Order matching system
First Claim
Patent Images
1. A method, comprising:
- receiving, via a communications network, a definition of an order, defined by an evaluation heuristic, that identifies changes of respective characteristics of transaction instances of the order at respective execution times of the transaction instances;
transmitting, via the communications network, a message defining a transaction instance of the transaction instances to a transaction destination of the transaction instance;
receiving, via the communications network, a completion message identifying a status of the transaction instance from the transaction destination.
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Abstract
Scheduling execution of orders is provided. An order system can enable users to define and modify buy/sell order schedules. The order system can use the order schedules and associated evaluation heuristics to evaluate and update order characteristics such as price and quantity based on user-specified criteria. An order manager, utilizing a schedule supervisor server, can maintain a database containing order schedules and order status information, and execute variable evaluations based on the order schedules and associated evaluation heuristics. A transaction supervisor server can monitor the status of order fills and to update the database periodically.
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Citations
28 Claims
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1. A method, comprising:
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receiving, via a communications network, a definition of an order, defined by an evaluation heuristic, that identifies changes of respective characteristics of transaction instances of the order at respective execution times of the transaction instances; transmitting, via the communications network, a message defining a transaction instance of the transaction instances to a transaction destination of the transaction instance; receiving, via the communications network, a completion message identifying a status of the transaction instance from the transaction destination. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system, comprising:
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at least one processor; at least one memory communicatively coupled to the at least one processor, the at least memory having stored therein instructions, comprising; a data storage component configured to store a definition of an order schedule, defined by an evaluation heuristic, identifying changes of respective characteristics of orders of the order schedule at respective execution times of the orders; a schedule manager component configured to communicate, based on the evaluation heuristic, a message defining an order of the orders to a destination; and an order manager component configured to receive a completion message identifying a status of the order from the destination. - View Dependent Claims (11, 12, 13, 14, 15, 16)
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17. A system, comprising:
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means for storing a definition of an order schedule identifying, based on an evaluation heuristic, changes of respective characteristics of transactions of the order schedule at respective execution times of the transactions; means for transmitting, based on the evaluation heuristic, an order message defining a transaction of the transactions to a transaction destination; and means for receiving, from the transaction destination, a completion message identifying a completion status of the transaction. - View Dependent Claims (18, 19, 20, 21, 22)
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23. A computer-readable medium including computer-executable instructions that, in response to execution by a computing device, cause the computing device to perform operations comprising:
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receiving a definition associated with an evaluation heuristic specifying changes of respective parameters of transactions at respective execution times of the transactions; transmitting, based on the evaluation heuristic, an order message defining a transaction of the transactions to a destination; and receiving, from the destination, a completion message identifying a completion status of the transaction. - View Dependent Claims (24, 25, 26, 27, 28)
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Specification