Electronic security/stock trading system with voice synthesis response for indication of transaction status

• US 5,926,801 A
• Filed: 04/03/1996
• Issued: 07/20/1999
• Est. Priority Date: 04/16/1993
• Status: Expired due to Fees

• Current Assignee: Fujitsu Limited
• Original Assignee: Fujitsu Limited
• Inventors: Abe, Shuichiro, Matsubara, Hitoshi, Yamamoto, Yasuhide
• Primary Examiner(s): Weinhardt, Robert A.
• Application Number:
  US08/626,980
• Time in Patent Office: 1,203 Days
• Field of Search: 705/35, 705/37, 705/1, 705/26
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An electronic dealing system which electronically performs matching processing between the information on transaction orders placed by order side customers and information on transaction orders placed by hit side customers so as to establish transactions, which system sets a margin relative to a last trade price, calculates a decision price from the last trade price and the set margin when the last trade price has been determined, detects if a situation has occurred which is disadvantageous to the customer under current market conditions with respect to the price of the offered order by judging the relative size of the price of the order placed by the order side customer and the calculated decision price, and outputs an alarm when it detects the occurrence of a disadvantageous situation, whereby the load on the customer is lightened and the customer can trade with more certainty.

Claims

1. An electronic dealing system which electronically performs matching processing between the information on transaction orders placed by order side customers and information on transaction orders placed by hit side customers so as to establish transactions, comprising:

setting means for setting a margin relative to a last trade price corresponding to a transaction order;

calculating means, connected to said setting means, for calculating a decision price for the transaction from the last trade price and the margin set by said setting means when the last trade price corresponding thereto has been determined and outputting the calculated decision price;

detecting means, connected to said calculating means, for detecting if a situation has occurred, with respect to an order placed by an order side customer, which is disadvantageous to the customer under current market conditions with respect to the price of the placed order by judging the relative amount of the price of the placed order, as placed by the order side customer, and the calculated decision price output by said calculating means, the situation comprising one of a first situation, which is disadvantageous as to a bid order price of the order placed by the order side customer, and a second situation, which is disadvantageous as to an offer order price of a bid order placed by the order side customer, further detecting if a best rate has changed and outputs a corresponding best rate change detection output, and furthermore detecting if an order, which has been placed, is hit and outputs a corresponding hit detection output; and

alarm means, interior of said system, for selectively outputting different audio alarms when the detecting means detects, respectively, the occurrence of the first and second disadvantageous situations enabling the customer to discriminate between the first and second situations, further being responsive to the best rate change detection output for producing a corresponding audio alarm output, and furthermore being responsive to the hit detection output, produced by the detecting means when detecting a hit, for outputting a corresponding alarm output.

2. An electronic dealing system as set forth in claim 1, wherein said alarm comprises synthesized speech.

3. An electronic dealing system as set forth in claim 1, wherein said alarm comprises synthesized speech.

4. An electronic dealing system as set forth in claim 1, wherein said alarm means is responsive only to a first detection output of said detecting means of a first occurrence of the disadvantageous situation.

5. An electronic dealing system as set forth in claim 1, wherein said alarm means is responsive only to the first detection output corresponding to the first occurrence of the first situation and to the further, first detection output corresponding to the first occurrence of the second situation for producing the respective audio alarms.

6. An electronic dealing system which electronically performs matching processing between the information on transaction orders placed by order side customers and information on transaction orders placed by hit side customers so as to establish transactions, comprising:

setting means for setting a margin relative to a last trade price corresponding to a transaction order;

calculating means, connected to said setting means, for calculating a decision price for the transaction from the last trade price corresponding thereto and the margin set by said setting means when the last trade price has been determined and outputting the calculated decision price;

detecting means, connected to said calculating means, for detecting if a situation has occurred, with respect to an order placed by an order side customer, which is advantageous to the customer under current market conditions with respect to the price of the offered order by judging the relative amount of the price of the offered order, as placed by the order side customer, and the calculated decision price output by said calculating means, and the situation comprising one of a first situation, which is advantageous as to a bid order price of the order placed by the order side customer and of a second situation, which is advantageous as to an offer order price of a bid order placed by the order side customer, further detecting if a best rate has changed and outputs a corresponding best rate change detection output, and furthermore detecting if an order, which has been placed, is hit and outputs a corresponding hit detection output; and

alarm means, interior of said system, for selectively outputting different audio alarms when the detecting means detects, respectively, the occurrence of the first and second advantageous situations enabling the customer to discriminate between the first and second situations, further being responsive to the best rate change detection output for producing a corresponding audio alarm output, and furthermore being responsive to the hit detection output, produced by the detecting means when detecting a hit, for outputting a corresponding alarm output.

