System and method for displaying highest and lowest traded prices of tradable objects

• US 7,756,775 B1
• Filed: 05/01/2006
• Issued: 07/13/2010
• Est. Priority Date: 09/30/2002
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Singer, Scott, Kemp, Gary Allan II, Ebersole, Joan
• Primary Examiner(s): Kazimi; Hani
• Assistant Examiner(s): Liu; Chia-Yi
• Application Number:
  US11/415,410
• Time in Patent Office: 1,534 Days
• Field of Search: 705 35- 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 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A client terminal displays on a graphical interface a first indicator of a price associated with a lowest traded price of a tradable object during a predetermined period of time, a second indicator of a price associated with a highest traded price of the tradable object during the predetermined period of time, along with at least one quantity indicator associated with at least one order to buy/order the tradable object. The first indicator, the second indicator, and the at least one quantity indicator are displayed in relation to a static axis of price, and the client terminal dynamically updates the first and second indicator to new lowest and highest traded prices based on market updates received from an exchange.

Claims

1. A method of displaying market information relating to a tradable object, the method comprising:

receiving streaming market data from an exchange via a computing device, the market data identifying current orders for a tradable object including a current highest bid price, a current lowest ask price, and a last traded price for the tradable object;

assigning the last traded price via the computing device during a predetermined period of time to a lowest traded price when the last traded price is less than a previous lowest traded price for the tradable object;

assigning the last traded price via the computing device during the predetermined period of time to a highest traded price when the last traded price is greater than a previous highest traded price for the tradable object;

displaying a static axis of prices having a plurality of price levels each associated with a price of the tradable object, the static axis of prices being displayed via a display associated with the computing device;

dynamically displaying a quantity indicator associated with at least one order of the tradable object via the display, the quantity indicator being displayed along the static axis of prices at a quantity indicator location associated with a price level corresponding to a price for the at least one order, the quantity indicator location being updatable in response to the streaming market data;

dynamically displaying a first indicator via the display, the first indicator for the lowest traded price of the tradable object during the predetermined period of time at a first indicator location along the static axis of prices associated with a price level corresponding to the lowest traded price of the tradable object during the predetermined period of time, the location of the first indicator location being updatable in response to the streaming market data; and

dynamically displaying a second indicator via the display, the second indicator for the highest traded price of the tradable object during the predetermined period of time at a second indicator location along the static axis of prices associated with a price level corresponding to the highest traded price of the tradable object during the predetermined period of time, the second indicator location being updatable in response to the streaming market data.

2. The method of claim 1, wherein the quantity indicator represents a current bid quantity associated with at least one order to buy the tradable object.

3. The method of claim 1, wherein the quantity indicator represents a current ask quantity associated with at least one order to sell the tradable object.

4. The method of claim 1, wherein the quantity indicator is a number that represents either a current bid quantity or a current ask quantity.

5. The method of claim 1, wherein the price levels are movable with respect to the displayed axis of prices in response to a repositioning command.

6. The method of claim 1, further comprising:

receiving a repositioning command to re-center the quantity indicator along the static axis of prices; and

responsive to the repositioning command, repositioning the price levels of the static axis of prices so that the quantity indicator is substantially centered with respect to the static axis of prices.

7. The method of claim 1, further comprising:

receiving a command to scroll the static axis of prices; and

adjusting the static axis of prices responsive to the command to scroll.

8. The method of claim 1, further comprising:

dynamically displaying a highest bid indicator at a first location of a plurality of locations along the static axis of prices, the highest bid indicator associated with the current highest bid price, wherein the highest bid indicator moves relative to the static axis of prices to reflect a new current bid price; and

dynamically displaying a lowest ask indicator at a second location of the plurality of locations along the static axis of prices, the lowest ask indicator associated with the current lowest ask price, wherein the lowest ask indicator moves relative to the static axis of prices to reflect a new current ask price.

9. The method of claim 1, further comprising:

displaying an order entry region in alignment with the static axis of prices, wherein the order entry region comprises a plurality of locations for receiving commands to send orders to an electronic exchange, and wherein each location corresponds to a price level along the static axis of prices.

10. The method of claim 1, further comprising:

when a new last traded price is lower than the lowest traded price of the tradable object during the predetermined period of time, moving the first indicator along the static axis of prices to a price level corresponding to the new last traded price to reflect a new lowest traded price; and

when the new last traded price is higher than the highest traded price of the tradable object during the predetermined period of time, moving the second indicator along the static axis of prices to a price level corresponding to the new last traded price to reflect a new highest traded price.

