Drag-and-drop graphical control interface for algorithmic trading engine

• US 7,882,013 B2
• Filed: 04/06/2007
• Issued: 02/01/2011
• Est. Priority Date: 04/28/2006
• Status: Active Grant

• Current Assignee: Portware LLC (FactSet Research Systems Incorporated)
• Original Assignee: Aritas Group, Inc.
• Inventors: Shapiro, Andrew, Dempsey, Ian, Gamse, Brent, Burmeister, Abe, Waelbroeck, Henri
• Primary Examiner(s): Havan; Thu Thao
• Application Number:
  US11/783,251
• Publication Number:
  US 20080021809A1
• Time in Patent Office: 1,397 Days
• Field of Search: 705 35- 38
• US Class Current: 705/37
• CPC Class Codes: G06F 3/04847 Interaction techniques to control parameter settings, e.g. interaction with sliders or dials
• CPC Class Codes: G06F 3/0486 Drag-and-drop
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A graphical user interface is used along with an automated algorithm selection function to enable market participants to initiate automated, multi-algorithm trading strategies through a single drag and drop motion. A symbol representing a security can be dragged and dropped onto an icon representing a tactical or strategic algorithm. Other features of the graphical user interface show information such as the progress of the algorithms.

Claims

1. A computer system comprising one or more processors programmed to:

(a) transmit data sufficient to describe a graphical user interface to be displayed to a user, said graphical user interface comprising one or more icons, at least one of said one or more icons representing an algorithm switching engine; and

(b) receive data indicating an algorithm switching engine to be used to execute a securities trade order, wherein said user has designated said algorithm switching engine by dragging a securities symbol over an icon corresponding to said algorithm switching engine.

2. A computer system as in claim 1, wherein said securities symbol is dragged from a watch list of securities.

3. A computer system as in claim 1, wherein dragging said securities symbol over said icon corresponding to an algorithm switching engine causes said graphical user interface to display an order entry box that enables said user to set order execution parameters for said securities trade order.

4. A computer system as in claim 1, wherein dragging said securities symbol over said icon corresponding to an algorithm switching engine causes said graphical user interface to display a price scale that represents current bids and offers for a security corresponding to said securities symbol.

5. A computer system as in claim 4, wherein dropping said securities symbol at a desired limit on said price scale results in setting said limit for execution by said selected algorithm switching engine and initiation of execution of said securities trade order by said selected algorithm switching engine.

11. A computer system as in claim 1, wherein said algorithm switching engine:

(a) receives data describing said securities trade order;

(b) selects one or more first trading algorithms from a plurality of available stored algorithms for execution of said securities trade order;

(c) commences execution of said securities trade order via said one or more first trading algorithms;

(d) evaluates quality of execution, during said execution, of said securities trade order via said one or more first trading algorithms;

(e) compares said evaluated quality of execution to a threshold of acceptability; and

(f) if said evaluated quality of execution compares unfavorably to said threshold of acceptability, switches said execution of said securities trade order to one or more second trading algorithms.

6. A computer system comprising one or more processors programmed to:

(a) transmit data sufficient to describe a graphical user interface to be displayed to a user, said graphical user interface comprising one or more icons, each of said one or more icons representing a trading algorithm; and

(b) receive data describing a selection of a trading algorithm to be used to execute a securities trade order, wherein said user has selected said trading algorithm by dragging a securities symbol over an icon corresponding to said trading algorithm.

7. A computer system as in claim 6, wherein said securities symbol is dragged from a watch list of securities.

8. A computer system as in claim 6, wherein dragging said securities symbol over said icon corresponding to a trading algorithm causes said graphical user interface to display an order entry box that enables said user to set order execution parameters for said securities trade order.

9. A computer system as in claim 6, wherein dragging said securities symbol over said icon corresponding to a trading algorithm causes said graphical user interface to display a price scale that represents current bids and offers for a security corresponding to said securities symbol.

10. A computer system as in claim 9, wherein dropping said securities symbol at a desired limit on said price scale results in setting said limit for execution by said selected trading algorithm and initiation of execution of said securities trade order by said selected trading algorithm.