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System and Method for Linking and Managing Linked Orders in an Electronic Trading Environment

  • US 20110047067A1
  • Filed: 11/02/2010
  • Published: 02/24/2011
  • Est. Priority Date: 01/31/2003
  • Status: Active Grant
First Claim
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1. A method for managing pending orders, the method comprising:

  • submitting a first order for a first quantity of a first tradeable object at a first price and a second order for a second quantity of a second tradeable object at a second price from a computing device in response to receiving a user command via a user input associated with the computing device, where the second price is determined according to the first price and a predetermined relationship between the first tradeable object and the second tradeable object, and where the first order is submitted to a first electronic exchange and the second order is submitted to a second electronic exchange;

    receiving, via an input device associated with the computing device, an electronic market data transmission from the first electronic exchange for a first updated order parameter for the first order, the electronic market data transmission being received at a first time when both the first order is executable at the first electronic exchange and the second order is executable at the second electronic exchange; and

    submitting, via the computing device, an update message to the second electronic exchange to update the second order with a second updated order parameter determined according to the predetermined relationship and the first updated order parameter.

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