METHOD FOR SCHEDULING FUTURE ORDERS ON AN ELECTRONIC COMMODITY TRADING SYSTEM

• US 20100145844A1
• Filed: 12/02/2009
• Published: 06/10/2010
• Est. Priority Date: 01/17/2007
• Status: Active Grant

• Current Assignee: Andrew W. Busby, Nate Ostrye, Pete Steidlmayer
• Original Assignee: Andrew W. Busby, Nate Ostrye, Pete Steidlmayer
• Inventors: Ostrye, Nate, Steidlmayer, Pete, Busby, Andrew W.
• Granted Patent: US 8,577,781 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

Abstract

A method is provided for placing a trade order for a commodity on an electronic exchange to be executed at a future time, said method comprising the steps of displaying a trading screen for a commodity market, said trading screen including a future time schedule and an order entry region corresponding to each future time segment of the future time schedule, and scheduling an order corresponding to a future time segment by locating a pointer of a user device within an order entry region corresponding to the future time segment and sending an input signal via the pointer.

Claims

1. A method for placing a trade order for a commodity on an electronic exchange to be executed at a future time, said method comprising the steps of:

displaying a trading screen for a commodity market, said trading screen including a future time schedule and an order entry region corresponding to each future time segment of the future time schedule, the order entry region horizontally aligned with each future time segments, the future time schedule segments automatically scrolling as time passes; and

scheduling an order corresponding to a future time segment by locating a pointer of a user device within an order entry region corresponding to the future time segment and sending an input signal via the pointer; and

automatically initiating execution of the order with a commodity exchange based on a current time matching a time of the scheduled order associated with the future time segment, and updating the order entry region associated with the future time segment.

2. The method of claim 1, wherein the order is a buy order and the order entry region is a buy order entry region.

3. The method of claim 1, wherein the order is a sell order and the order entry region is a sell order entry region.

4. The method of claim 1, wherein the order is a buy order, and further comprising the step of:

scheduling a buy order corresponding to a future time segment by locating the pointer of a user device within a buy order entry region corresponding to the future time segment and sending an input signal via the pointer.

5. The method of claim 1, wherein the order is a sell order, and further comprising the step of:

scheduling a sell order corresponding to a future time segment by locating the pointer of a user device within a sell order entry region corresponding to the future time segment and sending an input signal via the pointer.

6. The method of claim 1, wherein future time segments of the trading screen are chronologically incremented in equal time segments.

7. The method of claim 1, wherein the trading screen includes a grid of columns and rows, wherein at least some of the rows correspond to future time segments, and a column is designated as a buy column and another column is designated as a sell column.

8. The method of claim 7, wherein said grid comprises cells corresponding to buy order entry regions and cells corresponding to sell order entry regions.

9. The method of claim 1, wherein the user device comprises a mouse associated with a computer.

10. The method of claim 9, wherein the input signal is initiated by pressing an input button on the mouse.

11. The method of claim 9, wherein the pointer of a user device is a display arrow associated with the mouse.

16. The method of claim 1, wherein the step of scheduling an order includes scheduling a trade order for a commodity.

12. A computer readable medium having program code recorded thereon for execution on a computer for placing a trade order for a commodity on an electronic exchange to be executed at a future time, said program code causing a machine to execute, the method comprising the steps of:

displaying a trading screen for a commodity market, said trading screen including a future time schedule and an order entry region corresponding to each future time segment of the future time schedule, the order entry region horizontally aligned with each future time segments, the future time schedule segments automatically scrolling as time passes;

scheduling an order corresponding to a future time segment by locating a pointer of a user device within an order entry region corresponding to the future time segment and sending an input signal via the pointer; and

automatically initiating execution of the order with a commodity exchange based on a current time matching a time of the scheduled order associated with the future time segment, and updating the order entry region associated with the future time segment.

13. An apparatus for placing a trade order for a commodity on an electronic exchange to be executed at a scheduled time, comprising:

means for associating a future time schedule having a plurality of future time segments and an order entry region having a plurality of entries, each entry corresponding to one of the plurality of future time segments of the future time schedule, the order entry region horizontally aligned with the plurality of future time segments; and

means for executing with an electronic exchange an order corresponding to one of the future time segments at the scheduled time, the order entry region being updated corresponding to the scheduled time.

14. The apparatus of claim 13, further comprising means for scheduling an order at one of the future time segments.

15. The apparatus of claim 13, wherein the order is a trade order for a commodity.