Implied order quality

• US 8,249,980 B2
• Filed: 06/24/2010
• Issued: 08/21/2012
• Est. Priority Date: 06/24/2010
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Mintz, Sagy Pundak, Burns, Michael J., Deitz, Alexander D.
• Primary Examiner(s): Weisberger, Richard C
• Application Number:
  US12/822,979
• Publication Number:
  US 20110320334A1
• Time in Patent Office: 789 Days
• Field of Search: 705 35- 45
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• 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

Certain embodiments of the present inventions provide implied order quality. The quality may be viewed as an indication of how much an implied order and/or an aggregate quality for implied orders may be relied upon. Certain embodiments utilize various techniques for determining a quality for an implied order. Certain embodiments utilize various techniques for determining an aggregate quality for implied orders. Certain embodiments provide an indicator of the quality for an implied order and/or of the aggregate quality for implied orders. Certain embodiments filter an implied order based on a determined quality value and/or determined aggregate quality.

Claims

1. A method including:

receiving by a computing device an implied order for a tradable object, wherein the implied order is derived from a plurality of orders;

determining by the computing device a quality value for the implied order for the tradable object, wherein the quality value is determined based on the quantity of the orders the implied order is derived from; and

generating by the computing device a quality indicator representing the quality value for the implied order.

2. The method of claim 1, wherein the implied order is provided by an exchange.

3. The method of claim 1, wherein the implied order is determined by the computing device.

4. The method of claim 1, wherein the quality value is determined based on a generation of the implied order.

5. The method of claim 1, wherein the quality value is determined based on an origin of the implied order.

6. The method of claim 1, wherein the quality value is determined based on the number of orders the implied order is derived from.

7. The method of claim 1, wherein the quality value is determined based on a price level of the implied order.

8. The method of claim 1, further including filtering by the computing device the implied order based on the determined quality value.

9. The method of claim 1, further including displaying by the computing device the generated quality indicator.

10. The method of claim 1, wherein the quality indicator includes a number.

11. The method of claim 1, wherein the quality indicator includes a color.

12. The method of claim 1, wherein the quality indicator includes a graph.