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Market participant issue selection system and method

  • US 8,484,125 B1
  • Filed: 06/25/2012
  • Issued: 07/09/2013
  • Est. Priority Date: 04/07/2005
  • Status: Active Grant
First Claim
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1. An option class selection system for authorizing market participants to disseminate quotes on a trading facility for at least one option class, the option class selection system comprising:

  • an option class selection database, the option class selection database comprising a listing of a plurality of option classes available for trading on the trading facility, wherein each option class is associated with a numeric value based on a trading parameter associated with the option class;

    a communication module configured for communicating with a trade engine of an exchange; and

    a processor in communication with the trade engine and in communication with the option class selection database, the processor configured to;

    receive a request to obtain rights to submit quotes in a subset of the plurality of available option classes from a market participant having a quoting privilege at the exchange, wherein the quoting privilege of the market participant is less than an amount necessary to obtain rights to submit quotes in all available option classes;

    calculate a total of the numeric values associated with the option classes in the subset;

    determine if the total of the numeric values is less than or equal to a value of the quoting privilege associated with the market participant; and

    authorize the market participant to submit quotes in the subset if the total of the numeric values is less than or equal to the value of the quoting privilege.

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