User interface for an electronic trading system

• US 8,185,467 B2
• Filed: 09/16/2009
• Issued: 05/22/2012
• Est. Priority Date: 04/09/1999
• Status: Expired due to Fees

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Friesen, Richard W., Hart, Peter C.
• Primary Examiner(s): Kazimi, Hani M
• Application Number:
  US12/560,842
• Publication Number:
  US 20100005037A1
• Time in Patent Office: 979 Days
• Field of Search: 705/37
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/08 Auctions
• 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 user interface for an electronic trading exchange is provided which allows a remote trader to view in real time bid orders, offer orders, and trades for an item, and optionally one or more sources of contextual data. Individual traders place orders on remote client terminals, and this information is routed to a transaction server. The transaction server receives order information from the remote terminals, matches a bid for an item to an offer for an item responsive to the bid corresponding with the offer, and communicates outstanding bid and offer information, and additional information (such as trades and contextual data) back to the client terminals. Each client terminal displays all of the outstanding bids and offers for an item, allowing the trader to view trends in orders for an item. A priority view is provided in which orders are displayed as tokens at locations corresponding to the values of the orders. The size of the tokens reflects the quantity of the orders. An alternate view positions order icons at a location which reflects the value and quantity of the order. Additionally, contextual data for the item is also displayed to allow the trader to consider as much information as possible while making transaction decisions. A pit panel view is also provided in which traders connected to the pit are represented by icons, and are displayed corresponding to an activity level of the trader.

Claims

1. A method for facilitating trading and displaying information regarding an item, the method comprising:

receiving a first price data for a first item via a client device;

receiving a second price data for a second item different from the first item via the client device;

generating a value axis via the client device, the value axis having a value scale derived from the first price data and the second price data;

displaying the value axis via the client device;

displaying a bid indicator relative to a first value of the value axis corresponding to a bid value via the client device, the bid value derived from the first price data and the second price data; and

displaying an ask indicator relative to a second value of the value axis corresponding to an ask value via the client device, the ask value derived from the first price data and the second price data.

2. The method of claim 1 where the bid indicator and the ask indicator are any of an icon, a graphical indicator, a numerical indicator, and any combination thereof.

3. The method of claim 1 where a size of the bid indicator represents a size of a corresponding bid and a size of the ask indicator represents a size of a corresponding ask.

4. The method of claim 1 where the values of the value axis represent a difference between prices for the first item and prices for the second item.

5. The method of claim 1 further comprising:

receiving a user command via an input device associated with the client device to select at least one location corresponding to a selected value of the value axis; and

initiating submission of an order for at least one of the first item and the second item at a price determined according to the selected value corresponding to the at least one location.

6. The method of claim 5, further comprising displaying an order indicator along the value axis corresponding to the order.

7. The method of claim 1 where the first item and the second item are any of a trading product, a good, a futures product, an option, a commodity, a currency product, an index-based product, an equity, an interest rate-based product, combinations thereof and any derivative thereof.

8. The method of claim 7 where the first item comprises a derivative of the second item.

17. The method of claim 1 where the client device comprises a distributed system.

18. The method of claim 3 where the bid indicator is configured to represent an aggregated plurality of bid orders for the bid value according to graphically stacking the aggregated plurality of bid orders and the ask indicator is configured to represent an aggregated plurality of plurality of ask orders for the ask value according to graphically stacking the aggregated plurality of ask orders.

19. The method of claim 1 further comprising

displaying a plurality of bid indicators along the value axis, where each of the plurality of bid indicators are displayed relative to an associated bid value the bid value derived from the first price data and the second price data;

and

displaying a plurality of ask indicators along the value axis, where each of the plurality of ask indicators are displayed relative to an associated ask value of the value axis derived from the first price data and the second price data,

where each of the plurality of bid indicators are aligned substantially orthogonal to the value axis according to the associated bid values and the plurality of ask indicators are aligned substantially orthogonal to the value axis according to the associated ask values.

20. The method of claim 5 where initiating submission of the order comprises generating an order confirmation for confirming a user order for at least one of the first item and the second item to be submitted.

21. The method of claim 20 where the order confirmation comprises an order ticket being populated with at least the price.

22. The method of claim 21 further comprising submitting the order in response to detecting confirmation of the order via the order ticket.

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

receiving a first price data for a first item;

receiving a second price data for a second item different from the first item;

generating a value axis having a value scale derived from the first price data and the second price data;

displaying the value axis;

displaying a bid indicator relative to a first value of the value axis corresponding to a bid value, the bid value derived from the first price data and the second price data; and

displaying an ask indicator relative to a second value of the value axis corresponding to an ask value, the ask value derived from the first price data and the second price data.

10. The non-transitory computer readable medium of claim 9 where the bid indicator and the ask indicator are any of an icon, a graphical indicator, a numerical indicator, and any combination thereof.

11. The non-transitory computer readable medium of claim 9 where a size of the bid indicator represents a size of a corresponding bid and a size of the ask indicator represents a size of a corresponding ask.

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

receiving a user command to select at least one location corresponding to a selected value of the value axis; and

initiating submission of an order for at least one of the first item and the second item at a price determined according to the selected value corresponding to the at least one location.

13. The non-transitory computer readable medium of claim 9 where the values of the value axis represent a difference between prices for the first item and prices for the second item.

14. The non-transitory computer readable medium of claim 12, where the acts further comprise displaying an order indicator along the value axis corresponding to the order.

15. The non-transitory computer readable medium of claim 9 where the first item and the second item are any of a good, a futures product, an option, a commodity, a currency product, an index-based product, an equity, an interest rate-based product, combinations thereof and any derivative thereof.

16. The non-transitory computer readable medium of claim 15 where the first item is a derivative of the second item.

23. A method for facilitating trading and displaying information regarding an item, the method comprising:

receiving first price data for a first item via a client device;

displaying a value axis via the client device, the value axis having a value scale derived from the first price data;

displaying a bid indicator relative to a first value of the value axis corresponding to a bid value via the client device, the bid value derived from the first price data;

displaying an ask indicator relative to a second value of the value axis corresponding to an ask value via the client device, the ask value derived from the first price data;

receiving a user command via an input device associated with the client device to select at least one location corresponding to a selected value of the value axis; and

initiating submission of an order for a preset quantity of the first item at a price determined according to the selected value corresponding to the at least one location.

24. The method of claim 23 further comprising:

receiving a second price data for a second item different from the first item via the client device,

where the value scale is derived from the first price data and the second price data,

where the bid value is derived from at least one of the first price data and the second price data, and

where the ask value is derived from at least one of the first price data and the second price data.

25. The method of claim 24 where the bid indicator and the ask indicator are any of an icon, a graphical indicator, a numerical indicator, and any combination thereof.

26. The method of claim 24 where a size of the bid indicator represents a size of a corresponding bid and a size of the ask indicator represents a size of a corresponding ask.

27. The method of claim 24 where the values of the value axis represent a difference between prices for the first item and prices for the second item.

28. The method of claim 24 where the first item comprises a derivative of the second item.

29. The method of claim 24 where the first item and the second item are any of a good, a futures product, an option, a commodity, a currency product, an index-based product, an equity, an interest rate-based product, combinations thereof and any derivative thereof.

30. The method of claim 24 where the client device comprises a distributed system.