Order centric tracking system and protocol for communications with handheld trading units

• US 7,610,239 B1
• Filed: 09/30/2005
• Issued: 10/27/2009
• Est. Priority Date: 10/06/1999
• Status: Expired due to Term

• Current Assignee: Goldman Sachs & Co. LLC (Goldman Sachs Group Incorporated)
• Original Assignee: Goldman Sachs & Company (Goldman Sachs Group Incorporated)
• Inventors: Silverman, Andrew F., Lavicka, Matthew, Ngai, David W.
• Primary Examiner(s): PATEL, JAGDISH
• Application Number:
  US11/239,929
• Time in Patent Office: 1,488 Days
• Field of Search: 705/35, 705/37
• US Class Current: 705/37
• 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

A computerized method and system for tracking orders implemented on a trading floor exchange is disclosed. The system is order-centric and is configured to route orders to a booth and floor broker in accordance with a symbol associated with the particular security being traded. Floor brokers communicate with the trading system through handheld devices connected to a handheld server via a wireless interface. A specific protocol for messaging protocol for communications between the handheld devices and the handheld server is also disclosed.

Claims

1. A computer implemented method for processing a look request for a security traded on a floor of a trading exchange, the method comprising the steps of:

representing the security with a symbol in a computerized apparatus;

allocating the symbol in the computerized apparatus to a booth, wherein the allocation is accomplished by the computerized apparatus;

allocating the symbol to a floor broker ID, wherein the allocation is accomplished by the computerized apparatus;

transmitting a look request message to a computer server;

associating a computerized booth station with the booth;

processing the look request message to determine routing data associated with routing the look request message to the computerized booth station and a handheld computing device;

routing the look request message through the computer server to the computerized booth station associated with the booth to which the symbol has been allocated; and

routing the look request message through the computer server to the handheld computing device associated with the floor broker ID to which the symbol has been allocated, wherein said look request message comprises;

a request ID, the symbol, and priority.

2. The computer implemented method of claim 1 wherein the look request message additionally comprises an indication of an amount of time that an accepted look request will live before it is passively rejected.

3. The computer implemented method of claim 1 additionally comprising the step of receiving a look reply message comprising the look request ID, the symbol, and an accept attribute.

4. The computer implemented method of claim 1 additionally comprising the step of receiving a look reply message comprising:

the look request ID, the symbol, and an indication of the market for the security associated with the symbol.

5. The computer implemented method of claim 4 wherein the indication of the market for the security comprises an indication of at least one of:

a price for the security, a demand for buyers of the security, and a demand for sellers of the security.

6. A computer implemented method for communication with a handheld computing device for the purpose of processing a look request for a security, the method comprising the steps of:

receiving a look request message at the handheld computing device from a computer server, the look request message comprising a request for information descriptive of the market for a security associated with a symbol and listed for trading on a trading exchange floor;

processing the received look request message in the handheld computing device to extract data identifying the symbol associated with the information request;

generating in the handheld computing device a look reply message that indicates whether the look request message is accepted or rejected;

sending the look reply message to the computer server, wherein said look reply message; and

in the instance where the look reply message sent to the computer server indicates that the handheld computing device accepted the look request, sending to the computer server an indication of at least one of;

a price for the security, a demand for buyers of the security, and a demand for sellers of the security.