Graphical user interface to facilitate rapid and reliable electronic trading assessment and execution
First Claim
1. A method for placing an order for a financial instrument on an electronic exchange using a computer-implemented graphical user interface that includes a display screen and a user input device that allows the user to interact with the display screen, comprising:
- dynamically displaying by a computer a market depth of the financial instrument including;
a dynamic display of bids in the market for the financial instrument,a dynamic display of asks in the market for the financial instrument, anda dynamic display of prices in the market for the financial instrument, wherein the dynamic price display is interposed between or adjacent to one of the dynamic bid display and the dynamic ask display;
moving information by the computer within each of the dynamic displays with changes in the market for the financial instrument;
selecting by the user input device to select a region of one of the dynamic displays, the selected region including a bid volume or an ask volume and a corresponding price, the computer temporarily freezing movement of the selected region of the dynamic displays as long as the selected region remains selected, even though a market change causes the computer to move unselected portions of the dynamic displays; and
entering by the user device to enter an order for the financial instrument at a price displayed in or associated with the selected region, the computer providing the entered order for transmission to the electronic exchange.
1 Assignment
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Accused Products
Abstract
An electronic trading user interface allows a trader to react to market conditions very quickly in order to give the trader an improved probability of trading at a desired price and volume. The electronic order process is made faster, more efficient, and more reliable. The construction and sending of orders may be performed using a simple “click” of a mouse or other input device. The current market data is presented dynamically and in a user-friendly way to allow a trader to quickly assess the current market situation, including the trader'"'"'s own orders, and to send orders quickly and reliably. Different embodiments are presented that ensure that the trader sends the order at the price intended, which is particularly desirable when the market is moving simultaneously or very close in time with when the trader is selecting and placing an order.
40 Citations
25 Claims
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1. A method for placing an order for a financial instrument on an electronic exchange using a computer-implemented graphical user interface that includes a display screen and a user input device that allows the user to interact with the display screen, comprising:
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dynamically displaying by a computer a market depth of the financial instrument including; a dynamic display of bids in the market for the financial instrument, a dynamic display of asks in the market for the financial instrument, and a dynamic display of prices in the market for the financial instrument, wherein the dynamic price display is interposed between or adjacent to one of the dynamic bid display and the dynamic ask display; moving information by the computer within each of the dynamic displays with changes in the market for the financial instrument; selecting by the user input device to select a region of one of the dynamic displays, the selected region including a bid volume or an ask volume and a corresponding price, the computer temporarily freezing movement of the selected region of the dynamic displays as long as the selected region remains selected, even though a market change causes the computer to move unselected portions of the dynamic displays; and entering by the user device to enter an order for the financial instrument at a price displayed in or associated with the selected region, the computer providing the entered order for transmission to the electronic exchange. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer readable medium having program code recorded thereon for execution on a computer having a graphical user interface including a display screen and a user input device useable to place an order for a financial instrument on an electronic exchange, comprising:
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first program code when executed by the computer for dynamically displaying a market depth of the financial instrument including; a dynamic display of bids in the market for the financial instrument, a dynamic display of asks in the market for the financial instrument, and a dynamic display of prices in the market for the financial instrument, wherein the dynamic price display is interposed between or adjacent to one of the dynamic bid display and the dynamic ask display, and first program code, when executed by the computer, for moving information within each of the dynamic displays with changes in the market for the financial instrument; when a user uses the user input device to select a region of one of the dynamic displays, the selected region including a bid volume or an ask volume and a corresponding price, second program code, when executed by the computer, temporarily freezes movement of the selected region of the dynamic displays as long as the selected region remains selected, even though a market change causes the computer to move unselected portions of the dynamic displays; and when the user actuates the user device to enter an order for the financial instrument at a price displayed in or associated with the selected region, third program code, when executed by the computer, provides the entered order for transmission to the electronic exchange. - View Dependent Claims (11, 12, 13, 14, 15)
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16. A client system for placing an order for a financial instrument on an electronic market using a graphical user interface, comprising:
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a display screen, a user input device that allows the user to interact with the display screen, a computer configured to control the display in accordance with inputs from the user input device to dynamically display a market depth of the financial instrument including; a dynamic display of bids in the market for the financial instrument, a dynamic display of asks in the market for the financial instrument, and a dynamic display of prices in the market for the financial instrument, wherein the dynamic price display is interposed between or adjacent to one of the dynamic bid display and the dynamic ask display, wherein the computer is configured to; move information within each of the dynamic displays with changes in the market for the financial instrument, and when a user uses the user input device to select a region of one of the dynamic displays, the selected region including a bid volume or an ask volume and a correspondence price, temporarily freeze movement of the selected region of the dynamic displays as long as the selected region remains selected, even though a market change causes the computer to move unselected portions of the dynamic displays; and when the user actuates the device to enter an order for the financial instrument at a price displayed in or associated with the selected region, provide the entered order to the electronic market. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25)
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Specification