Trading interface for facilitating trading of multiple tradeable objects in an electronic trading environment

• US 7,571,134 B1
• Filed: 09/30/2004
• Issued: 08/04/2009
• Est. Priority Date: 11/13/2002
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: West, Robert A., Burns, Michael J., Murphy, Stephen J., O'Connor, Gerald J.
• Primary Examiner(s): Kramer; James A
• Assistant Examiner(s): Wong; Eric T
• Application Number:
  US10/954,681
• Time in Patent Office: 1,769 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

A system and method are provided for trading multiple tradeable objects. One example method includes displaying at least one combined quantity indicator representing a combined quantity associated with at least two tradeable objects, detecting an input associated with an order for a predetermined order quantity in relation to one of the combined quantity indicators, and allocating the order quantity between the at least two tradeable objects using at least one quantity allocation rule. In one example embodiment, a plurality of quantity allocation rules can be user-configurable, and different rules can be defined and applied in relation to different order types.

Claims

1. A computer-based method for use in facilitating trading of multiple tradeable objects in an electronic trading environment, the method comprising:

receiving, via a computing device, market information from an electronic exchange for a first tradeable object and a second tradeable object, wherein the first tradeable object and the second tradeable object are different tradeable objects, the market information comprising a first price to buy a first quantity of the first tradeable object, a second price to sell a second quantity of the first tradeable object, a third price to buy a third quantity of the second tradeable object, and a fourth price to sell a fourth quantity of the second tradeable object;

generating, via the computing device, a plurality of price levels along a common static price axis;

dynamically displaying, via the computing device, a first quantity indicator at a location corresponding to the first price on the common static price axis, the first quantity indicator indicating the first quantity to buy the first tradeable object at the first price;

dynamically displaying, via the computing device, a second quantity indicator at a location corresponding to the second price on the common static price axis, the second quantity indicator indicating the second quantity to sell the first tradeable object at the second price;

receiving, via the computing device, a quantity equalizer value;

equalizing, via the computing device, a particular quantity for the second tradeable object to a certain quantity for the first tradeable object based on the quantity equalizer value, wherein a fifth quantity is calculated based on the quantity equalizer value and the third quantity, and wherein a sixth quantity is calculated based on the quantity equalizer value and the fourth quantity;

dynamically displaying, via the computing device, a third quantity indicator at a location corresponding to the third price on the common static price axis, the third quantity indicator indicating the fifth quantity to buy the second tradeable object; and

dynamically displaying, via the computing device, a fourth quantity indicator at a location corresponding to a price level along the common static price axis, the fourth quantity indicator indicating the sixth quantity to sell the second tradeable object,

wherein the first, second, third, and fourth indicators can move relative to the common static price axis when the market changes for the first and second tradeable objects respectively.

2. The method of claim 1, further comprising:

displaying an order entry region aligned with the static common price axis comprising a plurality of locations for receiving commands from a user input device to send trade orders for at least one of the first tradeable object and the second tradeable object, each location corresponding to a price level of the static common price axis.

3. The method of claim 2, further comprising:

displaying a first field defining a default static quantity that can be used in relation to an order being entered in the order entry region; and

displaying a second field defining a dynamic quantity that can be used in relation to an order being entered in the order entry region.

4. The method of claim 3, wherein the dynamic quantity being displayed in the second field is dynamically updated based on a formula.

5. The method of claim 3, wherein a user can select which of the default static quantity and the dynamic quantity will be applied in relation to the order.

6. The method of claim 1, further comprising:

providing a tick interval to be used to generate the common static price axis.

7. The method of claim 1, further comprising:

receiving a user activation input to activate an order pane window, wherein the order pane window comprises working order related information; and

displaying the order pane window in relation to at least one region displayed in relation to the common static price axis.

8. The method of claim 7, wherein the working order related information comprises at least one working order parameter, the method comprising:

receiving a user input in the order pane window to change at least one working order parameter; and

changing the at least one parameter of the working order based on the user input.

