METHODS AND SYSTEMS FOR MONITORING MARKET DATA TO IDENTIFY USER DEFINED MARKET CONDITIONS

• US 20150006354A1
• Filed: 08/18/2014
• Published: 01/01/2015
• Est. Priority Date: 06/01/2007
• Status: Active Grant

• Current Assignee: FTEN, Inc. (Nasdaq, Inc.)
• Original Assignee: FTEN, Inc. (Nasdaq, Inc.)
• Inventors: KITTELSEN, Douglas G.
• Granted Patent: US 10,296,974 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• 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

Methods and systems for monitoring market data are disclosed. Real time data is collected that is related to conditions of a trading market. Collection occurs at an edge server associated with a liquidity destination trading at least one financial article of trade. The real time data that is collected can also be normalized if desired into a standard form. A user defined criteria is received from a centralized hub. The user defined criteria defines a particular event in the condition. It is then determined when a condition in the trading market matches the event. A response is generated providing notification of the occurrence of the event. The response is sent to the centralized hub for distribution to a user associated with the user defined criteria.

Claims

1. A method for consolidating and analyzing market data from multiple liquidity destinations, comprising:

collecting data related to conditions of a trading market at a plurality of distributed edge servers, each of the plurality of distributed edge servers being located at associated with one of the multiple liquidity destinations trading at least one financial article of trade and collecting such data from its associated liquidity destination;

each of the plurality of distributed edge servers storing its collected data;

each of the plurality of distributed edge servers receiving from a data source user-defined information defining a particular event in the conditions;

each of the plurality of distributed edge servers determining if a condition in the trading market matches the defined event;

each of the plurality of distributed edge servers detecting a match;

each of the plurality of distributed edge servers generating a response signal providing notification of the occurrence of the defined event, and

each of the plurality of distributed edge servers sending the response signal for distribution to a user associated with the user-defined information.

2. The method of claim 1, wherein the collecting data comprises:

collecting Level 2 depth of book information as the data for symbols traded on the liquidity destination.

3. The method of claim 2, further comprising:

analyzing the Level 2 book information to determine Level 1 top of book information for symbols traded on the liquidity destination; and

sending the Level 1 top of book information to the centralized hub for distribution to interested users.

4. The method of claim 1, further comprising:

sending the response signal to a centralized hub in a one-to-one message ratio.

5. The method of claim 1, further comprising:

for a given time period, determining a net effect of trading activity on a symbol traded on the liquidity destination; and

sending a snapshot of the symbol including the net effect to a centralized hub for consolidation and updating,

wherein the snapshot is combined with a previous state of a book of the symbol at the hub to update the state.

6. The method of claim 5, wherein the sending a snapshot further comprises:

declining to send the snapshot if the net effect is zero.

7. The method of claim 1, further comprising comparing time stamps provided by the liquidity destination and as reported to determine if the market is falling behind.

8. The method of claim 1, wherein the collecting data further comprises collecting real time data.

9. A method for consolidating and analyzing market data of multiple liquidity destinations, the method comprising

a centralized hub receiving a request data message from a user for monitoring an event in the market conditions, where the request data message includes user-defined information that defines the event;

the centralized hub sending the user-defined information as defined in the request data message to pertinent ones of a plurality of distributed edge servers associated with one of the multiple liquidity destinations trading at least one financial article of trade the edge servers and collecting and storing data related to market conditions for the associated liquidity destination;

the centralized hub receiving from one or more of the pertinent distributed edge servers a response data message to the request indicating an occurrence of the event; and

the centralized hub transmitting the response data message to the user.

10. The method of claim 9, further comprising:

allowing the user to define the user-defined information in a request;

accepting the request;

updating the request; and

distributing the request to the distributed edge server.

11. The method of claim 9, wherein the centralized hub receiving a response data message comprises:

the centralized hub receiving a notification signal as the response data message, wherein the notification signal is defined by the user and previously sent to the pertinent distributed edge servers.

12. The method of claim 9, wherein the collecting data further comprises collecting real time data, the method further comprising:

the centralized hub receiving data that is normalized from each of the plurality of edge servers in an approximate one-to-one message ratio for distribution to interested users.

13. The method of claim 9, further comprising:

the centralized hub storing the request data message; and

the centralized hub querying the pertinent distributed edge servers for updates on the request data message.

14. The method of claim 9, further comprising:

the centralized hub receiving Level 1 book information from the plurality of edge servers for symbols traded on the plurality of liquidity destinations for distribution to interested users.

15. A distributed edge server associated with a corresponding one of a plurality of liquidity destinations, the distributed edge server comprising:

one or more computer processing units coupled to one or more memories and configured to;

collect data related to market conditions at the corresponding liquidity destination;

store the collected data;

receive from a data source user-defined information defining a particular event in the conditions;

determine if a condition in the trading market matches the defined event;

generate a response signal providing notification of the occurrence of the defined event if a matched is detected, and

send the response signal for distribution to a user associated with the user-defined information.

16. The distributed edge server of claim 15, wherein the one or more computer processing units is configured to:

determine a net effect of trading activity on a symbol traded on the liquidity destination for a given time period; and

send a snapshot of the symbol including a net effect to a centralized hub for consolidation and updating.

17. The distributed edge server of claim 16, wherein the one or more computer processing units is configured to decline to send the snapshot if the net effect is zero.

18. The distributed edge server of claim 15, wherein the one or more computer processing units is configured to compare time stamps provided by the liquidity destination and as reported to determine if the market is falling behind.

19. A centralized hub comprising:

a computer system configured to;

receive a request data message from a user for monitoring an event in the market conditions, where the request data message includes user-defined information that defines the event;

send the user-defined information as defined in the request data message to pertinent ones of a plurality of distributed edge servers associated with one of the multiple liquidity destinations trading at least one financial article of trade the edge servers and collecting and storing data related to market conditions for the associated liquidity destination;

receive from one or more of the pertinent distributed edge servers a response data message to the request indicating an occurrence of the event; and

transmit the response data message to the user.

20. The centralized hub of claim 19, wherein the computer system is configured to:

allow the user to define the user-defined information in a request;

accept the request;

update the request; and

distribute the request to the distributed edge server.

21. The centralized hub of claim 19, wherein the computer system is configured to receive a notification signal as the response data message, wherein the notification signal is defined by the user and previously sent to the pertinent distributed edge servers.

22. The centralized hub of claim 19, wherein the computer system is configured to receive data that is normalized from each of the plurality of edge servers in an approximate one-to-one message ratio for distribution to interested users.

23. The centralized hub of claim 19, wherein the computer system is configured to receive Level 1 book information from the plurality of edge servers for symbols traded on the plurality of liquidity destinations for distribution to interested users.

24. The centralized hub of claim 19, wherein the computer system is configured to receive a plurality of snapshots of a plurality of symbols traded on the plurality of liquidity destinations, wherein a snapshot comprises a net effect of trading activity on a corresponding symbol for a given time period, and configured to consolidate a books of the plurality of symbols traded on the plurality of liquidity destinations using the plurality of snapshots by updating the books, wherein the snapshot is combined with a previous state of a corresponding book of the corresponding symbol for updating a current state the corresponding book for distribution to interested users.