System and Method for Managing Trading Orders in Aggregated Order Books
First Claim
1. A system for managing trading orders, comprising:
- a memory operable to;
store a first order in a first order book, wherein;
the first order is associated with a first group of traders; and
the first group of traders is associated with a first ruleset;
store a second order in a second order book, wherein;
the second order was received after the first order;
the second order is associated with a second group of traders; and
the second group of traders is associated with a second ruleset;
anda processor communicatively coupled to the memory and operable to;
receive a counterorder associated with a third group of traders, wherein the counterorder matches the first order and the second order; and
execute a first trade associated with the second order and the counterorder, wherein the first trade is executed according to the second ruleset; and
if a portion of the counterorder remains unfilled, execute a second trade associated with the first order and the counterorder, wherein the second trade is executed according to the first ruleset.
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Accused Products
Abstract
A system for managing trading orders comprises a memory operable to store a first order in a first order book. The first order is associated with a first group of traders, which is associated with a first ruleset. The memory is further operable to store a second order in a second order book, wherein the second order was received after the first order. The second order is associated with a second group of traders, which is associated with a second ruleset. The system further comprises a processor communicatively coupled to the memory and operable to receive a counterorder associated with a third group of traders, wherein the counterorder matches the first order and the second order. The processor is further operable to execute a first trade associated with the second order and the counterorder, wherein the first trade is executed according to the second ruleset. If a portion of the counterorder remains unfilled, the processor is further operable to execute a second trade associated with the first order and the counterorder, wherein the second trade is executed according to the first ruleset.
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Citations
18 Claims
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1. A system for managing trading orders, comprising:
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a memory operable to; store a first order in a first order book, wherein; the first order is associated with a first group of traders; and the first group of traders is associated with a first ruleset; store a second order in a second order book, wherein; the second order was received after the first order; the second order is associated with a second group of traders; and the second group of traders is associated with a second ruleset; and a processor communicatively coupled to the memory and operable to; receive a counterorder associated with a third group of traders, wherein the counterorder matches the first order and the second order; and execute a first trade associated with the second order and the counterorder, wherein the first trade is executed according to the second ruleset; and if a portion of the counterorder remains unfilled, execute a second trade associated with the first order and the counterorder, wherein the second trade is executed according to the first ruleset. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method for managing trading orders, comprising:
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storing a first order in a first order book, wherein; the first order is associated with a first group of traders; and the first group of traders is associated with a first ruleset; storing a second order in a second order book, wherein; the second order was received after the first order; the second order is associated with a second group of traders; and the second group of traders is associated with a second ruleset; receiving a counterorder associated with a third group of traders, wherein the counterorder matches the first order and the second order; and executing a first trade associated with the second order and the counterorder, wherein the first trade is executed according to the second ruleset; and if a portion of the counterorder remains unfilled, executing a second trade associated with the first order and the counterorder, wherein the second trade is executed according to the first ruleset. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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Specification