Trading Tools for Electronic Trading

• US 20100138335A1
• Filed: 02/03/2010
• Published: 06/03/2010
• Est. Priority Date: 03/02/2000
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Kemp, Gary Allen II, Schluetter, Jens-Uwe, Singer, Scott, Brumfield, Harris, Burns, Michael
• Granted Patent: US 9,811,859 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 30/08 Auctions
• 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

Tools for trading and monitoring a commodity on an electronic exchange using a graphical user interface and a user input device. The tools will aid the trader in determining the status, trends in the market, and the trader'"'"'s position in the market.

Claims

1-45. -45. (canceled)

46. A method of managing orders, the method including:

displaying by a computing device an entered order indicator representing a plurality of entered orders for a commodity, wherein the plurality of entered orders are for the commodity at a first price level, wherein the entered order indicator is displayed in a first location corresponding to the first price level;

receiving by the computing device a command that moves the entered order indicator to a second location corresponding to a second price level;

sending by the computing device a remove command to remove the plurality of entered orders for the commodity at the first price level in response to receiving the command that moves the entered order indicator; and

sending by the computing device an enter command to enter at least one new order for the commodity at the second price level in response to receiving the command that moves the entered order indicator.

47. The method of claim 46, wherein the first location is aligned with an axis.

48. The method of claim 47, wherein the second location is aligned with the axis.

49. The method of claim 47, wherein the axis is a static axis.

50. The method of claim 47, wherein the axis is a value axis.

51. The method of claim 50, wherein the axis is a price axis.

52. The method of claim 51, wherein the axis is a consolidated price axis, wherein the consolidated price axis includes a plurality of consolidated price levels, wherein the second price level is one of the plurality of consolidated price levels, wherein each consolidated price level is associated with a plurality of price levels for the commodity.

53. The method of claim 52, wherein the enter command divides a working quantity for the at least one new order between the plurality of price levels for the commodity associated with the consolidated price level corresponding to the second location.

54. The method of claim 47, further including displaying by the computing device an order entry region including a plurality of order entry locations, wherein each order entry location corresponds to a price level along the axis, wherein each order entry location is selectable by a user input device so as to receive a command to send an order message to enter an order for the commodity at a price level corresponding to the selected order entry location.

55. The method of claim 54, wherein the command to send an order message is received from a single action of the user input device.

56. The method of claim 46, further including displaying by the computing device a current status for the plurality of entered orders for the commodity, wherein the current status includes a total quantity of the plurality of entered orders for the commodity currently working at the first price level, wherein the total quantity is updated dynamically based on market information received for the commodity.

57. The method of claim 56, wherein the current status is displayed as part of the entered order indicator.

58. The method of claim 56, wherein the current status includes a filled quantity of the plurality of entered orders for the commodity that have been bought or sold since at least one of the entered orders was entered, wherein the filled quantity is updated dynamically based on market information received for the commodity.

59. The method of claim 46, wherein the command that moves the entered order indicator is received as a result of a drag and drop action by a user.

60. The method of claim 46, wherein the command that moves the entered order indicator includes a mouse click down on the entered order indicator, moving the entered order indicator to the second location while the mouse is clicked down, and a mouse click up to release the entered order indicator at the second location.

61. The method of claim 46, wherein the command that moves the entered order indicator includes a mouse click down on the entered order indicator and moving the entered order indicator to the second location while the mouse is clicked down.

62. The method of claim 46, further including:

receiving by the computing device market data indicating that quantity for an order of the plurality of entered orders has been at least partially filled while the command that moves the entered order indicator is being received; and

preventing by the computing device the remove command from removing the order of the plurality of entered orders that has been at least partially filled.

63. The method of claim 46, further including:

receiving by the computing device market data indicating that quantity for an order of the plurality of entered orders has been at least partially filled while the command that moves the entered order indicator is being received; and

modifying by the computing device an order quantity for the at least one new order based on the received market data.

64. The method of claim 46, wherein the remove command and the enter command are sent as separate commands.

65. The method of claim 46, wherein the remove command and the enter command are sent as a single command.

66. The method of claim 65, wherein the single command is a cancel and replace command.

67. The method of claim 46, wherein the at least one new order for the commodity is a single new order for the commodity.

68. The method of claim 46, wherein the at least one new order for the commodity includes a new order corresponding to each of the plurality of entered orders.