Method for directing and executing certified trading interests

• US 20090024516A1
• Filed: 07/17/2008
• Published: 01/22/2009
• Est. Priority Date: 06/01/2000
• Status: Abandoned Application

• Current Assignee: Aritas Group, Inc.
• Original Assignee: Aritas Group, Inc.
• Inventors: Federspiel, Fred J., Waelbroeck, Henri, Angel, James J.
• Application Number:
  US12/219,162
• Publication Number:
  US 20090024516A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Preferred embodiments of the subject invention comprise: (a) electronically receiving securities order-related data regarding a set of securities market participants; (b) electronically storing the received order-related data regarding the set of securities market participants; (c) electronically receiving a securities order-related query (or order parameters) from a first securities market participant; (d) based on the order-related query (or order parameters) received from the first securities market participant and on the securities order-related data regarding the set of securities market participants, computing a dissemination list of securities market participants based on ranking likely contras by probability of execution; and (e) transmitting that dissemination list to an entity who has been granted the privilege of receiving such lists in exchange for being contractually bound to respect confidentiality of the dissemination list and to use the list only for the purpose of sending securities-related information to members of the list.

Claims

1. A method of effecting a targeted auction, comprising the steps of:

(a) electronically receiving data including confidential information regarding market participants;

(b) electronically storing said received data regarding market participants;

(c) electronically receiving information including a first order from a first market participant computer;

(d) electronically storing said information received from said first market participant computer;

(e) producing a targeted dissemination list of market participants based on said stored data regarding market participants and said information received from said first market participant computer;

(f) electronically transmitting to the market participants on said targeted dissemination list data based on said information received from said first market participant computer;

(g) electronically receiving subsequent orders from market participants in response to said transmitted data, wherein market participants have the option of placing an order in an order depository without initiating an auction or invoking targeted dissemination of data, said orders being dormant until an auction is initiated in that stock;

(h) conducting an electronic auction among orders including said orders received in response to said transmitted data; and

(i) electronically transmitting the status of orders to the respective market participants who initiated them.

2. A method as in claim 1, wherein a market participant entering an order into the order depository is permitted to specify relevant order-handling rules.

3. A method as in claim 2, wherein said order-handling rules comprise whether the order will be exposed to random match-check events.

4. A method as in claim 2, wherein said order-handling rules comprise whether the order will be exposed to other orders being entered into order depository.

5. A method as in claim 2, wherein said order-handling rules comprise whether the order will be exposed to advertised orders.

6. A method as in claim 1, wherein order-handing rules are specified for and advertised to market participants.

7. A method as in claim 1, wherein a market participant entering an order can request that a message be generated to notify any party who enters an order on the contra side if the party is close to matching but does not quite have the right price or size for a match.

8. A method as in claim 7, wherein said market participant entering an order can specify what price differential range results in a party being notified that the party is close to matching.

9. A method as in claim 7, wherein said market participant entering an order can specify what size differential range results in a party being notified that the party is close to matching.