a modified bid, and gray text with a red strikethrough followed by bright red text on a dark red background with identical text for a modified ask.

5. The computer-implemented method of claim 1, further comprising displaying a dotted line across the scrolling trade and order display surrounded by a colored band highlighting an inside market associated with the financial instrument, wherein the dotted line and the colored band remain statically positioned on the scrolling trade and order display.

6. The computer-implemented method of claim 1, further comprising:

dynamically adjusting a price scale displayed on the second axis to reflect the current inside market prices within the colored band when the inside market associated with the financial instrument moves up or down; and

changing the background of the scrolling trade and order display to a second background color different from the first background color being used prior to the move of the inside market.

7. The computer-implemented method of claim 6, further comprising:

displaying a dotted line across the scrolling trade and order display; and

displaying a downward pointing marker below the dotted line if the inside market has moved down; and

displaying an upward point marker above the dotted line if the inside market has moved up.

8. The computer-implemented method of claim 6, further comprising:

displaying a market direction indicator at the top and at the bottom of the scrolling trade and order display indicating a market direction, wherein the market direction indicator includes a background aspect; and

changing the background aspect of the market direction indicator if the movement of the inside market reflects a reversal of the market direction;

or

maintaining the background aspect of the market direction indicator if the movement of the inside market reflects a continuation of the market direction.

9. The computer-implemented method of claim 1, further comprising filtering the financial instrument data received from the electronic exchange based on rules for orders or rules of trades, wherein only financial instrument data meeting the rules of orders or the rules for trades will be dynamically presented on the scrolling trade and order display.

10. The computer-implemented method of claim 1, wherein the financial instrument data includes a plurality of events and the method further comprises:

determining if each of the plurality of events is a trade, a new or cancelled order, or a depth of market change;

if one of the plurality of events is a trade, then formatting the event as a trade and associating with the event one or more indicative formats corresponding to a trade;

if one of the plurality of events is a new or cancelled order, then if the event was a new order, determining if a price and quantity match in the financial data displayed on the scrolling trade and order display and formatting the event by associating with the event one or more indicative formats; and

if one of the plurality of events is a depth of market change, then generating a new or cancelled order corresponding to the depth of market change and if a new order was generated, then determining if a price and a quantity match in the financial data displayed on the scrolling trade and order display correspond to the new order, and formatting the event by associating with the event one or more indicative formats.

11. The computer-implemented method of claim 1, wherein the financial instrument data received from the electronic exchange includes order data points, trade data points, or data points describing changes in the depth of market.

12. The computer-implemented method of claim 11, wherein dynamically presenting the formatted financial instrument data includes displaying a numeric value representing a volume of one of the trade data points or a volume of one of the order data points by aligning the numeric value corresponding to a trade price or an order price of the financial instrument with a price on the second axis.

13. A trading application comprising:

an electronic exchange interface module communicably coupled to an electronic exchange and configured to receive financial instrument data of one or more transactions relating to a financial instrument from the electronic exchange;

a data processing module to process the financial instrument data that is received by the electronic exchange interface module and determine an activity type associated with each of the one or more transactions in the financial instrument data received from the electronic exchange;

a display generation module to present a scrolling trade and order display with a price scale axis corresponding to a portion of a depth of market for the financial instrument, the scrolling trade and order display further including a line across the scrolling trade and order display surrounded by a colored band highlighting an inside market associated with the financial instrument;

a dynamic display module to present each of the one or more transactions in the financial data on the scrolling trade and order display in one or more indicative formats corresponding to the activity type by the data processing module.

14. The trading application of claim 13, wherein the activity type determined from the one or more transactions in the financial instrument data received from the electronic exchange is a trade indicated by a trade descriptor, a new order indicated by a new order descriptor, a cancelled order indicated by an order cancellation descriptor, or change in the depth of market indicated by a change descriptor.

15. The trading application of claim 13, wherein the dynamic display module updates transactions presented on the scrolling trade and order display as new information about the financial instrument is received by the electronic exchange interface module.

16. The trading application of claim 13, wherein the one or more indicative formats selected by the dynamic display module include one or more of the following:

bright green text on a dark green background for an ask;

bright red text on a dark red background for a bid;

black text on a bright green background for a trade executed at the best ask price;

gray text for a cancelled order;

gray text with a green strikethrough for a cancelled bid;

gray text with a red strikethrough for a cancelled ask;

gray text with green strikethrough followed by bright green text on a dark green background with identical text for a modified bid; and

gray text with a red strikethrough followed by bright red text on a dark red background with identical text for a modified ask.

17. The trading application of claim 13, wherein the trading application is running on a client computer communicably coupled to a financial data server running a server-side application.

18. The trading application of claim 13, wherein the dynamic display module decreases the text size as the financial data relating to a trade or order is further away from the inside market.

19. The trading application of claim 13, further comprising an indicator module to display on the scrolling trade and order display a last trade direction marker on the price scale axis illustrating a last trade direction, an inside market change marker illustrating a change in the inside market, and a market direction indicator illustrating a market trend.

20. The trading application of claim 13, wherein the data processing module includes a filtering module to remove orders in the financial data that are placed and cancelled within a user-specified time period.

21. A system for trading financial instruments comprising:

a display device operable to display a graphical user interface;

a display input/output device in communication with the display device;

a microprocessor in communication with the display input/output device and operable to execute instructions stored in memory;

a memory having microprocessor executable instructions, wherein the microprocessor executable instructions cause the microprocessor to communicate display data to the display input/output device to cause a scrolling trade and order display to be displayed on the display device, wherein the scrolling trade and order display comprises with a time axis and a dynamic price scale axis corresponding to a portion of a depth of market for the financial instrument, the scrolling trade and order display further including a line across the scrolling trade and order display surrounded by a colored band highlighting an inside market associated with the financial instrument, wherein the dotted line and the colored band remain statically positioned on the scrolling trade and order display; and

the microprocessor executable instructions further cause the microprocessor to display the financial instrument data with one or more visual indicators on the scrolling trade and order display.

22. The system for trading financial instruments of claim 21, wherein the microprocessor executable instructions further cause the microprocessor to dynamically adjust the dynamic price scale axis so that the inside market remains within the colored band.

23. The system for trading financial instruments of claim 22, wherein the microprocessor executable instructions further cause the microprocessor to change a background color of the scrolling trade and order display from a first color to a second color starting at a time on the time axis corresponding to when the inside market changed.

24. A computer-readable storage medium containing a set of instructions capable of causing one or more processors to:

receive financial instrument data about a financial instrument from an electronic exchange or a pre-processing application;

display a scrolling trade and order display with a time axis and a price scale axis corresponding to a portion of a depth of market for the financial instrument, the scrolling trade and order display further including a line across the scrolling trade and order display surrounded by a colored band highlighting an inside market associated with the financial instrument; and

dynamically present the financial instrument data with one or more visual indicators on the scrolling trade and order display.

25. The computer-readable storage medium of claim 24, wherein the dotted line and the colored band remain statically positioned on the scrolling trade and order display as the price scale axis changes corresponding to the inside market.