User interface for semi-fungible trading

• US 7,680,723 B2
• Filed: 05/03/2006
• Issued: 03/16/2010
• Est. Priority Date: 04/09/1999
• Status: Expired due to Fees

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Klizas, Mark C., Friesen, Richard W.
• Primary Examiner(s): PATEL, JAGDISH
• Application Number:
  US11/417,515
• Publication Number:
  US 20060265315A1
• Time in Patent Office: 1,413 Days
• Field of Search: 705/37, 705/36, 705/35
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• 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 user interface and method are disclosed for providing trading between a plurality of semi-fungible and non-fungible goods. A plurality of book axes are displayed in a single interface, each book axis representing a market for a particular good. Orders for goods are displayed as marks on the axes to display the relative value of the orders. A value axis is provided that relates the value of the goods from each market to each other. Thus, a single interface provides the means to relate the values of different semi-fungible goods. The value axis may be displayed in units of price, or a custom value designated by a user or pre-defined by the interface. Quantity information is represented in the interface through the display of a dimension of an order icon. Precise information about each order is displayed either in a panel view or a pop-up window.

Claims

1. A method of providing an interface to an electronic trading system in which a good is bought and sold responsive to orders placed by users of the electronic trading system, where orders comprise a bid type or an offer type, the method comprising:

receiving a first market data feed corresponding to a first good at a computing device having a processor, the first market data feed comprising a highest bid price and a lowest ask price for the first good;

receiving a second market data feed corresponding to a second good at the computing device, the second market data feed comprising a highest bid price and a lowest ask price for the second good;

generating a first book axis for the first good according to the first market data feed via the computing device, the first book axis comprising a first indicator representing the highest bid price for the first good and a second indicator representing the lowest ask price for the first good;

generating a second book axis for the second good according to the second market data feed via the computing device, the second book axis comprising a third indicator representing the highest bid price for the second good and a fourth indicator representing the lowest ask price for the second good, the first book axis and the second book axis being normalized according to a first unit common to the first good and the second good;

displaying at least a portion of the first book axis via an interface, the at least a portion of the first book axis including the first indicator and the second indicator, the first indicator and the second indicator being updatable according to the first market data feed;

displaying at least a portion of the second book axis adjacent to the first book axis via the interface, the at least a portion of the second book axis including the third indicator and the fourth indicator, the third indicator and the fourth indicator being updatable according to the second market data feed;

generating an action line according to a value of a second unit via the computing device;

displaying the action line via the interface in relation to the first book axis and the second book axis;

adjusting the action line via the computing device in relation to the first book axis and the second book axis, where the action line ascends or descends the first and second book axes via the interface responsive to the value of the second unit;

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting a value of an order for any one of the first good and the second good according to a user-selected location of any one of the first book axis and the second book axis; and

in response to the user-initiated command, generating and submitting the order on behalf of a user via the computing device.

2. The method of claim 1 wherein when the first unit and the second unit are the same, the action line represents a straight line across the first and second book axes.

3. The method of claim 2 wherein the first and second units are price.

4. The method of claim 1 wherein when the first and second units are different, the action line represents a line at a first position relative to the first axis and a line at a second position relative to the second axis.

5. The method of claim 4 wherein the first unit is price and the second unit is implied volatility.

6. The method of claim 1 further comprising receiving the value directly from a user input.

7. The method of claim 1 further comprising receiving the value according to an output of a user specified algorithm.

8. The method of claim 1 wherein the first good and the second good are semi-fungible.

9. The method of claim 1 where receiving a user-initiated command further comprises dropping an order indicator onto the first book axis at a desired price associated with the user-selected location.

10. The method of claim 1 where receiving a user-initiated command farther comprises dropping an order indicator onto the second book axis at a desired price associated with the user-selected location.

11. The method of claim 1 further comprising providing a more detailed view of one of the first or second book axes.

12. The method of claim 11 further comprising displaying in the more detailed view an entered order indicator representing a working order of the user of the interface for the first or second good.

13. The method of claim 12 further comprising graphically distinguishing the entered order indicator from other users'"'"' orders for the first or second good.

