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System and method for dynamic quantity orders in an electronic trading environment

  • US 7,668,767 B1
  • Filed: 10/01/2003
  • Issued: 02/23/2010
  • Est. Priority Date: 10/01/2003
  • Status: Active Grant
First Claim
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1. A method for dynamic quantity orders in an electronic trading environment, the method comprising:

  • receiving a dynamic quantity order by a computing device of an electronic exchange, wherein the dynamic quantity order comprises a price and a desired order quantity, wherein the dynamic quantity order is associated with an order quantity by the computing device of the electronic exchange, wherein the order quantity is initially the desired order quantity, wherein the dynamic quantity order is placed into an order queue based on the price;

    estimating by the computing device of the electronic exchange a potential order quantity at the price, wherein the potential order quantity represents an estimate of an amount of quantity that will be filled at the price;

    increasing by the computing device of the electronic exchange the order quantity to an increased order quantity based on the potential order quantity; and

    dynamically adjusting by the computing device of the electronic exchange the order quantity based on a total order quantity in the order queue at the price.

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