Click Based Trading with Intuitive Grid Display of Market Depth

• US 20110153486A1
• Filed: 03/02/2011
• Published: 06/23/2011
• Est. Priority Date: 03/02/2000
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Schluetter, Jens-Uwe, Brumfield, Harris, Kemp, Gary Allan II
• Granted Patent: US 8,666,858 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• 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 method and system for reducing the time it takes for a trader to place a trade when electronically trading on an exchange, thus increasing the likelihood that the trader will have orders filled at desirable prices and quantities. The “Mercury” display and trading method of the present invention ensure fast and accurate execution of trades by displaying market depth on a vertical or horizontal plane, which fluctuates logically up or down, left or right across the plane as the market prices fluctuates. This allows the trader to trade quickly and efficiently.

Claims

1. A method for repositioning market data related to a commodity on a graphical user interface, the method comprising:

determining an inside market with a highest bid price and a lowest ask price for a commodity based on market information received from an electronic exchange;

dynamically displaying a first indicator in one of a plurality of locations in a window, each location of the plurality of locations corresponding to a price level along a price axis, the first indicator corresponding to the highest bid price, wherein the first indicator is moved to a different location of the first plurality of locations relative to the price axis in response to determining a new highest bid price for the commodity based on new market information from the electronic exchange;

dynamically displaying a second indicator in one of the plurality of locations in the window, the second indicator corresponding to the lowest ask price, wherein the second indicator is moved to a different location of the plurality of locations relative to the price axis in response to determining a new lowest ask price for the commodity based on new market information from the electronic exchange;

establishing a price based on the market information as a basis for repositioning;

receiving a manual repositioning command from a user input device; and

responsively,

repositioning the price axis such that the price and the first and second indicators are moved toward a center of the window.

2. The method of claim 1, further comprising:

displaying the price and the first and second indicators substantially at the center of the window upon completion of the repositioning.

3. The method of claim 1, further comprising:

displaying the first indicator in a bid display region comprising a first plurality of locations, each location of the first plurality of locations corresponding to a price level along the price axis; and

displaying the second indicator in an ask display region comprising a second plurality of locations, each location of the second plurality of locations corresponding to a price level along the price axis.

4. The method of claim 1, wherein the first indicator represents a quantity associated with at least one order to buy the commodity at the highest bid price, and wherein the second indicator represents a quantity associated with at least one order to sell the commodity at the lowest ask price.

5. The method of claim 1, wherein the plurality of locations are displayed in a grid.

6. The method of claim 1, wherein the manual repositioning command comprises a single action of the user input device.

7. The method of claim 1, wherein the single action consists of a single click of the user input device.

8. The method of claim 1, further comprising:

displaying an order entry region comprising a plurality of locations for receiving commands to send trade orders, each location in the order entry region corresponding to a price level along the price axis; and

selecting a plurality of trade order parameters for a trade order and sending the trade order to the electronic exchange in response to receiving commands based on user actions consisting of;

(1) placing a cursor associated with the user input device over a particular location of the order entry region and (2) selecting the particular location through a single action of the user input device.

9. The method of claim 8, wherein the single action of the user input device consists of a single click of the user input device.

10. The method of claim 8, wherein selecting the plurality of trade order parameters comprises selecting a price corresponding to the particular location.

11. The method of claim 8, wherein selecting the plurality of trade order parameters comprises selecting whether the trade order is a buy or a sell.

12. The method of claim 8, wherein the order entry region comprises:

a bid order entry region comprising a plurality of locations for receiving commands to send buy trade orders, each location in the bid order entry region corresponding to a price level along the price axis; and

an ask order entry region comprising a plurality of locations for receiving commands to send sell trade orders, each location in the ask order entry region corresponding to a price level along the price axis.

13. The method of claim 1, further comprising:

displaying a working order indicator in one of the plurality of locations in the window, wherein the working order indicator represents a trade order to buy or sell the commodity pending at the electronic exchange at a price corresponding to the one of the plurality of locations associated with the working order indicator.

14. The method of claim 13, further comprising:

receiving a command to delete the trade order pending at the electronic exchange responsive to selecting the working order indicator through a single action of the user input device with a pointer of the user input device positioned over the working order indicator.

