Click Based Trading with Intuitive Grid Display of Market Depth and Price Consolidation
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Abstract
A method and system for reducing the time it takes for a trader to place a trade when electronically trading on an exchange, thus increasing the likelihood that the trader will have orders filled at desirable prices and quantities. The “Mercury” display and trading method of the present invention ensure fast and accurate execution of trades by displaying market depth on a vertical or horizontal plane, which fluctuates logically up or down, left or right across the plane as the market prices fluctuate. This allows the trader to trade quickly and efficiently. The price consolidation feature of the present invention, as described herein, enables a trader to consolidate a number of prices in order to condense the display. Such action allows a trader to view a greater range of prices and a greater number of orders in the market at any given time. By consolidating prices, and therefore orders, a trader reduces the risk of a favorable order scrolling from the screen prior to filling a bid or ask on that order at a favorable price.
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Citations
6 Claims
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1. (canceled)
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2. A method for displaying market information relating to a commodity being traded in a market, the method including:
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generating a consolidated price level, wherein the consolidated price level represents a range of price levels for a commodity; generating a consolidated quantity indicator, wherein the consolidated quantity indicator represents a plurality of quantity indicators associated with the range of price levels for the commodity represented by the consolidated price level; displaying on a user interface of an electronic trading system the consolidated quantity indicator in association with the consolidated price level on a price axis including a plurality of consolidated price levels for the commodity, wherein the consolidated price level is displayed on the price axis in place of the range of price levels; and displaying a plurality of locations in an order entry region, wherein each location in the order entry region corresponds to a consolidated price level along the price axis, and wherein each location in the order entry region is configured to receive a single action command from a user input device that sets a plurality of parameters for a trade order relating to the commodity and sends the trade order to an electronic exchange. - View Dependent Claims (3, 4, 5, 6)
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Specification