Decision table for order handling
First Claim
Patent Images
1. A method of facilitating trading among a set of processes having respective owners, comprising:
- automatically, via a computer, operating at least one of the processes according to an order processing methodology byretrieving a decision table having at least two rules specifying at least one of a discovery strategy and an order handling strategy, each rule having at least one condition and at least one action to be taken when the condition is satisfied, wherein the decision table further includes a holding tank storing a plurality of unrelated orders that have been generated but not yet submitted for execution at a market, andautomatically evaluating whether the at least one condition for each of the rules is satisfied, andfor each of the rules having a satisfied condition, automatically, via a computer, configuring the at least one process to act on the at least one action,wherein at least one action of at least one rule in the decision table is to store an order in the holding tank, the holding tank having one or more market-related conditions associated therewith that are applicable to the holding tank as a whole, the method further comprising monitoring the one or more conditions of the holding tank and when the one or more conditions are met, removing all of the plurality of unrelated orders from the holding tank and taking at least one specified trading-related action with respect to each of the removed orders.
4 Assignments
0 Petitions
Accused Products
Abstract
Trading processes and market processes interact with each other on a platform. Each of the trading processes has a trading strategy embodied in a decision table. Each of the market processes has a market methodology that may employ a decision table in like manner as the trading processes. Accordingly, the trading processes and market processes are easy to configure. The decision table comprises rules having conditions and actions that are to be performed when the conditions are true.
-
Citations
44 Claims
-
1. A method of facilitating trading among a set of processes having respective owners, comprising:
-
automatically, via a computer, operating at least one of the processes according to an order processing methodology by retrieving a decision table having at least two rules specifying at least one of a discovery strategy and an order handling strategy, each rule having at least one condition and at least one action to be taken when the condition is satisfied, wherein the decision table further includes a holding tank storing a plurality of unrelated orders that have been generated but not yet submitted for execution at a market, and automatically evaluating whether the at least one condition for each of the rules is satisfied, and for each of the rules having a satisfied condition, automatically, via a computer, configuring the at least one process to act on the at least one action, wherein at least one action of at least one rule in the decision table is to store an order in the holding tank, the holding tank having one or more market-related conditions associated therewith that are applicable to the holding tank as a whole, the method further comprising monitoring the one or more conditions of the holding tank and when the one or more conditions are met, removing all of the plurality of unrelated orders from the holding tank and taking at least one specified trading-related action with respect to each of the removed orders. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
-
-
14. A method of facilitating trading, comprising:
-
automatically, via a computer, retrieving, at an order handling process operated on behalf of a process owner that is one of a plurality of process owners, a decision table representing an order processing methodology, the decision table having at least two rules specifying at least one of a discovery strategy and an order handling strategy, each rule having at least one condition and at least one action to be taken when the condition is satisfied, wherein the decision table further includes a holding tank storing a plurality of unrelated orders that have been generated but not yet submitted for execution at a market, and automatically, via a computer, applying, at the order handling process, the decision table to process an order when a specified event occurs, wherein at least one action of at least one rule in the decision table is to store an order in the holding tank, the holding tank having one or more market-related conditions associated therewith that are applicable to the holding tank as a whole, the method further comprising monitoring the one or more conditions of the holding tank and when the one or more conditions are met, removing all of the plurality of unrelated orders from the holding tank and taking at least one specified trading-related action with respect to each of the removed orders. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
-
-
31. A system for facilitating trading, comprising:
-
a computer having a processing component, wherein the processing component is configured to process an order by retrieving a decision table having rules that specify at least one condition and at least one action to be taken when the at least one condition is satisfied, wherein the decision table further includes a holding tank storing a plurality of unrelated orders that have been generated but not yet submitted for execution at a market, and wherein at least one action of at least one rule in the decision table is to store an order in the holding tank, the holding tank having one or more market-related conditions associated therewith that are applicable to the holding tank as a whole, the processing component being further configured to monitor the one or more conditions of the holding tank and when the one or more conditions are met, to remove all of the plurality of unrelated orders from the holding tank and take at least one specified trading-related action with respect to each of the removed orders. - View Dependent Claims (32, 33, 34, 35, 36)
-
-
37. A computer-accessible medium having executable instructions stored thereon for facilitating trading, wherein the instructions, when executed, cause a computer to:
-
process an order in accordance with a decision table, wherein the decision table has rules that specify at least one condition and at least one action to be taken when the at least one condition is satisfied, wherein the decision table further includes a holding tank storing a plurality of unrelated orders that have been generated but not yet submitted for execution at a market, and wherein at least one action of at least one rule in the decision table is to store an order in the holding tank, and wherein the instructions, when executed, further cause the computer to monitor one or more market-related conditions associated with the holding tank as a whole and when the one or more market-related conditions are met, to remove all of the plurality of unrelated orders from the holding tank and take at least one specified trading-related action with respect to each of the removed orders. - View Dependent Claims (38, 39, 40, 41, 42)
-
-
43. A computer system for facilitating trading, comprising:
-
means for retrieving a decision table having at least two rules specifying at least one of a discovery strategy and an order handling strategy, each rule having at least one condition and at least one action to be taken when the condition is satisfied, wherein the decision table further includes a holding tank storing a plurality of unrelated orders that have been generated but not yet submitted for execution at a market, means for evaluating whether the at least one condition for each of the rules is satisfied, and for each of the rules having a satisfied condition, acting on the at least one action, wherein at least one action of at least one rule in the decision table is to store an order in the holding tank, the holding tank having one or more market-related conditions associated therewith that are applicable to the holding tank as a whole, and means for monitoring the one or more conditions of the holding tank and when the one or more conditions are met, removing all of the plurality of unrelated orders from the holding tank and taking at least one specified trading-related action with respect to each of the removed orders.
-
-
44. A method of trading, comprising:
-
using a computer to operate an order handling process which retrieves from a memory a decision table representing an order processing methodology, the decision table having at least two rules specifying at least one of a discovery strategy and an order handling strategy, each rule having at least one condition and at least one action to be taken when the condition is satisfied, wherein the decision table further includes a holding tank storing a plurality of unrelated orders that have been generated but not yet submitted for execution at a market, applying, at the order handling process, the decision table to process an order when a specified event occurs, wherein at least one action of at least one rule in the decision table is to store an order in the holding tank, the holding tank having one or more market-related conditions associated therewith that are applicable to the holding tank as a whole, and using the computer to monitor the one or more conditions of the holding tank and when the one or more conditions are met, removing all of the plurality of unrelated orders from the holding tank and taking at least one specified trading-related action with respect to each of the removed orders.
-
Specification