System and method for money management in electronic trading environment
First Claim
1. A method for managing electronic trades for a tradeable object, comprising:
- receiving a request to submit an order to buy or sell a quantity of a tradeable object at a price to an electronic exchange via a user input device associated with a computing device;
responsive to the request and prior to sending the order to the electronic exchange, monitoring the order via the computing device to determine whether a user-defined money management filter corresponding to the order matches the order, the user-defined money management filter having a user-defined filter condition for modifying an order parameter of the order;
identifying a match between the money management filter and the order via the computing device;
in response to identifying, modifying, via the computing device, the order parameter of the order according to the filter condition of the money management filter, the order parameter of the order being modified to a modified order quantity; and
sending the order with the modified order quantity at the price to the electronic exchange, via the computing device.
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Accused Products
Abstract
A system and method for money management in an electronic trading environment are presented. According to one embodiment, a trader may configure a plurality of filters, each including at least one filter criteria and filter condition. When a money management module detects a new order, the money management module intercepts the order and determines if the order matches one or more predefined filters. If the order matches one or more filters then conditions associated with the applicable filter(s) are applied to the order. The application of one or more conditions to an order may result in sending a modified order, preventing the order from reaching the exchange, or sending order to the exchange without any modifications.
65 Citations
19 Claims
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1. A method for managing electronic trades for a tradeable object, comprising:
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receiving a request to submit an order to buy or sell a quantity of a tradeable object at a price to an electronic exchange via a user input device associated with a computing device; responsive to the request and prior to sending the order to the electronic exchange, monitoring the order via the computing device to determine whether a user-defined money management filter corresponding to the order matches the order, the user-defined money management filter having a user-defined filter condition for modifying an order parameter of the order; identifying a match between the money management filter and the order via the computing device; in response to identifying, modifying, via the computing device, the order parameter of the order according to the filter condition of the money management filter, the order parameter of the order being modified to a modified order quantity; and sending the order with the modified order quantity at the price to the electronic exchange, via the computing device. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer readable medium having instructions stored thereon executable by a processor for carrying out acts comprising:
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receiving a request to submit an order to buy or sell a quantity of a tradeable object at a price to an electronic exchange via a user input device associated with a computing device; responsive to the command and prior to sending the order to electronic exchange, monitoring the order via the computing device to determine whether a user-defined money management filter corresponding to the order matches the order, the user-defined money management filter having a user-defined filter condition for modifying an order parameter of the order; identifying a match between the money management filter and the order via the computing device; in response to identifying, modifying, via the computing device, the order parameter of the order according to the filter condition of the money management filter, the order parameter of the order being modified to a modified order quantity; and sending the order with the modified order quantity at the price to the electronic exchange, via the computing device. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19)
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Specification