System and method for icon oriented representation of trading strategies

• US 7,702,568 B1
• Filed: 05/02/2006
• Issued: 04/20/2010
• Est. Priority Date: 09/22/2003
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Tanpoco, Alvin F.
• Primary Examiner(s): Kramer; James
• Assistant Examiner(s): Khattar; Rajesh
• Application Number:
  US11/415,888
• Time in Patent Office: 1,449 Days
• Field of Search: 705 35- 45
• US Class Current: 705/37
• CPC Class Codes: G06F 3/04817 using icons graphical or visual programming using iconic symbols G06F8/34
• 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 system and method for visually establishing a trading strategy are described. According to one method, a trader can position a first icon corresponding to a first order and a second icon corresponding to a second order in relation to a first value axis displayed on a graphical interface. A graphical means can also be used in relation to the icons to show that the icons correspond to a trading strategy. The graphical means can include lines, numbers, or any other user-configurable graphical representation illustrating order precedence, for example.

Claims

1. A method for visually establishing a trading strategy for a tradeable object, comprising:

displaying in a first region of a graphical user interface on a client device, a first value axis having a first plurality of value levels for buy and sell orders, each value level being associated with a price of a first tradeable object traded at a first electronic exchange;

displaying in a second region of the graphical user interface, a second value axis having a second plurality of value levels for buy and sell orders, each value level being associated with a price of a second tradeable object traded at a second electronic exchange and being different than the first tradeable object;

selecting a first subset of icons from an icon library having a plurality of icons including different types of execution icons graphically representing different order types available at different exchanges, where each of the plurality of icons is pre-populated with parameters for the type of order represented, where the first subset of icons is selected based on types of orders available at the first electronic exchange, where each icon of the first subset of icons graphically represents a corresponding type of order available at the first electronic exchange and is pre-populated with parameters defining the corresponding type of order available at the first electronic exchange;

selecting a second subset of icons from the icon library based on types of orders available at the second electronic exchange, where each icon of the second subset of icons graphically represents a corresponding type of order available at the second electronic exchange and is pre-populated with parameters defining the corresponding type of order available at the second electronic exchange;

generating a first tool bar for the first subset of icons and second toolbar for the second subset of icons;

displaying the first toolbar and the second toolbar on the graphical user interface;

receiving a first user-initiated command via a first input of the client device, the first user-initiated command selecting a first order icon from the first toolbar, creating a trading strategy for a plurality of orders including a first order for the first tradeable object and moving the first order icon to a first location relative to the first value axis, the first location identifying a first price for the first order for the first tradeable object;

in response to receiving the first user-initiated command, displaying the first order icon at the first location, the first order icon graphically representing a state of the first order based on market data from the first electronic exchange related to the first order;

submitting the first order to the electronic exchange according to at least one pre-set condition associated with the first order for determining when the first order is sent to the electronic exchange;

receiving a second user-initiated command via a second input of the client device, the second user-initiated command selecting a second order icon from the second toolbar, identifying a second order for the second tradeable object with the trading strategy and moving the second order icon to a second location relative to the second value axis, the second location identifying a second price for the second order for the second tradeable object;

in response to receiving the second user-initiated command, displaying the second order icon at the second location, the second order icon graphically representing a state of the second order based on market data from the second electronic exchange related to the second order;

submitting the second order to the electronic exchange according to at least the state of the first order; and

displaying a graphical indicator between the first order icon and the second order icon showing a linking of the first order to the second order.

2. The method of claim 1, where the first value axis comprises a first range of values derived from prices of the first tradeable, and the second value axis comprises a second range of values derived from prices of the second tradeable object.

3. The method of claim 2 where the first range of values comprises a range of prices for the first tradeable object, and the second range of values comprises a range of prices for the second tradeable object.

4. The method of claim 1 where the first order icon graphically represents the state of the first order according to a plurality of colors, each defining a state of an order.

5. The method of claim 1 where the graphic indicator represents an execution precedence between the first order and the second order.

6. The method of claim 1 where the at least one pre-set condition comprises any of market conditions for the first tradeable object, execution of other orders for the first tradeable object, trader-related events, exchange related event, and combinations thereof.

7. The method of claim 1 where the at least one pre-set condition associated with the first order comprises detecting a predetermined user input to send the first order to the electronic exchange.

8. The method of claim 1 where the at least one pre-set condition associated with the first order comprises detecting a predetermined price level of the first tradeable object.

9. The method of claim 1 where the at least one pre-set condition associated with the first order comprises detecting a predetermined price level of another tradeable object.

10. The method of claim 9 where the another tradeable object comprises the second tradeable object.

11. The method of claim 1 where submitting the second order comprises detecting at least at least a partial fill of the first order.

12. The method of claim 1 where tradeable objects listed at the first electronic exchange are different than tradeable objects listed at the second electronic exchange.

