Trading tools for electronic trading

• US 7,389,268 B1
• Filed: 04/19/2002
• Issued: 06/17/2008
• Est. Priority Date: 03/02/2000
• Status: Expired due to Term

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Schluetter, Jens-Uwe, Singer, Scott, Brumfield, Harris, Burns, Michael, Kemp, Gary Allan II
• Primary Examiner(s): Trammell; James P.
• Assistant Examiner(s): GREENE, DANIEL LAWSON
• Application Number:
  US10/125,894
• Time in Patent Office: 2,251 Days
• Field of Search: 705/37, 705/39
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/08 Auctions
• 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: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Tools for trading and monitoring a commodity on an electronic exchange using a graphical user interface and a user input device. The tools will aid the trader in determining the status, trends in the market, and the trader'"'"'s position in the market. Included is a system and method for displaying an indicator representing market information for a commodity in a display region of a graphical user interface. The system and method further includes linking a software application configured for computing a specific price to a second display region of the graphical user interface, and displaying a second indicator in a second display region of the graphical user interface. The second indicator moves relative to the price axis when the specific price changes.

Claims

1. A method of displaying information relating to a commodity on a graphical user interface, the method comprising:

receiving market data for a commodity from an electronic exchange, the market data comprises an inside market representing a best bid price and a best ask price currently available for the commodity, and the market data further comprising a last traded price for the commodity;

displaying a first display region and a second display region on a graphical user interface according to a first software application;

displaying a first indicator in one of a first plurality of locations in the first display region according to the first software application, each location in the first display region corresponding to a price level along a price axis, the first indicator representing a best bid price, a best ask price, or a last trade price for the commodity, wherein the first indicator moves relative to the price axis when the price that the first indicator represents changes;

linking a second software application configured for computing a specific price to a second display region of the graphical user interface, wherein the second software application is different from the first software application; and

displaying a second indicator in one of a second plurality of locations in the second display region, each location in the second display region corresponding to a price level along the price axis, the second indicator being displayed in a location of the second plurality of locations that corresponds to the specific price, wherein the second indicator moves relative to the price axis when the specific price changes due to the computation of the specific price by the second software application.

2. The method of claim 1, wherein the step of linking comprises copying a link from the second software application and pasting the link into the second display region of the first software application.

3. The method of claim 1, wherein the second software application comprises a spreadsheet application, and wherein linking the second software application comprises linking the second indicator to a cell in the spreadsheet application.

4. The method of claim 3, wherein the cell in the spreadsheet application contains an equation.

5. The method of claim 3, wherein the cell in the spreadsheet application contains a number.

6. The method of claim 1, wherein the second display region is displayed adjacent to the first display region.

7. The method of claim 1, wherein the second display region is displayed overlapping the first display region.

8. The method of claim 1, wherein the second display region comprises at least one dynamic indicator column that is displayed in association with the first display region and the price axis.

9. The method of claim 1, wherein the second indicator comprises a graphical indicator.

10. The method of claim 1, further comprising the step of color coding the second indicator to provide an indication of a change in the specific price.

11. The method of claim 1, further comprising the steps of:

displaying an order entry region on a graphical user interface according to the first software application, the order entry region comprising a plurality of locations for receiving commands to send trade orders, each location corresponding to a price level along the price axis; and

sending a trade order to the electronic exchange in response to selecting a particular location of the order entry region, the trade order comprising order parameters based on a default quantity parameter and a price based on a price level corresponding to the particular location at a time of selection.

12. The method of claim 11, wherein the trade order is a buy order if the selection of the location of the order entry region is within a bid order entry region and wherein the trade order is a sell order if the selection of the location of the order entry region is within an ask order entry region.

13. The method of claim 12, wherein the bid order entry region overlaps with a bid display region and the ask order entry region overlaps with the ask display region.

14. A computer readable medium having program code recorded thereon for execution by a processor to perform a method of:

receiving market data for a commodity from an electronic exchange, the market data comprises an inside market representing a best bid price and a best ask price currently available for the commodity, and the market data further comprising a last traded price for the commodity;

displaying a first display region and a second display region on a graphical user interface according to a first software application;

displaying a first indicator in one of a first plurality of locations in the first display region according to the first software application, each location in the first display region corresponding to a price level along a price axis, the first indicator representing a best bid price, a best ask price, or a last trade price for the commodity, wherein the first indicator moves relative to the price axis when the price that the first indicator represents changes;

linking a second software application configured for computing a specific price to a second display region of the graphical user interface, wherein the second software application is different from the first software application; and

displaying a second indicator in one of a second plurality of locations in the second display region, each location in the second display region corresponding to a price level along the price axis, the second indicator being displayed in a location of the second plurality of locations that corresponds to the specific price, wherein the second indicator moves relative to the price axis when the specific price changes due to the computation of the specific price by the second software application.

15. The computer readable medium of claim 14, wherein the step of linking comprises copying a link from the second software application and pasting the link into the second display region of the first software application.

16. The computer readable medium of claim 14, wherein the second software application comprises a spreadsheet application, and wherein linking the second software application comprises linking the second indicator to a cell in the spreadsheet application.

17. The computer readable medium of claim 16, wherein the cell in the spreadsheet application contains an equation.

18. The computer readable medium of claim 16, wherein the cell in the spreadsheet application contains a number.

19. The computer readable medium of claim 14, wherein the second indicator comprises a graphical indicator.

20. A system for displaying information relating to a commodity on a graphical user interface, the system comprising:

means for receiving market data for a commodity from an electronic exchange, the market data comprises an inside market representing a best bid price and a best ask price currently available for the commodity, and the market data further comprising a last traded price for the commodity;

means for displaying a first display region and a second display region on a graphical user interface according to a first software application;

means for displaying a first indicator in one of a first plurality of locations in the first display region according to the first software application, each location in the first display region corresponding to a price level along a price axis, the first indicator representing a best bid price, a best ask price, or a last trade price for the commodity, wherein the first indicator moves relative to the price axis when the price that the first indicator represents changes;

means for linking a second software application configured for computing a specific price to a second display region of the graphical user interface, wherein the second software application is different from the first software application; and

means for displaying a second indicator in one of a second plurality of locations in the second display region, each location in the second display region corresponding to a price level along the price axis, the second indicator being displayed in a location of the second plurality of locations that corresponds to the specific price, wherein the second indicator moves relative to the price axis when the specific price changes due to the computation of the specific price by the second software application.