INTERACTION WITH TRADING SYSTEMS
First Claim
Patent Images
1. A method comprising:
- receiving an indication of an order that is pending in an order book of a trading system, in which the order defines a side of a trade for a financial instrument;
transmitting a first query asking if a matching order to the order is stored in an order management system, in which the matching order defines an opposite side of the trade for the financial instrument;
transmitting a second query asking if an offer to enter into a trade that fulfills at least a portion of each of the order and the matching order is accepted;
receiving an indication of an acceptance of the offer; and
in response to receiving the indication of the acceptance, transmitting an indication that the trade should be executed to the trading system.
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Accused Products
Abstract
A trading platform and trading method that allows access to additional pools of liquidity is described. Other embodiments are also described
130 Citations
79 Claims
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1. A method comprising:
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receiving an indication of an order that is pending in an order book of a trading system, in which the order defines a side of a trade for a financial instrument; transmitting a first query asking if a matching order to the order is stored in an order management system, in which the matching order defines an opposite side of the trade for the financial instrument; transmitting a second query asking if an offer to enter into a trade that fulfills at least a portion of each of the order and the matching order is accepted; receiving an indication of an acceptance of the offer; and in response to receiving the indication of the acceptance, transmitting an indication that the trade should be executed to the trading system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A method comprising:
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receiving information about a plurality of orders, in which each order of the plurality of orders is pending on a respective trading system; for each order of the plurality of orders, determining that a respective matching order to the order is stored in a respective order management system and that a respective offer to enter into a respective trade that fulfills at least part of each of the order and the respective matching order is accepted; and for each order or the plurality of orders, in response to the determination, transmitting a respective indication that the respective trade should be executed to the respective trading system. - View Dependent Claims (32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49)
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50. A method comprising:
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receiving an indication of an order that is pending in an order book of a trading system, in which the order defines a side of a trade for a financial instrument; determining that a matching order to the order is stored in an order management system and that an offer to enter into a trade that fulfills at least a portion of each of the order and the matching order is accepted, in which the matching order defines an opposite side of the trade for the financial instrument; and transmitting an indication that the trade should be executed to the trading system. - View Dependent Claims (51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79)
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Specification