13. A computer readable medium having instructions stored thereon, which when executed by a processor cause the processor to carry out a method comprising:

displaying in a first region of a graphical user interface on a client device, a first value axis having a first plurality of value levels for buy and sell orders, each value level being associated with a price of a first tradeable object traded at a first electronic exchange;

displaying in a second region of the graphical user interface, a second value axis having a second plurality of value levels for buy and sell orders, each value level being associated with a price of a second tradeable object traded at a second electronic exchange and being different than the first tradeable object;

selecting a first subset of icons from an icon library having a plurality of icons including different types of execution icons graphically representing different order types available at different exchanges, where each of the plurality of icons is pre-populated with parameters for the type of order, where the first subset of icons is selected based on types of orders available at the first electronic exchange, where each icon of the first subset of icons graphically represents a corresponding type of order available at the first electronic exchange and is pre-populated with parameters defining the corresponding type of order available at the first electronic exchange;

selecting a second subset of icons from the icon library based on types of orders available at the second electronic exchange, where each icon of the second subset of icons graphically represents a corresponding type of order available at the second electronic exchange and is pre-populated with parameters defining the corresponding type of order available at the second electronic exchange;

generating a first tool bar for the first subset of icons and second toolbar for the second subset of icons;

displaying the first toolbar and the second toolbar on the graphical user interface;

receiving a first user-initiated command via a first input of the client device, the first user-initiated command selecting a first order icon from the first toolbar, creating a trading strategy for a plurality of orders including the a first order for the first tradeable object and moving the first order icon to a first location relative to the first value axis, the first location identifying a first price for the first order for the first tradeable object;

in response to receiving the first user-initiated command, displaying the first order icon at the first location, the first order icon graphically representing a state of the first order based on market data from the first electronic exchange related to the first order;

submitting the first order to the electronic exchange according to at least one pre-set condition associated with the first order for determining when the first order is sent to the electronic exchange;

receiving a second user-initiated command via a second input of the client device, the second user-initiated command selecting a second order icon from the second toolbar, identifying a second order for the second tradeable object with the trading strategy and moving the second order icon to a second location relative to the second value axis, the second location identifying a second price for the second order for the second tradeable object;

in response to receiving the second user-initiated command, displaying the second order icon at the second location, the second order icon graphically representing a state of the second order based on market data from the second electronic exchange related to the second order;

submitting the second order to the second electronic exchange according to at least the state of the first order; and

displaying a graphical indicator between the first order icon and the second order icon showing a linking of the first order to the second order.

14. The method of claim 13 where the first value axis comprises a first range of values derived from prices of the first tradeable, and the second value axis comprises a second range of values derived from prices of the second tradeable object.

15. The method of claim 14 where the first range of values comprises a range of prices for the first tradeable object, and second the range of values comprises a range of prices for the second tradeable object.

16. The method of claim 13 where the at least one pre-set condition comprises any of market conditions for the first tradeable object, execution of other orders for the first tradeable object, trader-related events, exchange related event, and combinations thereof.

17. The method of claim 13 where the at least one pre-set condition associated with the first order comprises detecting a predetermined user input to send the first order to the electronic exchange.

18. The method of claim 13 where the at least one pre-set condition associated with the first order comprises detecting a predetermined price level of the first tradeable object.

19. The method of claim 13 where the at least one pre-set condition associated with the first order comprises detecting a predetermined price level of another tradeable object.

20. The method of claim 19 where the another tradeable object comprises the second tradeable object.

21. The method of claim 13 where submitting the second order comprises detecting at least at least a partial fill of the first order.

22. The method of claim 13 where tradeable objects listed at the first electronic exchange are different that tradeable objects listed at the second electronic exchange.

23. A method for visually establishing a trading strategy for a tradeable object, comprising:

in response to a communication with the first exchange;

displaying in a first region of a graphical user interface on a client device, a first price axis having a first plurality of price levels for buy and sell orders for a first tradeable object traded at a first electronic exchange,

selecting a first subset of icons from an icon library having a plurality of icons including different types of execution icons graphically representing different order types available at different exchanges, where each of the plurality of icons is pre-populated with parameters for the type of order, where the first subset of icons is selected based on types of orders available at the first electronic exchange, where each icon of the first subset of icons graphically represents a corresponding type of order available at the first electronic exchange,

generating a first tool bar for the first subset of icons, and

displaying the first toolbar on the graphical user interface,

in response to a communication with the second exchange;

displaying in a second region of the graphical user interface, a second price axis having a second plurality of price levels for buy and sell orders for a second tradeable object traded at a second electronic exchange, where the second tradeable object is different than the first tradeable object and the second region is aligned with the first region,

selecting a second subset of icons from the icon library based on types of orders available at the second electronic exchange, where each icon of the second subset of icons graphically represents a corresponding type of order available at the second electronic exchange,

generating a second toolbar for the second subset of icons, and

displaying the second toolbar on the graphical user interface;

in response to receiving a first user-initiated command via a first input of the client device;

selecting a first order icon from the first toolbar and moving the first order icon to a first location relative to the first value axis, the first location identifying a first price for an order for the first tradeable object,

creating a trading strategy for a plurality of orders including a first order for the first tradeable object,

displaying the first order icon at the first location, the first order icon graphically representing a state of a first order based on market data from the first electronic exchange related to the first order, and

submitting the first order to the electronic exchange according to at least one pre-set condition associated with the first order for determining when the first order is sent to the electronic exchange;

in response to receiving a second user-initiated command via a second input of the client device;

selecting a second order icon from the second toolbar and moving the second order icon to a second location relative to the second value axis, the second location identifying a second price for a second order for the second tradeable object,

identifying the second order for the second tradeable object with the trading strategy, and

displaying the second order icon at the second location, the second order icon graphically representing a state of the second order based on market data from the second electronic exchange related to the second order;

submitting the second order to the second electronic exchange according to at least the state of the first order; and

displaying a graphical indicator between the first order icon and the second order icon showing a linking of the first order to the second order.

24. The method of claim 23 where the at least one pre-set condition comprises any of market conditions for the first tradeable object, execution of other orders for the first tradeable object, trader-related events, exchange related event, and combinations thereof.

25. The method of claim 23 where the at least one pre-set condition associated with the first order comprises detecting a predetermined user input to send the first order to the electronic exchange.

26. The method of claim 23 where the communication with the first electronic exchange comprises logging onto the first electronic exchange and the communication with the second electronic exchange comprises logging into the second electronic exchange.