System and Method for Displaying Highest and Lowest Traded Prices of Tradable Objects

• US 20100235302A1
• Filed: 05/27/2010
• Published: 09/16/2010
• Est. Priority Date: 09/30/2002
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Singer, Scott, Kemp, Gary Allan II, Ebersole, Joan
• Granted Patent: US 8,027,910 B2
• Time in Patent Office: Days
• US Class Current: 705/36.R
• 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 client terminal displays on a graphical interface a first indicator of a price associated with a lowest traded price of a tradable object during a predetermined period of time, a second indicator of a price associated with a highest traded price of the tradable object during the predetermined period of time, along with at least one quantity indicator associated with at least one order to buy/order the tradable object. The first indicator, the second indicator, and the at least one quantity indicator are displayed in relation to a static axis of price, and the client terminal dynamically updates the first and second indicator to new lowest and highest traded prices based on market updates received from an exchange.

Claims

1. A method of displaying market information relating to a tradable object, the method comprising:

receiving a plurality of market updates from an electronic exchange via a computing device, where the plurality of market updates provide at least a current highest bid price, a current lowest ask price, and a current last traded price for the tradable object;

displaying a viewable portion of a market display region via a display associated with the computing device according to the plurality of market updates, the viewable portion of the market display region having a plurality of static price levels being axially aligned where a best bid indicator and a best ask indicator change position relative to the static prices levels;

establishing, via the computing device, a time period having at least a present time and a time earlier than the present time;

determining, via the computing device, a highest traded price during the time period according to the plurality of market updates;

recording, via the computing device, the highest traded price when the highest traded price is outside of the viewable portion of the market display region;

displaying, via the computing device, a first indicator at a first location along the static price levels when the highest traded price is in the viewable portion of the market display region, where the first indicator represents the highest traded price during the time period and the first location corresponds to the highest traded price, and where the first indicator moves relative to the static price levels to reflect changes in the highest traded price;

determining, via the computing device, a lowest traded price during the time period according to the plurality of market updates;

recording, via the computing device, the lowest traded price when the lowest traded price is outside of the viewable portion of the market display region; and

displaying, via the computing device, a second indicator at a second location along the static price levels when the lowest traded price is in the viewable portion of the market display region, where the second indicator represents the lowest traded price during the time period and the second location corresponds to the lowest traded price, and where the second indicator moves relative to the static price levels to reflect changes in the lowest traded price.

2. The method of claim 1, further comprising:

receiving a repositioning command via an input device associated with the computing device to re-center the best bid indicator and the best ask indicator relative to the viewable portion of the market display region; and

in response to the repositioning command, adjusting the static price levels via the computing device to reposition the best bid indicator and the best ask relative to the repositioned static price levels in a repositioned viewable portion of the market display region.

3. The method of claim 2, where the best bid indicator and the best ask indicator are substantially centered relative to the repositioned viewable portion of the market display region.

4. The method of claim 2, where the repositioned static price levels are substantially centered in the repositioned viewable portion of the market display region, and the best bid indicator and the best ask indicator are substantially centered relative to the repositioned viewable portion of the market display region.

5. The method of claim 1, further comprising:

receiving a scroll command to scroll the static price levels via an input device associated with the computing device; and

adjusting, via the computing device, the static price levels responsive to the scroll command.

6. The method of claim 1, further comprising:

displaying, via the computing device, an indicator at each price level along the static price levels in the viewable portion of the market display region between the highest traded price and the lowest traded price.

7. The method of claim 6, where the indicator at each price level is configured to identify that the highest traded price is above the indicator and the lowest traded price is below the indicator.

8. The method of claim 1, further comprising:

consolidating the plurality of price levels along the static price levels where each new price level along the static price levels corresponds to a group of price levels, and a quantity at each new price level corresponds to a total quantity available in the group of price levels;

displaying, responsive to consolidating, the first indicator at the new price level corresponding to the group of price levels that includes the highest traded price; and

displaying, responsive to consolidating, the second indicator at the new price level corresponding to the group of price levels that includes the lowest traded price.

