Method and Apparatus for Providing Order Queue Information

• US 20100145880A1
• Filed: 02/17/2010
• Published: 06/10/2010
• Est. Priority Date: 01/21/2003
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: West, Robert A., Burns, Michael J., Schluetter, Jens-Uwe, Andrews, Ryan N., Garrison, David W.
• Granted Patent: US 8,229,818 B2
• Time in Patent Office: Days
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• 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
• CPC Class Codes: G06Q 50/01 Social networking

Abstract

A system and method for providing market information are disclosed. In this application, updates are received for a tradeable object at a price level from at least one exchange. To the extent that the updates do not include enough details to compute the number of orders resting at a particular price level in a market, estimation may be used to provide order queue information. As a result, the number of orders which are pending in the market at various price levels may be determined using the techniques described herein. The interface disclosed herein may be used to display the number and/or quantity of the orders in the order queue.

Claims

1-20. -20. (canceled)

21. A system for providing market information for a tradeable object, the system including:

a computing device adapted to store a total quantity currently pending for a tradeable object for each of a plurality of prices where orders are pending at an exchange;

a client device adapted to display a plurality of order indicators, each order indicator representing an estimation of orders pending at the exchange for each of the plurality of prices, the estimation of orders is based on the stored total quantity;

wherein the computing device is further adapted to receive a plurality of market updates for the tradeable object where the plurality of market updates provide new total quantities associated with the plurality of prices;

wherein the computing device is further adapted to update the stored total quantities to reflect the new total quantities, and for each price that comprises an updated total quantity;

the computing device is further adapted to compare a new total quantity at a particular price with a stored total quantity at the particular price and the computing device is further adapted to estimate a new estimation of orders pending at the exchange for the particular price based at least in part on the comparison and the new total quantity at the particular price; and

the client device is further adapted to update an order indicator for the particular price to reflect the new estimation of orders pending at the exchange for the particular price.

22. The system of claim 21, wherein the computing device is further adapted to estimate the new estimation of orders pending at the exchange for the particular price based on an inside market price.

23. The system of claim 21, wherein the computing device is further adapted to estimate the new estimation of orders pending at the exchange for the particular price based on a last traded quantity value.

24. The system of claim 21, wherein the computing device is further adapted to estimate the new estimation of orders pending at the exchange for the particular price based on an entry of an order at the particular price.

25. The system of claim 21, wherein the order indicator for the particular price includes a number.

26. The system of claim 21, wherein the order indicator for the particular price includes a graphical representation of the one or more orders pending at the exchange, and wherein the graphical representation comprises a separate indicator for each order estimated to be pending at the exchange.

27. The system of claim 21, wherein the plurality of market updates includes aggregate market updates.

28. The system of claim 21, wherein the plurality of market updates includes snapshot market updates.

29. The system of claim 21, wherein the computing device is further adapted to determine a user'"'"'s own order queue position at the exchange based at least in part on the estimation of orders pending at the exchange.

30. The system of claim 29, wherein the client device is further adapted to display an indicator representing the determined user'"'"'s own order queue position at the exchange.

31. The system of claim 21, wherein the order indicator for the particular price comprises a cumulative order quantity at the particular price.

32. The system of claim 21, wherein the total quantity currently pending for the tradeable object at the particular price is zero.

33. The method of claim 21, wherein the computing device includes a gateway.

34. The method of claim 21, wherein the computing device includes the client device.