Trade order system and method

• US 7,636,685 B1
• Filed: 05/31/2003
• Issued: 12/22/2009
• Est. Priority Date: 05/31/2003
• Status: Expired due to Fees

• Current Assignee: Peter Ebert
• Original Assignee: Peter Ebert
• Inventors: Ebert, Peter
• Primary Examiner(s): Poinvil; Frantzy
• Assistant Examiner(s): GRAHAM, CLEMENT B
• Application Number:
  US10/449,339
• Time in Patent Office: 2,397 Days
• Field of Search: 705 32- 38
• 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 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and method, including computer program products, that enables its users and service providers to contribute, share, apply, and benefit from intellectual property, services or information related to the trading of tangible or intangible commodities or services of any sort.

Claims

1. A method in a trade condition exchange, comprising:

receiving, from a publishing user device via a computer network, a specification of trade logic that specifies at least one condition relating to one or more symbol identifiers, wherein satisfaction of said at least one condition in said trade logic would trigger an execution of a trade order;

associating a specification of processing with said trade logic, said processing specification including a popularity parameter that indicates a popularity of said trade logic related to other trade logic specifications, a secret parameter that indicates whether said trade logic can be read by other users of the trade condition exchange, and a publishing parameter that specifies an aspect of publishing said trade logic on the trade condition exchange; and

transmitting trade order exchange information to a trading user device via a computer network, said trade order exchange information enabling a user interface at said trading user device to access a plurality of specifications of trade logic, said plurality of specifications including said trade logic received from said publishing user, wherein each of said plurality of specifications of trade logic are individually selectable by said trading user in creating a trade order, said user interface giving said trading user access to an indication reflective of a popularity of each of said plurality of specifications of trade logic.

2. The method of claim 1, wherein said receiving comprises receiving a trading rule set, said trading rule set including an identification of a plurality of trading rules.

3. The method of claim 1, wherein said receiving comprises receiving a trading rule set, said trading rule set including an identification of a plurality of nested trading rule sets.

4. The method of claim 1, wherein said popularity parameter is a numerical value.

5. The method of claim 1, wherein said popularity parameter is based on a number of users different from said publishing user that have used said trade logic as part of a trade order.

6. The method of claim 1, wherein said secret parameter is a boolean value.

7. The method of claim 6, further comprising limiting access to said trade logic to said other users if said secret parameter is true.

8. The method of claim 6, further comprising enabling access to said trade logic to other users that are distinct from said publishing user if said secret parameter is false.

9. The method of claim 1, wherein said secret parameter contains a list of users that are allowed to read or edit said trade logic.

10. The method of claim 1, wherein said publishing parameter identifies a subscribing group of users that are given access to said trade logic.

11. The method of claim 1, wherein said publishing parameter identifies an expiration date of said trade logic.

12. A method in a trade condition exchange, comprising:

receiving, from a publishing user device via a computer network, a specification of trade logic that specifies at least one condition relating to one or more symbol identifiers, said trade logic having associated therewith a sharing parameter that indicates that other users have access to said trade logic, wherein satisfaction of said at least one condition in said trade logic would trigger an execution of a trade order;

transmitting trade order exchange information to a subscribing user device via a computer network, said trade order exchange information enabling a user interface at said subscribing user device to display an offer to select from a plurality of specifications of trade logic, each of said plurality of specifications of trade logic being individually capable of forming a basis for execution of a trade order;

receiving, from said subscribing user device via a computer network, a request to use one of said plurality of specifications of trade logic in a trade order created by said subscribing user; and

initiating a payment of a usage fee to a publishing user that published said selected specification of trade logic, said usage fee being based on said use of said selected specification of trade logic by said subscribing user.

13. The method of claim 12, wherein an amount of said usage fee is based on a popularity of said trade logic amongst a group of users in the trade condition exchange.

14. The method of claim 12, wherein an amount of said usage fee is based on a determined processing requirement of said trade logic.

15. The method of claim 12, wherein said initiating comprises initiating a payment after said trade order is executed.

16. The method of claim 12, wherein said initiating comprises initiating a payment after said trade logic is subscribed to.

17. A method in a trade condition exchange, comprising:

receiving, from a first publishing user device via a computer network, a first specification of trade logic that specifies at least a first condition relating to one or more symbol identifiers, wherein satisfaction of said at least a first condition in said first specification of trade logic would trigger an execution of a trade order;

receiving, from a second publishing user device via a computer network, a second specification of trade logic that specifies at least a second condition relating to one or more symbol identifiers, wherein satisfaction of said at least second condition in said second specification of trade logic would trigger an execution of a trade order;

determining a usage fee for said first and second specifications of trade logic;

transmitting, to a subscribing user device via a computer network, information that enables a user interface at said subscribing user device to display an offer for said subscribing user to alternately select said first specification of trade logic or said second specification of trade logic, said offer giving said subscribing user access to said determined usage fees for said first and second specifications of trade logic;

receiving, from said subscribing user device via a computer network, a request to use a selected one of either said first specification of trade logic and said second specification of trade logic in a trade order created by said subscribing user; and

initiating a payment of said determined usage fee for said selected specification of trade logic to the publishing user that published said selected specification of trade logic based on said use of said selected specification of trade logic by said subscribing user in said subscribing user trade order.

18. The method of claim 17, wherein an amount of said usage fee is based on a popularity of said selected specification of trade logic amongst a group of users in the trade condition exchange.

19. The method of claim 17, wherein an amount of said usage fee is based on a determined processing requirement of said selected specification of trade logic.

20. The method of claim 17, wherein said initiating comprises initiating a payment after said subscribing user trade order is executed.

21. The method of claim 17, wherein said initiating comprises initiating a payment after said selected specification of trade logic is subscribed to.

22. The method of claim 17, wherein said initiating comprises initiating a payment even if said subscribing user trade order is not executed.