SYSTEM AND METHOD FOR DETERMINING CONFIDENCE LEVELS FOR A MARKET DEPTH IN A COMMODITIES MARKET
First Claim
1. A computer implemented method for determining confidence levels for market depth in a commodities market system, the method including computer instructions embedded in a computer storage medium and configured to perform the steps of:
- tracking one or more orders associated with at least one trader of a plurality of traders and generating historical trade information, the historical trade information including at least one of;
trade information for each order, trade information for an account, trade information for a trader, and statistics for each order;
computing a confidence value for the at least one trader of the plurality of traders based on the historical trade information;
computing a confidence rating for a particular market based at least in part on the computed confidence value for the at least one trader; and
broadcasting the confidence rating for the particular market to the plurality of traders in the commodities market system for providing improved market depth information,wherein each step is performed by a computer platform.
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Accused Products
Abstract
A system and method are provided for providing improved market depth information for traders in exchanges such as a commodity exchange, for example. By adding a confidence rating or quality data to the depth information, the invention provides more useful depth information that should make it much easier for traders to see what is really going on in a market, such as which orders really are working with an intention to be filled. The confidence rating or quality data also may reduce the influence of automated tools on the market place. The confidence ratings may be based on historic behavior patterns of traders or accounts so that a history may be maintained for each trader or account and used to create an aggregated confidence rating for projected bid and offer price levels on a known bid volume showing the likelihood that any order may be filled, or to what degree.
109 Citations
19 Claims
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1. A computer implemented method for determining confidence levels for market depth in a commodities market system, the method including computer instructions embedded in a computer storage medium and configured to perform the steps of:
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tracking one or more orders associated with at least one trader of a plurality of traders and generating historical trade information, the historical trade information including at least one of;
trade information for each order, trade information for an account, trade information for a trader, and statistics for each order;computing a confidence value for the at least one trader of the plurality of traders based on the historical trade information; computing a confidence rating for a particular market based at least in part on the computed confidence value for the at least one trader; and broadcasting the confidence rating for the particular market to the plurality of traders in the commodities market system for providing improved market depth information, wherein each step is performed by a computer platform. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computer implemented method for determining confidence levels for market depth in a commodities market system, the method comprising computer instructions embedded in a computer storage medium and configured to perform the steps of:
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receiving confidence information generated based on tracked one or more orders associated with at least one trader of a plurality of traders and based on generated historical trade information, the historical trade information including at least one of;
trade information for each order, trade information for an account, trade information for a trader, and statistics for each order; anddisplaying a confidence rating for a particular market based on the confidence information for proving improved market depth information to a trader, wherein the receiving and displaying are performed at a trader access device. - View Dependent Claims (9, 10, 11, 12)
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13. A computer program product embedded in a readable computer storage medium, the computer program product comprising computer instructions that when executed perform the following steps:
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tracking one or more orders associated with at least one trader of a plurality of traders and generating historical trade information including at least one of;
trade information for each order, trade information for an account, trade information for a trader, and statistics for each order;computing a confidence value for the at least one trader of the plurality of traders based on the historical trade information; computing a confidence rating for a particular market based at least in part on the computed confidence value for the at least one trader; and broadcasting the confidence rating for the particular market to the plurality of traders in an exchange system for providing improved market depth information. - View Dependent Claims (14, 15, 16, 17, 18, 19)
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Specification