User interfaces for efficient trade entry and management

• US 8,374,950 B1
• Filed: 02/02/2009
• Issued: 02/12/2013
• 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:
  US12/364,091
• Time in Patent Office: 1,471 Days
• Field of Search: 705/37, 705/35
• 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 computerized order management system comprising:

a display device having a user interface for facilitating post-trade processing by a user, the user interface comprising;

a pending view for displaying those trades that require further action by the user to be completed; and

a completed view displaying those trades that are completed, wherein

the user interface is adapted to support name-pending transactions in which the user may enter an order without initially specifying a client name and then subsequently specify the client name,

to support name switch transactions in which the user may, following commencement of a trade, substitute the name of a first party for a second party in the trade where the first party has a credit line with the counter-party to the trade and the second party, and the second party does not have a credit line with the counter-party to the trade, and

to support name-check transactions wherein a buy and sell order are matched, but at least one party to the transaction must approve its proposed counterparty before the transaction can be completed.

2. The system of claim 1, further comprising an annulled view for displaying trades that have been cancelled.

3. The system of claim 1, further comprising an all view for displaying all pending, completed and annulled trades.

4. The system of claim 1, further adapted to support modified-registered transactions in which a user indicates a desire to modify some aspect of a completed transaction.

5. The system of claim 1, further adapted to support annulled-pending transactions in which a user indicates a desire to cancel a completed transaction.

6. The system of claim 1, further comprising reject or confirm buttons through which a user may accept or reject the proposed counterparty.

7. The system of claim 1, further adapted to organize transaction data through the use of color coding to identify the status of a transaction as completed or pending.

8. The system of claim 1, further adapted to provide a field at the pending trades display area to indicate whether the trade requires the user to perform a further action to complete the trade.

9. The system of claim 8, wherein the field displays distinct indications for actions to be performed by the user and actions to be performed by the user'"'"'s counterparty.

10. A computerized order management system comprising:

a display device having a user interface for facilitating integrated post-trade processing by a user at a single screen without requiring a plurality of pop-up windows, the user interface comprising;

a pending view for displaying those trades that require further action by the user to be completed; and

a completed view displaying those trades that are completed, wherein

the pending view includes name-pending transactions in which the user may enter an order without initially specifying a client name and then subsequently specify the client name,

the user interface is adapted to support name switch transactions in which the user may, following commencement of a trade, substitute the name of a first party for a second party in the trade where the first party has a credit line with the counter-party to the trade and the second party, and the second party does not have a credit line with the counter-party to the trade, and

said pending view includes name-check transactions wherein a buy and sell order are matched, but at least one party to the transaction must approve its proposed counterparty before the transaction can be completed.

11. The system of claim 10, wherein said pending view includes modified-registered transactions in which a user indicates a desire to modify some aspect of a completed transaction.

12. The system of claim 10, wherein said pending view includes annulled-pending transactions in which a user indicates a desire to cancel a completed transaction.

13. The system of claim 10, wherein said pending view includes pending registered transactions in which user has entered a trade that was completed offline and is waiting for the person that represents the other side of the transaction to enter the opposite trade.