System and method for processing securities trading instructions and communicating order status via a messaging interface
First Claim
1. A method for communicating instructions to a computerized order management system (OMS) of a securities brokerage firm, the method comprising a computerized system:
- receiving a plurality of electronic communications via a communications network, wherein at least one of the plurality of electronic communications comprises a textual body of natural language content;
displaying the textual body of natural language content of the at least one of the plurality of electronic communications on a display screen of the computerized order management system (OMS);
scanning the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords corresponding to a command to execute a trade by the OMS, each of said plurality of keywords corresponding to a respective instruction to execute a request to trade by the OMS;
parsing the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one parameter corresponding to the respective instruction to execute the request to trade by the OMS;
identifying, based at least in part, on the at least one of a predefined plurality of keywords and the at least one parameter, the request to trade;
preparing, in response to scanning and parsing, an OMS-compliant communication including the at least one of a predefined plurality of keywords and the at least one parameter reflecting the respective instruction to execute the trade by the OMS; and
transmitting the OMS-compliant communication to the OMS via a communications network.
3 Assignments
0 Petitions
Accused Products
Abstract
A system allowing traders, etc. to use instant messaging (IM) (or other non-FIX based) communications to input trading instructions directly into a broker'"'"'s Order Management System (OMS) for managing/executing trades. Accordingly, trading instructions may be provided electronically directly from a buy-side trader, and directly to a sell-side broker'"'"'s/brokerage'"'"'s OMS, without the need for the sell-side broker to manually re-key the order into the sell-side firm'"'"'s OMS. Further, trading instructions are provided in electronic format directly to the broker'"'"'s OMS without the need for the buy-side trader to have an expensive FIX based OMS or associated FIX connection, which is also expensive, thereby allowing relatively smaller investment houses/buy-side organizations to enjoy the benefits of electronic delivery of trading instructions directly to brokers'"'"' OMS.
-
Citations
26 Claims
-
1. A method for communicating instructions to a computerized order management system (OMS) of a securities brokerage firm, the method comprising a computerized system:
-
receiving a plurality of electronic communications via a communications network, wherein at least one of the plurality of electronic communications comprises a textual body of natural language content; displaying the textual body of natural language content of the at least one of the plurality of electronic communications on a display screen of the computerized order management system (OMS); scanning the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords corresponding to a command to execute a trade by the OMS, each of said plurality of keywords corresponding to a respective instruction to execute a request to trade by the OMS; parsing the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one parameter corresponding to the respective instruction to execute the request to trade by the OMS; identifying, based at least in part, on the at least one of a predefined plurality of keywords and the at least one parameter, the request to trade; preparing, in response to scanning and parsing, an OMS-compliant communication including the at least one of a predefined plurality of keywords and the at least one parameter reflecting the respective instruction to execute the trade by the OMS; and transmitting the OMS-compliant communication to the OMS via a communications network. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 24, 25, 26)
-
-
22. A system for communicating instructions to a computerized order management system (OMS) of a securities brokerage firm, the system comprising:
-
a microprocessor; a memory operatively connected to the microprocessor; a network interface device operatively connected to the microprocessor for communicating via a communications network; and instructions stored in the memory and executable by the microprocessor to carry out the method of; receiving a plurality of electronic communications via a communications network, wherein at least one of the plurality of electronic communications comprises a textual body of natural language content; displaying the textual body of natural language content of the at least one of the plurality of electronic communications on a display screen of the computerized order management system (OMS); scanning the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords corresponding to a command to execute a trade by the OMS, each of said plurality of keywords corresponding to a respective instruction to execute a request to trade by the OMS; parsing the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one parameter corresponding to the respective instruction to execute the request to trade by the OMS; identifying, based at least in part, on the at least one of a predefined plurality of keywords and the at least one parameter, the request to trade; preparing, in response to scanning and parsing, an OMS-compliant communication including the at least one of a predefined plurality of keywords and the at least one parameter reflecting the respective instruction to execute the trade by the OMS; and transmitting the OMS-compliant communication to the OMS via a communications network.
-
-
23. A computer program product embodied on one or more non-transitory computer-readable media, the computer program product adapted for communicating instructions to a computerized order management system (OMS) of a securities brokerage firm and comprising computer-readable program code that, when executed by a processor, performs a method for communicating instructions to a computerized order management system (OMS) of a securities brokerage firm, the method comprising:
-
receiving a plurality of electronic communications via a communications network, wherein at least one of the plurality of electronic communications comprises a textual body of natural language content; displaying the textual body of natural language content of the at least one of the plurality of electronic communications on a display screen of the computerized order management system (OMS); scanning the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one of a predefined plurality of keywords corresponding to a command to execute a trade by the OMS, each of said plurality of keywords corresponding to a respective instruction to execute a request to trade by the OMS; parsing the textual body of natural language content of the at least one of the plurality of electronic communications to identify at least one parameter corresponding to the respective instruction to execute the request to trade by the OMS; identifying, based at least in part, on the at least one of a predefined plurality of keywords and the at least one parameter, the request to trade; preparing, in response to scanning and parsing, an OMS-compliant communication including the at least one of a predefined plurality of keywords and the least one parameter reflecting the respective instruction to execute the trade by the OMS; and transmitting the OMS-compliant communication to the OMS via a communications network.
-
Specification