METHOD AND SYSTEM FOR FACILITATING INTERNATIONAL SECURITIES TRADING
First Claim
1. A computer-implemented method for facilitating securities trading, comprising:
- at least one computer processor performing the following;
receiving market data from a local market center, the market data including a bid price and an offer price from an order at the local market center, the prices being specified using a local currency;
receiving at least one foreign exchange (FX) quote from at least one FX liquidity provider (LP), each FX quote having at least one of a buy rate and a sell rate for converting between the local currency and a foreign currency;
generating a synthetic order book by converting the bid prices into the foreign currency using a best available buy rate and converting the offer prices into the foreign currency using a best available sell rate; and
transmitting a synthetic quote to a foreign investor, the synthetic quote including price information for a best priced order of the synthetic order book.
4 Assignments
0 Petitions
Accused Products
Abstract
A method and a system for facilitating international securities trading include receiving market data specified in the local currency of a market center. The system includes a central platform that provides foreign executable currency quotes, which can be used to convert the market center'"'"'s central limit order book into multiple foreign currencies. Orders specified in a foreign currency are converted to the local currency and placed with the market center. When two orders are matched, the system handles execution of a foreign exchange (FX) portion of the order based on the best FX quote provided by an FX liquidity provider, locked in at the time of receipt of the order.
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Citations
26 Claims
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1. A computer-implemented method for facilitating securities trading, comprising:
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at least one computer processor performing the following; receiving market data from a local market center, the market data including a bid price and an offer price from an order at the local market center, the prices being specified using a local currency; receiving at least one foreign exchange (FX) quote from at least one FX liquidity provider (LP), each FX quote having at least one of a buy rate and a sell rate for converting between the local currency and a foreign currency; generating a synthetic order book by converting the bid prices into the foreign currency using a best available buy rate and converting the offer prices into the foreign currency using a best available sell rate; and transmitting a synthetic quote to a foreign investor, the synthetic quote including price information for a best priced order of the synthetic order book. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system for facilitating securities trading, comprising:
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a central computer configured to; receive market data from a local market center, the market data including a bid price and an offer price from an order at the local market center, the prices being specified using a local currency; receive at least one foreign exchange (FX) quote from at least one FX liquidity provider (LP), each FX quote having a buy rate and a sell rate for converting between the local currency and a foreign currency; generate a synthetic order book by converting the bid prices into the foreign currency using a best available buy rate and converting the offer prices into the foreign currency using a best available sell rate; and transmit a synthetic quote to a foreign investor, the synthetic quote including price information for a best priced order of the synthetic order book. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A hardware-implemented computer-readable storage medium having stored thereon a series of instructions executable by a processor of a security transaction-assisting machine, the instructions which, when executed, cause the processor to perform a method, the method comprising:
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receiving market data from a local market center, the market data including a bid price and an offer price from an order at the local market center, the prices being specified using a local currency; receiving at least one foreign exchange (FX) quote from at least one FX liquidity provider (LP), each FX quote having a buy rate and a sell rate for converting between the local currency and a foreign currency; generating a synthetic order book by converting the bid prices into the foreign currency using a best available buy rate and converting the offer prices into the foreign currency using a best available sell rate; and transmitting a synthetic quote to a foreign investor, the synthetic quote including price information for a best priced order of the synthetic order book. - View Dependent Claims (20)
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21. A computer-implemented method for facilitating securities trading, comprising:
one or more computer processors performing the following; obtaining market data including at least one price quote expressed according to a first currency; obtaining an exchange rate quote for converting a number of units of the first currency into a number of units of a second currency; based on the exchange rate quote, modifying the price quote for expression according to the second currency; and transmitting the modified price quote for output at an investor device. - View Dependent Claims (22)
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23. A computer-implemented method for facilitating securities trading, comprising:
one or more computer processor performing the following; receiving an exchange rate quote for converting a number of units of a first currency into a number of units of a second currency; while the received exchange rate quote is open, receiving an order specifying value units expressed according to one of the first and second currencies; and responsive to receipt of the order; locking in the exchange rate quote for the pendency of the order; converting the received order into a modified order specifying value units expressed according to the other of the first and second currencies; and transmitting the modified order for execution.
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24. A computer-implemented method for facilitating securities trading, comprising:
one or more computer processors performing the following; obtaining one or more market quotes regarding an asset, each specifying (a) a respective price expressed according to a first currency and (b) a respective number of shares; obtaining an order regarding the asset specifying a number of units of a second currency; obtaining an exchange rate quote for converting a number of units of the first currency into a number of units of the second currency; based on the one or more market quotes and the exchange rate quote, determining whether there are available a sufficient quantity of the asset for a position opposite to that of the order to execute the order at the specified number of second currency units; and executing the order responsive to a positive result of the determining step. - View Dependent Claims (25, 26)
Specification