Two-way wireless system for financial industry transactions

• US 6,539,362 B1
• Filed: 09/22/2000
• Issued: 03/25/2003
• Est. Priority Date: 09/20/1994
• Status: Expired due to Term

• Current Assignee: NYSE Group, Inc. (Intercontinental Exchange, Inc.)
• Original Assignee: Papyrus Technology Corporation (Aptean Superior Holdings, Inc.)
• Inventors: O'Neill, Desmond Sean, Patterson, L. Thomas Jr., Carroll, Stephen Tyler
• Primary Examiner(s): Millin; Vincent
• Assistant Examiner(s): PWU, JEFFREY C
• Application Number:
  US09/668,184
• Time in Patent Office: 914 Days
• Field of Search: 705/37,35 707/100 455/31.2 709/707 395/209,235,237,208,650,674,675,672
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/388 using mutual authentication without cards, e.g. challenge-response
• 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: H04L 1/1607 Details of the supervisory signal
• CPC Class Codes: H04L 12/1804 for stock exchange and similar applications
• CPC Class Codes: H04L 61/00 Network arrangements, protocols or services for addressing or naming
• CPC Class Codes: H04L 61/50 Address allocation
• CPC Class Codes: H04L 67/04 specially adapted for terminals or networks with limited capabilities; specially adapted for terminal portability
• CPC Class Codes: H04L 69/329 in the application layer [OSI layer 7]
• CPC Class Codes: H04L 9/40 Network security protocols
• CPC Class Codes: H04W 8/26 Network addressing or numbering for mobility support

Abstract

A method for transmitting a data packet to a floor broker in a two-way wireless system comprises the steps of inputting a badge number of the floor broker to whom the data packet is to be transmitted, correlating the badge number with an assigned network address of a handheld device carried by the floor broker, and transmitting the data packet to the assigned network address. In specific embodiments, further steps concerning the nature and content of the transmissions and its protocol can be performed.

Claims

1. In a two-way wireless system for use on the floor of an exchange, a method for transmitting a data packet from a first individual on the floor of the exchange operating a first device to a second floor broker operating a second handheld device on the floor of the exchange, comprising the steps of:

a) assigning a network address to the second floor broker using a badge number, the badge number being uniquely assigned to the second floor broker for use on the floor of the exchange;

b) identifying to the first device the badge number of the second floor broker to whom the data packet is to be transmitted;

c) correlating the badge number with an assigned network address of the second hanldheld device carried by the second floor broker to permit transmissions of data packets to the second floor broker on the basis of the identified badge number; and

d) transmitting the data packet from the first device to the assigned network address of the second handheld device, wherein the data packet contains information sufficient to define one of a quotation, a quote, an order, an execution, and a partial execution.

2. The method as in claim 1, including the additional step of signing the second floor broker onto the two-way wireless system by:

1) first providing the second floor broker with one of a plurality of identifiable handheld devices; and

2) thereafter associating the badge number of the second floor broker with the identifiable handheld device.

3. The method as in claim 1, wherein the transmitting step uses a connectionless service protocol.

4. The method as in claim 1, wherein the step of transmitting includes transmitting the data packet using a spread spectrum radio link.

5. The method as in claim 1, including the additional step of routing the badge number and the data packet to an outbound queue, and wherein the transmitting step transmits the data packet from the outbound queue.

6. The method as in claim 1, including the additional step of compressing one of an instruction and a response prior to routing the data packet to an outbound queue.

7. The method as in claim 1, wherein the transmitting step includes information relating to the time of the transmission.

8. The method as in claim 1, wherein the data packet includes an image.

9. The method as in claim 8, wherein the image is compressed.

10. The method as in claim 1, including the additional step of signing the second floor broker onto the two-way wireless system by:

1) first providing the second floor broker with one of a plurality of identifiable handheld devices; and

2) thereafter associating the badge number of the second floor broker with the identifiable handheld device.

11. The method as in claim 10, wherein the transmitting step includes transmitting information relating to the time of the transmission.

12. The method as in claim 11, wherein the data packet includes an image.

13. The method as in claim 12, wherein the image is compressed.