User Interface for Semi-Fungible Trading

• US 20100070402A1
• Filed: 10/15/2009
• Published: 03/18/2010
• Est. Priority Date: 04/09/1999
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Klizas, Mark C., Friesen, Richard W.
• Granted Patent: US 8,688,564 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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

A user interface and method are disclosed for providing trading between a plurality of semi-fungible and non-fungible goods. A plurality of book axes are displayed in a single interface, each book axis representing a market for a particular good. Orders for goods are displayed as marks on the axes to display the relative value of the orders. A value axis is provided that relates the value of the goods from each market to each other. Thus, a single interface provides the means to relate the values of different semi-fungible goods. The value axis may be displayed in units of price, or a custom value designated by a user or pre-defined by the interface. Quantity information is represented in the interface through the display of a dimension of an order icon. Precise information about each order is displayed either in a panel view or a pop-up window.

Claims

1. A method for electronically interfacing with an electronic exchange for spread trading, comprising:

displaying an axis for at least a portion of a differential value scale having a plurality of differential values between a plurality of products via an output device of a computing device, where the differential value scale is generated according to information received via the computing device from a data feed identifying a market having bids and offers for each of the plurality of products, and where each of the plurality of differential values represents a difference between values of the plurality of products;

displaying at least one bid indicator along the differential value scale, the at least one bid indicator generated via the computing device according to the information received via the computing device; and

displaying at least one offer indicator along the differential value scale, the at least one offer indicator generated via the computing device according to the information received via the computing device.

2. The method of claim 1 where the bid indicator represents a differential between bids and offers for the plurality of products.

3. The method of claim 1 where the offer indicator represents a differential between bids and offers for the plurality of products.

4. The method of claim 1 further comprising:

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting one of the plurality of differential values;

in response to the user-initiated command, generating a first order for a first product of the plurality of products via the computing device, the first order having a first price determined according to the selected one of the plurality of differential values; and

submitting the first order to the market for the first product via the computing device.

5. The method of claim 4 further comprising submitting at least a second order to a market for a second product of the plurality of products via the computing device, the second order having a second price determined according to the selected plurality of differential values.

6. The method of claim 4 where the first price is further determined according to the market for the second product.

7. The method of claim 4 further comprising submitting at least a third order to a market for a third product of the plurality of products via the computing device in response to execution of the first order, the third order having a third price determined according to the selected plurality of differential values and cancelling the second order.

8. The method of claim 5 where the second price comprises a price of an inside market for the first product.

9. The method of claim 1 where the plurality of products comprises a user-selected base product.

10. A computer readable medium having instructions stored thereon which when executed by a processor cause the processor to carry out the acts comprising:

displaying an axis for at least a portion of a differential value scale having a plurality of differential values between a plurality of products via an output device of a computing device, where the differential value scale is generated according to information received via the computing device from a data feed identifying a market having bids and offers for each of the plurality of products, and where each of the plurality of differential values represents a difference between values of the plurality of products;

displaying at least one bid indicator along the differential value scale, the at least one bid indicator generated via the computing device according to the information received via the computing device; and

displaying at least one offer indicator along the differential value scale, the at least one offer indicator generated via the computing device according to the information received via the computing device.

11. The computer readable medium of claim 10 where the bid indicator represents a differential between bids and offers for the plurality of products

12. The computer readable medium of claim 10 where the offer indicator represents a differential between bids and offers for the plurality of products.

13. The computer readable medium of claim 10 where the acts further comprise:

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting one of the plurality of differential values;

in response to the user-initiated command, generating a first order for a first product of the plurality of products via the computing device, the first order having a first price determined according to the selected one of the plurality of differential values and the market for the second product; and

submitting the first order to the market for the first product via the computing device.

14. The computer readable medium of claim 13 where the acts further comprise submitting at least a second order to a market for a second product of the plurality of products via the computing device in response to execution of the first order, the second order having a second price determined according to the selected plurality of differential values.

15. The computer readable medium of claim 14 where the acts further comprise submitting at least a third order to a market for a third product of the plurality of products via the computing device in response to execution of the first order, the third order having a third price determined according to the selected plurality of differential values and cancelling the second order.

16. The computer readable medium of claim 10 where the plurality of products comprises a user-selected base product.

17. A trading device for electronically a spread between products, comprising:

a processor configured to determine plurality of differential values between a plurality of products according to information from a data feed identifying a market having bids and offers for each of the plurality of products, where each of the plurality of differential values represents a difference between values of the plurality of products;

a display configured to display at least a portion of a differential value scale having the plurality of differential values including at least one bid indicator and at least one offer indicator along the differential value scale, the at least one bid indicator and at least one offer indicator generated via the computing device according to the information received via the computing device; and

an order router, configured to route an order for at least one of the plurality of products having a price determined in response to a user-initiated command selecting one of the plurality of differential values, the first order having a price based on the selected one of the plurality of differential values.

18. The trading device of claim 17 where the at least one bid indicator comprises a differential between bids and offers between a plurality of products.

19. The trading device of claim 17 where the at least one offer indicator comprises a differential between bids and offers between a plurality of products.

20. The trading device of claim 17 where the order router is configured to route an order for each of the plurality of products having a price determined in response to a user-initiated command selecting one of the plurality of differential values, the first order having a price based on the selected one of the plurality of differential values.