System and method for dynamically changing an electronic trade order quantity
First Claim
Patent Images
1. A method including:
- sending by a computing device a first command to enter a first trade order for a first tradeable object, wherein the first trade order includes an order quantity, wherein the order quantity is based on a definition for a trading strategy, a desired strategy quantity, and market data for a second tradeable object, wherein the trading strategy includes the first tradeable object and the second tradeable object;
detecting by the computing device an increase in quantity available for the second tradeable object;
determining by the computing device a new quantity based on the definition for the trading strategy and the increase in quantity available for the second tradeable object; and
sending by the computing device a second command to increase the order quantity of the first trade order to the new quantity when the increase in quantity available for the second tradeable object conforms to an increase parameter.
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Abstract
A system and methods for dynamically changing a trade order quantity in an electronic trading environment are described herein. According to one example embodiment, an automated trading tool determines if a leaned on quantity of a trading strategy has increased or decreased and if so, dynamically changing a desired order quantity to reflect the change in the leaned on quantity. Dynamically changing an order quantity may be more profitable for a trader as order queue position may be maintained and portion of the desired order quantity may get filled; rather than a trader losing their order queue position and/or taking a chance of not getting any of their order quantity filled.
80 Citations
24 Claims
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1. A method including:
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sending by a computing device a first command to enter a first trade order for a first tradeable object, wherein the first trade order includes an order quantity, wherein the order quantity is based on a definition for a trading strategy, a desired strategy quantity, and market data for a second tradeable object, wherein the trading strategy includes the first tradeable object and the second tradeable object; detecting by the computing device an increase in quantity available for the second tradeable object; determining by the computing device a new quantity based on the definition for the trading strategy and the increase in quantity available for the second tradeable object; and sending by the computing device a second command to increase the order quantity of the first trade order to the new quantity when the increase in quantity available for the second tradeable object conforms to an increase parameter. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A non-transitory computer readable medium having stored therein instructions executable by a processor, wherein the instructions are executable to:
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send a first command to enter a first trade order for a first tradeable object, wherein the first trade order includes an order quantity, wherein the order quantity is based on a definition for a trading strategy, a desired strategy quantity, and market data for a second tradeable object, wherein the trading strategy includes the first tradeable object and the second tradeable object; detect an increase in quantity available for the second tradeable object; determine a new quantity based on the definition for the trading strategy and the increase in quantity available for the second tradeable object; and send a second command to increase the order quantity of the first trade order to the new quantity when the increase in quantity available for the second tradeable object conforms to an increase parameter. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A system including:
a client device, wherein the client device is adapted to send a first command to enter a first trade order for a first tradeable object, wherein the first trade order includes an order quantity, wherein the order quantity is based on a definition for a trading strategy, a desired strategy quantity, and market data for a second tradeable object, wherein the trading strategy includes the first tradeable object and the second tradeable object, wherein the client device is adapted to detect an increase in quantity available for the second tradeable object, wherein the client device is adapted to determine a new quantity based on the definition for the trading strategy and the increase in quantity available for the second tradeable object, and wherein the client device is adapted to send a second command to increase the order quantity of the first trade order to the new quantity when the increase in quantity available for the second tradeable object conforms to an increase parameter. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24)
Specification