User interfaces for efficient trade entry and management

• US 8,255,315 B1
• Filed: 11/30/2005
• Issued: 08/28/2012
• Est. Priority Date: 11/30/2005
• Status: Active Grant

• Current Assignee: Nex Services North America, LLC (CME Group Incorporated)
• Original Assignee: ICAP Services North America LLC (TP ICAP Plc)
• Inventors: May, Richard Raymond
• Primary Examiner(s): VEZERIS, JAMES A
• Application Number:
  US11/291,465
• Time in Patent Office: 2,463 Days
• Field of Search: 705/35, 705/37, 705/36.R
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A plurality of user interfaces for facilitating efficient order management and post-trade processing in an electronic trading system are disclosed. A first user interface comprises a plurality of client buttons and a broker button. Selection of a client button shifts the user interface to a client-perspective mode in which all actions and views are from the selected client'"'"'s point of view. Selection of the broker button shifts the user interface to a client-neutral mode in which the broker may enter orders in the market without specifying any particular client. An analogous user interface for use by a trader is also described. A second user interface, referred to as a blotter, is also provided that comprises four distinct views for displaying “pending,” “completed,” “all,” and “annulled” trades. Preferred embodiments for utilizing the disclosed user interfaces to process different classes of pending trades are also described.

Claims

1. A broker interface system for facilitating efficient order management by a broker, comprising:

a matching engine that includes a processor and is configured to;

distribute information concerning aspects of a market for an item for display in a market information window at a user terminal;

receive orders to buy or sell the item from an order entry window of the user terminal; and

provide the user terminal with a button associated with a specified client of the broker and adapted upon selection to cause the user terminal to shift to a client-perspective mode in which information displayed in the market-information window is displayed from the perspective of the specified client and actions taken using the order-entry window are taken on behalf of the specified client,

wherein the matching engine is further configured to provide a button associated with the broker and adapted upon selection to cause the user terminal to shift to a client-neutral mode in which the broker may enter orders in the market without specifying any particular client.

2. The broker interface system of claim 1, further comprising an order entry field for use by a broker in which the broker only specifies the price and quantity of the item to be traded.

3. A broker interface system, for facilitating efficient order management by a broker, comprising:

a matching engine that includes a processor and is configured to;

distribute information concerning aspects of a market for an item for display in a market information window at a user terminal;

receive orders to buy or sell the item from an order entry window of the user terminal;

provide the user terminal with a button associated with a specified client of the broker and adapted upon selection to cause the user terminal to shift to a client-perspective mode in which information displayed in the market-information window is displayed from the perspective of the specified client and actions taken using the order-entry window are taken on behalf of the specified client; and

an order entry field for use by a broker in which the broker only specifies the price and quantity of the item to be traded,

wherein the order entry field comprises a price field, the matching engine being further configured to default the price field to the current market price if the specified client does not have a pending order, or, if the specified client has a pending order, to the price of that order.

4. A broker interface system, for facilitating efficient order management by a broker, comprising:

a matching engine that includes a processor and is configured to;

distribute information concerning aspects of a market for an item for display in a market information window at a user terminal;

receive orders to buy or sell the item from an order entry window of the user terminal;

provide the user terminal with a button associated with a specified client of the broker and adapted upon selection to cause the user terminal to shift to a client-perspective mode in which information displayed in the market-information window is displayed from the perspective of the specified client and actions taken using the order-entry window are taken on behalf of the specified client; and

an order entry field for use by a broker in which the broker only specifies the price and quantity of the item to be traded,

wherein the order entry field comprises a quantity field, the matching engine being further configured to default the quantity field to the selected specified client'"'"'s default order size if the specified client does not have a pending order, or, if the specified client has a pending order, to the size of that order.

5. A user interface system for facilitating efficient order management, comprising:

a matching engine that includes a processor and is configured to;

distribute information concerning aspects of a market for an item for display in a first market information window at a user terminal;

distribute summary information concerning aspects of the market for the item for display in a second market information window at the user terminal;

receive orders to buy or sell the item from a first order entry window of the user terminal, the first order entry window comprising a first price field, a first quantity field, buttons for modifying the values in the first price field and first quantity field from default values, a button for submitting a new or modified order defined by the first price field and first quantity field, and a button for cancelling a pending order defined by the first price field and first quantity field;

receive orders to buy or sell the item from a second order entry window of the user terminal, the second order entry window comprising a second price field, a second quantity field, and field for selecting order type, wherein the first and second price fields are different fields and the first and second quantity fields are different fields; and

provide the user terminal with a message window for communicating with other system users.

6. The user interface system of claim 5, wherein the user interface system is adapted for use by a broker.

7. The user interface system of claim 5, wherein the user interface system is adapted for use by a trader.