System and method for trading and displaying market information in an electronic trading environment

• US 7,389,258 B2
• Filed: 05/03/2006
• Issued: 06/17/2008
• Est. Priority Date: 03/02/2000
• Status: Expired due to Term

• Current Assignee: Trading Technologies, Inc. (Trading Technologies International, Inc.)
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Borsand, Steven F., Triplett, Mark W., Brumfield, Harris C.
• Primary Examiner(s): WEISBERGER, RICHARD C
• Application Number:
  US11/417,534
• Publication Number:
  US 20060265316A1
• Time in Patent Office: 776 Days
• Field of Search: 705 35- 45
• US Class Current: 705/35
• 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

Abstract

A system and method for trading and displaying market information along a static axis are described to ensure fast and accurate execution of trades. The static axis, whether is a straight axis or a curved one, can be oriented in any direction. Regardless of how the axis is oriented, a first region may display price levels that are arranged along the static axis. A second region, which overlaps the first region, may display one or more indicators for highlighting one of the price levels associated with the lowest offer and one of the price levels associated with the highest bid. Moreover, a third region, which overlaps the first region, may be included for initiating placement of an order to buy or an order to sell the tradeable object through an action of a user input device. Other overlapping regions may also be displayed so that additional market information may be viewed by a trader.

Claims

1. A computer implemented method for displaying market information on a computer display screen relating to and for facilitating trading of a first tradeable object and a second tradeable object being traded on at least one electronic exchange, comprising:

receiving market pricing bid and ask prices related to a first and a second exchange traded object;

displaying a first region comprising a plurality of locations, each location corresponding to a price level along a static price axis;

displaying a second region that substantially overlaps the first region for dynamically displaying a first indicator at a first location of the plurality of locations associated with a first highest bid price corresponding to the first tradeable object, and for dynamically displaying a second indicator at a second location of the plurality of locations associated with a first lowest ask price corresponding to the first tradeable object;

displaying a third region that substantially overlaps the first region and the second region, the third region for dynamically displaying a third indicator at a third location of the plurality of locations associated with a second highest bid price corresponding to tile second tradeable object, and for dynamically displaying a fourth indicator at a fourth location of the plurality of locations associated with tile second lowest ask price corresponding to the second tradeable object;

upon receipt of a new first highest bid price or a new first lowest ask price for the first tradeable object, dynamically moving the first indicator to a new first location of the plurality of locations to reflect the new first highest bid price, and dynamically moving the second indicator to a new second location of the plurality of locations to reflect the new first lowest ask price; and

upon receipt of market a new second highest bid price and a new second lowest ask price for the second tradeable object, dynamically moving the second indicator to a new third location of the plurality of locations to reflect the new second highest bid price, and dynamically moving the fourth indicator to a new fourth location of the plurality of locations to reflect the new second highest bid price.

2. The method of claim 1, further comprising:

displaying an order entry region comprising a plurality of locations for receiving commands to send trade orders, each location corresponding to a price level along the axis; and

receiving a command to send a trade order to the electronic exchange, wherein the command results from selecting a particular location in the order entry region corresponding to a desired price level along the price axis as part of a single action, wherein the single action sets a plurality of parameters for the trade order in addition to a default quantity and sends the trade order to the electronic exchange.

3. The method of claim 2, wherein the plurality of parameters comprises the desired price level, and whether the trade order is an order to buy or sell the first tradeable object or the second tradeable object.

4. The method of claim 2, wherein the default quantity is designated to be used for a single trade order.

5. The method of claim 2, wherein the default quantity is designated to be used for a plurality of trade orders.

6. The method of claim 2, wherein the single action consists of a single click of a user input device.

7. The method of claim 2, wherein the single action consists of a double click of a user input device.

8. The method of claim 4, further comprising:

dynamically displaying an entered order indicator in association with a price level along the axis in the first region.

9. The method of claim 8, further comprising:

cancelling the trade order in response to a subsequent single action of the user with the pointer of the user input device positioned over the entered order indicator.

10. The method of claim 2, wherein the order entry region substantially overlaps the first region, the second region and the third region.

11. The method of claim 10, wherein the overlapping of the order entry region with the first, second and third regions allows a user to send trade orders to buy the first tradeable object by positioning the cursor over the first indicator and selecting a location corresponding to the first indicator, and wherein overlapping of the order entry region with the first, second and third regions allows a user to send trade orders to sell the first tradeable object by positioning the cursor over the second indicator and selecting a location corresponding to the second indicator.

12. The method of claim 10, wherein the overlapping of the order entry region with the first, second and third regions allows a user to send trade order to buy the second tradeable object by positioning the cursor over the third indicator and selecting a location corresponding to the third indicator, and wherein overlapping of the order entry region with the first, second and third regions allows a user to send trade orders to sell the second tradeable object by positioning the cursor over the fourth indicator and selecting a location corresponding to the fourth indicator.

13. The method of claim 2, further comprising:

receiving a user input from a user that designates a default quantity to be used for a plurality of trade orders, and receiving a plurality of consecutive commands from a user, each command to send a trade order to the electronic exchange, each trade order having an order quantity based on the default quantity without the user designating the default quantity between the consecutive commands.

14. The method of claim 13, wherein the plurality of trade orders comprises a combination of trade orders to buy or sell.

15. The method of claim 1, further comprising:

receiving a manual repositioning command to re-position the indicators corresponding to the first tradeable object and the second tradeable object in a window.

16. The method of claim 15, wherein the the indicators are centered in the window upon receiving the repositioning command.

17. The method of claim 15, wherein, upon receiving the manual repositioning command, a new plurality of price levels are associated with the plurality of locations in the first region.

18. The method of claim 1, further comprising:

automatically repositioning the indicators corresponding to the first and second tradeable objects in a window.

19. The method of claim 18, wherein automatically repositioning comprises automatically re-centering the indicators in the window.

20. The method of claim 1, wherein the axis comprises a single price axis.

21. The method of claim 1, wherein the axis is positioned horizontally.

22. The method of claim 1, wherein the axis is positioned vertically.

23. The method of claim 1, wherein the axis has a curvilinear shape.

24. The method of claim 23, wherein the curvilinear shape forms a substantially circular shape.

25. The method of claim 23, wherein the curvilinear shape forms a substantially elliptical shape.

26. The method of claim 1, wherein the first tradeable object is traded at a first electronic exchange, and wherein the second tradeable object is traded at a second electronic exchange.