System and method for displaying market data in an electronic trading environment

• US 7,620,588 B1
• Filed: 05/03/2006
• Issued: 11/17/2009
• Est. Priority Date: 02/24/2005
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Duquette, Douglas R.
• Primary Examiner(s): Kramer; James A
• Assistant Examiner(s): Borlinghaus; Jason M
• Application Number:
  US11/417,913
• Time in Patent Office: 1,294 Days
• Field of Search: 705/37
• US Class Current: 705/37
• CPC Class Codes: G06F 40/18 of spreadsheets form-filling G06F40/174
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A trading interface is provided for displaying market data related to a tradeable object being traded at an electronic exchange. According to one example embodiment, market data related to a tradeable object is displayed in relation to a value axis, such as a price axis. As new market data is received, the displayed market data is updated and may be repositioned so that a trader can view current market conditions in a viewable portion of the interface. The interface also includes a number of market movement indicators that assist a trader in tracking market movement. These viewable references allow a trader to navigate and immediately understand the “real” direction of the market activity despite any underlying adjustment of the viewable area of the trading interface.

Claims

1. A method for displaying market data on a video display comprising:

receiving a market data feed from an electronic exchange via a processor associated with a trading device, the market data feed including streaming market updates identifying at least a current inside market for a tradeable object defined by a current best bid price and a current best ask price available for the tradeable object;

displaying a first indicator and a second indicator, the first indicator representing the current best bid price available for the tradeable object at a first location corresponding to a first price level along a price axis, and the second indicator representing the current best ask price available for the tradeable object at a second location corresponding to a second price level along the price axis;

in response to receiving the market data feed, storing the current inside market for the tradeable object in an order book for the tradeable object, where the current best bid price replaces a most previous best bid price from the market data feed in the order book and the current best ask price replaces a most previous best ask price from the market data feed in the order book;

storing the most previous best bid price with stored previous best bid prices for the tradeable object and the most previous best ask bid price with stored previous best ask prices for the tradeable object;

comparing the current best bid price available for the tradeable object to a previous best ask price of the stored previous best ask prices for the tradeable object to detect a first time the current best bid price exceeds the previous best ask price of the stored previous best ask prices for the tradeable object;

in response to comparing the current best bid price available for the tradeable object to the previous best ask price of the stored previous best ask prices, recording the first time; and

in response to recording the first time, displaying a first upward market cross indicator at a third price level along the price axis corresponding to the current best bid price at the first time.

2. The method of claim 1, wherein the price axis is displayed on a graphical user interface in a window, and wherein the price axis is oriented vertically, horizontally, or at an angle in the window.

3. The method of claim 1, further comprising:

upon receiving an update in the market data feed from the electronic exchange, adjusting a view of the displayed market data such that the first and second indicators are maintained in a viewable area of the video display.

4. The method of claim 3, where the market updates identify a plurality of bids for the tradeable object outside of the current inside market the method further comprising:

displaying a plurality of bid indicators, each of the plurality of bid indicators associated with at least one the plurality of bids and being displayed at one of a first plurality of locations of the price axis corresponding to a bid price of the associated bid, wherein the plurality of bid indicators are repositioned to a second plurality of locations upon adjusting the view of the displayed market data.

5. The method of claim 3, where the market updates identify a plurality of asks for the tradeable object outside of the current inside market, the method further comprising:

displaying a plurality of ask indicators each of the plurality of ask indicators associated with at least one of the plurality of asks and being displayed at one of a first plurality of locations of the price axis corresponding to an ask price of the associated ask, wherein the plurality of ask indicators are repositioned to a second plurality of locations upon adjusting the view of the displayed market data.

6. The method of claim 1, wherein the first upward market cross indicator comprises a graphical indicator.

7. The method of claim 6, wherein the graphical indicator comprises color-coding the third price level associated with the first upward market cross indicator.

8. The method of claim 1, further comprising:

comparing another current best bid price identified by the streaming market updates of the market data feed to another previous best ask price of the stored previous best ask prices for the tradeable object to detect a second time the another current best bid price exceeds the another previous best ask price of the stored previous best ask prices for the tradeable object;

in response to comparing the another current best bid price to the another previous best ask price, recording the second time; and

displaying a second upward market cross indicator at a fourth price level along the price axis corresponding to the another current best bid price at.

9. The method of claim 1, further comprising:

comparing another current best ask price identified by the streaming market updates of the market data feed to a previous best bid price of the stored previous best bid prices for the tradeable object to detect a second time the another current best ask price is lower than or equal to the previous best bid price, the previous best bid price being associated with the first upward market cross indicator;

in response to comparing the another current best ask price to the previous best bid price, recording the second time when the another current best ask price crosses the previous best bid price, wherein the second time occurs when the another current best ask price is lower than or equal to the previous best bid price, the current best bid price being associated with the first upward market cross indicator;

erasing the first upward market cross indicator; and

displaying a first downward market cross indicator at a fourth price level along the price axis corresponding to the another current best ask price, wherein the first downward market cross indicator is displayed at the second time.

10. The method of claim 9, wherein the first downward market cross indicator comprises a graphical indicator that is different than the first upward market cross indicator to distinguish between the market crossing in the downward direction and the upward direction.

11. The method of claim 9, further comprising:

using a first color in relation to the first upward market cross indicator; and

using a second color in relation to the first downward market cross indicator.