7. An electronic dealing system as set forth in claim 6, wherein said alarm comprises synthesized speech.

8. An electronic dealing system as set forth in claim 6, wherein said alarm comprises synthesized speech.

9. An electronic dealing system as set forth in claim 6, wherein said alarm means is responsive only to a first detection output of said detecting means of a first occurrence of the advantageous situation.

10. An electronic dealing system as set forth in claim 6, wherein said alarm means is responsive only to the first detection output, corresponding to the first occurrence of the first situation and to the further, first detection output corresponding to the first occurrence of the second situation for producing the respective audio alarm.

11. An electronic dealing system which electronically performs matching processing between information on transaction orders placed by order side customers and information on transaction orders placed by hit side customers so as to establish transactions therebetween, comprising:

trade price monitoring and determining means for monitoring trade prices and for determining a last trade price relative to a specific transaction;

setting means for setting a margin relative to the last trade price;

calculating means, connected to said setting means and said trade price monitoring and determining means, for calculating a decision price for the specific transaction from the last trade price relative thereto and the margin set by said setting means when the last trade price has been determined by said trade price monitoring and determining means and outputting the calculated decision price;

detecting means, connected to said calculating means, for detecting if a situation has occurred, with respect to an order placed by an order side customer which is disadvantageous to the customer under current market conditions with respect to the price of the placed order by judging the relative amount of the price of the placed order, as placed by the order side customer, and the calculated decision price output by said calculating means, and the situation comprising one of a first situation, which is disadvantageous as to a bid order price of the order placed by the order side customer and a second situation, which is disadvantageous as to an offer order price of a bid order placed by the order side customer, further detecting if a best rate has changed and outputs a corresponding best rate change detection output, and furthermore detecting if an order, which has been placed, is hit and outputs a corresponding hit detection output; and

alarm means, interior of said system, for selectively outputting different audio alarms when the detecting means detects, respectively, the occurrence of the first and second disadvantageous situations enabling the customer to discriminate between the first and second situations, further being responsive to the best rate change detection output for producing a corresponding audio alarm output, and furthermore being responsive to the hit detection output, produced by the detecting means when detecting a hit, for outputting a corresponding alarm output.

12. An electronic dealing system which electronically performs matching processing between information on transaction orders placed by order side customers and information on transaction orders placed by hit side customers so as to establish transactions therebetween, comprising:

trade price monitoring and determining means for monitoring trade prices and for determining a last trade price relative to a specific transaction;

setting means for setting a margin relative to the last trade price;

calculating means, connected to said setting means and said trade price monitoring and determining means, for calculating a decision price for the specific transaction from the last trade price relative thereto and the margin set by said setting means when the last trade price has been determined by said trade price monitoring and determining means and outputting the calculated decision price;

detecting means, connected to said calculating means, for detecting if a situation has occurred, with respect to an order placed by an order side customer which is advantageous to the customer under current market conditions with respect to the price of the offered order by judging the relative amount of the price of the offered order, as placed by the order side customer, and the calculated decision price output by said calculating means, and the situation comprising one of a first situation, which is advantageous as to a bid order price of the order placed by the order side customer and a second situation, which is advantageous as to an offer order price of a bid order placed by the order side customer, further detecting if a best rate has changed and outputs a corresponding best rate change detection output, and furthermore detecting if an order, which has been placed, is hit and outputs a corresponding hit detection output; and

alarm means, interior of said system, for selectively outputting different audio alarms when the detecting means detects, respectively, the occurrence of the first and second advantageous situation enabling the customer to discriminate between the first and second situations, further being responsive to the best rate change detection output for producing a corresponding audio alarm output, and furthermore being responsive to the hit detection output, produced by the detecting means when detecting a hit, for outputting a corresponding alarm output.