9. A computer readable medium having instructions stored thereon, which when executed by a processor, cause the processor to perform acts comprising:

receiving a plurality of market updates from an electronic exchange, where the plurality of market updates provide at least a current highest bid price, a current lowest ask price, and a current last traded price for a tradable object;

displaying a viewable portion of a market display region according to the plurality of market updates, the viewable portion of the market display region having a plurality of static price levels being axially aligned where a best bid indicator and a best ask indicator change position relative to the static prices levels;

establishing a time period having at least a present time and a time earlier than the present time;

determining a highest traded price during the time period according to the plurality of market updates;

recording the highest traded price when the highest traded price is outside of the viewable portion of the market display region;

displaying a first indicator at a first location along the static price levels when the highest traded price is in the viewable portion of the market display region, where the first indicator represents the highest traded price during the time period and the first location corresponds to the highest traded price, and where the first indicator moves relative to the static price levels to reflect changes in the highest traded price;

determining a lowest traded price during the time period according to the plurality of market updates;

recording the lowest traded price when the lowest traded price is outside of the viewable portion of the market display region; and

displaying a second indicator at a second location along the static price levels when the lowest traded price is in the viewable portion of the market display region, where the second indicator represents the lowest traded price during the time period and the second location corresponds to the lowest traded price, and where the second indicator moves relative to the static price levels to reflect changes in the lowest traded price.

10. The computer readable medium of claim 9, where the acts further comprise:

receiving a repositioning command to re-center the best bid indicator and the best ask indicator relative to the viewable portion of the market display region; and

in response to the repositioning command, adjusting the static price levels to repositioned static price levels in the repositioned viewable portion of the market display region to reposition the best bid indicator and the best ask.

11. The method of claim 10, where the best bid indicator and the best ask indicator are substantially centered relative to the repositioned viewable portion of the market display region.

12. The method of claim 10, where the repositioned static price levels are substantially centered in the repositioned viewable portion of the market display region, and the best bid indicator and the best ask indicator are substantially centered relative to the repositioned viewable portion of the market display region.

13. The computer readable medium of claim 9, where the acts further comprise:

receiving a scroll command to scroll the static price levels; and

in response to the scroll command, adjusting the static price levels.

14. The computer readable medium of claim 9, where the acts further comprise:

displaying an indicator at each price level along the static price levels in the viewable portion of the market display region between the highest traded price and the lowest traded price.

15. The computer readable medium of claim 14, where the indicator at each price level is configured to identify that that the highest traded price is above the indicator and the lowest traded price is below the indicator.

16. The computer readable medium of claim 9, where the acts further comprise:

consolidating the plurality of price levels along the static price levels where each new price level along the static price levels corresponds to a group of price levels, and a quantity at each new price level corresponds to a total quantity available in the group of price levels;

displaying, responsive to consolidating, the first indicator at the new price level corresponding to the group of price levels that includes the highest traded price; and

displaying, responsive to consolidating, the second indicator at the new price level corresponding to the group of price levels that includes the lowest traded price.

17. A trading system comprising:

a market information receiver configured to receive a plurality of market updates from an electronic exchange, where the plurality of market updates provide at least a current highest bid price, a current lowest ask price, and a current last traded price for a tradable object;

a processor coupled with the market information receiver and configured to receive a time period having at least a present time and a time earlier than the present time, to record a highest traded price during the time period according to the plurality of market updates, and to record a lowest traded price during the time period according to the plurality of market updates; and

a display responsive to the processor and configured to display;

a viewable portion of a market display region according to the plurality of market updates, the viewable portion of the market display region having a plurality of static price levels being axially aligned where a best bid indicator and a best ask indicator change position relative to the static prices levels to reflect changes in the current highest bid price and the current lowest ask price for the tradable object,

a first indicator at a first location along a static price levels when the highest traded price is in the viewable portion of the market display region, the first indicator representing the highest traded price during the time period and the first location corresponding to the highest traded price, and where the first indicator moves relative to the static price levels to reflect changes in the highest traded price, and

a second indicator at a second location along the static price levels when the lowest traded price is in the viewable portion of the market display region, the second indicator representing the lowest traded price during the time period and the second location corresponding to the lowest traded price, and where the second indicator moves relative to the static price levels to reflect changes in the lowest traded price.

18. The trading system of claim 17, further comprising:

an input device adapted to receive a repositioning command to reposition the best bid indicator and the best ask relative to the repositioned static price levels in a repositioned viewable portion of the market display region.

19. The trading system of claim 18, where the best bid indicator and the best ask indicator are substantially centered relative to the repositioned viewable portion of the market display region.

20. The trading system of claim 18, where the repositioned static price levels are substantially centered in the repositioned viewable portion of the market display region, and the best bid indicator and the best ask indicator are substantially centered relative to the repositioned viewable portion of the market display region.