9. The method of claim 8, wherein the at least one working order parameter comprises a working order quantity.

10. The method of claim 8, wherein the at least one working order parameter comprises a working order price.

11. The method of claim 1, further comprising:

displaying a plurality of working order indicators in relation to the common price axis, wherein each working order indicator is displayed in relation to a location corresponding to a price level associated with a corresponding working order.

12. The method of claim 11, further comprising:

detecting a request to delete the plurality of working orders; and

deleting the plurality of working orders, wherein an order in which the plurality of working orders are deleted depends on a relative position of each order in relation to an inside market.

13. The method of claim 12, wherein a working order at a price level closest to an inside market is deleted first before a next working order at a price level that is farther from the inside market is deleted.

14. The method of claim 1, further comprising:

displaying a better than best indicator in relation to a price level on the common static price axis, wherein the better than best indicator is displayed at a location corresponding to a price level on the common price axis, and wherein the better than best indicator illustrates that there is a bid quantity at a price level that is higher in value than the corresponding price level or that there is an ask quantity at a price level that is lower in value than the corresponding price level.

15. The method of claim 14, wherein the better than best indicator is based on consolidated quantities corresponding to unconsolidated prices.

16. The method of claim 15, wherein the better than best indicator is further based on implied quantities at implied prices.

17. The method of claim 16, wherein the better than best indicator comprises a graphical indicator.

18. The method of claim 16, wherein that the better than best indicator comprises a graphical indicator with a quantity value corresponding to a better price than the price corresponding to the indicator and the next available price.

19. The method of claim 1, wherein the quantity equalizer value comprises a ratio.

20. The method of claim 1, further comprising receiving an order request to buy or sell a designated quantity of the second tradeable object, and modifying the designated quantity based on the quantity equalizer value before sending the order request to an electronic exchange.

21. The method of claim 1, further comprising aggregating the first quantity indicator, the second quantity indicator, the third quantity indicator, and the fourth quantity indicator in a single display region in relation to the common static price axis, such that a combined bid quantity indicator is displayed when the first quantity indicator and the third quantity indicator are at a same price level and a combined ask quantity indicator is displayed when second quantity indicator and the fourth quantity indicator are at a same price level.

22. A computer-readable medium having program code recorded thereon for execution on a computer, the program code causing a machine to perform the method comprising:

receiving, via a computing device, market information from an electronic exchange for a first tradeable object and a second tradeable object, wherein the first tradeable object and the second tradeable object are different tradeable objects, the market information comprising a first price to buy a first quantity of the first tradeable object, a second price to sell a second quantity of the first tradeable object, a third price to buy third quantity of the second tradeable object, and a fourth price to sell a fourth quantity of the second trade able object;

generating, via the computing device, a plurality of price levels along a common static price axis;

dynamically displaying, via the computing device, a first quantity indicator at a location corresponding to the first price on the common static price axis, the first quantity indicator indicating the first quantity to buy the first tradeable object at the first price;

dynamically displaying, via the computing device, a second quantity indicator at a location corresponding to the second price on the common static price axis, the second quantity indicator indicating the second quantity to sell the first tradeable object at the second price;

receiving, via the computing device, a quantity equalizer value;

equalizing, via the computing device, a particular quantity for the second tradeable object to a certain quantity for the first tradeable object based on the quantity equalizer value, wherein a fifth quantity is calculated based on the quantity equalizer value and the third quantity, and wherein a sixth quantity is calculated based on the quantity equalizer value and the fourth quantity;

dynamically displaying, via the computing device, a third quantity indicator at a location corresponding to the third price on the common static price axis, the third quantity indicator indicating the fifth quantity to buy the second tradeable object; and

dynamically displaying, via the computing device, a fourth quantity indicator at a location corresponding to a price level along the common static price axis, the fourth quantity indicator indicating the sixth quantity to sell the second tradeable object,

wherein the first, second, third, and fourth indicators can move relative to the common static price axis when the market changes for the first and second tradeable object respectively.