Method, apparatus and interface for trading multiple tradeable objects

• US 7,512,561 B2
• Filed: 05/03/2006
• Issued: 03/31/2009
• Est. Priority Date: 11/13/2002
• Status: Expired due to Term

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Burns, Michael J.
• Primary Examiner(s): Kramer; James A
• Assistant Examiner(s): WONG, ERIC TAK WAI
• Application Number:
  US11/417,886
• Publication Number:
  US 20060259411A1
• Time in Patent Office: 1,063 Days
• Field of Search: 705/37
• US Class Current: 705/37
• 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

An interface for trading multiple tradeable objects includes a price axis or scale. A first indication of quantities represented in a market for a first tradeable object is displayed in association with the price axis or scale. A second indication of quantities represented in the market for a second tradeable object is displayed in association with the price axis or scale. The first tradeable object may be different than the second tradeable object. Alternatively, the first tradeable object and the second tradeable object may be the same, but the indications of quantity may be provided from different sources, such as different exchanges.

Claims

1. A method of facilitating trading and displaying market information relating to two tradeable objects being traded on at least one electronic exchange using a graphical user interface and a user input device and having preset parameters for trade orders, the method comprising:

dynamically displaying a first combined quantity indicator at a location corresponding to a first price level of a plurality of price levels on a common static price axis, the first combined quantity indicator representing quantity associated with an order to buy a first tradeable object and an order to buy a second tradeable object, wherein the first tradeable object and the second tradeable object are different tradeable objects;

dynamically displaying a second combined quantity indicator at a location corresponding to a second price level on the common static price axis, the second combined quantity indicator representing quantity associated with an order to sell the first tradeable object and an order to sell the second tradeable object;

displaying an order entry region comprising a plurality of locations corresponding to the plurality of price levels along the common static price axis, such that a selection of one of the plurality of locations by a single action of a user input device sends a trade order for the first tradeable object, the second tradeable object, or both the first tradeable object and the second tradeable object;

establishing a plurality of quantity allocation rules to be used to allocate a preset default order quantity to determine an order quantity of the trade order; and

in response to a selection of one of the plurality of locations of the order entry region, using at least one of the plurality of quantity allocation rules to allocate the order quantity of the trade order to the first tradeable object, the second tradeable object, or both the first and second tradeable object.

2. The method of claim 1, wherein the plurality of quantity allocation rules are user-defined.

3. The method of claim 1, wherein the plurality of quantity allocation rules comprises a quantity allocation rule that defines a ratio to be used to allocate the order quantity between the first tradeable object and the second tradeable object.

4. The method of claim 1, wherein the plurality of quantity allocation rules comprises a quantity allocation rule that is based on an exchange related parameter.

5. The method of claim 4, wherein the exchange related parameter comprises a length of an order queue at a price of the trade order at an electronic exchange.

6. The method of claim 4, wherein the exchange related parameter comprises a time that is required for an order to be received at an electronic exchange.

7. The method of claim 4, wherein the exchange related parameter comprises transaction costs at an electronic exchange.

8. The method of claim 4, wherein the exchange related parameter comprises a time of a last update received from an electronic exchange.

9. The method of claim 4, wherein the plurality of quantity allocation rules comprises a quantity allocation rule that is based on a user-related parameter.

10. The method of claim 9, wherein the user-related parameter is based on a user'"'"'s margin at an electronic exchange.

11. The method of claim 1, wherein the at least one of the plurality of quantity allocation rules selected for use in relation to the trade order is selected based on time-of-day.

12. The method of claim 1, wherein the plurality of quantity allocation rules comprises a quantity allocation rule that is based on a type of command received to send the trade order.

13. The method of claim 12, wherein a right click of a mouse corresponds to a command to send the trade order for the first tradeable object, and wherein the left click of the mouse corresponds to a command to send the trade order for the second tradeable object.

14. The method of claim 1, wherein the single action of the user input device consists of a single click of a mouse.

15. The method of claim 1, wherein the single action of the user input device consists of a double click of a mouse.

16. The method of claim 1, further comprising:

receiving a first data feed comprising market data related to the first tradeable object, the market data comprising quantities at a first plurality of price levels; and

receiving a second data feed comprising market data related to the second tradeable object, the market data for the second tradeable object comprising quantities at a second plurality of price levels.

17. The method of claim 16, further comprising:

using a normalizing factor to normalize the first plurality of price levels and the second plurality of price levels such that the quantities for the first and second tradeable objects are mapped to the common static price axis.

18. The method of claim 1, wherein displaying the order entry region comprises:

displaying a bid order entry region comprising a plurality of locations for sending buy trade orders, each location corresponding to a price level along the common static price axis; and

displaying an ask order entry region comprising a plurality of locations for sending sell trade orders, each location corresponding to a price level along the common static price axis.

19. The method of claim 18, wherein the first combined quantity indicator is displayed in a bid display region, wherein the second combined quantity indicator is displayed in an ask display region.

20. The method of claim 19, wherein the bid display region overlaps the bid order region, and wherein the ask display region overlaps the ask order entry region.

21. The method of claim 1, further comprising:

based on the allocation, sending at least one trade order for the first tradeable object, the second tradeable object, or both the first tradeable object and the second tradeable object to the at least one electronic exchange.

22. The method of claim 1, further comprising:

defining a priority rule to select the at least one of the plurality of quantity allocation rules.