Two-way wireless communication system for financial industry transactions
First Claim
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1. In a two-way wireless communications system adapted for use on the floor of a financial exchange, a method of providing assured communications, comprising the steps of:
- constructing an instruction signal at a first device for wireless transmission to a second device, the instruction signal corresponding to at least one of a buy order, a sell order, an execution against a buy or sell order, or a partial execution against a buy or sell order, the instruction signal including an instruction, an assigned sequence number for identifying the instruction, and an adjustable hierarchical value for identifying a present stage of the instruction, the present stage of the instruction including one of i) initial instruction status, ii) instruction sent to said second device, iii) instruction received by said second device, and iv) instruction seen by an operator of said second device;
transmitting the instruction signal from the first device to the second device;
altering the instruction signal at the second device to provide an indication that the instruction has been received by the second device, the altering step including adjusting the hierarchical value to indicate the present stage of the instruction;
transmitting the altered instruction signal from the second device to the first device;
acknowledging receipt of the instruction by providing an indication that the received instruction has been seen by an operator of the second device, the step of acknowledging including further altering the previously altered instruction signal at the second device by further adjusting the hierarchical value to indicate the present stage of the instruction; and
transmitting the further altered instruction signal from the second device to the first device.
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Abstract
A method for providing assured communication in a two-way wireless financial exchange data communication system. An instruction signal for wireless transmission between a first device and a second device includes an assigned sequence number and an adjustable hierarchical value identifying a stage of the instruction signal. The instruction signal is volleyed back-and-forth between the first device and the second device and altered in each subsequent transmission by adjusting the hierarchical value to confirm receipt of the instruction by the second device and adjusting the hierarchical value to verify to the first device that the instruction has been seen by a user of the second device.
71 Citations
6 Claims
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1. In a two-way wireless communications system adapted for use on the floor of a financial exchange, a method of providing assured communications, comprising the steps of:
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constructing an instruction signal at a first device for wireless transmission to a second device, the instruction signal corresponding to at least one of a buy order, a sell order, an execution against a buy or sell order, or a partial execution against a buy or sell order, the instruction signal including an instruction, an assigned sequence number for identifying the instruction, and an adjustable hierarchical value for identifying a present stage of the instruction, the present stage of the instruction including one of i) initial instruction status, ii) instruction sent to said second device, iii) instruction received by said second device, and iv) instruction seen by an operator of said second device; transmitting the instruction signal from the first device to the second device; altering the instruction signal at the second device to provide an indication that the instruction has been received by the second device, the altering step including adjusting the hierarchical value to indicate the present stage of the instruction; transmitting the altered instruction signal from the second device to the first device; acknowledging receipt of the instruction by providing an indication that the received instruction has been seen by an operator of the second device, the step of acknowledging including further altering the previously altered instruction signal at the second device by further adjusting the hierarchical value to indicate the present stage of the instruction; and transmitting the further altered instruction signal from the second device to the first device. - View Dependent Claims (2, 3, 4, 5, 6)
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Specification
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Current AssigneeNYSE Group, Inc. (Intercontinental Exchange, Inc.)
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Original AssigneePapyrus Technology Corporation (Aptean Superior Holdings, Inc.)
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InventorsPatterson, L. Thomas, Carroll, Stephen T., O'Neill, Desmond Sean
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Primary Examiner(s)Dass; Harish T.
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Application NumberUS10/851,949Time in Patent Office1,453 DaysField of Search705/35, 705/37, 715/507, 455/33.1, 370/401, 340/825.26US Class Current705/35CPC Class CodesG06Q 20/10 specially adapted for elect...G06Q 40/00 Finance; Insurance; Tax str...G06Q 40/04 Trading; Exchange, e.g. sto...
