Routing control for orders eligible for multiple markets
First Claim
Patent Images
1. A method of routing an order, comprising:
- receiving a selection of an order handling program from a set of predefined order handling programs, wherein the order handling programs are software programs that exist independently and are separately executable on a platform comprised of a computer system,executing the order handling program on the platform, wherein the order handling program is configured with an order that includes a set of conditional rules and corresponding actions to be taken when conditions in the conditional rules are met, the order identifying an item for a trade,building an action list for the order in accordance with the set of conditional rules, the building being performed by the order handling program and the action list including those actions whose conditions in the set of conditional rules have been met, andclassifying each action in the action list according to recipient of the action, wherein;
when the recipient of the action is a service umpire that is separately executing on the platform, the action must be one of a plurality of actions specified by the service umpire and processing of the action is directed to the service umpire;
orwhen the recipient of the action is an order room that originated the order, processing of the action includes sending a message to the order room to provide order-related information;
orwhen the recipient of the action is the platform, processing of the action includes sending a message to the platform to perform a requested service;
orwhen the recipient of the action is an order umpire providing a market for the item in the order, the order is routed to the order umpire for processing the action, the order umpire being one of a plurality of order umpires that are each separately executing on the platform to provide a market for trading one or more items, and the routing being performed by the order handling program.
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Accused Products
Abstract
Trading processes are operative to route orders from order rooms to market processes, which process the orders according to respective market methodologies. The order routing strategy can be embodied in a decision table having rules with conditions and actions to be taken when the conditions are true. Accordingly, order rooms can readily configure and reconfigure trading processes.
102 Citations
24 Claims
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1. A method of routing an order, comprising:
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receiving a selection of an order handling program from a set of predefined order handling programs, wherein the order handling programs are software programs that exist independently and are separately executable on a platform comprised of a computer system, executing the order handling program on the platform, wherein the order handling program is configured with an order that includes a set of conditional rules and corresponding actions to be taken when conditions in the conditional rules are met, the order identifying an item for a trade, building an action list for the order in accordance with the set of conditional rules, the building being performed by the order handling program and the action list including those actions whose conditions in the set of conditional rules have been met, and classifying each action in the action list according to recipient of the action, wherein; when the recipient of the action is a service umpire that is separately executing on the platform, the action must be one of a plurality of actions specified by the service umpire and processing of the action is directed to the service umpire;
orwhen the recipient of the action is an order room that originated the order, processing of the action includes sending a message to the order room to provide order-related information;
orwhen the recipient of the action is the platform, processing of the action includes sending a message to the platform to perform a requested service;
orwhen the recipient of the action is an order umpire providing a market for the item in the order, the order is routed to the order umpire for processing the action, the order umpire being one of a plurality of order umpires that are each separately executing on the platform to provide a market for trading one or more items, and the routing being performed by the order handling program. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 16)
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9. A computer system comprising a platform on which an order is routed to a market, comprising:
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a processing component configured to receive a selection of an order handling program from a set of predefined order handling programs, wherein the order handling programs are software programs that exist independently and are separately executable on the platform, a processing component configured to execute the order handling program on the platform, wherein the order handling program is configured with an order that includes a set of conditional rules and corresponding actions to be taken when conditions in the conditional rules are met, the order identifying an item for a trade, a processing component configured to build an action list for the order in accordance with the set of conditional rules, the building being performed by the order handling program and the action list including those actions whose conditions in the set of conditional rules have been met, and a processing component configured to classify each action in the action list according to recipient of the action, wherein; when the recipient of the action is a service umpire that is separately executing on the platform, the action must be one of a plurality of actions specified by the service umpire and processing of the action is directed by the processing component to the service umpire;
orwhen the recipient of the action is an order room that originated the order, processing of the action includes the processing component sending a message to the order room to provide order-related information;
orwhen the recipient of the action is the platform, processing of the action includes the processing component sending a message to the platform to perform a requested service;
orwhen the recipient of the action is an order umpire providing a market for the item in the order, the order is routed to the order umpire for processing the action, the order umpire being one of a plurality of order umpires that are each separately executing on the platform to provide a market for trading one or more items, and the routing being performed by the processing component that is configured to execute the order handling program. - View Dependent Claims (10, 11, 12, 13, 14, 15)
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17. A computer-accessible medium having executable instructions stored thereon, wherein the instructions, when executed by a computer, cause the computer to:
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receive a selection of an order handling program from a set of predefined order handling programs, wherein the order handling programs are software programs that exist independently and are separately executable on a platform comprised of a computer system, execute the order handling program on the platform, wherein the order handling program is configured with an order that includes a set of conditional rules and corresponding actions to be taken when conditions in the conditional rules are met, the order identifying an item for a trade, build an action list for the order in accordance with the set of conditional rules, the building being performed by the order handling program and the action list including those actions whose conditions in the set of conditional rules have been met, and classify each action in the action list according to recipient of the action, wherein; when the recipient of the action is a service umpire that is separately executing on the platform, the action must be one of a plurality of actions specified by the service umpire and processing of the action is directed to the service umpire;
orwhen the recipient of the action is an order room that originated the order, processing of the action includes sending a message to the order room to provide order-related information;
orwhen the recipient of the action is the platform, processing of the action includes sending a message to the platform to perform a requested service;
orwhen the recipient of the action is an order umpire providing a market for the item in the order, the order is routed to the order umpire for processing the action, the order umpire being one of a plurality of order umpires that are each separately executing on the platform to provide a market for trading one or more items, and the routing is performed by the order handling program. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24)
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Specification