Market event alerts and user access to monitoring data

• US 7,454,372 B1
• Filed: 07/02/1999
• Issued: 11/18/2008
• Est. Priority Date: 07/02/1999
• Status: Expired due to Fees

• Current Assignee: Nasdaq, Inc.
• Original Assignee: Nasdaq Stock Market LLC (Nasdaq, Inc.)
• Inventors: Boulter, Brenda L., Neidenbach, Ann G., Anaya, Ana Gabriela
• Primary Examiner(s): WEISBERGER, RICHARD C
• Application Number:
  US09/347,497
• Time in Patent Office: 3,427 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 method of detecting alert conditions includes receiving an electronic market event message for a new quote from a market participant, requesting a previous quote for the items, and determining whether the new quote is higher or lower than the previous quote. The method also includes sending an electronic alert from the alert engine in response to the new quote being a bid and higher than the previous quote.

Claims

1. A computer program product, tangibly embodied in an information carrier, for detecting alert conditions in a market, the computer program product being operable to cause data processing apparatus to:

receive a message in a system for a new quote for a trading item;

compare the new quote to one or more existing quotes for the same item, including determine whether the received message is a duplicate of an earlier received message;

transmit an alert message in response to comparing if the new quote causes a locked or crossed market condition and responsive to the received alert message not being a duplicate; and

update one of the inside quotes in the system in response to the new quote being one of a higher bid quote and a lower ask quote.

2. The computer program product of claim 1, wherein transmit the alert message is responsive to crossing quotes having price differences greater than a preselected threshold amount.

3. The computer program product of claim 1 wherein the existing quotes are inside quotes.

4. The computer program product of claim 3 wherein the trading item is a security.