14. The method of claim 12 further comprising receiving a command to select the entered order indicator to modify parameters of the working order.

15. The method of claim 12 further comprising receiving a command to select the entered order indicator to cancel the working order.

16. The method of claim 1 wherein the first book axis further comprises additional indicators representing order quantities associated with prices other than the highest bid price and the lowest ask price for the first good.

17. The method of claim 1 wherein the second book axis further comprises additional indicators representing order quantities associated with prices other than the highest bid price and the lowest ask for the second good.

18. The method of claim 1 wherein the first, second, third, and fourth indicators have a size that corresponds to the order quantity that each indicator represents.

19. A method of providing an interface to an electronic trading system in which a good is bought and sold responsive to orders placed by users of the electronic trading system, where orders comprise a bid type or an offer type, the method comprising:

receiving a first market data feed corresponding to a first good at a computing device having a processor, the first market data feed comprising a highest bid price and a lowest ask price for the first good;

receiving a second market data feed corresponding to a second good at the computing device, the second market data feed comprising a highest bid price and a lowest ask price for the second good;

generating a first book axis for the first good according to the first market data feed via the computing device, the first book axis comprising a first indicator representing the highest bid price for the first good and a second indicator representing the lowest ask price for the first good;

generating a second book axis for the second good according to the second market data feed via the computing device, the second book axis comprising a third indicator representing the highest bid price for the second good and a fourth indicator representing the lowest ask price for the second good, the first book axis and the second book axis being normalized according to a first unit common to the first good and the second good;

displaying at least a portion of the first book axis via an interface, the at least a portion of the first book axis including the first indicator and the second indicator, the first and second indicators being updatable according to the first market data feed;

displaying at least a portion of the second book axis adjacent to the first book axis via the interface, the at least a portion of the second book axis including the third indicator and the fourth indicator, the third and fourth indicators being updatable according to the second market data feed;

adjusting the at least a portion of the first book axis via the computing device to highlight the first axis in response to an order placed for the first good;

adjusting the at least a portion of the second book axis via the computing device to highlight the second axis in response to an order placed for the second good;

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting a value of an order for any one of the first good and the second good according to a user-selected location of any one of the first book axis and the second book axis,

the user-selected location identifying a price for an order for any one of the first good and the second good; and

in response to the user-initiated command, generating and submitting the order on behalf of a user via the computing device.

20. A method of providing an interface to an electronic trading system in which a good is bought and sold, the method comprising:

receiving a first market data feed corresponding to a first good at a computing device having a processor, the first market data feed comprising a highest bid price and a lowest ask price for the first good;

receiving a second market data feed corresponding to a second good at the computing device, the second market data feed comprising a highest bid price and a lowest ask price for the second good;

generating a first book axis for the first good according to the first market data feed via the computing device, the first book axis comprising a first indicator representing the highest bid price for the first good and a second indicator representing with the lowest ask price for the first good;

generating a second book axis for the second good according to the second market data feed via the computing device, the second book axis comprising a third indicator representing the highest bid price for the second good and a fourth indicator representing the lowest ask price for the second good;

displaying at least a portion of the first book axis via an interface, the at least a portion of the first book axis including the first indicator and the second indicator, the first and second indicators being updatable according to the first market data feed;

displaying at least a portion of the second book axis adjacent to the first book axis via the interface, the at least a portion of the second book axis including the third indicator and the fourth indicator, the third and fourth indicators being updatable according to the second market data feed;

generating a first action line and a second action line via the computing device according to a value of a unit;

displaying the first action line via the interface in relation to the first book axis;

displaying the second action line via the interface in relation to the second book axis;

adjusting the first action line via the computing device in relation to the first book axis and the second action line via the computing device in relation to the second book axis, where the first and second action lines ascend or descend the respective first and second book axes responsive to the value of a unit;

receiving a user-initiated command via an input device of the computing device, the user-initiated command selecting a value of an order for any one of the first good and the second good according to a user-selected location of any one of the first book axis and the second book axis; and

in response to the user-initiated command, generating and submitting the order on behalf of a user via the computing device.