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

• US 8,027,910 B2
• Filed: 05/27/2010
• Issued: 09/27/2011
• 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): Liu; Chia Yi
• Application Number:
  US12/789,076
• Publication Number:
  US 20100235302A1
• Time in Patent Office: 488 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, by a computing device, a plurality of market updates from an electronic exchange, where the plurality of market updates provide at least a highest bid price, a lowest ask price, and a last traded price for the tradable object;

displaying a market display region by the computing device according to the plurality of market updates, the market display region having a plurality of price levels being axially aligned where a highest bid indicator and a lowest ask indicator change position relative to the price levels;

establishing, by the computing device, a time period having at least a first time and a second time earlier than the first time;

determining, by the computing device, a highest traded price during the time period according to the plurality of market updates;

recording, by the computing device, the highest traded price when the highest traded price is greater than a highest price level of the plurality of price levels of the market display region;

displaying, by the computing device, a first indicator at a first location along the price levels when the highest traded price is in the market display region, where the first indicator represents the highest traded price during the time period and the first location corresponds to the highest traded price, and where the first indicator moves relative to the price levels to reflect changes in the highest traded price;

determining, by the computing device, a lowest traded price during the time period according to the plurality of market updates;

recording, by the computing device, the lowest traded price when the lowest traded price is less than a lowest price level of the plurality of price levels of the market display region; and

displaying, by the computing device, a second indicator at a second location along the price levels when the lowest traded price is in the market display region, where the second indicator represents the lowest traded price during the time period and the second location corresponds to the lowest traded price, and where the second indicator moves relative to the price levels to reflect changes in the lowest traded price.

2. The method of claim 1, further comprising:

receiving a repositioning command via the computing device to re-center the highest bid indicator and the lowest ask indicator relative to the market display region; and

in response to the repositioning command, changing the market display region to a repositioned market display region by adjusting the price levels by the computing device to a repositioned plurality of price levels being axially aligned where the highest bid indicator and the lowest ask indicator are repositioned in the repositioned market display region.

3. The method of claim 2, where the highest bid indicator and the lowest ask indicator are centrally located relative to the repositioned market display region.

4. The method of claim 2, where the repositioned plurality of price levels are centrally located in the repositioned market display region, and the highest bid indicator and the lowest ask indicator are centrally located relative to the repositioned market display region.

5. The method of claim 1, further comprising:

receiving a scroll command to scroll the price levels via the computing device; and

adjusting, via the computing device, the price levels responsive to the scroll command.

6. The method of claim 1, further comprising:

displaying, via the computing device, an indicator at each price level along the price levels in the market display region between the highest traded price and the lowest traded price.

7. The method of claim 6, where the indicator at each price level is configured to identify that the highest traded price is above the indicator and the lowest traded price is below the indicator.

8. The method of claim 1, further comprising:

consolidating the plurality of price levels along the price levels where each consolidated price level along the price levels corresponds to a group of price levels, and a quantity at each new price level corresponds to a total quantity available in the group of price levels;

displaying, responsive to consolidating, the first indicator at the consolidated price level corresponding to the group of price levels that includes the highest traded price; and

displaying, responsive to consolidating, the second indicator at the consolidated price level corresponding to the group of price levels that includes the lowest traded price.

21. The method of claim 1, where the plurality of price levels comprise a plurality of static price levels.

9. A non-transitory computer readable medium having instructions stored thereon, which when executed by a processor, cause the processor to perform acts comprising:

receiving a plurality of market updates from an electronic exchange, where the plurality of market updates provide at least a highest bid price, a lowest ask price, and a last traded price for a tradable object;

displaying a market display region according to the plurality of market updates, the market display region having a plurality of price levels being axially aligned where a highest bid indicator and a lowest ask indicator change position relative to the price levels;

establishing a time period having at least a first time and a second time earlier than the first time;

determining a highest traded price during the time period according to the plurality of market updates;

recording the highest traded price when the highest traded price is above a highest price level of plurality of price levels of the market display region;

displaying a first indicator at a first location along the price levels when the highest traded price is in the market display region, where the first indicator represents the highest traded price during the time period and the first location corresponds to the highest traded price, and where the first indicator moves relative to the price levels to reflect changes in the highest traded price;

determining a lowest traded price during the time period according to the plurality of market updates;

recording the lowest traded price when the lowest traded price is less than a lowest price level of plurality of price levels of the market display region; and

displaying a second indicator at a second location along the price levels when the lowest traded price is in the market display region, where the second indicator represents the lowest traded price during the time period and the second location corresponds to the lowest traded price, and where the second indicator moves relative to the price levels to reflect changes in the lowest traded price.

