Method, Apparatus, and Interface for Trading Multiple Tradeable Objects

• US 20100036766A1
• Filed: 10/16/2009
• Published: 02/11/2010
• Est. Priority Date: 11/13/2002
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Burns, Michael J.
• Granted Patent: US 8,015,100 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• 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

An interface for trading multiple tradeable objects includes a price axis or scale. A first indication of quantities represented in a market for a first tradeable object is displayed in association with the price axis or scale. A second indication of quantities represented in the market for a second tradeable object is displayed in association with the price axis or scale. The first tradeable object may be different than the second tradeable object. Alternatively, the first tradeable object and the second tradeable object may be the same, but the indications of quantity may be provided from different sources, such as different exchanges.

Claims

1. A graphical user interface for facilitating trading and displaying market information relating to two tradeable objects being traded on at least one electronic exchange, comprising:

a first combined quantity indicator being dynamically displayed at a location corresponding to a first price level of a plurality of price levels on a common static price axis, the first combined quantity indicator representing quantity associated with an order to buy a first tradeable object and an order to buy a second tradeable object, wherein the first tradeable object and the second tradeable object are different tradeable objects;

a second combined quantity indicator being dynamically displayed at a location corresponding to a second price level on the common static price axis, the second combined quantity indicator representing quantity associated with an order to sell the first tradeable object and an order to sell the second tradeable object;

an order entry region comprising a plurality of locations corresponding to the plurality of price levels along the common static price axis, such that a selection of one of the plurality of locations by a single action of a user input device sends a trade order for the first tradeable object, the second tradeable object, or both the first tradeable object and the second tradeable object;

wherein in response to a selection of one of the plurality of locations of the order entry region, a quantity allocation rule is used to allocate an order quantity of the trade order to the first tradeable object, the second tradeable object, or both the first tradeable object and the second tradeable object.

2. The graphical user interface of claim 1, wherein the quantity allocation rule is user-defined.

3. The graphical user interface of claim 1, wherein the quantity allocation rule comprises a ratio to allocate the order quantity between the first tradeable object and the second tradeable object.

4. The graphical user interface of claim 1, wherein the quantity allocation rule is based on based on an exchange related parameter.

5. The graphical user interface of claim 4, wherein the exchange related parameter comprises a length of an order queue at a price of the trade order at an electronic exchange.

6. The graphical user interface of claim 4, wherein the exchange related parameter a time that is required for an order to be received at an electronic exchange.

7. The graphical user interface of claim 4, wherein the exchange related parameter comprises transaction costs at an electronic exchange.

8. The graphical user interface of claim 4, wherein the exchange related parameter comprises a time of a last update received from an electronic exchange.

9. The graphical user interface of claim 4, wherein the quantity allocation rule comprises a quantity allocation rule that is based on a user-related parameter.

10. The graphical user interface of claim 9, wherein the user-related parameter is based on a user'"'"'s margin at an electronic exchange.

11. The graphical user interface of claim 1, wherein the quantity allocation rule selected for use in relation to the trade order is selected based on time-of-day.

12. The graphical user interface of claim 1, wherein the quantity allocation rule is selected based on a type of command received to send the trade order.

13. The graphical user interface of claim 12, wherein a right click of a mouse corresponds to a command to send the trade order for the first tradeable object, and wherein the left click of the mouse corresponds to a command to send the trade order for the second tradeable object.

14. The graphical user interface of claim 1, wherein the single action of the user input device consists of a single click of a mouse.

15. The graphical user interface of claim 1, wherein the single action of the user input device consists of a double-click of a mouse.

16. The graphical user interface of claim 1, further comprising:

a bid order entry region comprising a plurality of locations for sending buy trade orders, each location corresponding to a price level along the common static price axis; and

an ask order entry region comprising a plurality of locations for sending sell trade orders, each location corresponding to a price level along the common static price axis.

17. The graphical user interface of claim 16, further comprising:

a bid display region comprising a plurality of locations corresponding to the plurality of price levels, wherein the first combined quantity indicator is displayed in the bid display region; and

an ask display region comprising a plurality of locations corresponding to the plurality of price levels, wherein the second combined quantity indicator is displayed in the ask display region.

18. The graphical user interface of claim 17, wherein the bid display region overlaps the bid order region, and wherein the ask display region overlaps the ask order region.

19. The graphical user interface of claim 1, wherein, based on the allocation, at least one order for the first tradeable object, the second tradeable object, or both the first tradeable object and the second tradeable object is sent to the at least one electronic exchange.