Click based trading with intuitive grid display of market depth and price consolidation
DC CAFCFirst Claim
1. A method for displaying market information relating to a commodity being traded in a market with a highest bid price and a lowest ask price on a graphical user interface, the method comprising:
- dynamically displaying a plurality of bid indicators in a bid display region in association with price levels arranged along a common static axis of prices, each bid indicator representing quantity associated with a price level;
dynamically displaying a plurality of ask indicators in an ask display region in association with the price levels arranged along the common static price axis, each ask indicator representing quantity associated with a price level;
consolidating the price levels of the common static price axis such that a plurality of price levels are combined into a consolidated price level;
consolidating the display of the plurality of bid and ask indicators into a plurality of consolidated bid and ask indicators so that each consolidated bid and ask indicator represents quantity associated with a plurality of price levels within a consolidated price level.
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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 fluctuate. This allows the trader to trade quickly and efficiently. The price consolidation feature of the present invention, as described herein, enables a trader to consolidate a number of prices in order to condense the display. Such action allows a trader to view a greater range of prices and a greater number of orders in the market at any given time. By consolidating prices, and therefore orders, a trader reduces the risk of a favorable order scrolling from the screen prior to filling a bid or ask on that order at a favorable price.
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Citations
12 Claims
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1. A method for displaying market information relating to a commodity being traded in a market with a highest bid price and a lowest ask price on a graphical user interface, the method comprising:
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dynamically displaying a plurality of bid indicators in a bid display region in association with price levels arranged along a common static axis of prices, each bid indicator representing quantity associated with a price level; dynamically displaying a plurality of ask indicators in an ask display region in association with the price levels arranged along the common static price axis, each ask indicator representing quantity associated with a price level; consolidating the price levels of the common static price axis such that a plurality of price levels are combined into a consolidated price level; consolidating the display of the plurality of bid and ask indicators into a plurality of consolidated bid and ask indicators so that each consolidated bid and ask indicator represents quantity associated with a plurality of price levels within a consolidated price level. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A computer readable medium having program code recorded thereon for execution on a computer for displaying market information relating to a commodity being traded in a market with a highest bid price and a lowest ask price on a graphical user interface, the program code causing a machine to perform the following method steps:
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dynamically displaying a plurality of bid indicators in a bid display region in association with price levels arranged along a common static axis of prices, each bid indicator representing quantity associated with a price level; dynamically displaying a plurality of ask indicators in an ask display region in association with the price levels arranged along the common static price axis, each ask indicator representing quantity associated with a price level; consolidating the price levels of the common static price axis such that a plurality of price levels are combined into a consolidated price level; and consolidating the display of the plurality of bid and ask indicators into a plurality of consolidated bid and ask indicators so that each consolidated bid and ask indicator represents quantity associated with a plurality of price levels within a consolidated price level.
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Specification