10. The non-transitory computer readable medium of claim 9, where the acts further comprise:

receiving a repositioning command to re-center the highest bid indicator and the lowest ask indicator relative to the market display region; and

in response to the repositioning command, changing the market display region to a repositioned market display region by adjusting the price levels to a repositioned plurality of price levels being axially aligned where the highest bid indicator and the lowest ask indicator are repositioned in the repositioned market display region.

11. The non-transitory computer readable medium of claim 10, where the highest bid indicator and the lowest ask indicator are centrally located relative to the repositioned market display region.

12. The non-transitory computer readable medium of claim 10, where the repositioned price levels are centrally located in the repositioned market display region, and the highest bid indicator and the lowest ask indicator are centrally located relative to the repositioned market display region.

13. The non-transitory computer readable medium of claim 9, where the acts further comprise:

receiving a scroll command to scroll the price levels; and

in response to the scroll command, adjusting the price levels.

14. The computer readable medium of claim 9, where the acts further comprise:

displaying an indicator at each price level along the price levels in the market display region between the highest traded price and the lowest traded price.

15. The computer readable medium of claim 14, where the indicator at each price level is configured to identify that that the highest traded price is above the indicator and the lowest traded price is below the indicator.

16. The computer readable medium of claim 9, where the acts further comprise:

consolidating the plurality of price levels along the price levels where each consolidated price level along the price levels corresponds to a group of price levels, and a quantity at each consolidated price level corresponds to a total quantity available in the group of price levels;

displaying, responsive to consolidating, the first indicator at the new price level corresponding to the group of price levels that includes the highest traded price; and

displaying, responsive to consolidating, the second indicator at the consolidated price level corresponding to the group of price levels that includes the lowest traded price.

22. The non-transitory computer readable medium of claim 9, where the plurality of price levels comprise a plurality of static price levels.

17. A trading system comprising:

an electronic market information receiver configured to receive a plurality of market updates from an electronic exchange, where the plurality of market updates provide at least a highest bid price, a lowest ask price, and a last traded price for a tradable object;

an electronic processor coupled with the market information receiver and configured to receive a time period having at least a first time and a second time earlier than the first time, to record a highest traded price during the time period according to the plurality of market updates, and to record a lowest traded price during the time period according to the plurality of market updates; and

an electronic display responsive to the processor and configured to display;

a market display region according to the plurality of market updates, the market display region having a plurality of price levels being axially aligned where a highest bid indicator and a lowest ask indicator change position relative to the price levels to reflect changes in the highest bid price and the lowest ask price for the tradable object,

a first indicator at a first location along the price levels when the highest traded price is in the market display region, the first indicator representing the highest traded price during the time period and the first location corresponding to the highest traded price, and where the first indicator moves relative to the price levels to reflect changes in the highest traded price, and

a second indicator at a second location along the price levels when the lowest traded price is in the market display region, the second indicator representing the lowest traded price during the time period and the second location corresponding to the lowest traded price, and where the second indicator moves relative to the price levels to reflect changes in the lowest traded price.

18. The trading system of claim 17, further comprising:

an input device adapted to receive a repositioning command to reposition the highest bid indicator and the lowest ask indicator relative to a repositioned market display region having a repositioned plurality of price levels.

19. The trading system of claim 18, where the highest bid indicator and the lowest ask indicator are centrally located relative to the repositioned market display region.

20. The trading system of claim 18, where the repositioned plurality of price levels are centrally located in the repositioned market display region, and the highest bid indicator and the lowest ask indicator are centrally located relative to the repositioned market display region.

23. The trading system of claim 17, where the plurality of price levels comprise a plurality of static price levels.