13. An electronic dealing system comprising:

a host computer;

plural customer systems individually connected to the host computer and by the host computer selectively to other said customer systems, each customer system comprising a terminal which is interactive with the customer;

each terminal being operative to generate and supply, to the host computer, information on an offer of order transaction order placed by an order side customer and information on a request for hit transaction order placed by a hit side customer;

the host system further comprising;

an administration unit for receiving an offer of order information from a terminal and for receiving a request for hit information from a terminal, and

a matching unit for matching an order placed by an order side customer with a request for hit placed by a hit side customer, as received by the host computer respectively from the corresponding order side customer and hit side customer terminals, and for completing a transaction therebetween; and

each terminal further comprising;

setting means for setting a margin relative to a last trade price corresponding to a transaction order,

calculating means, connected to said setting means, for calculating a decision price for the transaction from the last trade price and the margin set by said setting means when the last trade price corresponding thereto has been determined and outputting the calculated decision price,

detecting means, connected to said calculating means, for detecting if a situation has occurred, with respect to an order placed by an order side customer, which is one of a disadvantageous situation and an advantageous situation to the customer under current market conditions with respect to the price of the placed order by judging the relative amount of the price of the placed order, as placed by the order side customer, and the calculated decision price output by said calculating means, further detecting if a best rate has changed and outputs a corresponding best rate change detection output, and furthermore detecting if an order, which has been placed, is hit and outputs a corresponding hit detection output; and

alarm means, disposed interior said terminal connected to said detecting means and responsive to the detecting means detecting the occurrence of one of the advantageous situation and the disadvantageous situation, for producing a corresponding one of advantageous and disadvantageous different audio alarm outputs, further being responsive to the best rate change detection output for producing a corresponding audio alarm output, and furthermore being responsive to the hit detection output, produced by the detecting means when detecting a hit, for outputting a corresponding alarm output.

14. An electronic dealing system as claimed in claim 13, wherein said alarm means ouputs a different alarm for a plurality of disadvantageous situations and for a plurality of advantageous situations.

15. An electronic dealing system comprising:

a host computer;

plural customer systems individually connected to the host computer and by the host computer selectively to other said customer systems, each customer system comprising a terminal which is interactive with a customer;

each terminal being operative to generate and supply, to the host computer, information on an offer of order transaction order placed by an order side customer and information on a request for hit transaction order placed by a hit side customer;

the host system comprising;

an administration unit for receiving an offer of order information from a terminal and for receiving a request for hit information from a terminal, and

a matching unit for matching an order placed by an order side customer with a request for hit placed by a hit side customer, as received by the host computer respectively from the corresponding order side customer and hit side customer terminals, and for completing a transaction therebetween; and

each terminal further comprising;

trade price monitoring and determining means for monitoring trade prices and for determining a last trade price relative to a specific transaction;

setting means for setting a margin relative to the last trade price;

calculating means, connected to said setting means and said trade price monitoring and determining means, for calculating a decision price for the specific transaction from the last trade price relative thereto and the margin set by said setting means when the last trade price has been determined by said trade price monitoring and determining means and outputting the calculated decision price;

detecting means, connected to said calculating means, for detecting if a situation has occurred, with respect to an order placed by an order side customer which is one of a disadvantageous situation and an advantageous situation to the customer under current market conditions with respect to the price of the placed order by judging the relative amount of the price of the placed order, as placed by the order side customer, and the calculated decision price output by said calculating means, further detecting if a best rate has changed and outputs a corresponding best rate change detection output, and furthermore detecting if an order, which has been placed, is hit and outputs a corresponding hit detection output; and

alarm means, disposed interior of said terminal connected to said detecting means and responsive to the detecting means detecting the occurrence of one of the advantageous situation and the disadvantageous situation, for producing a corresponding one of advantageous and disadvantageous different audio alarm outputs, further being responsive to the best rate change detection output for producing a corresponding audio alarm output, and furthermore being responsive to the hit detection output, produced by the detecting means when detecting a hit, for outputting a corresponding alarm output.

16. An electronic dealing system as claimed in claim 15, wherein said alarm means ouputs a different alarm for a plurality of disadvantageous situations and for a plurality of advantageous situations.