11. A computer readable medium having executable program code recorded thereon for execution by a processor to perform a method comprising:

receiving streaming market data from an exchange via a computing device, the market data identifying current orders for a tradable object including a current highest bid price, a current lowest ask price for the tradable object, and a last traded price;

assigning the last traded price during a predetermined period of time to a lowest traded price when the last traded price is less than a previous lowest traded price for the tradable object;

assigning the last traded price during the predetermined period of time to a highest traded price when the last traded price is greater than a previous highest traded price for the tradable object;

displaying a static axis of prices having a plurality of price levels each associated with a price of the tradable object, the static axis of prices being displayed via a display associated with the computing device;

dynamically displaying a quantity indicator associated with at least one order of the tradable object, the quantity indicator being displayed along the static axis of prices at a quantity indicator location associated with a price level corresponding to a price for the at least one order, the quantity indicator location being updatable in response to the streaming market data;

dynamically displaying a first indicator for the lowest traded price of the tradable object during the predetermined period of time at a first indicator location along the static axis of prices associated with a price level corresponding to the lowest traded price of the tradable object during the predetermined period of time, the location of the first indicator location being updatable in response to the streaming market data; and

dynamically displaying a second indicator for the highest traded price of the tradable object during the predetermined period of time at a second indicator location along the static axis of prices associated with a price level corresponding to the highest traded price of the tradable object during the predetermined period of time, the second indicator location being updatable in response to the streaming market data.

12. The computer readable medium of claim 11, where the quantity indicator comprises a current bid quantity for at least one buy order for the tradable object.

13. The computer readable medium of claim 11, where the quantity indicator comprises a current ask quantity for at least one sell order for the tradable object.

14. The computer readable medium of claim 11, where the quantity indicator comprises a number.

15. The computer readable medium of claim 11, where the price levels are movable with respect to the displayed axis of prices in response to a repositioning command.

16. The computer readable medium of claim 11, further comprising repositioning the price levels with respect to the static axis of prices in response to a repositioning command.

17. The computer readable medium of claim 11, further comprising:

displaying a highest bid indicator along the static axis of prices at a highest bid location associated with a price level corresponding to the highest bid price, where the highest bid location is movable relative to the static axis of prices based on the market information; and

displaying a lowest ask indicator along the static axis of prices at a lowest ask location associated with a price level corresponding to the current lowest ask price, where the lowest ask location is movable relative to the static axis of prices based on the market information.

18. The computer readable medium of claim 11, further comprising:

displaying an order entry region aligned with the static axis of prices, the order entry region having locations responsive to commands to send orders to an electronic exchange, each location corresponding to at least one price level.

19. The computer readable medium of claim 11, further comprising:

moving the first indicator to a price level of the static axis of prices corresponding to the last traded price in response to the last traded price being less than the lowest traded price of the tradable object during the predetermined period of time; and

moving the second indicator to a price level of the static axis of prices corresponding to the last traded price in response to the last traded price being greater than the highest traded price of the tradable object during the predetermined period of time.

20. A system for electronic trading, comprising:

a market data receiver configured to receive streaming market data from an exchange via a computing device, the market data identifying current orders for a tradable object including a current highest bid price, a current lowest ask price for the tradable object, and a last traded price;

a monitor configured to monitor the last traded price for the tradable object during a predetermined period of time to identify a lowest traded price for the tradable object and a highest traded price for the tradable object during a predetermined period of time;

a static axis display configured to display a static axis of prices having a plurality of price levels each associated with a price of the tradable object for at least a portion of the predetermined period of time, the static axis of prices being displayed via a display associated with the computing device;

a quantity indicator display configured to dynamically display a quantity indicator associated with at least one order of the tradable object, the quantity indicator being displayed along the static axis of prices at a quantity indicator location associated with a price level corresponding to a price for the at least one order, the quantity indicator location being updatable in response to the streaming market data;

a first indicator display configured to dynamically display a first indicator for the lowest traded price of the tradable object during the predetermined period of time at a first indicator location along the static axis of prices associated with a price level corresponding to the lowest traded price of the tradable object during the predetermined period of time, the location of the first indicator location being updatable in response to the streaming market data; and

a second indicator display configured to dynamically display a second indicator for the highest traded price of the tradable object during the predetermined period of time at a second indicator location along the static axis of prices associated with a price level corresponding to the highest traded price of the tradable object during the predetermined period of time, the second indicator location being updatable in response to the streaming market data.