15. The method of claim 14, wherein the single action that selects the working order indicator consists of a single click of the user input device.

16. The method of claim 1, further comprising:

displaying price levels along the price axis.

17. A computer readable medium having stored therein instructions executable by a processor, wherein the instructions are executable to:

determine an inside market with a highest bid price and a lowest ask price for a commodity based on market information received from an electronic exchange;

dynamically display a first indicator in one of a plurality of locations in a window, each location of the plurality of locations corresponding to a price level along a price axis, the first indicator corresponding to the highest bid price, wherein the first indicator is moved to a different location of the first plurality of locations relative to the price axis in response to determining a new highest bid price for the commodity based on new market information from the electronic exchange;

dynamically display a second indicator in one of the plurality of locations in the window, the second indicator corresponding to the lowest ask price, wherein the second indicator is moved to a different location of the plurality of locations relative to the price axis in response to determining a new lowest ask price for the commodity based on new market information from the electronic exchange;

establish a price based on the market information as a basis for repositioning;

receive a manual repositioning command from a user input device; and

responsively,

reposition the price axis such that the price and the first and second indicators are moved toward a center of the window.

18. The computer readable medium of claim 17, wherein the instructions are further executable to:

display the price and the first and second indicators substantially at the center of the window upon completion of the repositioning.

19. The computer readable medium of claim 17, wherein the instructions are further executable to:

display the first indicator in a bid display region comprising a first plurality of locations, each location of the first plurality of locations corresponding to a price level along the price axis; and

display the second indicator in an ask display region comprising a second plurality of locations, each location of the second plurality of locations corresponding to a price level along the price axis.

20. The computer readable medium of claim 17, wherein the first indicator represents a quantity associated with at least one order to buy the commodity at the highest bid price, and wherein the second indicator represents a quantity associated with at least one order to sell the commodity at the lowest ask price.

21. The computer readable medium of claim 17, wherein the plurality of locations are displayed in a grid.

22. The computer readable medium of claim 17, wherein the manual repositioning command comprises a single action of the user input device.

23. The computer readable medium of claim 22, wherein the single action consists of a single click of the user input device.

24. The computer readable medium of claim 17, wherein the instructions are further executable to:

display an order entry region comprising a plurality of locations for receiving commands to send trade orders, each location in the order entry region corresponding to a price level along the price axis; and

select a plurality of trade order parameters for a trade order and send the trade order to the electronic exchange in response to receiving commands based on user actions consisting of;

(1) placing a cursor associated with the user input device over a particular location of the order entry region and (2) selecting the particular location through a single action of the user input device.

25. The computer readable medium of claim 24, wherein the single action of the user input device consists of a single click of the user input device.

26. The computer readable medium of claim 25, wherein selecting the plurality of trade order parameters comprises selecting a price corresponding to the particular location.

27. The computer readable medium of claim 24, wherein selecting the plurality of trade order parameters comprises selecting whether the trade order is a buy or a sell.

28. The computer readable medium of claim 24, wherein the order entry region comprises:

a bid order entry region comprising a plurality of locations for receiving commands to send buy trade orders, each location in the bid order entry region corresponding to a price level along the price axis; and

an ask order entry region comprising a plurality of locations for receiving commands to send sell trade orders, each location in the ask order entry region corresponding to a price level along the price axis.

29. The computer readable medium of claim 17, wherein the instructions are further executable to:

display a working order indicator in one of the plurality of locations in the window, wherein the working order indicator represents a trade order to buy or sell the commodity pending at the electronic exchange at a price corresponding to the one of the plurality of locations associated with the working order indicator.

30. The computer readable medium of claim 29, wherein the instructions are further executable to:

receive a command to delete the trade order pending at the electronic exchange responsive to selecting the working order indicator through a single action of the user input device with a pointer of the user input device positioned over the working order indicator.

31. The computer readable medium of claim 30, wherein the single action that selects the working order indicator consists of a single click of the user input device.

32. The computer readable medium of claim 17, wherein the instructions are further executable to:

display price levels along the price axis.