Systems, methods, and media for trading securities

• US 20090018968A1
• Filed: 02/17/2008
• Published: 01/15/2009
• Est. Priority Date: 02/16/2007
• Status: Abandoned Application

• Current Assignee: ConvergEx Group LLC (Toronto-Dominion Bank)
• Original Assignee: ConvergEx Group LLC (Toronto-Dominion Bank)
• Inventors: Byrne, Matthew T., Ardell, Gary
• Application Number:
  US12/032,682
• Publication Number:
  US 20090018968A1
• Time in Patent Office: Days
• US Class Current: 705/36.R
• 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, methods, and media for trading securities are provided. In some embodiments, methods for trading securities are provided, the methods comprising: accessing at least one record of an order in a trading blotter, the order having a security and side; sending a notification message indicating the security and side for the order; searching for a match for the notification message; if a match is found, obtaining a quantity associated with the order; and determining whether the quantity is adequate for executing a trade.

Claims

1. A method for trading securities comprising:

accessing at least one record of an order in a trading blotter, the order having a security and side;

sending a notification message indicating the security and side for the order;

searching for a match for the notification message;

if a match is found, obtaining a quantity associated with the order; and

determining whether the quantity is adequate for executing a trade.

2. The method of claim 1, further comprising automatically executing a trade for the order.

3. The method of claim 1, further comprising inviting two parties corresponding to the trade to negotiate.

4. The method of claim 1, wherein obtaining the quantity comprises polling for quantity and receiving a status message.

5. The method of claim 1, further comprising determining whether two non-matching orders are similar and notifying a trader of that the orders are similar.

6. The method of claim 5, further comprising providing an interface of symbol names and modifying the display of a symbol name for a security if two similar orders in that security are identified.

7. The method of claim 6, wherein modifying the display comprising blinking the symbol name.

8. The method of claim 1, receiving a user selection specifying how orders of a trader are to be shared.

9. The method of claim 1, wherein the at least one record of the order is for an uncommitted order.

10. The method of claim 1, wherein searching for a match for the notification message comprises comparing the notification message to a designated order.

11. The method of claim 1, wherein searching for a match for the notification message comprises comparing the notification message to an uncommitted order.

12. A method for performing a negotiated trade in a security comprising:

checking for unusual activity in the security;

waiting a random or semi-random period of time;

causing a trader to receive an indication that a negotiated trade has been initiated;

determining if a trade offer from the trader is at or better than the mid-point price in the security for a contra party to the trader;

if the trade is at or better than the mid-point price, accepting the trade offer; and

executing the trade.

13. The method of claim 12, further comprising making a trade offer at the mid-point price for the security.

14. A system for trading securities comprising:

one or more processors that;

access at least one record of an order in a trading blotter, the order having a security and side;

send a notification message indicating the security and side for the order;

search for a match for the notification message;

if a match is found, obtain a quantity associated with the order; and

determine whether the quantity is adequate for executing a trade.

15. The system of claim 14, wherein the one or more processors also automatically execute a trade for the order.

16. The system of claim 14, wherein the one or more processors also invite two parties corresponding to the trade to negotiate.

17. The system of claim 14, wherein obtaining the quantity comprises polling for quantity and receiving a status message.

18. The system of claim 14, wherein the one or more processors also determine whether two non-matching orders are similar and notify a trader of that the orders are similar.

19. The system of claim 18, wherein the one or more processors also provide an interface of symbol names and modify the display of a symbol name for a security if two similar orders in that security are identified.

20. The system of claim 19, wherein modifying the display comprising blinking the symbol name.

21. The system of claim 14, wherein the one or more processors also receive a user selection specifying how orders of a trader are to be shared.

22. The system of claim 14, wherein the at least one record of the order is for an uncommitted order.

23. The system of claim 14, wherein searching for a match for the notification message comprises comparing the notification message to a designated order.

24. The system of claim 14, wherein searching for a match for the notification message comprises comparing the notification message to an uncommitted order.

25. A system for performing a negotiated trade in a security comprising:

one or more processors that;

check for unusual activity in the security;

wait a random or semi-random period of time;

cause a trader to receive an indication that a negotiated trade has been initiated;

determine if a trade offer from the trader is at or better than the mid-point price in the security for a contra party to the trader;

if the trade is at or better than the mid-point price, accept the trade offer; and

execute the trade.

26. The system of claim 25, wherein the one or more processors also make a trade offer at the mid-point price for the security.

27. A computer-readable medium containing computer-executable instructions that, when executed by a processor, cause the processor to perform a method for trading securities, the method comprising:

accessing at least one record of an order in a trading blotter, the order having a security and side;

sending a notification message indicating the security and side for the order;

searching for a match for the notification message;

if a match is found, obtaining a quantity associated with the order; and

determining whether the quantity is adequate for executing a trade.

28. A computer-readable medium containing computer-executable instructions that, when executed by a processor, cause the processor to perform a method for performing a negotiated trade in a security, the method comprising:

checking for unusual activity in the security;

waiting a random or semi-random period of time;

causing a trader to receive an indication that a negotiated trade has been initiated;

determining if a trade offer from the trader is at or better than the mid-point price in the security for a contra party to the trader;

if the trade is at or better than the mid-point price, accepting the trade offer; and

executing the trade.